The Climate Report | Third Quarter 2022
Chris Papanicolaou, of counsel in Jones Day's Government Regulation and Real Estate Practices, focuses on environmental law and general commercial real estate law. He has advised clients on environmental permit applications and appeals; waste and water resources laws; infrastructure project issues; carbon reduction and climate change; renewable energy projects; health and safety issues; and environmental liability insurance. He also handles the structuring of brownfield contaminated land disposals and acquisitions. His commercial property law practice extends to advising major companies on disposals, acquisitions, lettings, and options and on general landlord and tenant matters. Chris is located in the London Office and was recently named to the 2023 edition of The Best Lawyers in United Kingdom.™ He is a member of the United Kingdom Environmental Law Association.
REGULATORY ISSUES & UPDATES
European Taxonomy Regulation Extended to Natural Gas and Nuclear Energy
The regulation is likely to create new opportunities for natural gas and nuclear energy in the European Union, though it may not deter nongovernmental organizations from continuing to challenge fossil fuel or nuclear activities.
CFTC Holds First-Ever Voluntary Carbon Markets Convening
EPA's final rule sets revised greenhouse gas emissions standards for passenger cars and light-duty trucks with model years 2023-2026.
Pennsylvania Joins the Regional Greenhouse Gas Initiative
The European Commission has adopted new Guidelines on State Aid for Climate, Environmental Protection, and Energy, offering increased opportunity for businesses to receive State aid.
Jones Day Submits Comment Letter on SEC's Proposed Climate-Related Disclosure Rules
The letter proposes changes that support all market participants' common objectives of investor protection and fair and efficient capital markets.
Australian Corporate Conduct Regulator Releases Guidance on Greenwashing Risks
ASIC has released guidance to superannuation and managed funds on avoiding the risk of greenwashing when promoting sustainability-related products.
LITIGATION ISSUES & UPDATES
U.S. Supreme Court Limits How EPA Can Regulate Greenhouse Gases
The Green Plan charts ambitious and concrete targets over the next decade as Singapore strives to lead the region in sustainable development and financing.
Predicted Rise in Climate-Related Investment Arbitration Claims on the Horizon
Relying on the Hague District Court's ruling in the Royal Dutch Shell case, a Dutch environmental group has called on the chief executives of the "Netherlands' large polluters" to draft a "climate plan" before April 15, 2022, detailing the actions they will take to reduce their companies' CO2 emissions by 45% in 2030.
TRANSACTIONAL ISSUES & UPDATES
Overview and Impact of Singapore's Green Plan 2030
The assessment includes 61 UK-wide climate risks, with eight specific areas identified for immediate action in the next two years.
Australian Carbon Credit Scheme Under Scrutiny
The new Labor government's policy shift on climate change mitigation and the energy transition presents heightened risks and commercial opportunities.
Mexico's REDD+ Projects: Update on GHG Emissions Avoidance
Mexico is continuing its efforts to promote sustainable rural development and implement national forest carbon stocks.
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