
Publication
Low carbon projects: Global hydrogen and CCS market insights
Low carbon projects, especially those involving hydrogen and carbon capture and storage (CCS), play a crucial role in the journey towards global decarbonization.
Global | Publication | November 2019
In this edition of Insurance Focus we consider the growing need for insurance companies to take an holistic approach to managing the risks posed by climate change. For many years insurers have been expert at understanding how the weather may impact claims, but regulators are now expecting insurers to consider how the changing climate will impact both sides of the balance sheet.
In Italy, new insolvency laws that are designed to support the maintenance of goodwill look set to impact D&O policies; lawyers from our Milan office discuss the likely impact of the new code.
The ‘fairness revolution’ in Australia continues in the aftermath of Commissioner Hayne’s Royal Commission report. A new contract terms regime to ensure the greater protection of consumers will require a review of existing policy terms.
As China increasingly opens up financial markets to foreign investment, lawyers from our Shanghai office summarize the requirements for operating in the newly liberalized Chinese insurance market.
Our regular case notes section discusses the first case to consider the Insurance Act 2015 and the recent shock in the portfolio transfer market when a UK judge refused to sanction a ‘Part VII’ transfer of annuity business. Also in the UK, the Court of Appeal has recently reviewed the practice of ‘spiking’ mesothelioma liabilities within a policy period. From the Supreme Court in New South Wales we report on a recent case that considers whether section 54 of the Insurance Contracts Act can assist insurers where the insured could not reasonably know of circumstances that might give rise to a claim. Finally, we consider a 2019 decision of the Court of Justice of the European Union that considered the meaning of the Solvency II Directive in respect of location of risk.
We also include a number of short summaries of interesting developments from different jurisdictions.
Publication
Low carbon projects, especially those involving hydrogen and carbon capture and storage (CCS), play a crucial role in the journey towards global decarbonization.
Publication
As a general remark, Indonesia has not, at the date of preparing this summary, issued any regulation on hydrogen production, distribution and trade. It is expected that the upcoming New and Renewable Energy Law will provide a legal framework for the exploitation and utilisation of various new energy sources, including hydrogen.
Publication
Indonesia has committed to achieving Net Zero Emissions by 2060, consistent with its obligations under the Paris Agreement. Carbon capture and storage (CCS) and carbon capture, utilisation and storage (CCUS) are central to this strategy, particularly in the upstream oil and gas sector. Leveraging an estimated 400 gigatons of geological storage capacity, Indonesia is positioning itself as a regional CCS hub in the Asia-Pacific.
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