The following Environment practice note Produced in partnership with Navraj Singh Ghaleigh of Senior Lecturer in Climate Law, University of Edinburgh provides comprehensive and up to date legal information covering:
As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this content. For further guidance, see Practice Note: Brexit—impact on environmental law and News Analysis: Brexit Bulletin—key updates, research tips and resources.
For further information on the impact of Brexit on emissions trading and carbon pricing, see Practice Note: Brexit—emissions trading and carbon pricing.
Although the contractual context for carbon trading shares similarities with other products, there are a number of features particular to it. This note gives an overview of these features, focusing on those raised in mandatory schemes, principally the European Union’s Emissions Trading Scheme (EU ETS).
For background on the operation and rationale of cap and trade schemes, see Practice Notes: Carbon markets—international emissions trading schemes and Carbon markets—price of Carbon
The scope of those entitled to participate in an emissions trading scheme, market participants, is a key determinant of market liquidity.
Some schemes such as the South Korean ETS restrict trading to regulated entities/installations.
Other schemes, such as the EU ETS, takes the broadest possible approach stating that 'any person may hold allowances' providing they hold an account with
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This Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions typically found in an escrow
ContractWhere a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise may be:•joint•several, or•joint and severalWhether an undertaking is joint, several, or joint and several in contract is a question of construction
This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
For guidance on the basic features of the doctrine of estoppel and the different classifications it has been subject to, see Practice Note: Estoppel—what, when and how to plead and related content.Promissory estoppel—what is it?Where A has, by words or conduct, made to B a clear and unequivocal
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