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Articles by Nigel Brook
Spotlight on deforestation regulations in the UK and EU
In 2021, at climate COP26, global leaders committed to ending and reversing deforestation by 2030. In 2023, the Kunming-Montreal Global Biodiversity Framework (GBF) built on this by aiming to eliminate the destruction of biodiverse areas (such as forests) and ensure that at least 30% of degraded ecosystems are restored by 2030. We are now halfway through the decade and are far from achieving this goal. Deforestation is not slowing down.
COP28: From the Blue Zone: Methane in the spotlight
While efforts to mitigate climate change have typically focussed on carbon dioxide (CO2), attention has been increasingly turning toward other greenhouse gases (GHGs), most notably: methane. At COP26 in Glasgow, 122 countries, led by the US and the EU, signed the Global Methane Pledge, committing to collectively reduce methane emissions by at least 30% of 2020 levels by 2030.
COP28: From the Blue Zone: Just Energy Transition Partnerships - a model for the just transition?
At COP28, parties committed to “accelerating efforts towards the phase-down of unabated coal power” and “transitioning away from fossil fuels in the energy systems, in a just, orderly and equitable manner […] so as to achieve net zero by 2050 in keeping with the science”. Although the words “oil” and “gas” are not included, ambition has been raised regarding the accelerated phase down of coal, which still plays a large role in the world’s current energy mix.
Greenwashing litigation to increase as mandatory reporting comes into effect
The number of greenwashing litigation cases will continue to increase as we go into 2024, with a wide variety of sectors being impacted. Climate litigation has doubled since 2017, according to data from the UN Environment Programme. Historically, climate litigation against companies was focused primarily on the energy sector.
COP28: From the Blue Zone - Growing recognition of the importance of nature and biodiversity
The devastating impacts of ecosystem and biodiversity loss have forced themselves onto the agenda for the climate talks at COP28 as never before. More and more negotiators, increasingly urged on by companies, are calling for the inclusion of nature-based solutions into climate solutions. It has long been recognised that biodiversity loss poses unique and site-specific challenges, quite different from and in some ways more complex than those posed by climate change.
COP28: From the Blue Zone: The Loss and Damage Fund - just the beginning
The first day of COP28 saw a landmark agreement reached on the operationalisation of a ‘Loss and Damage Fund’, which will provide financial support to countries suffering from irreversible and unavoidable impacts of climate change. Our perspectives from on the ground in the Blue Zone at COP28 are set out below. What is Loss and Damage?
Global Climate Litigation Report: 2023 Status Review
Climate change litigation is on the rise. The number of cases filed and jurisdictions involved have more than doubled in recent years. While there are vast differences between legal environments, climate change cases often have similar legal issues, addressed in the current Global Climate Litigation Report (GCLR) by the United Nations Environmental Programme in cooperation with the Sabin Center for Climate Change Law at Columbia University.
Clyde & Co Mondaq Profile
CONTRIBUTING SINCE FEBRUARY 2002 Clyde & Co is a leading, sector-focused global law firm with 415 partners, 2200 legal professionals and 3800 staff in over 50 offices and associated offices on six continents. The firm specialises in the sectors that move, build and power our connected world and the insurance that underpins it, namely: transport, infrastructure, energy, trade & commodities and insurance.
FCA challenged over Prospectus Climate Risk exposure
ClientEarth is seeking a judicial review in the High Court against the Financial Conduct Authority (FCA), claiming that the UK’s financial regulator unlawfully approved the initial public offering (IPO) prospectus of a UK oil and gas company, which allegedly failed to adequately describe the climate-related risks associated with the company in its prospectus.
COP 27: Loss and Damage, Liability and Climate Risk
COP 27 ended on 20 November 2022 with a historic agreement on the place of “Loss and Damage” in the fight against climate change. This agreement established the grounds for the creation of a pooled fund for climate vulnerable countries to use to recover from the unavoidable impacts of climate change.
Zero deforestation supply chains - EU Regulation on deforestation-free products
On 6 December 2022, the European Parliament and the Council have reached an agreement on an EU Regulation on deforestation-free supply chains.
Biodiversity Jargon Buster - Climate Change - UK
With the 15th Conference of Parties (COP15) to the Convention on Biological Diversity officially starting in the first week of December 2022, we have prepared a list of key biodiversity terms with their explanation as well as a link to a legal definition, where available. Our Biodiversity Jargon Buster should help everyone understand the language used in the upcoming international negotiations and remove any barriers that newcomers to the biodiversity field may experience.
UK Government Announces New Sanctions Against Russia
On the 29 June 2022, the UK government announced new sanctions against Russia targeting thirteen new individuals and entities, including Russia's second richest man, Vladimir Potanin. Vladimir Potanin is reported to have an estimated net worth of £13bn and is the owner of major conglomerate Interros. He is also the chief executive and biggest shareholder in Norilsk Nickel, which is the largest supplier of nickel and palladium in the world.
UK Government Adds Six New Individuals To UK Sanctions List
On the 4 July 2022, the UK government added six new individuals in the Russian media industry and one entity, an online news site, to the UK sanctions list. These include: Aleyona Anatolyevna Chuguleva Darya Aleksandrovna Dugina Yuriy Sergeyevich Fedin Yevgeniy Eduardovich Glotov Aelita Leonidovna Mamakova Mikhail Anatolyevich Sinelin United World International, an online news site The financial notice can be found here: Notice_Russia_040722.pdf (publishing.service.gov.uk)
Insight On The Global Trends In Climate Change Litigation: 2022 Snapshot
On 30 June 2022 the LSE's Grantham Research Institute on Climate Change and the Environment and The Centre for Climate Change and Economics and Policy published their latest annual report analysing global trends in climate litigation: "Global Trends in Climate Change Litigation: 2022" (the Report). Climate change litigation is growing in importance and scope. Climate change-related cases have more than doubled worldwide since 2015.
Banks And Insurers Have More Work To Do On Climate Risk: The Bank Of England Publishes The Results Of Its Climate Biennial Exploratory Scenario
Since 2015, the Bank of England has been part of a global regulatory movement spearheaded by the Financial Stability Board seeking to address the "tragedy of the horizon" of climate change related financial risks. The Bank's expectations were set out in its Supervisory Statement 3/19 and a Dear CEO letter dated 1 July 2020.
UK Announces 206 New Individual Sanctions
The UK yesterday (13 April 2022) sanctioned a further 206 individuals in connection with Russia's invasion of Ukraine. Those sanctioned include the family and staff of sanctioned Russian oligarchs, and 178 individuals who have played a role in supporting illegal breakaway regions of Ukraine. The sanctions against the latter have been imposed in coordination with the EU. The relevant government press release is available here.
Part 3 Of The Economic Crime Act 2022 Introduces Strict Liability Financial Penalties For Sanctions Breaches
On 15 March 2022, the Economic Crime (Transparency and Enforcement) Act 2022 ("the Act") received royal assent. Having been on the political agenda since 2016, the Act was fast-tracked in response to Russia's invasion of Ukraine. The Act contains three key parts: Part 1: Registration of Overseas Entities. In March 2022, we reported on the inclusion of the Register of Overseas Entities as part of the wide package of measures in the Act.
European Leaders Agree On Sixth Package Of Russia Sanctions
Following weeks of negotiations, the European Council has agreed on the sixth package of Russia sanctions. Over the course of the European Council's "special meeting", held on the 30 and 31 May 2022, EU leaders agreed to ban most Russian oil imports, including crude oil and petroleum products. On the 2 and 3 June 2022, the legal acts were uploaded to the Official journal (see below).
UK Government Announces Further Sanctions Against Russia
UK: UK Government Announces Further Sanctions Against Russia To print this article, all you need is to be registered or login on Mondaq.com. On the 16 June 2022, the UK announced new sanctions against Russia targeting twelve new individuals, including the Russian Children's Rights Commissioner, the head of the Russian Orthodox Church, and several more individuals linked to the Russian military. The content of this article is intended to provide a general guide to the subject matter.
EU Adopts Fifth Package Of Sanctions Against Russia
The European Council has today (08 April 2022) adopted a fifth package of sanctions against Russia, with a view to putting pressure on Russia's economy and limiting its capacity for aggression against Ukraine. Key sanctions include: - Prohibitions on: - The purchase, import or transfer of coal and other solid fossil fuels into the EU if they originate in Russia or are exported from Russia, effective as of August 2022.
COP26 Blog: Climate change and the regulatory landscape
Nigel Brook, partner, Clyde & Co As national governments come under increasing pressure to adopt more ambitious climate actions, the resulting policy and regulatory reform may well have an impact on a Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
IPCC publishes landmark climate change report
United Kingdom August 10 2021 Yesterday the Intergovernmental Panel on Climate Change (IPCC), a UN-backed body published its first major assessment report of the past decade, written by over 200 of the world’s top climate experts. For the first time since the IPCC’s establishment in 1988, the 2021 Sixth Assessment Report contains an unequivocal finding about human-induced climate change.
Post-COVID Claims: Health Insurers Brace for Uptick in Volume, Severity
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Connecticut Law Tribune
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Captive Insurance Groups Celebrate SCOTUS Win, With Support From Connecticut Team
In a significant win for captive insurance markets, the U.S. Supreme Court recently unanimously overturned a Sixth Circuit Court of Appeals ruling on tax reporting rules for captive insurance companies, with Connecticut organizations playing a key role.
Dutch Court's Landmark Ruling on Carbon Emissions Could Impact Insurers
A Royal Dutch Shell Plc logo on an oil silo at the Shell Pernis refinery in Rotterdam, Netherlands, on Tuesday, April 27, 2021. (Photo: Peter Boer/Bloomberg) In a landmark decision published on May 26, the District Court of the Hague, one 19 District Courts in the Netherlands, has ordered Royal Dutch Shell to reduce its net CO2 emissions by 45% compared to 2019 levels, with the reduction to be achieved by the end of 2030 at the latest.
Dutch court ruling on carbon emissions could impact insurers | PropertyCasualty360
A Royal Dutch Shell Plc logo on an oil silo at the Shell Pernis refinery in Rotterdam, Netherlands, on Tuesday, April 27, 2021. (Photo: Peter Boer/Bloomberg) In a landmark decision published on May 26, the District Court of the Hague, one 19 District Courts in the Netherlands, has ordered Royal Dutch Shell to reduce its net CO2 emissions by 45% compared to 2019 levels, with the reduction to be achieved by the end of 2030 at the latest.
Supply chain risk comes in many different shapes and forms (via Passle)
Highlighting another not insignificant supply chain risk, the Transported Asset Protection Association’s (TAPA) Cargo Theft Annual Report estimated that in 2020, theft from supply chains in Europe, the Middle East and Africa (EMEA) region resulted in reported losses of over 172m Euros. That equates to over 1m USD reported lost every other day.
Climate Change Litigation - Insights into the evolving global landscape | Research report
Publication Date: 12th April 2021 Authors: Maryam Golnaraghi, Joana Setzer, Nigel Brook, Wynne Lawrence and Lucia Williams As evidence of climate change mounts and the world begins to transition to a net-zero economy, climate liability risks are evolving, too, with climate-related litigation cases gaining in pace, increasing in volume and expanding in scope and geographical coverage.
Blog: Postcard from the future
A debate is under way around the world about the respective roles of the insurance industry and governments as “shock absorbers” for future pandemics. However, Covid-19 is a warning shot across our Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
How Technology And Innovation Can Close The Protection Gap At The Micro-level
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Apex predators - ecosystem engineers | Lexology
Trophic cascades are an ecological phenomenon involving a series of reciprocal changes in the populations of predator and prey, which may result in dramatic modifications of ecosystems, such as changes to river courses. For example, orangutans play a vital role in seed dispersal in the forest. However, illegal logging and palm oil plantations have led to deforestation and a loss of the habitat on which orangutans rely.
"Spiking" Of Mesothelioma Reinsurance Claims: Appeal Resolved Prior To Supreme Court Hearing
UK: "Spiking" Of Mesothelioma Reinsurance Claims: Appeal Resolved Prior To Supreme Court Hearing 17 July 2020 by David Wynn and Nigel Brook Clyde & Co To print this article, all you need is to be registered or login on Mondaq.com.
The Amazon rainforest - a self-sustaining ecosystem | Lexology
Self-sustaining ecosystems are vast landscapes that create ideal conditions for their own survival. The Amazon rainforest, for example, generates at least half of its own rainfall through the 'hydrological cycle', which in turn supports the abundance of the rainforest's vegetation. Deforestation and climate change pose a threat to the hydrological cycle in the Amazon.
A Coherent Climate Change Strategy Is A Vital As Ever For Insurers
To print this article, all you need is to be registered or login on Mondaq.com. The scale of the economic impact of the Covid-19 pandemic is remarkable. On the debit side of the balance sheet, the price of oil went briefly negative as demand plummeted, ships have been put on a go-slow as ports close, supply chains are stuttering, the travel and leisure industries are moribund, high streets remain shuttered, unemployment is rising and inflation threats lurk. Global recession seems a given.
UK Uses Post-Brexit Sanctions Powers To Impose Magnitsky-Style Sanctions
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Court Of Appeal: US Secondary Sanctions Can Be A
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Court of Appeal: US secondary sanctions can be a “mandatory provision of law” in English Contract | Lexology
The Court of Appeal of England & Wales has interpreted a contractual clause in an English law facility agreement stating that the borrower would not be in default if it did not make payment "in order to comply with any mandatory provision of law" to permit the borrower to refuse payment where doing so would expose the borrower to US secondary sanctions.
German Court Makes First Reference To ECJ On Interpretation Of EU Blocking Regulation
The European Court of Justice has been asked, for the first time, to interpret the EU Blocking Regulation. In this blog post, we provide an overview of the referral and our initial thoughts on the issues it raises.
First Substantial Fine Imposed By OFSI
To print this article, all you need is to be registered or login on Mondaq.com. On 18 February 2020, the Economic Secretary to the Treasury (Minister) upheld the decision by the Office of Financial Sanctions Implementation's (OFSI) to issue monetary penalties totalling £20.47 million against Standard Chartered Bank (SCB) for breaches of financial sanctions. What Was the Fine For?
Parametric solution for wildfire risk | Lexology
Last year saw some of the deadliest and costliest wildfires in California history. With the long-term impacts of the Camp and Woolsley fires still being felt months later, many in California are already thinking ahead and considering how best to prepare for future wildfire seasons. The problem is only going to get worse due to climate change: The total area exposed to wildfires is increasing, and the wildfire season continues to grow longer.
Pool Re and Terrorism Risks in the UK | Lexology
United Kingdom
April 26 2019 There have been a number of high-profile terrorist attacks around Europe in recent years and the UK has been the victim of several of these events, which have included the Manchester, London Bridge and Westminster attacks. They typically target innocent bystanders and are seemingly designed to terrorise the public. But they can also incidentally harm businesses. Will their insurance respond? Here, it is useful to set out some history.
OFSI Publish Details Of First Fine For Financial Sanctions Breach
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International Reinsurance Newsletter - UK & Europe
UK & Europe based Clyde & Co lawyers answer important questions in the Reinsurance industry. (1) When does the limitation period start to run for insurance contract? The 6 year limitation period starts to run from the date on which the insured's cause of action has accrued. For property insurance, that will be on the occurrence of the insured event. For liability insurance, it is the date when the insured's liability has been "ascertained" ie determined as a precise sum payable by the insured.
Howlett v Davies & Anor: Court of Appeal finds that insurers did not have to plead "fundamental dishonesty" to deprive claimant of benefit of QOCS
The claimants alleged that they had been injured in a car accident caused by the negligence of the defendant. The insurer did not accept that the accident happened (or that, if it did, not in the way that the claimants alleged). However, the insurer did not go so far as to plead fraud in its defence.
(Re)insurance Weekly Update 34- 2017
A summary of recent developments in insurance, reinsurance and litigation law. Miley v Friends Life: Judge considers meaning of "investment" income in a form submitted to support a claim under an income protection policy The claimant sought to claim payments from the defendant insurers under an income protection insurance policy. Much of the case turns on its particular facts and whether the claimant was faking, or significantly over-stating, the seriousness of his illness.
(Re)insurance Weekly Update 17- 2017
A summary of recent developments in insurance, reinsurance and litigation law. Gard Marine & Energy v China National Chartering: Supreme Court decides by 3:2 majority that insurer had no rights of subrogation because of clause in the underlying contract between the co-insureds The first instance and Court of Appeal decisions in this case were reported in Weekly Update 32/13 and 4/15 respectively.
How parametric insurance can help after natural catastrophes
Their effects are magnified in developing countries, where already limited public and private resources become severely strained, if not completely unavailable, following natural catastrophes. Natural catastrophes, such as Hurricane Matthew that caused so much devastation and suffering in Haiti , can cause death and destruction wherever they strike. According to McKinsey Consulting’s “Global Insurance Insights 2015” white paper, insurance penetration in emerging markets is only about 3%.
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