by Hardwick Legal | Jul 2, 2021 | Purpose Built (LexisNexis)
<p><strong>Climate change is increasingly becoming a key political issue in countries around the world, particularly in the run up to this November’s crucial international climate change conference (COP26). Our latest news analysis explores the effects, if any, that the focus on environmental protection has had on trade agreements. </strong></p><p>The World Trade Organisation (WTO), which regulates international trade, provides scope for its members to implement environmental protection measures provided they do not fall foul of even-handedness requirements. These sorts of measures have been used before in international, regional and bilateral agreements to address specific domestic environmental concerns such as hazardous substances, as well as concerns abo</p>
Source: LexisNexis Purpose Built
Road to COP26—greening international trade agreement
by Hardwick Legal | Jun 24, 2021 | Purpose Built (LexisNexis)
<p>On Monday 21 June, a group of lawyers and corporate stakeholders from the UK, Australia, and New Zealand came together to kick off <a data-sf-ec-immutable="" href="https://chancerylaneproject.org/">The Chancery Lane Project</a>’s (TCLP) latest event series on Corporate Governance. </p><p><strong>Why corporate governance?</strong></p><p>Corporate Governance refers to the system by which companies are directed and controlled—typically through a board of directors tasked with formulating corporate strategies and managing risks. </p><p>While there is increasingly an expectation that boards will take a strategic approach to climate-related risks, including reputational risks associated with unsustainable practices, corporate documents still largely prioritise profit-maximisation without considering environmental impacts. </p><p>TCLP, an initiative which brings together lawyers and industry stakeholders to draft and peer review climate conscious model contract clauses and laws, hopes to change this. </p><p><strong><span style="text-decoration:underline;"></span></strong></p><p><strong>What took place during Monday’s event?</strong></p><p><strong></strong>In traditional TCLP fashion, t</p>
Source: LexisNexis Purpose Built
The Chancery Lane Project—Greening Corporate Governance
by Hardwick Legal | Jun 17, 2021 | Purpose Built (LexisNexis)
<p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;"><strong>With biodiversity loss being both a cause and consequence of climate change, can we expect to see this pressing issue on the agenda at the </strong></span><strong>26th UN Climate Change Conference (COP26)?</strong></p><p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;">COP26 is set to take place in Glasgow this November and will bring together UN Party representatives to discuss the implementation of the Paris Agreement, a global agreement to keep greenhouse gas emissions below 2</span>°C. While the world has spent the past year preparing for the upcoming summit, the impacts of COVID-19 and an increasing awareness of the economic risks of rampant biodiversity loss have also led to new efforts to stem the damage human activity is causing to ecosystems. </p><p>And these two issues are not unrelated - on the contrary, biodiversity loss can lead to global warming through the removal of natural carbon sinks, while changes in climate create conditions for further ecosystem decline. This relationship does however also provide an opportunity for climate mitigation efforts through nature-based s</p>
Source: LexisNexis Purpose Built
Road to COP26—biodiversity and climate change
by Hardwick Legal | Jun 8, 2021 | Purpose Built (LexisNexis)
<p><strong>Can nuclear fusion, a novel method of generating nuclear energy by replicating the same fusion process that maintains the sun, provide a commercially viable method of producing low-emissions energy? </strong></p><p>Decarbonising the energy sector is a key objective for Parties to the Paris Agreement, being an agreement between 197 nations to limit global temperature increases to 2 degrees Celsius above than pre-industrial levels. At the 26th UN Climate Change Conference (<a data-sf-ec-immutable="" href="https://ukcop26.org/cop26-goals/" target="_blank">COP 26</a>) set to take place this November, Party delegates will discuss how countries can meet their domestic greenhouse gas emission reduction targets under the Paris Agreement, in part by phasing out coal as an energy source and increasing investments in renewable energy. But could advances in nuclear fusion technology make both such methods of clean energy generation obsolete?</p><p>While nuclear fusion is not yet a commercially viable means of producing electricity, developments in research and experimental programmes reveal that fusion technology could soon provide large scale clean energy, while avoiding the safety risks associated with traditional fission nuclear reactors</p>
Source: LexisNexis Purpose Built
Road to COP26—is nuclear fusion the future of clean energy?
by Hardwick Legal | May 26, 2021 | Purpose Built (LexisNexis)
<p><strong>What is the </strong><strong>extent of decommissioning liability under the
Petroleum Act 1998 with regard to wells drilled after the relevant oil field
license had been sold to a third party? </strong></p><p><strong></strong>On 17 May 2021, the Commercial Court handed down judgement in the case of Apache UK Investment Ltd v Esso Exploration and Production UK Ltd <a data-sf-ec-immutable="" href="https://www.bailii.org/ew/cases/EWHC/Comm/2021/1283.html">[2021] EWHC 1283 (Comm)</a>. The case concerned a dispute as to the amount of security to be provided under bilateral decommissioning security agreements (BDSAs) entered into as part of a purchase by Apache from Esso of a company that held licenses in six North Sea oilfields. At the time of the agreements, Apache Corporation, the ultimate parent company of Apache, provided a guarantee in support of Apache’s obligation to indemnify Esso fo</p>
Source: LexisNexis Purpose Built
Case Analysis—Apache v Esso and decommissioning liability under the Petroleum Act 1998
