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The United Nations Environment Programme (UNEP) recently published its annual emissions gap report: Emission Gap Report 2023: Broken Record (the Report). The Report provides an assessment of the gap between pledged and actual greenhouse gas (GHG) emissions reductions and the reductions required to align with the long-term temperature goal of the Paris Agreement and is published annually in the lead-up to the UN Climate Change Conference. COP 28, set to start Thursday in Dubai, will mark the conclusion of the first Global Stocktake under the Paris Agreement, which is very likely to acknowledge that current Nationally Determined Contributions (NDCs) are insufficient to achieve the goals of the Paris Agreement. The UNEP Report highlights the need for immediate implementation of solutions to the emissions problem. Article 6 of the Paris Agreement represents a viable mechanism to channel capital at the levels required in the time available. The Public Policy Forum, together with Resilient LLP and the International Emissions Trading Association, released a report last week titled The Missing Article: How to get Canada back in the game on Article 6. This bulletin briefly summarizes the key findings of the Report. The emissions gap in 2030 remains high. The Report indicates that current unconditional NDCs result in a 14 GtCO2e gap for a 2°C goal and a 22 GtCO2e gap for the 1.5°C goal. Full implementation of unconditional and conditional NDCs would reduce these estimates by 3 GtCO2e.   Figure: GHG emissions under different scenarios and the emissions gap in 2030 and 2035 Source: UNEP, Emissions Gap Report 2023, Figure 4.2   Likelihood of limiting warming to 1.5°C remains low. The Report found that there is only a 14% likelihood of limiting warming to 1.5°C and that current policies are likely to see temperature rise by 3°C compared to pre-industrial levels. However, implementing all unconditional and conditional pledges by 2030…

We are pleased to announce the release of an Article 6 report published by Public Policy Forum, authored by Lisa DeMarco (Resilient LLP), Katie Sullivan (IETA), and Steve MacDonald (+SM). The report, entitled The Missing Article: How to Get Canada Back in the Game on Article 6, is available now on PPF’s website and sets out a pathway for Canada to maximize the opportunity and minimize the cost of energy transition through Article 6.

This International Women’s Day (IWD), Resilient LLP celebrates the remarkable social, economic, cultural, and political achievements of women and girls in Canada and around the world. IWD 2023’s theme, #EmbraceEquity, reminds us that we must continue to challenge gender stereotypes, call out discrimination, draw attention to bias, support diversity, and seek out inclusion as we all work towards achieving gender equality.    Resilient is proud to be a woman-led organization that is gender, 2SLGBTQIA+, racially and culturally inclusive and committed to providing clients with advice that benefits from the diverse and inclusive perspectives of our professionals.   We encourage everyone to amplify the voices of women and girls – today and every day – and participate in one of the many events supporting IWD as we seek to create a more just, equal, and equitable world. For further information or to discuss the contents of this bulletin, please contact Lisa DeMarco at lisa@resilientllp.com.

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.

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!