Ĭlimate change is setting the scene and directing the actions taken by public bodies (eg, policymakers, governments, regulators) and private bodies (eg, energy majors, investment funds) alike. At the time of writing, according to available data, 94 per cent of countries globally have set out emission targets (including net zero, carbon neutrality, zero carbon, emission intensity, emission reduction and 1.5⁰C targets), and 10 per cent of those have included those targets in law. Notably, since the signing of the Paris Agreement, governments around the world have taken steps to curb the effect of climate change through a variety of actions, such as setting date targets by which they would achieve ‘net zero’, phase out timelines of fossil fuels such as coal, introducing policies and laws to incentivise the development of low carbon generation assets. The transition to a low-carbon economy is not a new phenomenon, but one that has gained significant momentum in the past decade. US Plan for Climate Change and Environmental Justice.Changing face of investment in the energy sector.Climate change as a growing source of disputes. ![]() The energy transition is changing investment incentives and priorities, and this seems likely to lead to disputes. Climate-related claims look set to increase in both litigation and arbitration contexts, and legislative and regulatory changes are creating more grounds for claims.
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