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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
Global | Publication | July 21, 2017
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On July 19, 2017 the Corporate Finance Faculty of the ICAEW published a consultation paper setting out its plans to update “Prospective Financial Information: Guidance for UK Directors” published in 2003 (2003 Guidance). The 2003 Guidance sets out a framework of principles and application notes for preparing and publishing prospective financial information (PFI) in a capital markets transaction context. The definition of PFI comprises “primary financial statements and elements, extracts and summaries of such statements and financial disclosures drawn up to a date, of for a period, in the future”. As a result it includes profit forecasts and warnings, working capital statements, merger benefit statements and a range of other financial projections.
Following initial soundings on its proposals from stakeholders and market participants, the ICAEW is now seeking input on a number of proposals and consultation questions including the following:
The deadline for responses to the consultation paper is October 31, 2017. The ICAEW hopes to publish a response statement and a further public consultation on the exposure draft of the new guidance in the second quarter of 2018, with the new technical guidance for preparers of PFI, replacing the 2003 Guidance after a transition period, being available in the first quarter of 2019.
(ICAEW, Consultation paper on prospective financial information, 19.07.17)
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.
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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.
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