On 19 April 2023, the European Parliament adopted the final text of a new EU Regulation aimed at tackling deforestation and forest degradation (the “Deforestation Regulation”) requiring companies to undertake due diligence into the source of a wide range of commodities, including cattle, cocoa, coffee, palm-oil, rubber, soya and wood, to ensure…
At the Ahead of Tax & Legal Conference 2023, taking place on 1 June 2023, Baker McKenzie tax and legal experts will highlight three important themes: race to net zero, innovation and the international business climate.
Clean hydrogen plays a critical role in net zero strategies of the world’s leading economies. The US and the EU have already taken significant steps to position themselves at the forefront of the global race to net zero by launching state support packages on an unprecedented scale. Please join Baker McKenzie’s experts on 19 April 2023 at 3:00 pm GMT for a compare and contrast discussion of the US Inflation Reduction Act and the Green Deal Industrial Plan for the Net-Zero Age with a focus on hydrogen.
On 10 February 2023, the European Commission finally adopted the Additionality Delegated Act, which outlines conditions under which hydrogen, hydrogen-based fuels or other synthetic fuels can be considered as renewable fuels of non-biological origin (RFNBOs).
This alert analyses the Additionality Delegated Act and its impact on the hydrogen market.
On 10 February 2023, the European Commission finally adopted the Methodology Delegated Act, which provides the methodology for calculating life-cycle greenhouse gas emissions for RFNBOs, which is necessary to determine whether or not they comply with the EU’s GHG emissions thresholds applicable to such fuels.
This alert analyses the Methodology Delegated Act.
On 1 February 2023, the European Commission released its communication on a “Green Deal Industrial Plan for the Net-Zero Age”. This Communication outlines the actions that the Commission intends to take to stimulate investment in the “net-zero industry” within the EU. The Communication is a response to recent increases in state support outside the EU, most notably the United States Inflation Reduction Act.
Energy transition is the biggest change that the world is undergoing right now. The EU is taking significant steps to position itself at the forefront of the global race to net zero.
The EU has a legally binding target to achieve net zero by 2050. EU countries also already have very advanced plans for achieving net zero and energy security, accompanied by financial state support packages on an unprecedented scale. These measures have just been taken to the next level, making the EU an even more attractive market for investors in the energy transition.
Our latest sustainability guide, ESG Policy Guide – The Future of Sustainability Legislation for Luxury, has been developed in collaboration with Positive Luxury, the company behind the Butterfly Mark, a unique mark awarded to luxury lifestyle brands, retailers and suppliers in recognition of their commitment and verified actions to creating a positive impact on our world. It features recent and upcoming developments in ESG legislation and policies in the US, UK and the EU and explains how these impact the luxury, fashion, and cosmetics industries.
The EU has politically agreed on the adoption of the Corporate Sustainability Reporting Directive, and will likely adopt it before the end of 2022. The CSRD will overhaul the current sustainability reporting landscape for all multinational companies with significant activities in the EU, including those headquartered outside the EU. The reporting obligations of the CSRD will progressively come into force between 2024 and 2028.
On 14 September 2022, the European Parliament voted to adopt its negotiating position on the revision of the Renewable Energy Directive II. The Parliament agreed that its position should include a new headline target that 45% of all EU energy use would be sourced from renewable sources by 2030, and upward revised sectoral targets for buildings, transport and heating compared to the European Commission’s proposal.
There have been suggestions in the media that the EU ‘additionality’ requirements applied to the production of renewable fuels of non-biological origin, such as renewable hydrogen, have been effectively scrapped. This article clarifies the legal position in relation to the current status of the ‘additionality.’