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
Global | Publication | November 14, 2017
The US House walked back a provision in its tax-cut bill that has frozen the wind tax equity market.
The draft bill the House tax committee released on November 2 would make wind companies prove "continuous construction" work after 2016 on any projects that are completed in 2017 or later to qualify for production tax credits at the full rate of 2.4¢ a KWh.
The House bill remains as drafted.
However, the report the House tax committee released this afternoon explaining what the bill does says that the provision "is intended to codify" the existing IRS policies. While the IRS requires continuous work on projects after the year in which construction started, it does not make any developer prove this for projects that are completed within four years.
The full House is expected to vote on the tax-cut bill as early as Thursday.
Meanwhile, a separate version of the tax-cut bill taking shape in the Senate would leave in place the existing tax credits for wind and solar and the IRS policies implementing them. The Senate tax committee is marking up the Senate version this week. The full Senate is expected to vote on its bill after Thanksgiving. The two houses will then have to agree on a common text.
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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