Publication
Major overhaul to environmental legislation: What does it mean for you?
Penalties for many environmental crimes will double under the Environment Protection Legislation Amendment (Stronger Regulation and Penalties) Bill 2024.
Global | Publication | July 2018
On 17 July 2018, the Northern Territory (NT) Government released its plan to implement the 135 recommendations of the Independent Scientific Inquiry into unconventional hydraulic fracturing. The plan details how each of the recommendations will be implemented and is grouped under six key themes: Strengthening Regulation, Ensuring Accountable Industry Practise, Safeguarding Water and the Environment, Respecting Community and Culture, Maximising Regional Benefits and Local opportunities, and Planning for Industry.
The NT Government has outlined the following Implementation Stages:
Stage | Action | Completion Date |
Stage 1: Planning |
Establishing an Onshore Shale Gas Community and Business Reference Group. | By July 2018 |
Stage 2: Preparing for exploration |
Implementing 30 priority recommendations from the Report, to allow hydraulic fracturing to commence. | By the end of 2018 |
Stage 3: Exploration and preparing for production |
Implementing the remaining recommendations required before production licences can be approved. | Between 2018 and 2021 |
While the granting of production licenses may be three years away, exploration and development activities are likely to commence before the end of Stage 3. In anticipation of this, there is likely to be increased M&A activity in the area. Oil service companies and ancillary industries may also enjoy an increase in demand as companies seek to lock down arrangements.
Publication
Penalties for many environmental crimes will double under the Environment Protection Legislation Amendment (Stronger Regulation and Penalties) Bill 2024.
Publication
On March 13, the Canadian Sustainability Standards Board (CSSB) published two Canadian sustainability standard exposure drafts – CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information and CSDS 2, Climate-related Disclosures (Draft Canadian Standards).
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