The objectives in brief The Government would like to see the aquaculture industry grow, provided that it can do so in a sustainable manner. Statistics produced by the Directorate of Fisheries show that Norway produced and sold a total of just under 1.5 million tonnes of rainbow trout, trout and Atlantic salmon in 2020 ...
Hong Kong’s Securities and Futures Commission (SFC) has announced details of requirements for fund managers to address climate change in their investment and risk management processes and make appropriate disclosures. Where are the requirements set out? On 20 August 2021, the SFC issued: Consultation Conclusions on the Management and Disclosure of Climate-related Risks by Fund Managers with amendments to the Fund Manager Code of Conduct (FMCC) set out in Appendix B and C ...
It will be news to few that the construction industry is experiencing a serious shortage of key materials. The Construction Leadership Council first warned of shortages (in timber, steel, pitched roofing, plastics, paints/coatings, some electronic components and cement – among other materials) early this year, and has reiterated its concerns since ...
Key Points Ninth Circuit reaffirms the “significant nexus” test for determining whether filling certain wetlands in 2007 violates the Clean Water Act The narrower test for determining the Clean Water Act’s jurisdiction under the 2020 Navigable Waters Protection Rule did not apply since it postdated the 2007 filling of the wetlands ...
The freeze partnership is an often overlooked estate tax planning tool. Unlike more common estate tax planning vehicles, the freeze partnership is not a trust and, as the name implies, is a closely-held partnership, limited partnership or LLC (in this article, the term partnership will be used to refer to partnerships, limited partnerships and LLCs) ...
Water Law On August 20, 2021, the Deputy Director of the Division of Water Rights (Deputy Director) of the State Water Resources Control Board (State Water Board) issued water curtailment orders for the remainder of August and for all of September to approximately 4,500 water right holders in the Sacramento-San Joaquin Delta watershed (Delta Watershed). These curtailment orders affect post-1914, pre-1914, and riparian rights, though in different ways, as described further below ...
The Green and Sustainable Finance Cross-Agency Steering Group co-chaired by the HKMA and the SFC (Steering Group) announced on 15 July 2021 the next steps to advance its strategy to bolster Hong Kong’s position as a leader in green and sustainable finance and help transition the financial ecosystem towards carbon neutrality ...
As we approach COP26 in Glasgow in November, a vast amount of policy development is underway to help develop the strategies we need to address the global climate crisis. A central challenge is changing consumer behaviour, which is a complex and multi-faceted issue. It raises questions around affordability, such as changing heating systems, purchasing zero emissions vehicles and better insulating our homes ...
“We have to hurry, we have to get faster in the fight against climate change.” Those were the words of Angela Merkel, the German Chancellor, after surveying the devastation caused by record floods in western Germany in early July. Private transport is one of the world’s biggest sources of greenhouse gases, with emissions rising every year, and the transition to electric vehicles is fundamental in the fight against climate change ...
Water Law Effective August 19, 2021, emergency regulations were approved for water curtailment orders and related reporting requirements in the Sacramento-San Joaquin Delta watershed, defined as Hydrologic Unit Code level 4 Sacramento and level 4 San Joaquin subregions (Delta Watershed), as shown in the map below ...
Following the passage of its commercial eviction moratorium for certain qualified tenants in December 2020,[1] the San Francisco Board of Supervisors, on August 4, 2021, provided additional assistance to the same class of “Covered Commercial Tenants” by establishing a new evidentiary presumption aimed at excusing payment of past due rent. To the extent applicable, the presumption applies to all past due rent as of March 16, 2020 ...
The Tokyo Olympic Games have been dubbed the greenest Games to date. Despite some criticism levelled against the claims of their eco-friendly nature, it is notable that the Tokyo Olympics Organising Committee has made significant strides to minimise the Games’ carbon footprint ...
The cornerstone of the California Environmental Quality Act (CEQA) is access to information. CEQA generally requires local and state government agencies ("lead agencies") overseeing proposed projects to prepare project-related documents assessing potential environmental impacts. These documents inform decision-makers and the public of the project's potential environmental impacts ...
On July 30, 2021, the Central Administrative Court rendered its verdict against, among others, the Director of Wattana District, Bangkok Metropolis; the Governor of Bangkok Metropolis; and the Governor of the Mass Rapid Transit Authority of Thailand, revoking all governmental authorizations with respect to the construction of Ashton Asoke Condominium Project ...
On August 12, in a 6-3 decision, the U.S. Supreme Court issued an order enjoining the portion of a New York State statute which provided that tenants could establish that they had suffered COVID-related economic hardship by means of self-certification. Under the New York law, eviction actions based on non-payment of rent could not go forward if a tenant submitted such a self-certification. Under the law, landlords could not contest the tenant’s declaration in court ...
In Thailand, each year, there are many projects developed by project developers, both governmental authorities and private entities. Before starting to develop a project, each project developer should not only be aware of commercial factors, but also be aware of the environmental factors of the project. One of the main environmental factors to be considered before starting the construction or operation of a project is the completion of an environmental impact assessment (“EIA“) ...
Summary Liquidated damages (LDs) are predetermined damages set when a contract is entered into, based on a calculation of the estimated loss likely to be incurred if the contractor fails to meet specific dates. LDs clauses are commonplace in commercial contracts. In construction contracts, they generally apply where the contractor fails to complete works by specified dates due to reasons for which the contractor is culpable ...
Smart buildings offer individuals, businesses and even cities better and more efficient ambient experiences. However, the connected technologies that make buildings “smart” tend to require processing massive amounts of data inputs, often including personal information ...
The recent decision in the Technology and Construction Court (“TCC”) in Toppan Holdings Limited and Abbey Healthcare (Mill Hill) Limited v Simply Construct (UK) LLP arguably does no more than follow precedent. But the outcome is significant for anyone taking a collateral warranty. The lesson is: get a warranty signed promptly, if you do not want to lose the right to adjudicate ...
Renewable energy is more popular than ever before. Regulators and ratepayers are demanding new or higher renewable portfolio standards, and investors are eager for opportunities with companies satisfying environmental, social and governance criteria. The energy transition is here, and the question is no longer if we will electrify, but how quickly. Significant challenges remain. As the U.S ...
In the recent case of Granton Central Developments Ltd v Len Lothian Ltd, a commercial landlord appealed successfully against a Sheriff’s decision that it was obliged to provide, and that its tenant was entitled to receive, a supply of water to leased subjects. Background to the utilities dispute Granton Central Developments Ltd and Len Lothian Ltd were the landlord and tenant respectively in terms of a lease of commercial premises in Granton, Edinburgh ...
The ESG Disclosure Rules have been introduced in response to the increased investor appetite for socially and environmentally responsible investments and to ensure that Jersey maintains its high regulatory standards amid global concerns regarding ‘greenwashing’ (firms marketing investments which appear more environmentally and socially focussed than they are in reality) ...
