The Australian climate change practice applies expertise from
commercial, environmental, finance, project, construction and tax
law disciplines to support business to understand and plan ahead
for climate change and carbon reduction. To date, given the lack of
progress made in introducing an emissions trading scheme, the
Australian practice has focussed on assisting clients with
submissions to policy documents or draft legislation, providing
analysis and briefings on the implications of an emissions trading
scheme for various industry sectors and advising on interpretation
and compliance issues arising under the National Greenhouse and
Energy Reporting System (Australia's new greenhouse gas
emission reporting legislation). We also have a very strong
renewable energy practice area, with extensive experience in the
wind, hydro and solar industry sectors.
Our primary and related practice areas in Australia include:
Advising on international, regional and domestic climate law
Greenhouse gas emissions and energy reporting requirements
Emissions trading schemes
Greenhouse gas abatements and offsets, including forestry
Green building development and construction projects, including
Carbon aspects of corporate transactions and contractual
Renewable energy projects (including wind, hydro, solar and bio
gas) – development, financing and management
Carbon capture and storage
Tax implications of climate change policy.
Norton Rose Australia is one of only three Australian firms
listed as 'carbon verified' in the Managing Partners Forum
(MPF) Carbon Footprint Report 2008.
Three examples of our team's experience –
Norton Rose Australia has worked closely with the waste industry
over the last few years to advise them on the implications of the
proposed Carbon Pollution Reduction Scheme (CPRS).
Waste is proposed to be a covered sector under the current version
of the Scheme. We have prepared an issues paper for the Waste
Management Association of Australia on the implications of the
introduction of an Australian Emissions Trading Scheme for the
waste/resource recovery industry. The paper was provided to the
Garnaut Climate Change Review and the Department of Climate Change
as part of submissions made by the Association on the design and
introduction of emissions trading in Australia. Norton Rose
Australia, in conjunction with URS, also drafted the
Association's submission to the Federal Government's Green
Paper. Norton Rose Australia was also commissioned by the
Australian Landfill Owners Association to redraft sections of the
CPRS Bill dealing with treatment of landfills, for submission to
the Federal Government. This work successfully helped the waste
industry to have legacy waste emissions excluded from the CPRS. We
have provided advice to individual waste companies and landfill
owners on their potential liability under the Scheme and
opportunities to access the international compliance market for
CCS Flagships Program
Norton Rose Australia is currently advising the Commonwealth
Department of Resources Energy and Tourism on the funding
agreements for the CCS Flagships Program. The CCS Flagships Program
is one aspect of the Federal Government's Clean Energy
Initiative. The funding is intended to support construction and
demonstration of large-scale integrated carbon capture and storage
projects in Australia, which may include gasification,
post-combustion capture, oxy-firing, transport and storage
technologies. The target is to create 1000MW of low emission fossil
fuel generation. It is anticipated that up to four projects may
receive funding assistance of $2.425 billion over nine years.
BP - Carbon Conscious
Norton Rose Australia advised, in conjunction with Norton Rose
Singapore and Norton Rose London, BP Singapore
(BPS) on an agreement with Carbon Conscious
Limited, an Australian listed company. Under the agreement, BPS
will pay Carbon Conscious to create large scale commercial
plantings of Mallee Eucalypt trees in the wheatbelt region of
Australia. These trees will absorb carbon from the atmosphere,
producing Australian Emission Units which should be tradable under
the Australian government's proposed Carbon Pollution Reduction
Scheme. This is the first investment by BP's emissions asset
business in the region. It involved a complex transaction structure
being put in place in an uncertain regulatory environment, in a
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