The 28th Conference of the Parties on Climate Change (COP28) will take place from November 30 - December 12, 2023 in Dubai.
As we continue to feel the impacts of climate change with record temperatures across Europe and the US, wildfires and seeing the hottest week ever recorded globally at the beginning of July, this Summit could be one of the most important yet. The organizers of COP28 have announced a two-week thematic program, structured by the following “cross-cutting themes”: technology and innovation, inclusion, frontline communities and finance.
We have been tracking the negotiations to date, and as always our lawyers will be on the ground in Dubai to provide you with key takeaways from the conference.
What happened at COP27?
This is the COP where negotiators accepted that keeping alive the aim of limiting temperature rise to 1.5 degrees requir...
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Events and webinars
LISW23: Shipbuilding Contracts, Technological Innovation and Decarbonisation
For shipping to meet global decarbonisation objectives, new technology and alternative fuels will be critical. The recent boom in demand for newbuilding vessels has been driven partly by the need to move away from older vessels which will struggle to meet increasingly stringent decarbonisation targets.
Seminar: UK Carbon Capture and Storage (CCS) and its application in shipping business models
Carbon capture and storage (CCS) is going to play an important role in decarbonisation and net zero ambitions and shipping has the opportunity to be integral to CCUS projects.
EU Taxonomy Regulation and aviation: A transition to sustainability
On 5 April 2023 the long-awaited draft amendment to Delegated Act EU 2021/2139 including draft technical screening criteria in Annex 1 (the Draft Delegated Act) was published by the European Commission heralding the inclusion of aviation as a transitional activity within the EU Taxonomy Regulation. Following consultation, the draft was then updated on 13 June 2023 and published as part of the European Commission’s sustainable finance framework.
Oil Price Cap Risks: Evasion, enforcement, and the environment
There continues to be increasing rhetoric on the monitoring and enforcement of the G7 and Australia’s (“Coalition”) Price Caps on Russian crude oil and petroleum products (“Price Caps”).
Sustainable offshore platform decommissioning
Since 1950, over 12,000 offshore oil and gas platforms have been installed globally.
Energy transition newsletter: Issue 3
Insights from our global team on the frontline of legal innovation and solutions for the energy transition Stay in touch with the latest in the transition by subscribing to our newsletter. Register
Human Rights Due Diligence in the EU
Human rights and environmental due diligence ("HRDD" or “HREDD”) requirements introduced or proposed in several European countries in recent years – particularly the German Supply Chain Act which came into force this year – pose unprecedented compliance challenges for multinational companies.
With the debt burden in certain emerging markets approaching unsustainable levels, Eurobond maturities requiring active management and with a climate crisis advancing, governments, creditors and the official sector are exploring new and innovative ways to restructure and reprofile sovereign debt, while simultaneously supporting opportunities to tackle climate-related challenges. Debt-for-nature swaps offer a solution.
Court declines permission to bring climate related derivative claim against energy major’s directors
On 12 May 2023, the High Court in London refused permission to allow claimants to bring a derivative claim on behalf of Shell plc (Shell) against its directors. The proposed claim concerned Shell’s climate risk strategy.
Update on the EU’s latest proposals regarding Sustainable Aviation Fuel (SAF)
In July 2021, the European Union (EU) released the ‘Fit for 55’ package, a set of proposals to update EU law in order to meet the EU’s aims of reducing net greenhouse gas emissions by 55% by 2030. These included a draft ReFuel Regulation to encourage the use of SAF, which we examined in our article New regulatory initiatives supporting Sustainable Aviation Fuel.
The developing legal and regulatory regime for ESG in the Middle East and emerging D&O exposures
With an ongoing focus by governments and regulators on environmental, social and governance (ESG) principles, global businesses are becoming more aware of the risks that organisations and company boards face and are taking proactive steps to manage and mitigate ESG risk.
Earth, Wind and Solar: Conversations on renewable energy and infrastructure in emerging markets
Earth, Wind and Solar features conversations on renewable energy and infrastructure in emerging markets.
Currents features in-depth discussions on the latest developments in project finance.
Climate change and sustainability disputes
Climate change and sustainability developments presents great opportunities but also manifest as a complex myriad of global legal, financial and reputational risks for companies, governments, directors and officers and other professionals operating in all sectors globally.
Norton Rose Fulbright receives ‘Most Sustainable Aviation Law Firm’ at Airline Economics’ Sustainability Awards
Global law firm Norton Rose Fulbright has been named the ‘Most Sustainable Aviation Law Firm’ by Airline Economics at this year’s Sustainability Awards.
London team advises on financing of three Sukkur solar PV power projects
Global law firm Norton Rose Fulbright has advised Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Faysal Bank Limited and other Pakistan banks on the non-recourse debt financing of the Helios, Meridian and HNDS solar PV power projects in Sukkur, Pakistan.
London office advises on sustainability and gender diversity linked loan
Global law firm Norton Rose Fulbright has advised ABN AMRO, as documentation agent and sustainability coordinator for a syndicate of lenders, on a $200m sustainability and gender diversity linked loan to Navigator Gas L.L.C. (Navigator) for the re-financing of ten LNG carriers.
Our commitment to sustainability
We aim to minimize our impact on the environment – to protect the planet, ensure that resources are available for future generations and create a better quality of life for all living beings. We integrate sustainability best practice into all our decision-making and business activities. We recognize our responsibility to address environmental issues that jeopardize the earth’s ecosystems and the future of our communities and as a firm we work on reducing our environmental footprint and are active on many pro bono projects in the areas of sustainability.
Norton Rose Fulbright supports the Sustainable Development Goals. We have adopted the UN Sustainable Development Goals as our overarching guiding principles. With the goals being the blueprint to achieve a better and more sustainable future for all, we focus on those where we can have the greatest impact.