Arbitration analysis: This analysis, produced in partnership with Dr Aygun Mammadzada, Lecturer in Commercial Law at the University of Liverpool, UK, considers how the global transition towards a low-carbon economy is fundamentally reshaping international commerce and, with it, the nature of commercial disputes.

A report, published in July 1995 by the Study Group on Directors’ Remuneration under the chairmanship of Sir Richard Greenbury with a remit to identify good practice in determining directors’ remuneration and to prepare a code of practice for UK PLCs.

This Precedent requires contracting carriers to use energy efficient vehicles for any road carriage under a transport agreement, or otherwise specify that a percentage of road journeys will use green heavy goods vehicles (HGVs).

[means emissions of the greenhouse gases listed at Annex A of the 1998 Kyoto Protocol to The United Nations Framework Convention on Climate Change, as may be amended from time to time including: carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), nitrogen trifluoride (NF3), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs) and sulphur hexafluoride (SF6), each expressed as a total in units of carbon dioxide equivalent (CO2e). OR means [a party’s OR the Company’s/Parties’ OR emissions of Greenhouse Gases from all sources [related to this Agreement/Contract], categorised as Scope 1, 2 and 3 Emissions. OR means a party’s OR the Company’s/Parties’] emissions of Greenhouse Gases from all sources [related to this Agreement/Contract], categorised as Scope 1, 2 and 3 Emissions by The Greenhouse Gas protocol: A Corporate Accounting and Reporting Standard, Revised Edition 2015 as updated from time to time.]

means a standard for the measurement[, reporting] and management of [Greenhouse Gases OR climate forcing emissions] published by [the protocol'>GHG Protocol OR the International Standards Organization OR the BSI Group OR The Carbon Footprint Standard].

Written in partnership with Navraj Singh Ghaleigh, Senior Lecturer in Climate Law, University of Edinburgh Law School. Note that additional commentary on the issues discussed in this Practice Note in the context of the regulation, consenting and incentivisation of the net zero energy transition is available in the following textbook that we have published: Collinson and Hockman on Energy Law: Regulating, Consenting and Incentivising the Energy Transition. What is Greenhouse Gas Removal (GGR)? GGR is an umbrella term for the methods used to capture greenhouse gases directly from the atmosphere and to ensure their long-term storage, so that they no longer contribute to climate change. Unlike emissions reduction, which limits the release of new greenhouse gases, GGR methods focus on removing gases already present in the atmosphere. There are two broad categories of GGR: • nature-based approaches, such as afforestation, soil carbon sequestration, and wetland restoration, which enhance natural systems’ ability to absorb and store carbon • engineered technologies, such as Direct Air Carbon Capture and Storage (DACCS) and Bioenergy with Carbon

Energy analysis: On 27 August 2025, the Department for Energy Security and Net Zero (DESNZ) published a package of documentation on its proposed Greenhouse Gas Removals (GGR) Business Model and related policy. The Lexis+ Energy team, in partnership with Navraj Singh Ghaleigh, Senior Lecturer in Climate Law, University of Edinburgh Law School, highlight the background to the GGR Business Model; how it interacts with the Power BECCS Business Model; the technologies which the GGR Business Model seeks to cover; its legal basis and key features; and its interface with the UK Emissions Trading Scheme (ETS). We also consider the potential implications of the proposed GGR Business Model for market players and highlight some key next steps.

[means the natural and anthropogenic gases which trap thermal radiation in the earth’s atmosphere and are specified in Annex A to the protocol'>Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC) [or otherwise specified by the UNFCCC at the date of this agreement], as may be amended from time to time, which include carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulphur hexafluoride (SF6), and nitrogen trifluoride (NF3), each expressed as a total in units of Carbon Dioxide Equivalent (CO2e). OR means natural and anthropogenic gases that contribute to or accelerate the greenhouse effect by absorbing infrared radiation, including but not limited to: carbon dioxide, methane, nitrous oxide, sulphur hexafluoride, hydrofluorocarbons, perfluorocarbons, chlorofluorocarbons and nitrogen trifluoride.]

Planning analysis: The Court of Appeal has dismissed the claimant’s appeal in which he sought a statutory judicial review of the Secretary of State (SoS)’s decision to grant permission for a gas power station with carbon capture and storage at Teeside. The appeal focused on three grounds, all concerned with the way the decision assessed and weighed in the balance the greenhouse gas emissions associated with the development. These had been acknowledged to be significant for environmental impact assessment (EIA) purposes and had been given significant weight in the planning balance. The first ground alleged an internal logical flaw in the SoS’s reasoning; the second alleged that the SoS had erred in her interpretation or application of a paragraph of the relevant National Policy Statement (NPS); and the third alleged that the SoS failed to reach a reasoned conclusion since she failed to assess the significance of the GHG emissions against a benchmark or other adequate means of contextualisation. All three grounds were rejected in decisive terms by the court. Written by Harriet Townsend KC, barrister, at Cornerstone Barristers.

NOTE—to see whether notification thresholds in Greenland and throughout the world are met, see further: Where to Notify. 1. Have there been any recent developments regarding the Greenland merger control regime and are any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Greenland? Although Greenland is part of the Kingdom of Denmark, Greenland has its own competition regulation as business affairs are a devolved matter. The main legislation on Greenlandic merger control is contained in the Consolidated Greenlandic Competition Act (the Act), which is modelled on the Danish Competition Act, and thereby EU competition law. The main difference from the Danish Competition Act is the notification thresholds, which are significantly lower as well as the newly ‘situated’ criterion. For merger control, the provisions of the Act are accompanied by an executive order on the Notification of Mergers, and an executive order No. 13 of 23 July 2015 on the Calculation of Turnover. In November 2020, legislation was passed to amend the notification thresholds. On 1 January 2021, the new notification thresholds

See NGO.

Also referred to as an over-allotment option, an option given to the lead manager or bookrunner in an IPO or secondary offer to acquire more shares at the offer price in order to stabilise the market in the immediate post-offer period following the share issue. See the definition in Article 1 of the UK Buy-back and Stabilisation Regulation (Retained Regulation (EU) 2016/1052).