Climate change: realising net zero

The continuing global shift towards decarbonisation means 80% of the world economy is now covered by net zero pledges.

Governments and companies are increasingly committing to climate action with many realising the global economic benefits of investing in net zero by 2050 would outweigh the costs, while failing to tackle climate change could cost the world an average of $1.7 trillion a year.

The regulatory response to climate change presents significant opportunities, with new markets and technologies developing as part of the transition towards a lower-carbon economy. Organisations that are on board and prepared will likely see enormous flows of capital and benefits, while those that are moving too slowly face being left behind.

There is no ‘one size fits all’ approach as we move towards a carbon-constrained future. Organisations will need to continue to commit to, and deliver on, targets; provide accurate and relevant information to the market; and be open to change as the landscape evolves.

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Working with our clients

Voluntary carbon offsetting

Advised financial sector clients to procure carbon units to become carbon neutral by voluntarily procuring carbon offsets. This involved advising on the National Carbon Offset Standard, as well as negotiating tailored ISDA documentation for the staged transfer of carbon units.

Mitsubishi on acquisition of Australian Integrated Carbon

On the acquisition of a 40 per cent interest in Australian Integrated Carbon Pty Ltd (AIC), a carbon farming developer who assists landholders in generating Australian carbon credit units.

Carbon Pricing Scheme

Advised clients, including Rio Tinto, Woodside Energy, Newcrest Mining and Xstrata, as well as numerous electricity generators, gas transporters, LNG/gas producers and electricity/gas retailers, on their compliance with the previous federal carbon pricing scheme.