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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 | November 2016
On November 8, 2016, under the framework of the National Economic Emergency Decree, the president of the republic passed Decree Nº 2.535 (the Decree) by which Workers Productive Councils (WPC) are created, as published in the Official Gazette of the Bolivarian Republic of Venezuela (OGBRV) N° 41.026 dated November 8, 2016. Hereinafter are the most relevant aspects of the Decree.
The Decree’s goal is to foster the participation of the working class as a leading actor in managing productive activity from working entities that shall support the Sovereign Supply Great Mission, in order to guarantee timely access to goods, food, medicine and other essential products.
All public and private working entities in the country are subject to the Decree, for the purpose of empowering the national productive system in a timely and safe manner for the whole population, thus guaranteeing Venezuelans’ rights to food and health as well as protecting and safeguarding goods and services.
WPCs are made up one representative of youth, one representative of the National Women’s Union, one representative of the Bolivarian Militia, one representative of the Bolivarian National Armed Forces and three workers.
The Ministry of People’s Power for Working Social Process, the Ministry of People’s Power for Defense, the Ministry of People’s Power for Youth and Sports, the Ministry of People’s Power for Woman and Gender Equality shall be in charge of designating the members of the WPC.
WPCs shall be in charge of reviewing, approving, controlling and following up basic programs and projects of the productive process in working entities.
The Minister of People’s Power for Social Working Process and the Ministry of People’s Power for Defense and Strategic Operating Commander shall together prepare a Manual for Rules and Procedures in the WPCs. In addition, the above-mentioned entities shall be responsible for the execution of the Decree.
The Decree became effective from its publishing in the OGBRV, that is, on November 8, 2016.
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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
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Last November the Financial Conduct Authority (FCA) published Policy Statement 23/16 (PS23/16) containing final rules and guidance on sustainability disclosure requirements (SDR) and investment labels (UK SDR regime).
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