Publication
UK Carbon Border Adjustment Mechanism: how will it work?
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Canada | Publication | April 2, 2024
On March 22, Global Affairs Canada (GAC) quietly updated its Frequently Asked Questions page about Canadian sanctions. The trade bar has regularly advocated for more guidance from GAC on Canadian sanctions laws over the last two years, especially on ambiguous provisions such as the deemed ownership provision, which can lead to different or uncertain interpretations. This lack of guidance exposes Canadian companies to risk and overcompliance, and is striking when compared to the much more robust guidance provided by the Office of Foreign Assets Control in the United States and Office of Financial Sanctions Implementation in the United Kingdom.
The update adds four new sections to the FAQ guidance that discuss:
The updated FAQs are not law, but they are indicative of GAC’s interpretation of sanctions. While the updated FAQs provide limited insight, they largely confirm GAC’s broad interpretation of the provisions. Most notably, GAC has taken the position that the facilitation offence provisions cover dealings with non-Canadian third parties that are themselves dealing with designated entities. That said, key ambiguities and questions remain, including on the deemed ownership provisions. Without further guidance, a conservative approach to the sanctions provisions is prudent.
Publication
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Publication
International financial markets have started to show significant interest in nature and biodiversity. Whilst climate change and greenhouse gas emissions have made the headlines in recent years, there has been much less focus on their equally important counterparts, nature and biodiversity. However, that has started to change.
Publication
In April 2024, the UK Government published details of its sustainable aviation fuel mandate (the UK SAF Mandate) and launched a consultation on proposals for a revenue certainty mechanism to support UK sustainable aviation fuel (SAF) production.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023