Latham.London

Tag Archives: environment

PRI’s Private Equity Terms Guidance Focuses on Environmental, Social, and Governance (ESG) Factors

By Paul Davies and Michael Green On 13 July 2017, Principles for Responsible Investment (PRI) launched guidance on incorporating environmental, social, and governance (ESG) provisions in private equity fund terms. The publication, Incorporating Responsible Investment Requirements into Private Equity Fund Terms (the Guidance), followed a year-long consultation period with PRI signatories, expert counsel, and industry … Continue Reading

Proposed Draft Legislation Clamps Down on Soil Pollution in China

By Paul Davies and Andrew Westgate On 22 June 2017, Chinese legislators released draft proposals to combat soil pollution in China at a bimonthly session of the Standing Committee of the National People’s Congress. The legislation complements the State Council’s ambitious plan to address soil pollution – an area not specifically covered by Chinese environmental law … Continue Reading

A New European Standard for “Green Finance”

By Paul Davies and Michael Green The High Level Expert Group on sustainable finance  (the Group), which the European Commission (the EC) established, published its interim report on 13 July 2017. The report sets out the key steps required to create a financial system that supports sustainable investment, as well as identifying areas for financial … Continue Reading

Will Tougher Environmental Laws Mean Measurable Change for Pollution in China?

By Paul Davies and Andrew Westgate In reforming and updating its environmental laws, China has until recently been focusing on air pollution. Attention is now turning to addressing water and soil pollution as well. For example, the Chinese government is now considering more robust penalties for those responsible for water pollution, indicating that the government … Continue Reading

European Commission Proposes Action to Streamline Environmental Reporting

By Jörn Kassow and Eun-Kyung Lee On June 9, 2017, the European Commission (EC) published its Action Plan to Streamline Environmental Reporting (COM(2017) 312), summarising the findings of its review of reporting requirements following the 2015 ‘Better Regulation Initiative.’ As part of this 2015 Initiative, the EC carried out a fitness check focused on assessing environmental … Continue Reading

Pharmaceuticals in The Environment: What will EU Environment Roadmap Mean for Pharmaceuticals?

By Paul Davies, Elisabetta Righini and Rosa Espin On 28 April 2017, the European Commission (the EC) published a “roadmap” on the strategic approach to pharmaceuticals in the environment, particularly in the aquatic environment. Concurrently, the EC launched a 12-week open public consultation to address the environmental pollution caused by human and veterinarian pharmaceutical substances. … Continue Reading

China Increases Focus on Electronic Waste

By Paul Davies and Andrew Westgate As a world leader in the manufacturing of electronic devices, China is beginning to reform its rules and regulations to ensure that the resulting framework is able to keep pace with the rapid developments now taking place in this sector both in China and globally. Two recent developments in … Continue Reading

“Spain United for Climate”: The Proposed New Climate Change and Energy Transition Law

By Paul Davies and Rosa Espin Spain is leading the fight against climate change with a proposed new Climate Change and Energy Transition Law. The Spanish government regards climate change as one of the greatest challenges facing the country. Since 22 April 2016, the Paris Agreement (which sets out a global action plan to avoid … Continue Reading

Belt and Road Forum Positions China as Leading Proponent of Global Trade

By Paul Davies, Michael Green and Andrew Westgate Leaders from around the world, including 20 heads of state, attended the Belt and Road Forum for International Cooperation in Beijing on May 14-15. The attendees at the forum agreed on guiding principles for the initiative, and the Asian Development Bank, the European Investment Bank, the New Development … Continue Reading

The OECD’s View on Integration of ESG Issues into Investments – What Next?

By Paul Davies and Michael Green The Organisation for Economic Co-operation and Development (OECD) published a report (OECD Report) on investment governance and integration of environmental, social and governance (ESG) factors on 2 May 2017. The OECD Report develops work already carried out by the organisation on the regulation of investment companies and pension fund … Continue Reading

Conservation Finance: An Increasingly Attractive Concept for Investors?

By Paul Davies and Michael Green Broadly defined, conservation finance is the raising of capital to support the conservation of land, water and resources. This concept started with “debt for nature” swaps during the 1980s and 1990s whereby developing countries agreed to protect ecosystems using revenues freed up by sovereign debt relief (such deals usually … Continue Reading

Ministry of Environmental Protection Steps-up “War on Pollution”

By Paul Davies and Andrew Westgate Earlier this month, during a round of surprise inspections, Deputy Minister of the Ministry of Environmental Protection Zhao Yangmin publicly shamed the city officials of Langfang, a city in Hebei province, for failing to take action after a severe pollution warning was issued on April 2, 2017.  Deputy Minister … Continue Reading

Update: Stricter EU Environmental Performance Standards to Apply to Large Combustion Plants by 2021

By Jörn Kassow and Patrick Braasch Emissions from approximately 2,900 large combustion plants in the EU, including coal-fired power stations as well as peat, oil and gas power plants, are now likely to be subject to stricter environmental performance standards. These updated standards (“Best Available Techniques Conclusions for Large Combustion Plants” – BREF LCP), based on … Continue Reading

Trouble Ahead? Lobbying Underway to Prevent the Extension to the Industrial Emissions Directive

By Paul Davies, Michael Green and Kristof Ferenczi The Industrial Emissions Directive (IED) is the main EU instrument that regulates emissions from industrial installations (including power stations) and came into force on 6 January 2011. Its objective is to achieve a high level of protection for the environment and human health by reducing harmful industrial … Continue Reading

France Adopts a New Law Requiring Companies to Diligence their Supply Chains in Relation to Human Rights, Environmental, and Health and Safety Issues

By Paul Davies and Michael Green On March 27, 2017, the French Parliament adopted a Law On The Duty Of Vigilance For Parent And Subcontracting Companies. The law amends the Commerce Code and requires companies to establish and implement a plan for diligencing human rights, environmental, and health and safety issues in their supply chains. … Continue Reading

China’s Securities Regulator Issues New Green Bond Guidelines

By Paul Davies, Aaron Franklin, and Andrew Westgate The China Securities Regulatory Commission (CSRC) released new guidelines (the Guidelines) on the issuance of green bonds on March 2, 2017, marking an important step in the development of what is now the world’s largest green bond market, accounting for 39% of global issuances by principal amount issued … Continue Reading

US Environmental Regulations to Face Rollbacks, but Reform likely to be Tempered by Legal Barriers

By Joel Beauvais, Claudia O’Brien, Bridget R. Reineking and Andrew Westgate. Since assuming office in January, President Donald Trump – with the support of Congress – has stated his intention to roll back “burdensome” U.S. environmental regulations. The White House and Congress aim to reverse several of President Obama’s regulations on air and water pollution, land … Continue Reading

The Erosion of Cost Caps – at the Expense of Bona Fide Environmental Challenges?

By Paul Davies and Samuel Pape Key changes to the Protective Cost Order regime (PCO) came into force on 28 February 2017, which could directly limit the ability of individuals and organisations to bring environmental-related legal challenges in England and Wales. Background The PCO was introduced in 2013 in part due for the purposes of … Continue Reading

“Final warning” on Air pollution from the European Commission

By Michael Green, Elisabetta Righini, Joern Kassow, Rosa Espin, Eun-Kyung Lee, and Cesare Milani. On 15 February 2017, the European Commission (the Commission) sent final warnings (a Reasoned Opinion) to France, Germany, Italy, Spain and the United Kingdom for failing to comply with the air pollution limits for nitrogen dioxide (NO2). Under EU law, Directive 2008/50/EC on … Continue Reading

Wind Power Overtakes Coal in Europe

By Paul Davies and Rosa Espin Last year, 86 % of the 24.5 GW of new generating capacity installed in the EU came from renewable energy sources, specifically from wind, solar, biomass and hydro, breaking the previous record of 79% in 2014. This new water mark makes clear that the EU is seeking to cut … Continue Reading
LexBlog