Resilient LLP (formerly DeMarco Allan LLP)
Author

DT Vollmer

Browsing

Canada Announces New Members of Global Carbon Pricing Challenge at Climate Week

No Comments By

Prime Minister Justin Trudeau and Steven Guilbeault, Minister of Environment and Climate Change, yesterday welcomed Norway and Denmark as new members of the Global Carbon Pricing Challenge (the “Challenge”), and Côte d’Ivoire as a Friend of the Challenge. The Challenge, launched by Prime Minister Trudeau at COP26, is a partnership of countries committed to accelerating climate action by tripling the coverage of carbon pricing mechanisms around the world to reach 60 percent of global emissions by 2030. Colombia and Vietnam were also recognized among those nations that support the Challenge’s goals and objectives since they have both adopted domestic carbon pricing systems. The announcement was made at an event entitled Accelerating Global Climate Ambition and Decarbonization, held in the SDG Pavilion on the North Lawn of the United Nations Headquarters during Climate Week NYC. We anticipate further developments related to the Challenge to be announced at COP28 in Dubai later this year. For further information or to discuss the contents of this bulletin, please contact Lisa DeMarco at lisa@resilientllp.com.

Read More
By

Verra Announces Digital Platform Functionality and Verra Registry Updates

No Comments By

One of the leading voluntary carbon market standards, Verra, recently announced the launch of its “Project Tracker”, the first component of its digitalization initiative and the first functionality of the new Verra Project Hub. Verra also published an overview of the most recent updates to the Verra Registry. This bulletin briefly summarizes key information on the launch of the Project Tracker and important updates to the Verra Registry: Project Tracker and Project Hub Launch Verra’s Project Tracker provides stakeholders with increased information and visualization of project details including the status of each project in a bar diagram. This is intended to enable stakeholders to view project progress from initial listing to registration, validation, and verification. Verra indicated that the Project Tracker is linked to its customer relationship management platform, enabling automatic data synchronization. Verra noted that it intends to expand the Project Hub’s features to (i) facilitate the online submission of new projects for review, (ii) a digital assessment of a project’s non-permanence risk, and (iii) direct interaction with project auditors. Verra Registry Updates Announced updates to the Verra Registry include the following: New project status added. A new project status, “Pipeline Listing (Under Development) Approved”, has been added to the workflow for projects seeking registration in the Verified Carbon Standard (VCS) Program. ERR Calculation Spreadsheet. A new document type specific to emission reductions and removals (ERR), titled “ERR Calculation Spreadsheet,” has been added to the drop-down list of available project document types. Locking of Account Setup Fields.The fields in the “My Account Setup” module for all Verra Registry accounts are now locked for editing after Verra has approved the account. Locking of Project Setup Fields.Once a submitted project is no longer under the status of “New,” the project’s setup page will be locked for editing. This applies to all Verra projects in any…

Read More
By

Canada Releases Draft Clean Electricity Regulations

No Comments By

Canada’s Minister of Environment and Climate Change (the “Minister”), in collaboration with the Minister of Energy and Natural Resources, has announced the release of proposed Clean Electricity Regulations (the “Proposed Regulations”) (see our earlier bulletin on prior consultations here). The Proposed Regulations would establish significant and ambitious emission performance standards (“EPS”) to reduce greenhouse gas (“GHG”) emissions from fossil fuel-generated electricity generation facilities in all provinces and territories across Canada starting in 2035. Environment and Climate Change Canada (“ECCC”) estimates that the Proposed Regulations would result in a net reduction of 342 million metric tonnes (Mt) of CO2e emissions between 2024 and 2050 and a net benefit to society of $28.9B. The Proposed Regulations also impose significant registration, record keeping, and reporting obligations on covered electricity generation facilities. The Proposed Regulations represent a significant foray by the federal government into electricity policy, which has traditionally been an area of provincial jurisdiction. In their current form, the Proposed Regulations are expected to attract opposition from some provincial governments, and potential constitutional legal challenges. ECCC is seeking feedback on the Proposed Regulations. Interested stakeholders are encouraged to review the Proposed Regulations and submit detailed comments by no later than November 2, 2023.  We anticipate that policy developments are being targeted for announcement before or at the UNFCCC Conference of the Parties meetings (COP28 Paris Agreement negotiations) that start on November 30, 2023, in Dubai, UAE. This bulletin briefly summarizes key details of the Proposed Regulation: Application. The Proposed Regulations would apply to any “unit” (defined as an assembly comprised of any equipment that is physically connected and that operates together to generate electricity, and (a) must include at least a boiler or combustion engine and (b) may include duct burners and other combustion devices, heat recovery systems, steam turbines, generators, emission control devices and carbon capture and storage (“CCS”) systems) that meets the three following criteria:…

Read More
By

ECCC Releases Inefficient Fossil Fuel Subsidies Assessment Framework and Guidelines

No Comments By

The Minister of Environment and Climate Change on Monday announced the release of the Inefficient Fossil Fuel Subsidies Government of Canada Self‑Review Assessment Framework (the Assessment Framework) and the Inefficient Fossil Fuel Subsidies Government of Canada Guidelines (the Guidelines). The Assessment Framework and Guidelines were jointly developed by Environment and Climate Change Canada (ECCC) and the Department of Finance Canada and are intended to support Canada’s 2009 commitment alongside other G20 countries to phase out and rationalize inefficient fossil fuel subsidies over the medium-term while providing targeted support for the poorest. The Assessment Framework also builds on Canada’s commitment under the Statement on International Public Support for the Clean Energy Transition (the Glasgow Statement) in 2021 at COP 26 in Glasgow, to end new direct public support for international unabated fossil fuel, except in limited and clearly defined circumstances that are consistent with the 1.5°C warming limit and the goals of the Paris Agreement. This bulletin briefly summarizes key information and criteria provided in the Assessment Framework and Guidelines. Assessment Framework. ECCC noted that the Assessment Framework is the “first transparently published methodology worldwide” and that it will be used to determine which tax and non-tax measures constitute an “inefficient fossil fuel subsidy”. The Assessment Framework defines “measures” as including: (i) expenditure programs (i.e., grants, contributions, transfers); (ii) intramural research and development; (iii) tariff and duty reliefs; and (iv) tax expenditures that support fossil fuel consumption or that can be claimed by the fossil fuel sector and that represent alternatives to expenditure programs (i.e., tax credits, accelerated capital cost allowances, flow-through shares), and utilizes the World Trade Organization’s definition of “subsidy” as set out in Article 1.1 of the Agreement on Subsidies and Countervailing Measures. The international carbon markets provisions of Article 6 of the Paris Agreement will have an…

Read More
By

Ontario Releases Plan to Meet Increasing Demand for Electricity

No Comments By

Ontario’s Minister of Energy (the Minister) today announced the release of the province’s “Powering Ontario’s Growth” plan (the Plan). The Plan outlines the actions Ontario expects to take to meet increasing demand for electricity supported by strong economic growth and electrification over the next two decades. The Plan notes that Ontario may need to increase its electricity generating capacity from the current 42,000 MW to 88,000 MW by 2050, in addition to replacing 20,000 MW of generation capacity over the same time period. This bulletin briefly highlights Ontario’s planned actions.   Current actions. The Plan provides the following actions that Ontario is currently undertaking to meet increasing demand: Nuclear Energy. Ontario in continuing work on the refurbishment of the Darlington and Bruce Nuclear Generating Stations, which together will secure 10,050 MW of generation capacity. In addition, Ontario is supporting the continued operation of the Pickering Nuclear Generations Station and has directed Ontario Power Generation (OPG) to update its feasibility assessment for the refurbishment of Pickering “B” to continue operating beyond 2026. Competitive Procurements for New Build Electricity Generation and Storage. The Minister has directed the Independent Electricity System Operator (IESO) to acquire 4,000 MW of new electricity generation and storage resources through competitive procurements, targeting 2,500 MW of stand-alone energy storage resources and a maximum of 1,500 MW of natural gas generation. Energy Efficiency Program Enhancements. Ontario has increased funding for energy-efficiency programs by $34M, bringing total funding to more than $1B over the current 2021-2024 Conservation and Demand Management framework period. Re-Contracting Ontario’s Small Hydroelectric Stations. The Minister has asked the IESO to design a Small Hydro Program to recontract existing facilities whose current agreements are coming to an end. Transmission Expansion. Ontario has issued an Order-in-Council declaring three transmission line projects in London, Windsor, and Sarnia as provincial priorities, streamlining the regulatory approval…

Read More
By
Load More