Category Archives: Climate Change

Shareholders Sue U.S. Corporation for Improper Disclosure of Environmental Liabilities

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Shareholders and investors are increasingly asking for more information on environmental risks and liabilities. Investors in the United States filed a securities class action lawsuit claiming that a Florida-based corporation misled them by providing inadequate information about the company’s environmental clean-up costs. The lawsuit names Rayonier Advanced Materials Inc. (RYAM), a company specializing in the production of specialty cellulose fibres, and ... Read More »

Ontario Announces Cap and Trade System to Cut Greenhouse Gas Emissions

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April 13, 2015 Today, Ontario Premier Kathleen Wynne announced that the province is introducing a cap and trade system to reduce greenhouse gas emissions (GHG) and put a strong and predictable price on carbon. The news release states that the new system choice “effectively reduces the amount of greenhouse gas pollution in our atmosphere by setting a limit on emissions, ... Read More »

Canada’s Ecofiscal Commission Releases Report Aimed at Reducing Canada’s Greenhouse Gas Emissions

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On April 7, 2015, Canada’s Ecofiscal Commission (“Ecofiscal”) released its report called “The Way Forward: A Practical Approach to Reducing Canada’s Greenhouse Gas Emissions” (the “Report”), which discussed the most cost-effective and practical approach to lowering greenhouse gas emissions in Canada. Some key points from the Report include: Given the significant cost to Canadians from delaying policy action on climate ... Read More »

U.S. Establishes New Federal Flood Risk Management Standard to Account for Climate Risks

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On Friday (January 30, 2015), President Obama issued an executive order requiring all federally-funded construction projects to adopt more stringent siting and building standards to account for increased flooding risks linked to climate change.[1] The policy is aimed to “improve the resilience of communities and [protect] Federal assets against the impacts of flooding.”[2] Most agencies currently rely on historical flood data ... Read More »

Lima UNFCCC COP20

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The 20th session of the Conference of the Parties (COP 20) of the United Nations Framework Convention on Climate Change (UNFCC)  will be held in Lima, Peru from December 1 to 12, 2014. Throughout the conference,  we will be providing updates and insights. For more information on this year’s conference, click here. For more information on the UN Framework Convention on Climate ... Read More »

OPA Released New FIT/microFIT Price Schedule

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On September 30, 2014, the Ontario Power Authority (“OPA”) released a new FIT/microFIT Price Schedule (the “Price Schedule”). The Price Schedule will apply to any FIT contracts offered after September 30, 2014, including contracts offered through the extended FIT 3 program and will be effective on January 1, 2015 for the microFIT program. The Price Schedule was made in response ... Read More »

Economic Growth and Climate Action Can Be Achieved Together, Global Commission Report Finds

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In the lead up to the UN Climate Summit, an independent group of economists, politicians, academics and leaders[1] released a major that will help frame climate discussions.  The report, entitled “Better Growth, Better Climate,” examines the possibility of achieving sustainable economic growth while also addressing the risks of climate change.  It concludes that “all countries at all levels of income ... Read More »

Canada Makes Headway on National Energy Strategy

Canadian Provincial Flags

Canadian premiers have agreed to the development of a National Energy Strategy.[1]  This came at the end of last week’s three-day Council of the Federal Premiers Conference.  A set of guiding principles for the strategy – endorsed by every province – was released following the 55th annual Conference, hosted by P.E.I.’s Robert Ghiz in Charlottetown this year.[2]  The strategic outline ... Read More »

Quebec and Ontario Partner to Address Climate Change and Potentially Expand Trade of Electricity

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On August 21, 2014, in a joint release (the “Release”), Ontario Premier Kathleen Wynne and Quebec Premier Philippe Couillard announced the creation of a group to support their provincial ministers responsible for the environment and climate change to enhance cooperation between the two provinces as well as the exploration of the viability of expanding the Quebec-Ontario electricity trade. The Premiers ... Read More »

Climate Change Mitigation: Significant Efforts Required in the Next 15 Years

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In early April of this year, the Nobel Prize winning Intergovernmental Panel on Climate Change (“IPCC”)[1] approved and released the contribution of Working Group III (the “Report”), the third report to make up the Fifth Assessment Report, which presents a comprehensive, objective and policy-neutral discussion of climate change mitigation. The Report discusses international stocks and flows of greenhouse gases (“GHGs”) and ... Read More »