| Countries around the globe, as well as individual U.S. states, regions and cities, are in the process of adopting or implementing a wide range of systems to limit greenhouse gas (GHG) emissions. Most observers believe that a U.S. federal regulatory program is inevitable soon, given the regulatory systems that have been established at other levels of government and the growing public concern about climate change.
For companies and municipalities, climate change regulation will generate abundant opportunities and numerous risks. It will produce investment opportunities in low-emission technologies and processes, but operating costs will likely rise for many companies, especially in the energy-intensive sectors of the economy. Regulatory uncertainty will be significant until a method is devised for allocating the costs of regulation among different sectors of the economy and regions of the country.
The Davis Wright Tremaine climate change attorneys have extensive experience in the fields of energy, environmental and business law, and have a deep understanding of evolving climate change policies at the international, national and state levels. This background enables us to offer clients top-quality advice and counseling on climate change regulatory risk, the sale and purchase of greenhouse gas credits/offsets, and the commercial law aspects of opportunities related to climate change. We have an extensive transactional and regulatory practice in the renewable energy field, which is relevant to policies such as renewable portfolio standards that have been adopted by some states. We can also help clients shape the GHG regulatory system at the federal and state levels.
We have already done substantial work advising clients on climate change policies and operational issues. Some examples of that work include:
- Advising utilities on the potential impact of future federal GHG regulation on their electric generation assets, with recommendations regarding mitigation of the risks
- Advising an independent power producer on market structure issues related to California’s adoption of GHG regulations
- Representing the entity responsible for acquiring carbon offsets with funds from developers of fossil fuel-fired facilities under Oregon’s energy facility siting law
- Representing an independent power producer in the California Public Utility Commission proceeding establishing a GHG emission performance standard for long-term power procurement by California utilities
- Advising a state governmental agency on the impact of GHG legislation on its contracting for power supply
- Advising an international corporation regarding the development of GHG reduction offsets in China through utilization of the Clean Development Mechanism under the Kyoto Protocol
Recent Climate Change Developments |
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