Environment & Climate Change

Clients around the world rely on the team’s cutting-edge expertise in the law, regulation and soft law applicable to those environmental issues that  affect global trade and industrial activity. These include climate change, policy, emissions abatement, product stewardship and decommissioning legacy management.

Linklaters’ environment law team is unique in having a presence in Europe, the US and BRIC, giving it a global reach that enables us to provide comparative regulatory advice and to support  transactional activity across the world. The group is well known for its stand-alone expertise, but also functions seamlessly with market-leading corporate, energy & infrastructure, financial regulatory and derivatives teams.

Recent environment and climate change transactions include advising:

  • The World Bank on the Pilot Auction Facility (PAF) on its first of a kind bond structure encompassing a put option auction to leverage public finance for methane emissions reductions. We have now advised on Phases 2, 3 and 4 of this Facility. The PAF is an innovative instrument which has been under development for many years and was designed to ensure the maximum use of limited public resources for climate change mitigation, while leveraging private sector financing.
  • COFIDES (a Spanish public – private organisation) on the negotiation of an Accreditation Master Agreement with the World Bank’s Green Climate Fund (GCF) in connection GCF funded projects.
  • Chinese steelmaker, Jingye Group, on its first acquisition outside of China. The agreement to acquire the assets of British Steel from the Official Receiver includes the steelworks at Scunthorpe, UK mills at Teesside and Skinningrove and its subsidiary businesses in France and The Netherlands. The UK Government was also a significant stakeholder with whom agreement needed to be reached on various matters connected to the previous owner, including a complex arrangement to enable British Steel to meet its EU ETS obligations under its greenhouse gas permits.
  • A significant business interest group in connection with the negotiations at the UNFCCC Chile – Madrid COP 25 for agreeing the so called Paris Rule Book. The mandate involved interrogating the principles underlying the position of the business interest group in relation to the trading mechanisms under Article 6 of the Paris Agreement, analysing the evolving text of the Paris Rule Book and advising on drafting solutions to reflect these interests.