Freehills’ Climate Change team is uniquely placed to supply both the breadth and depth of the legal services required by this evolving area of policy and law. Fully informed by overseas and local developments, our legal services are responsive to the ramifications of these developments and coordinated across all the relevant areas law including environmental, banking & finance, corporate, infrastructure development and intellectual property.

We are currently providing advice on Climate Change to our clients across many industries including banking, energy & resources, property, transport, manufacturing and forestry. 

• Compliance – Positioning for the commencement of the Carbon Pollution Reduction Scheme and for the rationalisation of existing climate change and renewable energy regulatory regimes. Mandatory greenhouse and energy reporting under the existing National Greenhouse and Energy Reporting Act 2007(Cth). Legal and business strategies for maximising opportunities and minimising risks in a carbon-constrained environment (including advocacy to the numerous consultative processes underway or planned). Disclosure obligations under the Corporations Act and ASX listing rules.  Trade Practices issues (and other corporate disclosure issues)
• Contract documentation – As part of M&A activity, additional due diligence scoping/planning memoranda in relation to assets that will be affected in a carbon-constrained environment. As part of day to day business, review of existing and future contracts such as pass through of carbon costs for supply/procurement agreements, sale and purchase agreements/ warranties, leases and financing/security arrangements.
• Emerging Markets – New market opportunities in the areas of energy and renewable energy infrastructure. Developing of new industries that are less carbon intensive. CDM projects, creating and dealing in RECs, NGACs, VRETs and voluntary abatement. Carbon trading. Development, commercialisation and protection (IP) of carbon reduction technologies.

Examples of our recent experience include:

• Adelaide Brighton Limited – Advising Adelaide Brighton Limited, a major Australian cement producer, generally in relation to its greenhouse and carbon legal strategies.
• Australian Gas Light Company Limited – Drafting for Australian Gas Light Company Limited a generic agreement for the sale of ‘carbon credits’
• Avis Australia Limited – Advising Avis Australia Limited, a major Australian hire car provider, in relation to carbon offsets.
• Babcock & Brown Australia Pty Limited – Advising Babcock & Brown Australia Pty Limited, a major Australian investment bank, generally in relation to its greenhouse and carbon legal strategies.
• BHP Billiton Petroleum (Bass Strait) Pty Ltd – Advising BHP Billiton Petroleum (Bass Strait) Pty Ltd, a major Australian supplier of petroleum, in relation to proposed legislation and policies concerning onshore carbon capture and storage (CCS) and the proposed Commonwealth offshore CCS regime.
• Caltex Australia Limited – Advising Caltex Australia Limited, Australia’s largest oil refiner and marketer, generally in relation to its greenhouse and carbon legal strategies, including advice in relation to carbon-cost pass-through clauses in a wide variety of significant contracts, the likely impacts of the proposed Australian emissions trading scheme, and in relation to its reporting obligations under the National Greenhouse and Energy Reporting Act 2007 (Cth).
• CO₂ Australia Limited – Advising CO₂ Australia Limited on its change of activities from a mining company to a company focused on the production of carbon credits through biosequestration, funding structures and patent applications relating to the carbon credit production process and trademark applications.
• Lend Lease Corporation Limited – Advising Lend Lease Corporation Limited, a major Australian property investor and developer, generally in relation to its greenhouse and carbon legal strategies.
• Mitsubishi Development Pty Limited – Advising Mitsubishi Development Pty Limited, a major Australian coal and minerals producer, in relation to its reporting obligations under the National Greenhouse and Energy Reporting Act 2007 (Cth) and on related issues concerning the structuring of its joint venture arrangements.
  

Climate change issues are at the forefront of global climate concerns. Within Australia, climate change has emerged as a mainstream political issue. There has been a recent change of attitude to this issue on the part of the federal government and in many business circles. There is no doubt that the Federal Government accepts both the reality of climate change and the need to implement substantial measures to combat or mitigate it.

These efforts and initiatives will undoubtedly effect the way Freehills and our clients do business. With this in mind, Freehills’ position as a market leader across various industries and the relevant areas law including environmental, banking & finance, corporate, infrastructure development and intellectual property, enables us provide the most informed, innovative, expert and comprehensive strategic advice available in relation climate change.

The Carbon Pollution Reduction Scheme Bill 2009

On 10 March 2009, the Federal Government released exposure draft legislation for its proposed Australian greenhouse gas emissions trading scheme, the Carbon Pollution Reduction Scheme, in the form of the Carbon Pollution Reduction Scheme Bill 2009 (Cth) and five related Bills. More »

Emissions trading in Australia

An extensive review is given of the Australian Federal Government’s White Paper on the proposed Australian greenhouse gas emissions trading scheme. More »

CPRS White Paper: Waste industry

The 15 December 2008 White Paper outlines the Australian Federal Government’s medium-term 2020 target for Australian greenhouse gas emissions reductions, and intended final design of the Carbon Pollution Reduction Scheme (CPRS). This document summarises the position taken in the White Paper for the waste industry. More »

CPRS White Paper: Oil & Gas issues

The White Paper released on 15 December 2008 outlines the Australian Federal Government’s medium-term 2020 target for Australian greenhouse gas emissions reductions, and intended final design of the Carbon Pollution Reduction Scheme. This article summarises the implications of the White Paper for the oil & gas industry, including for the production of Liquefied Natural Gas and Carbon Capture & Storage. More »

CPRS White Paper: Coal issues

The coal mining industry will be affected both directly and indirectly by the Federal Government’s proposals for an emissions trading scheme. More » 

CPRS White Paper: EITE Assistance Program

This paper sets out how the EITE assistance program will operate as detailed by the White Paper and the subsequent Guidance Paper released in February 2009 concerning the assessment of activities for the purposes of the EITE assistance program. More »

Legal aspects of geosequestration

Geosequestration or carbon capture and storage plays a significant role in the current legal landscape as part of the global effort to combat dangerous levels of climate change. More »

Revised Federal Renewable Energy Target

One of the ‘four elements’ of the Federal Government’s carbon pollution reduction strategy is the expanded Renewable Energy Target (RET). The RET expands the existing renewable energy target from two per cent by 2010 to 20 per cent by 2020. In its White Paper released on 15 December 2008, the Federal Government noted that the stationary energy sector produces about 50 per cent of Australia’s greenhouse gas emissions and therefore presents the ‘greatest potential to deliver reductions’. More »

Legal guides

• Tier 1 Ranking, Energy & Natural Resources, Chambers Global Guide (2010, 2009)
• Leading Firm, Energy, PLC Which Lawyer? Yearbook (2009, 2008, 2007, 2006, 2005)
• Tier 1 Ranking, Environment, Chambers Global Guide (2010, 2009)

Testimonials

• ‘The firm is also extremely active in the increasingly important renewable energy sector. It has wide expertise and is fantastic at determining exactly what clients want and delivering this in a reasonable timeframe.’ Chambers Global 2009