DT Vollmer – Page 18 – Resilient LLP (formerly DeMarco Allan LLP)

PRI Releases 2023 Reporting Framework and updates on Accountability

1 February 2023 No Comments By DT Vollmer

The Principles for Responsible Investment (PRI) recently published its 2023 Reporting Framework (the Framework) and updates to its minimum requirements for PRI memberships for investors. PRI noted the following key changes to the Framework: Improved clarity. Terminology of all indicators has been revised to ensure that terms are neither too prescriptive nor too generic. PRI also revised questions and response options to reduce ambiguity. Improved consistency and applicability. PRI performed a systematic applicability check of all indicators in the Framework and adjusted logic paths and/or assessment criteria where practices are no longer applicable. PRI also restructured sections for a clearer and better alignment with other recognised frameworks such as the Task Force on Climate-Related Financial Disclosures, the Taskforce on Nature-related Financial Disclosures, and the International Sustainability Standards Board. Further, PRI removed asset class module reporting for asset owners. Reducing reporting effort. PRI noted that it (i) reduced the granularity of data requested, (ii) decreased the overall number of indicators, and (iii) implemented simpler indicator structures. Minimum requirements. PRI indicated that it is continuing its review of the Framework’s minimum requirements and that the existing minimum requirements for the 2023 reporting cycle will remain the same as in previous years. Interested stakeholders and signatories to PRI are encouraged to register for a webinar providing an overview of the Framework that will be hosted by the PRI on 15 March 2023. For further information or to discuss the contents of this bulletin, please contact Lisa DeMarco at lisa@resilientllp.com.

COP15 Culminates in ‘Historic’ Deal to Protect Nature and Biodiversity

19 December 2022 No Comments By DT Vollmer

Countries meeting as parties to the Convention on Biological Diversity (CBD) at COP15 in Montreal reached an ‘historic’ deal aimed at protecting nature’s biodiversity early today. Draft decision documents are available on the CBD website. The Kunming-Montreal Global Biodiversity Framework (the GBF) sets out 23 conservation targets, including a requirement the countries ensure that at least 30 per cent of terrestrial, inland water, coastal and marine areas are “effectively conserved and managed” by 2030 (referred to as the 30×30 goal). The GBF also includes a requirement that countries take legal, administrative or policy measures to encourage and enable businesses (particularly multi-nationals and financial institutions) to: (a) monitor, assess, and disclose risk and impacts on biodiversity; (b) provide information that promotes sustainable consumption patterns; and (c) report on compliance, all in order to “progressively reduce negative impacts on biodiversity, increase positive impacts, reduce biodiversity-related risks to business and financial institutions, and promote actions to ensure sustainable patterns of production.” In addition, the GBF includes: An acknowledgement of the US$700B annual gap in the estimated cost of preserving nature globally as compared to the amount that is currently spent. A target to close the gap by reducing government subsidies that promote nature loss by at least US$500B per year by 2030. A target to substantially and progressively increase the level of financial resources to implement national biodiversity strategies and action plans by mobilizing at least US$200B per year by 2030, including an increase in financing from developed countries to the developing world to aid in conservation efforts from US$10B to at least US$20B annually by 2025 and at least US$30B annually by 2030. Multiple targets making express reference to the rights and role of Indigenous peoples in protecting nature. Countries previously agreed the Strategic Plan for Biodiversity 2011-2022 under the CBD, which…

Resilient LLP Named Best Law Firm in Multiple Categories by Environmental Finance

13 December 2022 No Comments By DT Vollmer

Resilient LLP is pleased to announce that it has been recognized as an industry leader in global carbon markets by Environmental Finance magazine. Resilient was named the Best Law Firm overall in the North American category for GHG markets, Best Law Firm overall in the North American category for RECs, and runner-up for Best Law Firm in the California category for GHG markets in Environmental Finance’s 23rd Annual Market Rankings. The Annual Market Rankings invite leading brokers, financiers, dealers, and service providers to nominate and vote on leaders in each category based on efficiency and speed of transactions, reliability, innovation, quality of information and services provided, and influence on the market. “We are very pleased to be recognized by our peers across multiple categories in this year’s rankings,” said Lisa DeMarco, Senior Partner and CEO of Resilient. “We are grateful for our clients and the market-leading work and innovative transactions that they are doing.” Environmental Finance published articles on the carbon and REC markets in 2022 alongside the rankings. Resilient LLP provides world-leading multi-jurisdictional climate and clean energy law and advisory services, including legal advice on all aspects of complex carbon markets, emissions trading, and climate policy matters. For further information, please contact Lisa DeMarco at lisa@resilientllp.com.

Who’s Who Legal and Environmental Finance Recognize Resilient LLP

3 October 2022 No Comments By DT Vollmer

Resilient LLP is pleased to announce that Who’s Who Legal (WWL) has recognized Lisa DeMarco, Senior Partner and CEO, as a “Global Elite Thought Leader” in Climate Change Law. She has been identified as leading in climate change law, particularly within the energy market, and described as “the lead climate change lawyer in Canada on any issue.” Resilient is also pleased to announce that it has been recognized as a leading voluntary carbon market specialist by Environmental Finance magazine. The Resilient Team including Jonathan McGillivray (Senior Associate), Daniel Vollmer (Associate), Nicholas Daube (Counsel), John Coyne, and Monika Pecnikova, was named the Runner-Up Best Global Law Firm in Environmental Finance’s 2022 Voluntary Carbon Market Rankings, following the results of its peer review survey. The rankings are the magazine’s annual poll of the market, in which market participants vote for the leading companies, service providers, and initiatives based on efficiency and speed of transaction; reliability; innovation; quality of service provided and influence on the market, not just the volume of transactions handled. “We are very pleased that our partners and clients have recognized our world-leading specialized climate and clean energy legal and advisory services,” said Lisa DeMarco. “We are grateful to have our clients’ trust as we support them in navigating the transition to a net-zero and climate-resilient future.” Resilient LLP is Canada’s only climate and clean energy boutique law firm and provides leading multi-jurisdictional legal advice in the areas of climate change, clean energy, and related Indigenous rights. Read more about our service offering on our website. Please cast your vote for Resilient LLP as Best Law Firm in Environmental Finance’s Annual Market Rankings 2022 by following this link (voting is open until Friday, October 28, 2022). We appreciate your support!

National Day for Truth and Reconciliation

30 September 2022 No Comments By DT Vollmer

Resilient LLP joins all Canadians in reflecting on the path of truth and reconciliation with Indigenous Peoples and marking the second National Day for Truth and Reconciliation this September 30, also known as Orange Shirt Day. We honour and remember the First Nations, Inuit, and Métis children and survivors of Canada’s residential school system and acknowledge the legacy and ongoing impacts of this system on Indigenous communities across Canada. We encourage all Canadians to attend a local event to commemorate today, learn more about the National Day for Truth and Reconciliation, and to engage in the path of truth and reconciliation by reading the Truth and Reconciliation Commission of Canada’s Final Report and Calls to Action and the National Inquiry into Missing and Murdered Indigenous Women and Girls Final Report and Calls for Justice. Support resources for survivors and family members The National Indian Residential School Crisis Line provides 24-hour crisis support to former Indian Residential School students and their families toll-free at 1-866-925-4419. Individuals impacted by the issue of Missing and Murdered Indigenous Women and Girls are encouraged to contact the MMIWG Crisis Line toll-free at 1-844-413-6649. First Nations, Inuit and Métis seeking immediate emotional support can contact the Hope for Wellness Help Line toll-free at 1-855-242-3310, or by online chat at hopeforwellness.ca.