Climate Change > Speaking Sustainability
19 Nov '21

Reflecting back on the 26th meeting of the Conference of the Parties to the U.N. Framework Convention on Climate Change (UNFCCC), or “COP26,” it may well become known as the “Pledge and Commitment COP.” Governments, businesses, multilateral institutions and civil society focused their two weeks in Glasgow on how to “get things done” to limit the planet’s rising temperatures to 1.5°C from pre-industrial levels. The apparent solution: pledges and commitments. Now comes the hard work: adhering to these pledges and commitments, with clearly defined milestones, in a transparent and accountable manner to ensure environmental integrity.

Read More

10 Nov '21

The long anticipated 26th United Nations Climate Change Conference of the Parties (COP26) kicked off last week in Glasgow and we have been closely monitoring the events of the conference, particularly where Singapore and the wider Asia Pacific region are concerned. COP26 has been labeled as the “last chance saloon1” for averting disastrous climate change and delegations from countries around the globe are working tirelessly to reach agreement on key issues which, if resolved, have the ability to potentially assist in stemming the tide of global warming. Over the course of the first week of COP26, a number of significant announcements were made, which can be summarized as follows:

  • Coal – The United Kingdom, together with the support of a 190-strong coalition of nations and organizations, launched a proposal to phase out coal power and end support for new coal-fired power plants set out in the “Global Coal to Clean Power Transition Statement” (the “Statement”). The Statement commits to:
    • End all investment in new coal power generation domestically and internationally.
    • Rapidly scale up and deploy clean power generation.
    • Phase out coal power in the 2030s for major economies and by 2040 for the rest of the world.
    • Ensure a just transition away from coal power in a way that benefits workers and communities.

Read More

02 Nov '21

What is green finance?

The term “green finance” refers to financial products and services provided for project investment and financing, project operation and risk management in sectors such as environmental protection, energy efficiency, clean energy, green transport and construction, with the aim of supporting environmental improvement, responding to climate change and encouraging resource conservation, efficient use and other economic activities. Put more simply, green finance involves the engagement of traditional capital markets to create financial products and services which deliver both investable returns and environmentally positive outcomes1. According to the United Nations Environment Programme, green financing is intended to “increase the level of financial flows (from banking, micro-credit, insurance and investment) from the public, private and not-for-profit sectors to sustainable development priorities.” 2 In doing so, green finance not only offers investors a return on their investments, but also the additional benefit of being environmentally responsible.

Read More

08 Oct '21

Akin Gump was pleased to recently host its inaugural global virtual Environmental, Social and Governance (ESG) Summit. ESG leaders and Akin Gump lawyers and advisors shared their perspectives on a wide range of topics at the forefront of ESG—including key developments and risk factors for investors, companies and stakeholders both in the United States and internationally.

Read More

05 Oct '21

The November 15, 2021, deadline is approaching to submit comments to the Treasury Department’s Federal Insurance Office (FIO) on its Request for Information (RFI) seeking input on FIO’s future work concerning the insurance sector and climate-related financial risks. This work will initially cover three “climate-related priorities”: (1) identifying issues or gaps in states’ regulation and supervision of insurers; (2) assessing potential disruptions of insurance coverage in U.S. markets especially vulnerable to climate impacts and (3) enhancing FIO’s engagement on ways the sector can help achieve national climate mitigation and adaptation goals.

Read More

08 Sep '21

Carbon capture, utilization and storage (CCUS) looks set to become one of the next major talking points in energy, as countries around the globe struggle to reduce carbon dioxide (CO₂) emissions and fulfil commitments to reduce production of greenhouse gasses. In this article we explore the CCUS sector and consider its potential contribution towards sustainability efforts.

Read more

Read More

08 Sep '21

The launch of Singapore’s Green Plan 2030 (Green Plan) in February this year is likely to mark a turning point for the island state’s energy sector. As Singapore looks to create a more sustainable society, it will become increasingly focused on low-carbon energy, including hydrogen. In this article we consider some of the key aspects of the Green Plan, from an energy perspective, and take a look at some of the initiatives in the hydrogen sector which are currently being undertaken in Singapore.

Read more

Read More