Climate Change
Fasken Martineau recognizes the importance that emissions trading plays in addressing Climate Change and promoting the use of renewable energy. To achieve the most efficient carbon market, we believe in a liquid market system and the promotion of innovation. Our goal is to assist businesses in developing projects that capitalize on the use of carbon markets to create a cleaner and safer environment. Active in this area since 1997, our group has a strong presence in this emerging field, enabling us to offer emissions trading expertise across North America and internationally. We can provide clients with a comprehensive range of legal services for all aspects of their Climate Change and emissions trading activities.
Carbon Risk: Assessment & Management
Climate Change has brought with it new risk for businesses in terms of unexpected and unwelcome expenses related to their carbon emissions. At Fasken Martineau, we believe that understanding and managing this "Carbon Risk" is the key to developing new and innovative business strategies. Through an in-depth analysis of our client's activities and a review of carbon market opportunities, we offer guidance to clients in the assessment of their Carbon Exposure and the quantification, verification and certification of Greenhouse Gas ("GHG") Emissions. Our group can also provide training on governmental Climate Change action plans, as well as on the legislative and regulatory mechanisms applicable to Climate Change issues. We work with clients to develop effective Carbon Management systems, starting with internal corporate policies that appropriately deal with GHG Emissions and produce environmentally-sound surroundings. Carbon Management also involves compliance with the applicable regulations in force, devising carbon market strategies to create new business opportunities (such as financing) and informing shareholders of the Carbon Risk associated with their business partners and suppliers.
Carbon and Energy Market Opportunities
Along with the development of regulated carbon markets in Europe, Canada and in the U.S., the voluntary carbon market has been growing steadily and significantly during the past few years. New projects (those related to renewable energy and energy efficiency) will lead to a reduction in GHG emissions for some clients and the attribution of the corresponding emissions credits. Furthermore, additional opportunities arise through the European emissions trading scheme and clean development mechanism projects. At Fasken Martineau, we assist our clients in assessing the various business opportunities arising from this mosaic of carbon markets and with the development and the execution of Climate Change-related projects.
Carbon Emissions Credit Transactions
Trade in emissions credits is increasing in North America. At Fasken Martineau, we can assist in drafting and negotiating agreements concerning the sale and purchase of emissions credits, or indeed any other agreement related to Climate Change. We possess the specific knowledge to ensure that clients are protected from the market's contingencies, while still benefiting from their involvement in the carbon markets. We also advise creative businesses and entities engaged in the development, conduct, financing and implementation of cutting-edge projects, the government and various carbon market participants on how to actively shape the regulated and voluntary markets.
A sample of our recent Climate Change work includes the following:
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Counsel to a VER's (Voluntary Emission Reductions) and CER's (Certified Emission Reduction) Project Originator aggregating credits through use of investment and trading funds
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Assisted a client in drafting a sale contract of VER's (representing 100,000 tons of GHG per year)
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Assisted an African firm in drafting and negotiating a brokerage service contract with an international brokerage firm for the sale of 2,000,000 CER's from a clean development mechanism project in line with the Kyoto Protocol
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Assisted an African firm in drafting a memorandum of understanding on a partnership with a German engineering firm in setting up a clean development mechanism project in line with the Kyoto Protocol
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Negotiated a cross-border emission reduction purchase agreement on behalf of a consortium of energy and utility companies with respect to a geologic sink project
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Advised an energy company on strategic considerations in negotiating a carbon intensive product procurement and supply agreement
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Counsel to a developer of an online retail carbon offset system
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Conceptualization of underlining for carbon contract for financial entities
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Advised an industry association regarding the application of the annual fee recently set up by the Quebec government in order to fund the Green Fund and its various actions on Climate Change
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Assisted a client in setting up an electric power plant to replace a 500 MT fuel oil plant emitting 1,000,000 tons of GHG annually
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Assisted a client in analyzing the legal and regulatory issues of building a thermal power plant, as well as the resulting GHG emissions
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Assisted a client in the certification of GHG emissions resulting from afforestation activities in the voluntary carbon market
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Assisted an operator of a landfill in selling its VER's on the voluntary market to a large final emitter (representing 2,000 tons of GHG)
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Assisted a client in monetizing renewable energy certificates into the North-East US market
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Advised clients on Clean Development Mechanism and Joint Implementation Projects
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Advised clients on Offset, Renewable Energy and Energy Efficiency projects
At Fasken Martineau, we are ready to respond to and resolve all questions regarding our clients' business activities that are affected by Climate Change.
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