The European Parliament and Council are in the last stages of the legislative procedure to adopt a Regulation on Batteries and Waste Batteries ("Sustainable Batteries Regulation"), which the European Commission proposed in December 2020. Among other many requirements, the proposed Sustainable Batteries Regulation will require manufacturers to ensure that the portable batteries contained in their electronic devices are removable and replaceable. These requirements will apply to a large variety of electronic devices, including household appliances, IT, telecommunications equipment, and medical devices. They are part of a broader sustainable products package that includes other legislative proposals, such as the Commission proposal for a Regulation on Ecodesign Requirements for Sustainable Products and an upcoming legislative initiative on the right to repair, and will require manufacturers to redesign the electronic devices that they market in the European Union and European Economic Area ("EU/EEA").
The European Parliament and Council adopted their position at first reading and common approach, respectively, in March 2022, and they are now in so-called "Trilogue" negotiations to try to reach an agreement on the final wording of the Regulation. They expect to hold their third Trilogue meeting in early October and to adopt the Regulation by the end of the year. The removability and replaceability requirements on portable batteries are likely to apply as of early 2025.
Below we outline the Parliament's and Council's main positions on the replaceability and removability requirements as well as those aspects for which they have already reached a provisional agreement.
The Removability and Reparability Requirements
The draft used in preparation of the second Trilogue meeting of June 30 ("Second Trilogue Draft") indicates that the EU institutions agree that as "[f]rom 24 months after the entry into force of the [Sustainable Batteries Regulation] any natural or legal person that places on the market products with portable batteries […] incorporated, shall ensure that those portable batteries […] are designed in such a manner to be readily and safely removable and replaceable by the end-user or by independent operators during the lifetime of the appliance […], if the batteries have a shorter lifetime than the appliance […], or at the latest at the end of the lifetime of the appliance."
The current Batteries and Waste Batteries Directive 2006/66 already requires manufacturers to "design appliances in such a way that waste batteries [..] can be readily removed." The WEEE Directive 2012/19 also requires that batteries be removed from any "separately collected [waste electrical and electronic equipment]." The Sustainable Batteries Regulation's requirements on removability and replaceability are intended to ensure the enforcement of the obligation to remove the batteries to allow their recycling and to prolong the expected lifetime of the appliances they are part of. While the Second Trilogue Draft's wording is unclear, the removability and replaceability requirements are likely to be interpreted as requiring that portable batteries be removable and replaceable if their lifetime is shorter than that of the appliances in which they are contained, and that they be removable at the end of the lifetime of the appliances. This could suggest that portable batteries do not need to be replaceable if their lifetime is the same or longer than that of the appliances in which they are contained.
The Council is proposing that a battery should be considered as "readily removable" "where it can be removed from an appliance […] without the use of specialized tools, thermal energy, or solvents to dissemble." A battery would be replaceable "where, after its removal from an appliance […] it can be substituted by a similar ["compatible" according to the Parliament] battery without affecting the functioning or the performance or safety of that appliance."
The European Parliament is also proposing prohibiting manufacturers from using software "to affect the replacement of a portable battery […] or of their key components with another compatible battery or key component."
The Parliament's proposal to ensure that portable batteries can be substituted by "compatible," rather than "similar," portable batteries is intended to ensure that batteries can be replaced by batteries that are not of the same brand or from the same manufacturer.The Parliament also proposes to require that manufacturers keep available portable batteries as spare parts of the appliances they power for a minimum of ten years after placing on the market the last unit of the same model "with a reasonable and non-discriminatory price for independent operators and end-users."
To What Batteries and Appliances Would the Requirements on Removability and Replaceability Apply?
The Second Trilogue Draft defines a portable battery as any battery that: (i) is sealed, (ii) weighs below or equal to five kilograms, (iii) is not designed specifically for industrial uses, and (iv) is neither an electric vehicle battery, nor a light means of transport battery, nor a starter, lighting or ignition power battery of a motor vehicle.万博体育app手机登录A battery is "any ready for use, source of electrical energy generated by direct conversion of chemical energy, having internal or external storage, and consisting of one or more non-rechargeable or rechargeable battery cells, modules or packs of them, including a battery that has been subject to preparing for re-use, preparing for repurpose or repurposing, or remanufacturing." It also defines an "appliance" as any "electrical and electronic equipment" that is fully or partly powered by a battery or is capable of being so."
In practice, the removability and replaceability requirements will apply to portable batteries contained in a wide variety of electrical devices, including household appliances, IT and telecommunications equipment, consumer and lighting equipment, electronic tools, toys and leisure equipment, medical devices, monitoring equipment, and automatic dispensers. However, the reference of the definition of appliance to the WEEE Directive 2012/19 suggests that the removability and replaceability requirements may not apply to all products containing batteries. For example, it is unclear whether the requirements would apply to teddy bears with an electronic function.
The Second Trilogue Draft imposes identical requirements on batteries for light means of transport (e.g., electrical bicycles), and the European Parliament is also proposing to impose similar requirements on automotive batteries, electric vehicle batteries and industrial batteries.
Who Should Be Able to Remove and Replace the Portable Batteries?
The Second Trilogue Draft indicates that the Parliament and Council have reached a provisional agreement in that the manufacturer of the appliances may choose between ensuring that the portable batteries be removable and replaceable by an end-user or by an independent operator. However, as with the EU rules on the type approval of vehicles (see e.g., Regulation 2018/858), the EU institutions intend to ensure that manufacturers may not limit the possibility to remove and replace the batteries to only their dealers. The Draft defines an independent operator as a "person who is independent from the manufacturer and the producer and is directly or indirectly involved in the repair, maintenance or repurposing of batteries, and include waste management operators, repairers, manufacturers or distributors of repair equipment, tools or spare parts, as well as publishers of technical information, operators offering inspection and testing services […]."
The Parliament would also require manufacturers of appliances to provide their customers at the time of purchase of the appliances and permanently online with "clear and detailed instructions for removal and replacement" of the portable batteries.
The Council also proposes that in the case of appliances "designed to operate normally in a wet environment" the portable batteries shall be removable and replaceable "only by qualified independent operators." The concept of "qualified" independent operator would have to be defined in the guidance on the removability and replaceability requirements that the Commission is mandated to adopt and/or by Member State legislation.
Possible Exemptions
The European Parliament and Council are likely to agree that the removability and replaceability requirements should not apply to portable batteries where the "continuity of power supply is necessary and a permanent connection between the [appliance] and the [respective] portable battery is required for safety, medical or data integrity reasons." The Parliament is also proposing to grant an exemption where "the functioning of the battery is only possible when the battery is integrated into the structure of the appliance and it can be proved by the manufacturer that there is no alternative available on the market." The Second Trilogue Document suggests that the Parliament and Council have provisionally agreed that the removability and replaceability requirements should only apply to battery packs as a whole and not to individual cells or other parts included in the battery pack.
The revised TEN-E Regulation 2022 continues to work towards developing better connected energy networks while updating the TEN-E framework to focus on the latest environmental targets and ensuring consistency with the climate neutrality objectives set out in the EU Green Deal.
Towards a better integrated and greener EU energy market
The TEN-E Regulation 2022 reallocates and identifies 11 priority corridors with the purpose of meeting objectives to (i) reduce carbon emissions by 55% by 2030 and (ii) achieve carbon neutrality by 2050.优先通道侧重于更新基础设施类别,如近海电网通道和可再生和低碳气体,如氢解电机天然气基础设施和石油管道将不再有资格获得PCI状态TEN-E条例2022还确定了新的优先专题领域:(一) 采行配有IT技术(“智能电网”)电气网络;(二) 开发跨边界二氧化碳网络。
/p>能源基础设施项目proto侧重于推广绿色清洁能源的项目可获取PCI状态,如近海风能和可再生/低碳氢化注解氢或可混入其他气体(如天然气或生物甲烷)或自成一体的能源源TEN-E第2022号条例也鼓励智能电网和二氧化碳运输存储的PCIs 。补充地说,TEN-E第2022号条例将欧盟能源市场边界扩展至第三国,为所谓的互利项目引入新合作机制与PCIs相似,如果他们为欧盟总体能源和气候政策提供保障和去碳化服务,可选择它们。
欧盟委员会将每两年通过PCIs和PMIs清单(“EU链表”),第一批欧盟链表将在2023年11月30日前通过。
TEN-E规范2022还为欧盟链表中所有项目规定了新义务PCIs和PMI必须满足强制可持续性标准,并依照举例说,估计耗资8 000亿欧元提高近海可再生能源的摄取量,根据欧盟绿色交易目标,其中三分之二将用于相关电网基础设施。电力传输配电网单实现2030目标每年估计平均投资505亿欧元。
并举,帮助支付巨额费用,欧盟清单上的PCIs和PMIs可能有资格获得财政援助:
连接欧洲机制下Finance支持2022年3月3日和14日,欧洲财务报告咨询组发布最新一套工作文件,介绍欧盟未来可持续性报告标准ESRS将建立数十项可持续性相关披露要求,根据企业可持续性报告指令对数千个欧盟公司强制发布(见),并发布ISSB和EFRAG气候原型 )。
/p>ESRS结构将符合CSRDESG框架三大支柱,每个标题下有若干报告标准逐行报告标准转归各种披露要求.in thes/covcommunicate.com/129/4984/uploads/csrd-stable-esg-dorps-and-工作文件建议ESRS公司报告社会问题,如同酬差和广泛受保护群体歧视事件(如种族或民族血统、残疾、年龄或性取向)。详细程度报告将粒子化,并包括性骚扰事件等,即使不再受行动约束。强制披露将扩展至公司集体谈判协议(逐国协议)和强迫劳动事件、人权或童工等信息公司应报告所有事件并提供实例摘要证明它们的补救行动。
公司目前可能有流程收集自身员工信息,ESRS披露也将覆盖非雇员、价值链工人、消费者和粒度终端用户manbext网页版The relevant facts for these disclosures may often lie outside of the EU and across companies' global operations.* * *
If you have any questions concerning the material discussed in this blog post, please contact any of the following members of our ESG, Capital Markets and Securities, and Business and Human Rights teams: Sarah Bishop, Mellissa Campbell Duru, Sinéad Oryszczuk, Paul Mertenskötter, and Ivy-Victoria Otradovec.
Taxonomy Re-Cap
The Taxonomy Regulation establishes the EU's binary system to distinguish between economic activities that are "environmentally sustainable" and those that are not.
Together with other laws of the EU Sustainable Finance Package such as the Corporate Sustainability Reporting Directive ("CSRD") and the Sustainable Finance Disclosure Regulation ("SFDR"), the Taxonomy Regulation is designed to channel capital investments to sustainable economic activities.To this end, the Taxonomy Regulation provides criteria to allow companies and financial market participants to label specific economic activities and related investments as "environmentally sustainable," and EU rules require a growing number of companies and investors to report on the degree to which their economic activities and investments comply with the Taxonomy Regulation.
To be environmentally sustainable for purposes of the Taxonomy Regulation, an economic activity must fulfill the following four cumulative requirements:
技术筛选标准至关重要They set out the specific conditions that a particular economic activity (e.g., electricity generation from natural gas or construction of a nuclear power plant) must meet in order to be deemed environmentally sustainable for purposes of the Taxonomy Regulation.
The European Commission Is the Key Taxonomy Gatekeeper
Under the Taxonomy Regulation, the EU Member States and the European Parliament have delegated the authority to adopt the technical screening criteria to the European Commission, but Member States and Parliament retain the right to scrutinize and object to them.
The Commission has already successfully adopted Commission Delegated Regulation 2021/2139 (the so-called "Climate Delegated Act"), which sets out the technical screening criteria for dozens of economic activities that are deemed to substantially contribute to climate change mitigation or adaptation (ranging from "anaerobic digestion of sewage sludge" to "transport by passenger cars").
On February 2, the Commission complemented this Climate Delegated Act with the CCDA, which will still be subject to scrutiny by Member States and the European Parliament.The CCDA specifies the screening criteria for specific nuclear and gas activities, and also amends the specific disclosure rules established in Commission Delegated Regulation 2021/2178 to allow investors and other stakeholders to distinguish Taxonomy compliant gas and nuclear activities from other Taxonomy compliant activities such as the construction of off-shore wind parks (see Annex III to CCDA).
Gas Activities: The Commission's Sustainability Criteria
The CCDA includes three natural gas activities that can be Taxonomy compliant subject to strict conditions:
三大活动技术筛选标准大致相似Taking the example of the first activity, electricity generation from natural gas, the key conditions are as follows:
We note that the life-cycle emission target of 100g CO2e/kWh in practice means that operators seeking to comply with it must rely heavily on abatement activities, such as carbon capture technologies or the blending of fuels.依据>Central研究 绿氢与天然气混合还有可能实现这些生命周期排放目标。
The laxer emission target is:
The additional cumulative requirements are:
The European Commission claims that it has relied on extensive expert advice—including from the Joint Research Centre, the Scientific and Technical Committee under Article 31 of the Euratom Treaty, and the Scientific Committee on Health, Environmental and Emerging Risks ("SCHEER")—to ultimately make the controversial decision that nuclear energy that complies with the regulatory framework in the EU Member States "ensures a high level of protection for the environment and for people," and therefore, can meet the do no significant harm criteria.
To be Taxonomy compliant, these nuclear activities must meet detailed regulatory conditions that cover requirements beyond the existing EU and national law regulatory frameworks for nuclear power plants.附加条件包括操作处置设施确定日期和禁止输出放射性废物供非欧盟国家处置。
下一步
根据分类规则第23(6)条,欧洲议会和理事会有四个月时间阻塞欧盟公报发布CCDA并避免它生效四个月审查周期正式启动后,欧盟委将CCDA译为欧盟各种正式语文提交欧洲议会和理事会,并可在欧洲议会或理事会的倡议下再延长两个月。极可能持续到2022年夏末。
议会议事规则建议将翻译的CCDA提交议会经济和货币事务委员会(ECON)和环境、公共卫生和安全委员会(ENVI)。这两个机构可决定提出一项动议并附理由,要求议会反对CCDA政治集团或代表5%MEPs的集团也可以提出这样的动议阻塞CCDA的任何决议均需由欧洲议会全体会议表决,并只有在705MEPs中至少353支持才能成功。
经济和金融事务理事会配置集欧盟经济和财政部长为一体,总体负责欧盟可持续金融包件。
更多,成员国和欧洲议会也可以向欧盟总法院挑战CCDA私人方,包括非政府组织,如果能证明直接与CCDA相关,也有可能拥有向欧盟普通法院质疑CCDA的法律资格。 2023年1月1日预计CCDA生效,如果议会和理事会不反对它,欧盟法院不中止它时点,符合上述条件的核能和天然气投资将算作分类规则中的“环境可持续性”,从而打开绿化投资者和耳记公共资金的大门,用于欧盟下一代欧盟投资程序。
援救市场失效阻碍实现足够程度的环境保护或高效内部能源市场援助的适当性,即目标是否无法通过替代措施实现(充分)基于市场工具,如排放交易机制或偏差性小辅助工具(例如可偿还预付直接授标援助的相称性,即援助是否限为最小需求, 即实现援助量度目标所需净额外成本透明性援助,即或公诸于世(v) the avoidance of undue negative effects of the aid on competition and trade, considering the distortive effects on competitors that likewise operate on an environmentally-friendly basis, and it will (vi) weigh up the positive and negative effects of the aid, paying attention to the sustainability of the activity and in particular that it ‘does no significant harm' to environmental objectives.
These assessment criteria are further elaborated for each specific category of aid.
Categories of aid that can be assessed under the CEEAG
Most of the categories of environmental protection and energy measures falling in the scope of the previous EEAG are covered by the CEEAG in a much larger fashion.These categories relate to support:
The CEEAG further extends the list of measures that can be aided to support:
Whereas previously investment aid for large airports (more than 5 million passengers per year) could only be authorised in exceptional circumstances, such as relocation of an existing airport, aid for large airports would now be authorised also where the purpose of the aid is to improve environmental protection.
Nuclear energy remains outside the scope of the CEEAG, because it relates to limited but very large projects, subject to the EURATOM Treaty.核电援助直接依据条约条款评估 。
Covington团队将继续监控开发并随时更新
While the Italian Decree provides companies with additional flexibilities to market their SUPs in Italy, companies should carefully assess the risks that may arise if EU Courts finally hold that the Decree is not compatible with EU law.
The Definition of Plastic
Article 3(1)(a) of the Italian Decree follows the definition of "plastic" of the SUPD with one important difference: it explicitly excludes from the definition "materials such as paints, inks, adhesives, and plastic coatings, weighing less than 10% of the total weight of the product, which are not the main structural component of the finished products" (emphasis added).
The Italian definition also does not follow the interpretation of the SUPD's definition of plastic reflected in the European Commission's Interpretative Guidelines ("Commission Guidelines"). The Commission Guidelines confirm that Recital 11 of the SUPD excludes from the concept of "products made partly of plastic" those materials to which "paints, inks and adhesives" are applied. However, the Guidelines also make clear that materials (e.g., paper and cardboard) with plastic coatings and lining are plastic materials or materials partly made of plastic and are subject to the SUPD's requirements and restrictions. Neither the SUPD's definition of plastic nor the Commission's Guidelines provide any exemption on the basis of a weight threshold.
A Delayed Entry Into Force of the Ban on Prohibited Single-Use Plastic Products
The Italian Decree also provides for a delayed introduction of the ban on SUPs listed in Part B of the Annex to the SUPD (e.g., cotton buds, cutlery, plates, etc.).
Article 5(1) of the Italian Decree mirrors Article 5 of the SUPD and prohibits the placing on the market of the SUPs listed in Part B of the Annex to the SUPD. However, Article 5(2) of the Decree also provides that the SUPs listed in Part B of the Annex may still be made available on the Italian national market "until stocks are exhausted, provided that it can be demonstrated that they were placed on the market before the date of the entry into force of the obligation referred to in paragraph 1" (emphasis added).
Presumably, the concept of placing on the market of Article 5(2) refers to the Italian national market, and not to the EU market, in line with the SUPD. Nevertheless, Article 5(2) indicates that all SUPs listed under Part B of the Annex that were already on the Italian market by January 14, 2022, may continue to be sold through the supply chain in Italy even if the SUPD's ban applies since July 2021.
An Italian Exemption for Biodegradable and Compostable Single-Use Plastic Products
Contrary to the SUPD, Article 5(3) of the Italian Decree provides an exemption from the ban for single-use plastic products that are biodegradable or compostable and are listed in Part B of the Annex to the SUPD. In particular, it exempts from the prohibition of Article 5(1) biodegradable and compostable materials certified in accordance with technical standard UNI EN 13432 or UNI EN 14995, with a percentage of renewable raw material of at least 40% (60% from January 1, 2024), if any of the following alternative conditions are met:
Arguably, the Italian Government would be justifying the exemptions of Article 5(3) on the basis of Article 11 of the SUPD, which requires Member States to ensure that their implementation of the SUPD does not compromise food safety. However, it is questionable whether the European Commission will agree with such interpretation, in particular considering that the Commission has repeatedly said that the definition of plastic also covers "bio-based and biodegradable plastics regardless of whether they are derived from biomass or are intended to biodegrade over time."
Thus, there is a risk that the European Commission may start an infringement procedure against Italy or that the EU Courts may otherwise hold that the Italian Decree's definition of plastics and its flexible exemptions for specific SUPs are not compatible with EU law. In effect, this would also have significant commercial consequences for those companies that relied on the flexible approach of the Italian Decree.
The Return Systems for Single-Use Plastic Bottles
Finally, Article 6(5) of the Italian Decree also requires that producers and their extended producer responsibility systems ensure that the post-consumer material [waste] of beverage bottles (with a capacity of up to 3 liters, including their caps and lids) listed in Part F of the Annex to the SUPD be collected and retuned back to their original manufacturers.
In effect, the Commission's legislative Package is intended to promote the use of blue hydrogen until at least 2030 provided that it achieves the same decarbonization as green hydrogen (i.e., 70% GHG reduction). However, the European Parliament and Council may amend both the proposed definition and conditions of blue hydrogen and the proposed regulative incentives during their consideration of the Package and its adoption through the legislative procedure that will now follow. Moreover, the European Commission will be empowered to develop much of the methodologies implementing the definitions of blue and green hydrogen. Companies intending to engage in blue and green hydrogen operations in the EU/EEA would be well advised to closely follow these developments.
I. The Legislative Package on Hydrogen and Decarbonized Markets
The Package is yet another piece of the "Fit for 55" agenda to achieve the EU's climate neutrality by 2050 and includes three legislative proposals: (i) a proposal for a recast of the EU Regulation on the Internal Markets for Renewable and Natural Gases and for Hydrogen ("Proposed Gas and Hydrogen Regulation")!(二) 关于欧盟可再生能源和天然气及氢内部市场共同规则的建议(“ Both green and blue hydrogen would benefit from this proposed beneficial regulatory framework provided they comply with the proposed definitions and requirements. However, they would continue to be impacted differently under other parts of the EU's climate and energy rules, such as the Renewable Energies Directive ("RED II") and the proposal for a Regulation on a Carbon Border Adjustment Mechanism ("Proposed CBAM Regulation") and the Regulation on the Establishment of a Framework to Facilitate Sustainable Investment ("Taxonomy Regulation"). II. Renewable and Low-Carbon Hydrogen The EU's current energy regulatory framework fails to define renewable (aka "green") and low-carbon (aka "blue") hydrogen. This legal uncertainty has hampered the role-out of green and blue hydrogen markets and infrastructure in the EU. To correct this, the Package introduces new legal definitions of renewable and low-carbon hydrogen that the Commission will be empowered to detail by adopting specific calculation methodologies and threshold determinations in delegated acts. The Proposed Gas and Hydrogen Directive includes definitions of renewable and low-carbon hydrogen that are in line with those of the proposal to amend the Renewable Energies Directive II ("Proposed Directive to Amend RED II"). 表示欧盟关于可再生(“绿化”)和低碳最大温室气体排放密度的规则大致相似,因为天然气和氢指令为两者都设置相同的去碳化效果标准(i.e. ,70%降温)。可再生和低碳氢减排阈值很可能使用“对开式”法计算,即计取勘探到生产过程的CO2排放,包括直到生产过程的运输,然而,委员会尚未确定绿色和蓝氢精确计算和测定方法(见下文)。 Thus建议可再生和低碳氢的主要差值将是氢生产过程,特别是用于制造氢的能源源(iem>e.g./em>电解器中)。In effect, the aim of this approach is to allow low-carbon hydrogen to play a role in decarbonization and facilitate the energy transition until 2030. The amended RED II would continue to promote green hydrogen, and various EU legislation, such as the Proposed CBAM Regulation, would likely impact blue and green hydrogen differently. However, both blue and green hydrogen meeting the proposed definitions would benefit from the Package's proposed dedicated hydrogen infrastructure and market outlined below at least until 2030. The expectation is that by 2030 the EU will introduce a stricter GHG reduction threshold for the definition of low-carbon ("blue") hydrogen. This threshold could be similar to that set under the draft technical screening criteria for gas investments under the Taxonomy Regulation, but that remains to be seen. III.低卡通氢元 加固++/p> 可再生和低碳认证: Hence, if an operator provides compliance with a recognized scheme, this will serve to satisfy the certification requirement for low-carbon hydrogen. The Package applies these certification requirements equally to imported and EU-produced blue and green hydrogen, which may be related to recent efforts by certain Member States to scale up production of hydrogen both inside and outside the EU. For instance, in December 2021 the Commission approved the German State aid scheme H2Global that also supports the production of green hydrogen in non-EU countries for its export to, and sale in, the EU. IV. Regulation of Hydrogen Networks The current EU regulatory framework for gas energy carriers does not address the deployment of hydrogen as an independent energy carrier via dedicated hydrogen networks.欧盟一级没有基于收费价对氢网络投资规则(sem>/em>要求为网络运营商提供报酬以便充分投资于基础设施)或专用氢网络所有权和运营规则(sem>/em>unbunding规则)。拟议气流指令和拟议气流规范通过引入以下措施消除这些缺陷: Next Steps The European Parliament and Council must now consider the proposed Regulation and Directive for their adoption through the so-called "ordinary" legislative procedure. This procedure allows the Parliament and Council to modify the proposals, for example to include further incentives and more flexible rules for low-carbon hydrogen. The procedure is likely to be expedited so that the legislation is adopted within the next 18 months. In the meantime, the Commission is also expected to start its preparatory work on the specific methodologies needed for the certification of renewable and low-carbon hydrogen.委员会将不得不作出技术决策,这些决策往往可能产生重大商业后果。受影响的公司或愿尽早与委员会接触进程。
This blog presents an overview of some of the detailed climate-related disclosure and reporting metrics covered by the ISSB and EFRAG climate prototypes, and highlights critical considerations for companies as more detailed and mandatory ESG and sustainability reporting frameworks begin to take shape.
Global Context & COP26 Pledges
Major developments that emerged from the November 2021 COP26 summit included the announcement of the new Glasgow Climate Pact, a renewed emphasis on the role of the private sector in addressing climate change risks and opportunities, and the launch of the Glasgow Financial Alliance for Net Zero, a coalition of existing and new net zero finance initiatives dedicated to assisting companies realign their business models for net zero.
In addition, a critical adjunct to COP26 was the announcement of the launch of the ISSB and its work towards the development of uniform global environmental, social, and governance ("ESG") reporting standards.ISSB表示努力鼓励全球吸收并合并为现有ESG报告标准(包括框架,如气候相关财务披露工作队和气候披露标准理事会倡议)。ESG报告标准全球基线旨在向投资者、资本市场参与者和各种其他利益攸关方提供关于公司可持续性相关风险和机会的信息类似于姐妹组织国际会计准则理事会,ISSB将由国际财务报告标准基金会管理。
The scope of the Climate Prototype encompasses physical climate-related risks, risks associated with the transition to a lower-carbon economy, as well as climate-related opportunities for the entity.
Pursuant to ISSB's Climate Prototype, an entity shall disclose the following cross-industry climate metrics:
Greenhouse gas emissions | Scope 1, 2 and 3 in metric tonnes of CO2 equivalent. |
Transition risks | Amount and percentage of assets and business activities vulnerable to transition risk. |
Physical risks | Amount and percentage of assets and business activities vulnerable to physical risks. |
Climate-related opportunities | Proportion of revenue, assets or business activities aligned with climate-related opportunities (in amount or percentage). |
Capital deployment | Amount of capital expenditure, financing or investment deployed toward climate-related risks and opportunities (in reporting currency). |
Internal carbon prices | Entity's internal price for each metric tonne of GHG emissions. |
Remuneration | Proportion of executive management remuneration affected by climate-related considerations in current period. |
Importantly, the Climate Prototype foresees additional industry-specific climate metrics for companies to report on.ISSB气候原型附录B汇总行业报告要求其中包括为每个行业具体确定的多重需求,例如软件服务公司水压区抽取和耗用水或棕榈油供应链报告公司家庭和个人产品销售报告In light of the growing interdependence between the many ongoing ESG regulatory initiatives (especially those originating in the EU), this reporting requirement should, for example, be considered in the context of recently announced national and international deforestation due diligence requirements for specified products being placed on the UK and EU markets.
2. EFRAG's Climate Standard Prototype: Towards Harmonization?
The ISSB's Climate and General Requirements Prototypes are particularly interesting because EFRAG released a similar framework under the Climate Standard Prototype Working Paper in September 2021.EFRAG框架响应欧盟委员会关于s/www.insideEnergyandense.com/2021/05/the-e-Corporate-divity-proposition-what-company-dessb的Climate原型可能直接影响到欧盟规则。
Compaments也可能感兴趣地注意到EFRAG工作文件和Climate原型都覆盖相似水平的报告,侧重于部门不可知性报告、部门专用报告和实体专用报告EFRAG工作文件捕捉约三分之二ISSB气候原型,其余三分之一有可能在未来数月中补充EFRAG部门特有标准。
本分类法是欧洲日益注重提高气候相关活动透明度的又一标志,但它也是一套本已复杂图象中的另一套标准和指标。At a COP26 side event, for example, EFRAG's work was examined in the context of the ISSB and the work of the TCFD.
Key Takeaways
Two main recommendations flow out of the current landscape on sustainability reporting developments.
苏格兰政府热切地确保现有(碳氢化合物)部门就业者得到再技能和再生部门提供的机会,可再生能源价格可承受苏格兰水电部门将在支持这一过渡方面发挥重要作用,计划要求苏格兰政府评估如何为碳密集部门工人创建长期“技能保证”。Plan还突显苏格兰成为欧洲低成本氢矿生产者的潜力苏格兰政府将在2022年能源策略和公正过渡计划中更详细地说明其方法。
This money will fund FEED studies for large-scale renewable Hydrogen production projects with a view to making full investment decisions later in the decade.
The Scottish Government wants to use the £100m fund as a means to accelerate as many projects as possible from pilot stage to large scale commercial and has hypothecated £10m to prioritise innovation and research through the creation of the Scottish Hydrogen Innovation Fund, which will be launched early in 2022.
The remaining £80m of the EETF will fund the development of carbon capture, utilization and storage technologies – suggesting that the Scottish Government views blue Hydrogen as an important element of its Hydrogen revolution.
Timeline
The Plan sets out detailed action points until the end of 2026.苏格兰政府期望到2026年大规模氢生产基础设施到位,与大规模碳捕获存储相联(super>CCS )以及岸上和近海风开发。
计划还提出了2045至2045年Hydrugen经济路径图苏格兰的目标是到2035年实现100%可再生电运营,同时增加向英国和欧洲其他地区的氢输出量In the 2040s, the Scottish Government aims to have capacity to produce 25 GW of Hydrogen and to be established as an enduring and reliable exporter of Hydrogen to Europe.
Underlying Themes
Relationship Between Hydrogen and Other Renewable Energy Sources
Although the Plan is not explicit on this point, it acknowledges that initial low-carbon Hydrogen infrastructure will pave the way for establishing the transportation and storage infrastructure to support a green Hydrogen economy in Scotland.
The Plan acknowledges that a strong renewables sector is essential to the development of Hydrogen projects.计划指出岸风部门支持小型和大型可再生水力项目的重要性,但承认该部门需要进一步投资。
离岸风部门更先进Successful bidders in the July 2021 leasing round will be announced in early 2022, and August 2021's leasing round had the specific objective of constructing offshore wind farms to decarbonise oil and gas infrastructure operations, support oil and gas-field decommissioning, and use excess generation to create Hydrogen.
Key Goals
The Plan set out six key goals:
II. ACTION PLAN
The Plan sets out six key challenges to be overcome during the next five years.
Scaling Up Hydrogen Production in Scotland
To unlock Scotland's potential to meet its ambitious targets for Hydrogen production, barriers such as regulation, planning laws or infrastructure constraints will need to be addressed.The Plan therefore commits the Scottish Government to a review of existing legislation, regulation and standards, to identify and remove potential barriers to the growth of the Hydrogen industry.
In order to improve understanding of the likely role to be played by Hydrogen in the domestic and global markets, the Scottish Government aims to establish the expected cost-trajectory for renewable Hydrogen up to 2045.
The Scottish Government will work with its counterpart in Whitehall to establish a UK Hydrogen Standard, and until this is established, the Scottish Government will only grant funding to Hydrogen projects with capture rates of at least 90%.将不向COsub>2 排放不减量的新Hydgen网站提供资金。
促进国内Hydrogen市场增长、规模经济和技术进步是关键交通产业被视为可能高氢需求行业。
Scottland政府会邀请能源密集制造厂商申请苏格兰工业能源变换基金赠款支持深度去碳化项目新的工业开发无阻碳排放将不符合苏格兰政府供资计划的资格。In the transport sector, the Scottish Government will establish a consortium for implementation of the Plan.
In the heating sector, the Scottish Government will support SGN (formerly known as Scotia Gas Networks), in converting elements of its network to Hydrogen, but only where doing so is consistent with keeping options open and limiting consumer costs.
Finally, the Scottish Government notes the urgency of amendments to existing UK-wide regulations to support the role of Hydrogen in the gas grid, to support Hydrogen blending and to maximize the volumes of renewable Hydrogen available in the energy system as quickly as possible.
Maximising the Benefits of Integrating Hydrogen into the Scottish Energy System
The Plan notes that converting renewable energy into Hydrogen provides new routes to market and may well change the investment proposition for new and existing renewables investors.
The Scottish Government believes that a key way to maximize the benefits of Hydrogen integration is to work with the UK government, Ofgem and the energy network sector to ensure that regulation rewards Hydrogen projects appropriately.关键行动点是建立氢流交通配送基础支持苏格兰氢流输出目标。
计划强调技能投资,包括提高工人技能并重新培训工人进入Hypgen部门。Hypgen工商开发服务将旨在促进产业和学术研究之间的协作。
企业机构将特别支持Scot2Ger项目,目的是到2024年向德国消费者提供苏格兰生产的可再生氢计划指出必须确保苏格兰氢流国际输出不存在法律或监管障碍,苏格兰氢流行业国际内向投资也不存在障碍。
Scottish Development国际外联方案将与280家被确定为苏格兰氢流行业外国直接投资潜在目标的国际公司积极接触将寻求与德国、比利时、荷兰、丹麦、加拿大、澳大利亚、日本和法国的关键协作。
加强创新和研究 一个新的苏格兰氢创新网络将促进苏格兰氢创新资产间增强协作并避免研究重复苏格兰政府支持苏格兰通过清洁氢欧洲合作伙伴关系申请欧盟资助,并启动150k英磅研究电话支持苏格兰和德国学术应用研究所之间的合作
Three Striking Conclusions for International Climate Change Law
The Dutch Supreme Court's decision contains three striking messages: