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Clean Energy, Technology and Carbon Investment
- Law and Policy Alert |
March 2008 | |
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Introduction
Alistair Crellin
Welcome to this Law and Policy Alert on the rapidly developing set of laws and regulations aimed at combating climate change.
This edition focuses on developments in the UK, though in part these reflect European Union legislation, particularly the Renewables Directive. We are tracking legislative developments in each EU Member State and in future Alerts shall report on how each Member State is intending to implement the Renewables Directive. It is likely that methodologies, subsidies, feed in tariffs and other mechanisms will differ widely amongst Member States, and investors in the sector will need to keep up to speed with developments in order to identify the most advantageous regime.
Future Alerts will include the following topics:
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Aviation and Greenhouse Gas mitigation
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Corporate Social Responsibility (CSR) and environmental reporting requirements
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Planning policy and the influence of climate change
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Automotive industry - effect on the design of vehicles
To read more, click here>>
Feature article
Global warming and the ICT sector
Karl Delport
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Scientists generally now agree that global warming is occurring as a result of humans burning fossil fuels and releasing carbon into the atmosphere. The business awareness and management of the risks and opportunities from global warming is mixed in the UK information, communications and technology (ICT) sector.
It is estimated that the ICT sector consumes about 10% of all electricity in the UK, which is comparable, in terms of carbon emissions, to the aviation sector. Some ICT businesses have already, or are now, establishing internal teams to investigate and reduce their contribution to global warming; others are waiting to see what legislative requirements they will need to comply with.
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Energy sector focus
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The Internal Energy Market, Competition and the Environment: three policies unite in battle against Climate Change
Jeremy Robinson
This is an abridged version of an Alert released on 23 January 2008. To obtain the full version, please click here>>
At a glance:
Environment
General: 20/20/20 by 2020: 20% reduction in Greenhouse Gasses (GHGs), 20% greater energy efficiency, 20% share by renewables.
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20% of fuel by 2020 (8.5% today)
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Individual national targets
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10% of biofuels in transport
Carbon Capture and Storage
Environmental State Aid
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More economically-coherent investment aid in renewables and energy efficiency
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Wider scope, greater aid intensity
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Real Estate & Banking News
Built to last, part 1
Linda Fletcher
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With the announcement by the EU on 23 January 2008 of a three limbed package of measures to tackle climate change , you may be wondering how this affects you as a property owner, developer, investor, lender, manager or occupier.
The package set for the UK is ambitious and includes a reduction of 16% in UK GHG emissions by 2020 from 2005 levels from sectors not covered by the current EU ETS, for 15% (current requirement is 1.3%) of the energy consumed in the UK to come from renewable sources by 2020 and for 10% of road transport fuels to come from renewable sources.
To read more click here>> |
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The Netherlands
New incentive scheme for sustainable energy
Alistair Crellin |
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Details have emerged of the new subsidy system to replace the MEP (Environmentally Friendly Electricity Generation) scheme. The MEP scheme provided a guaranteed 10 year fixed subsidy for electricity generated from renewables. The Dutch Government has struggled to control costs since introducing MEP, introducing firstly a maximum amount of subsidy in 2006, but terminating the scheme only a few months later on the basis that the target of producing 9% of electricity generation from renewable sources will be met by 2020 by utilising existing subsidies. In February 2007 the Government revised the target for reduction of CO2 , to require a 30% reduction of emissions by 2020, and decided that a new incentive scheme is required to reach the revised target.
To read more click here>> |
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Contact us
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Call or email us with questions you want to have answered in future editions and we shall do our best to accommodate your requests.
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www.twobirds.com |
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This update gives general information only as at the date of first publication and is not intended to give a comprehensive analysis. It should not be used as a substitute for legal or other professional advice, which should be obtained in specific circumstances.
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