Climate Change
Climate change is a critical challenge for organisations.
The effects are causing significant shifts in corporate strategy and compliance management.
The Paris target of limiting warming to 1.5 degrees represents the 'north star' for these shifts, but organisations face the challenge of fragmented domestic implementation of this international target.
Alongside this challenge, the regulatory response to climate change also presents significant opportunities, with new markets and technologies developing as part of the transition towards a lower carbon economy.
How we can help
In line with our commitment to sustainability, we were the first Australian law firm to be certified carbon neutral
Through the Australian Government's Climate Active Carbon Neutral Program, sourcing high-quality carbon offsets in partnership with the Qantas Future Planet Program, we seek to support projects with social and economic co-benefits, including Indigenous carbon farming projects in Northern Australia.
We are proud to be members of the Carbon Markets Institute.
Experience
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.
National Greenhouse and Energy Reporting Scheme (NGERS)
Advised a large range of clients on their compliance with the NGERS, including Rio Tinto, Eni Australia, Macquarie Capital Advisers, Newcrest Mining, IPR-GDF Suez, Woodside Energy, Xstrata, LinkWater, SunWater, QWI, Tassal, Port of Brisbane and CB Richard Ellis.
Carbon pass-through clauses
Advised clients on the opportunities and risks associated with the Emissions Reduction Fund, which expanded the pre-existing land sector-based Carbon Farming Initiative and the proposed Safeguard Mechanism. Our experience includes assisting the Wiliggin Aboriginal community in the North Kimberly region of Western Australia.
Emissions Reduction Fund and Carbon Farming Initiative
Advised clients on the opportunities and risks associated with the Emissions Reduction Fund, which expanded the pre-existing land sector-based Carbon Farming Initiative and the proposed Safeguard Mechanism. Our experience includes assisting the Wiliggin Aboriginal community in the North Kimberly region of Western Australia.
Wind farm projects
Acting for sponsors and financiers, our roles have involved advising on planning and development approvals, the environmental assessment process, land tenure issues, construction issues, joint venture arrangements, investment structuring and taxation issues.
Biosequestration
Advised on agricultural and forestry offsets projects to offset carbon dioxide emissions in New South Wales, Victoria, Queensland and Western Australia.
Emissions abatement projects under the Clean Development Mechanism
Advised Macquarie Global Investment on the establishment of an incorporated joint venture (BioCarbon Group Pte Ltd), with the International Finance Corporation and others, to deliver avoided deforestation projects, initially in Indonesia.
Carbon pricing disputes
Advised both suppliers and purchasers of electricity on disputes regarding the pass-through of carbon costs under their electricity supply contracts.
Mine development
Advised on climate-related litigation relating to the development of coal mines, including advising clients on the implications for the sector of the recent Rocky Hill decision in the NSW Land and Environment Court.
Carbon capture and storage
Advised the Victorian Government on the Commonwealth carbon capture and storage legislation, and in relation to proposed Victorian carbon capture and storage legislation.
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.