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In Environment

United States: Green projects get needed guidance on domestic content bonus credit

by and 7 Mins Read

Released 12 May 2023, Notice 2023-38 provides interim guidance on the “domestic content” bonus tax credit amounts available for facilities that generate electricity from renewable resources (e.g., wind and solar facilities) and certain energy storage property. The “domestic content” bonus incentivizes owners of green energy projects to utilize domestically-manufactured materials and components (including steel, iron, and “manufactured products”) by offering them an additional incentive in the form of an increased tax credit for doing so.

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In Environment

Chile: Economic and environmental crimes to be sanctioned in new law

by , and 5 Mins Read

On 15 May 2023, in the context of the parliamentary discussions of the Bill No. 13204-07, which amends various legal bodies to expand the criminal liability of legal entities and regulate the exercise of criminal action with respect to crimes against the socioeconomic state, the Executive is now ready for the Bill’s enactment into law. The main purpose of the Bill is to broaden the criminal liability of companies, systematize economic and environmental crimes and establish their respective penalties.

In Environment

International: Debt for nature swaps – The critical role of the project manager

by , , , , and 1 Min Read

Much has been written about debt for nature swaps and an increasing number of market participants are looking to get involved. In this article, we highlight the critical role of the project manager, whose functions incorporate aspects of a traditional founder, sponsor, arranger and monitoring agent throughout the life of such transactions.

In Environment

Global: AIEN International Energy Summit 2023 – power systems in transition

by and 1 Min Read

At the leading edge of solving key challenges that face the international energy industry, the International Energy Summit offers globally recognized experts and high-profile speakers a forum to share diverse perspectives and knowledgeable insights in a rapidly evolving market. Connect with Baker McKenzie on the ground in Miami on 1 June 2023 at 10:50am EST for AIEN’s annual meeting, where Jose Moran, Global Co-Chair of our Energy, Mining & Infrastructure Group, will lead a discussion on Infrastructure Development & Electrification Challenges in the context of energy transition.

In Trade and Foreign Investment

European Parliament Adopts New Due Diligence Requirements to Tackle Deforestation and Forest Degradation

by , , and 4 Mins Read

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…

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In ESG

Japan: Amendment to the Cabinet Office Order on Disclosure of Corporate Affairs in Japan

by , and 9 Mins Read

On 31 January 2023, the Amendment to the Cabinet Office Order on Disclosure of Corporate Affairs was promulgated and came into force together with its related guidelines. As a result of this amendment, it has become a requirement to include a new section in the Securities Registration Statement (Form 7 or Form 7-5) and Annual Securities Report (Form 8 or Form 8-2) reporting on sustainability-related initiatives and on other matters.

In Environment

Mexico: The new initiative – Another blow to mining?

by , , and 7 Mins Read

On 28 March 2023, the Mexican President introduced a bill to Congress, containing a decree that amends, adds and repeals various provisions of the Mining Law, the National Water Law, the Ecological Balance and Environmental Protection Law, and the General Law for the Prevention and Integral Management of Waste, in relation to mining and water concessions.
Mining is a priority activity for a country’s economic growth, as it provides the minerals and raw materials needed for different industrial sectors. If approved as proposed, this initiative would hamper the development of the sector by restricting the exploration, exploitation and processing of these minerals.

In Environment

Poland: Nuclear reactors report

by 1 Min Read

This report, based on Baker McKenzie’s many years’ experience with nuclear projects around the world, points to the need to implement comprehensive measures in the economic, legal, social and environmental areas, backed by strong and stable state support. This will not only significantly strengthen Poland’s energy security, but also provide a strong impetus to technological progress, new investments, the development of science, and increasing the competitive advantages of Polish companies.

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