Carbon offsetting
Produced in partnership with Begonia Filgueira FIEMA of Acuity Legal
Carbon offsetting

The following Environment practice note produced in partnership with Begonia Filgueira FIEMA of Acuity Legal provides comprehensive and up to date legal information covering:

  • Carbon offsetting
  • Brexit impact
  • The Kyoto Protocol and reducing emissions
  • What is carbon offsetting?
  • The carbon market
  • Parties involved
  • The commodity
  • The two types of market
  • The compliance market
  • CDM
  • More...

Carbon offsetting

Brexit impact

11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. Any changes relevant to this content will be set out below. For further guidance, see Practice Note: Brexit—impact on environmental law and News Analysis: Brexit Bulletin—key updates, research tips and resources.

The Kyoto Protocol and reducing emissions

The Kyoto Protocol (the Protocol) is an international agreement adopted by the United Nations Framework Convention on Climate Change (UNFCCC), which commits its parties (including the UK and the EU) by setting internationally binding emission reduction targets. It was adopted on 11 December 1997 and entered into force on 16 February 2005.

The first commitment period under the Protocol started in 2008 and ended in 2012. A second commitment period runs from 1 January 2013 to 31 December 2020 for those Annex I (industrialized) Parties (including the UK and the EU) who agreed to take on new commitments. The UK accepted this second commitment (Doha amendment) on 17 November 2017.

The differences between the first and second commitment are:

  1. new rules on how developed countries are to account for emissions from land use and

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