Law Commons^™

Shocking Financed Emissions: The Effect Of Economic Volatility On The Portfolio Footprinting Of Financial Institutions, Ilmi Granoff, Tonya Lee

Sabin Center for Climate Change Law

Many financial institutions are now calculating and disclosing their financed emissions, a class of metrics enabling these institutions to calculate the greenhouse gas (GHG) emissions associated with investment and lending activities. These institutions have widely adopted the metric to estimate exposure to climate-related financial risk associated with GHG-emitting activities and to provide shareholders and investors a picture of how their financial activity impacts global climate change. Financed emissions metrics, despite widespread adoption, face two key methodological challenges: lack of comparability of outputs within and between portfolios, and vulnerability of calculations to portfolio volatility. Markets are naturally volatile, but the economic …

Climate Change And Human Health: A Synthesis Of Scientific Research And State Obligations Under International Law, Jessica A. Wentz

Sabin Center for Climate Change Law

This report synthesizes the latest scientific research on the human health effects of climate change and discusses the legal implications of this research, specifically with regards to State obligations under international law. In doing so, the report seeks to provide insights on issues to be analyzed by the International Court of Justice (ICJ) in its upcoming advisory opinion on the legal obligations of States with respect to climate change. It also seeks to enhance the capacity of judges, advocates, and governments to understand these issues in the context of current and future proceedings involving international law obligations related to climate …

Recommendations To Update The Ftc & Doj’S Guidelines For Collaborations Among Competitors, Cynthia Hanawalt, Denise Hearn, Chloe Field

Sabin Center for Climate Change Law

Existing joint agency guidance from the FTC and DOJ, “Antitrust Guidelines for Collaborations Among Competitors” was written in 2000 and is misaligned with the agencies’ focus on market power considerations and protecting the competitive process. This white paper seeks to provide a rationale and suggestions for revising the collaboration guidelines. We look to examples in other jurisdictions, with an eye to their treatment of sustainability-related collaborations, as many were updated with these considerations in mind. Importantly, we do not recommend that updated guidelines follow international examples in creating explicit sustainability-related carve outs, safe harbors, or exemptions. Due to the complex …

The Private Litigation Impact Of New York’S Green Amendment, Evan Bianchi, Sean Di Luccio, Martin Lockman, Vincent Nolette

Sabin Center for Climate Change Law

The increasing urgency of climate change, combined with federal environmental inaction under the Trump Administration, inspired a wave of environmental action at the state and local level. Building on the environmental movement of the 1970s, activists have pushed to amend more than a dozen state constitutions to include “green amendments” — self-executing individual rights to a clean environment. In 2022, New York activists succeeded, and New York’s Green Amendment (the NYGA) now provides that “Each person shall have a right to clean air and water, and a healthful environment.”

However, the power of the NYGA and similar green amendments turns …

Incorporating Climate Considerations Into Investment Assessment Processes: Guidance For National And Local Governments, Esther Akwii, Grace Brennan, Leslie Hannay, Martin Dietrich Brauch, Nora Mardirossian

Columbia Center on Sustainable Investment

Global climate change impacts pose complex, dynamic challenges to the success of land-based investments — such as agriculture, forestry, and wind and solar energy — which can further exacerbate detrimental climate change impacts if they are not sustainably implemented. Countries outline in their Nationally Determined Contributions (NDCs) their goals and plans to reduce GHG emissions and adapt to climate change impacts. To ensure their success, governments must fully integrate their NDCs into national climate strategies, plans, and policies that drive government action and decisions. Improved land-based investment decision-making through the incorporation of climate considerations in investment assessment processes (IAPs) can …

International Governance Of Ocean-Based Carbon Dioxide Removal: Recent Developments And Future Directions, Romany M. Webb

Sabin Center for Climate Change Law

With the impacts of climate change intensifying, and progress in reducing the greenhouse gas emissions that cause it continuing to lag, the parties to the Paris Climate Agreement have emphasized the need to accelerate efforts to remove carbon dioxide from the atmosphere, while simultaneously curbing emissions. As the parties have recognized, the ocean is already a major carbon sink, and could play an important role in future carbon dioxide removal (“CDR”) efforts. Scientists have proposed a variety of ocean-based CDR approaches, but most require further research to fully evaluate their efficacy, benefits, and risks. In-ocean testing of the approaches, and …

Executive Actions To Ensure Safe And Responsible Ocean Carbon Dioxide Removal Research In The United States, Romany M. Webb, Korey Silverman-Roati

Sabin Center for Climate Change Law

This paper presents recommended actions that federal agencies could take, under existing law, to ensure safe and responsible permitting and regulation of ocean carbon dioxide removal (CDR) research in U.S. waters. Controlled field trials and other in-ocean research is critical to improve scientific and societal understanding of ocean CDR techniques that could help the U.S. reach its climate goals. That could raise a host of legal issues, however. Existing legal frameworks were not designed to regulate ocean CDR, and federal agencies have yet to fully explain how decades-old environmental laws will be applied to a new set of activities. This …

Rebutting 33 False Claims About Solar, Wind, And Electric Vehicles, Matthew Eisenson, Jacob Elkin, Andy Fitch, Matthew Ard, Kaya Sittinger, Samuel Lavine

Sabin Center for Climate Change Law

Achieving the United States’ ambitious emissions reduction goals depends in large part on the rapid adoption of wind and solar energy and the electrification of consumer vehicles. However, misinformation and coordinated disinformation about renewable energy is widespread and threatens to undermine the transition. In this report, the Sabin Center identifies and examines 33 of the most pervasive false claims about solar energy, wind energy, and electric vehicles, with the aim of promoting a more informed discussion.

Building A Cleaner, More Resilient Energy System In Cuba: Opportunities And Challenges, Korey Silverman-Roati, Daniel Whittle, Romany M. Webb, Jeffrey P. Fralick, Lila Harmar

Sabin Center for Climate Change Law

Cuba’s energy sector is at a crossroads. The country’s mostly fossil fuel-fired energy system faces a number of longstanding and serious challenges, including breakdowns at aging power plants, decreasing fuel imports and fuel shortages, and the growing threat of climate change-related disruptions. In recent years, Cuba has seen frequent electric blackouts and brownouts that have affected residents, businesses, and government institutions island wide.

Compounding these problems, Cuba is facing a severe economic crisis. In 2022, year-on-year inflation was 39% (down from 77% in 2021). While inflation is estimated to have dropped to 30% in 2023, the price of food increased …

Advisory Opinion On Climate Change: Summary Of Written Observations Submitted To The Inter-American Court Of Human Rights (Part 1), Maria Antonia Tigre

Sabin Center for Climate Change Law

On January 9, 2023, the Foreign Ministers of Chile and Colombia requested an advisory opinion from the Inter-American Court of Human Rights (IACtHR) on the scope of state obligations for responding to the climate emergency under the frame of international human rights law and, specifically, under the American Convention on Human Rights. Within this context, the IACtHR received a total of 255 amicus brief submissions.

This report includes summaries of the amicus briefs submitted to the Court. Due to the number of submissions received and the short timeframe prior to the hearings, the report is divided into parts. This first …

Sabin Center For Climate Change Law Annual Report 2023, Sabin Center For Climate Change Law

Sabin Center for Climate Change Law

This year the Sabin Center for Climate Change introduces its first annual report, which highlights and synthesizes our cutting-edge research and innovative engagements in 2023.

Common But Differentiated Constitutionalisms: Does ‘Environmental Constitutionalism’ Offer Realistic Policy Options For Improving Un Environmental Law And Governance? Us And Latin American Perspectives, Erin Daly, Maria Antonia Tigre, Natalia Urzola

Sabin Center for Climate Change Law

Environmental law and governance have taken many different forms in the Americas in response to climate change mitigation. This contribution describes recent developments in the United States, Colombia, and Brazil, illustrating the divergent approaches to climate protection. The chapter highlights the common but differentiated ways in which the three countries in the Americas approach environment constitutionalism in the midst of the climate crisis. On one hand, Brazil and Colombia adopt a rights-based approach to tackle complex issues related to environmental law and governance in their context-specific responses to climate protection. In particular, the courts of Colombia and Brazil have been …

It Is (Finally) Time For And Advisory Opinion On Climate Change: Challenges And Opportunities On A Trio Of Initiatives, Maria Antonia Tigre

Sabin Center for Climate Change Law

In recent years, the number and diversity of climate-related lawsuits have increased, with courts in over seventy jurisdictions now handling such cases. After the expansion through domestic courts, stakeholders worldwide are turning to international courts and tribunals to help define the responsibilities of states in light of the climate crisis. Three initiatives requesting advisory opinions to international courts or tribunals have been announced within six months. These advisory opinions could have significant implications for international climate change law, defining the human rights obligations of states (and potentially corporations) in light of the climate crisis. It is expected the International Court …

Harms From Concentrated Industries: A Primer, Denise Hearn

Columbia Center on Sustainable Investment

Market concentration within sectors and across global value chains has increased in recent years, leading to new scholarship on the benefits and harms of concentrated industries. The macroeconomic effects of market concentration, and its effects on stakeholders like workers, consumers, and citizens, will significantly impact the achievement of the SDGs. Read CCSI's primer on the Harms from Concentrated Industries here.

Billion-Dollar Exposure: Investor-State Dispute Settlement In Mozambique’S Fossil Fuel Sector, Lea Di Salvatore, Maria Julia Gubeissi

Columbia Center on Sustainable Investment

Alongside preparing for climate change, Africa should invest in the zero-carbon future, avoiding locking itself into the declining fossil fuel–based economy while taking advantage of the opportunities presented by decarbonization. However, investment treaties and investor–state dispute settlement (ISDS) hinder, rather than catalyze, the transition to climate-friendly investment opportunities. This report shows how Mozambique’s international investment agreements and publicly available oil, gas, and coal contracts allow foreign investors to bypass the national judicial system and bring multi-billion-dollar ISDS claims against Mozambique. Such claims can result in significant costs for the country, and they also have a chilling effect on new public-interest …

The Right To A Healthy Environment In Latin America And The Caribbean: Compliance Through The Inter-American System And The Escazú Agreement, Maria Antonia Tigre

Sabin Center for Climate Change Law

The Escazú Agreement has brought a myriad of environmental rights and duties to Latin America and the Caribbean (LAC), including the recognition of a right to a healthy environment and rights of environmental defenders. As a new agreement, the task of implementing the Escazú Agreement still lies ahead. Significantly, a non-judicial, non-punitive, consultative and transparent Committee to support Implementation and Compliance was established as a subsidiary body of the Conference of the Parties to promote implementation. Concomitantly, the Inter-American Court of Human Rights recognised an autonomous right to a healthy environment, establishing it as directly justiciable within the Inter-American System …

How The International Investment Law Regime Undermines Access To Justice For Investment-Affected Stakeholders, Ladan Mehranvar

Columbia Center on Sustainable Investment

For over a decade now, the international investment law regime, which includes investment treaties and their central pillar, the investor-state dispute settlement (ISDS) mechanism, has been facing sustained calls for reform. These have largely centered on the concerns regarding the high costs of ISDS, the restrictions placed by the investment treaty regime on the right—or duty—of states to regulate in the public interest, and the questionable benefits arising from these treaties in the first place. Several states have taken proactive measures: some have revised investment treaty standards to better protect their regulatory powers; others have introduced new approaches to investment …

An International Law Framework For Climate-Aligned Investment Governance, Martin Dietrich Brauch, Elena Klonsky, Fanny Marie Everard, Qiaozi Guanglin, Tyler Alviano, Justin Cuddihey, Mary Wang

Columbia Center on Sustainable Investment

The January 2024 CCSI Working Paper, An International Law Framework for Climate-Aligned Investment Governance, outlines a framework — and invites and hopes to inspire further thinking, research, and discussion — on how to bridge gaps and build cohesion among various areas of international law relevant to investment in climate mitigation and adaptation. The working paper identifies areas of international law that are or could be relevant to investment governance, highlights points of inconsistency, and proposes a framework to reform and integrate international law with the objective of promoting and facilitating climate investment flows and achieving climate-aligned regulation of investment.

New York City Relaxing Environmental Review Rules For Housing Construction, Michael B. Gerrard

Faculty Scholarship

Faced with a severe housing shortage, New York City is exempting the construction of much new housing from the environmental review processes and taking many other steps to encourage such construction throughout the city. Several of these moves will also help the transition away from fossil fuels to renewable energy.

Legal Issues In Oceanic Transport Of Carbon Dioxide For Sequestration, Carolina Arlota, Michael B. Gerrard, Pria Deanna Mahadevan

Faculty Scholarship

A number of large facilities intended for the permanent sequestration of carbon dioxide are being developed in the United States. Several of them will be located in Texas and Louisiana on or near the coast of the Gulf of Mexico, making them easily accessible to ships. At the same time, there is substantial interest in Europe in installing equipment to capture carbon dioxide from certain industrial operations before it is emitted into the atmosphere, but currently there are inadequate facilities existing in Europe to sequester much of this carbon dioxide. Therefore, there is interest in the possibility of using ships …

New York Environmental Legislation In 2023, Michael B. Gerrard

Faculty Scholarship

In 2023, New York enacted laws to aid the state in achieving the renewable energy and greenhouse gas emissions reduction mandates of the 2019 Climate Leadership and Community Protection Act (CLCPA).The state also now has new laws to reduce exposure to lead in drinking water and paint; to ban natural gas furnaces and stoves in new buildings; to restrict neonicotinoid pesticides; and to encourage “nature-based solutions” for stabilizing tidal coastlines. These and other new and amended environmental and energy laws—as well as notable vetoes—are discussed in this article.

California And Europe Require Scope 3 Climate Disclosures Despite Sec Retreat, Michael B. Gerrard

Faculty Scholarship

In March 2022, the U.S. Securities and Exchange Commission (SEC) issued proposed regulations on disclosure of climate-related information by public companies, including their material Scope 3 greenhouse gas (GHG) emissions. This created a firestorm, drawing more than 24,000 comment letters.On March 6, 2024, the SEC issued its final rule, significantly narrowing the requirements and, notably, eliminating the Scope 3 disclosures. Companies that do not want to make Scope 3 disclosures should not rejoice and environmental advocates and others who do want to see such disclosures should not despair, because new requirements from both California and Europe do mandate this information …

The Role And Relevance Of Investment Treaties In Promoting Renewable Energy Investments, Ladan Mehranvar, Lisa E. Sachs

Columbia Center on Sustainable Investment

Co-authors Ladan Mehranvar and Lisa Sachs discuss the effect of investment treaties as catalysts for critical investments in the energy transition, with a particular focus on the Spanish renewable energy cases. The book chapter, "The Role and Relevance of Investment Treaties in Promoting Renewable Energy Investments," is featured in Investment Arbitration and Climate Change, published by Kluwer Law International B.V.

Climate Change In The Courts: A 2023 Retrospective, Maria Antonia Tigre, Margaret Barry

Sabin Center for Climate Change Law

Drawing from the jurisdictions covered in the Sabin Center's United States (U.S.) and Global Climate Litigation databases, this report offers insights into key developments, emerging themes, evolving legal strategies, and the pulse of climate litigation in 2023.

Effective Shareholder Engagement To Address The Food Sector’S Sdg-Related Impacts In Mexico, Nora Mardirossian

Columbia Center on Sustainable Investment

While investor engagement on environmental and social issues have grown in recent years, they remain limited in Mexico and other emerging markets.

Investors have an opportunity to do more to help address critical SDG-related issues in these contexts through their active ownership efforts. By doing so, they can be more responsible in ensuring respect for human rights, protecting shared systems, and supporting their long-term financial interests. Importantly, they can also ensure they comply with – and support their portfolio companies in complying with – emerging legal frameworks requiring reporting and due diligence on the impacts of their global value chains. …

Investor–State Dispute Settlements: A Hidden Handbrake On Climate Action, Lea Di Salvatore, Lorenzo Cotula, Anirudh Nanda, Chloe Yuqing Wang

Columbia Center on Sustainable Investment

To achieve the Paris Agreement’s climate goals, states must move away from fossil fuels. But investor–state dispute settlement (ISDS) — a system that enables companies to take states to international arbitration — can increase the cost of this transition.

Our research shows that fossil fuel companies have historically secured at least US$82.8 billion in damages and large sums continue to be invested in fossil fuels worldwide. To address this problem, investment governance must be harmonised with global climate goals.

Turning The Tide: How To Harness The Americas Partnership For Economic Prosperity To Deliver An Isds-Free Americas, Daniel Rangel, Lori Wallach, Ladan Mehranvar, Alvaro Santos, Mario Osorio

Columbia Center on Sustainable Investment

During the Summit of the Americas in June 2022, U.S. President Joe Biden announced the launch of negotiations for an Americas Partnership for Economic Prosperity (APEP). The Biden administration hopes this initiative can rebuild relationships with countries in the region by increasing cooperation to address economic development and inequality, climate, and other challenges affecting the entire Western Hemisphere. To fulfill this vision and its associated goals, the participating countries must address the severe challenges posed by the investor-state dispute settlement (ISDS) regime and its escalating threats to the transition to a post-carbon society and the establishment of resilient public health …

Circularity In Mineral And Renewable Energy Value Chains: Overview Of Technology, Policy, And Finance Aspects, Perrine Toledano, Martin Dietrich Brauch, Jack Arnold

Columbia Center on Sustainable Investment

The mineral-intensive global energy transition and the increasing material needs of a growing population will exacerbate mining’s footprint on the planet, under current linear economy conditions. Responsible primary production of minerals and metals needs to be combined with circular economy approaches. CCSI’s report, Circularity in Mineral and Renewable Energy Value Chains: Overview of Technology, Policy, and Finance Aspects, examines existing conditions as well as reforms needed to enable global circularity in the mineral value chains of solar photovoltaic (PV) panels and wind turbines, zeroing in on four key materials: aluminum, copper products, silicon, and steel. The project was supported by …

Ghg Accounting For Low-Emissions Branded Steel And Aluminum Products, John Biberman, Perrine Toledano, Chloe Zhou

Columbia Center on Sustainable Investment

Iron, steel, and aluminum products are major sources of GHG emissions, and these emissions have traditionally been hard to abate. As of 2020, the iron and steel and the aluminum industries accounted for 7% and 3% of global GHG emissions respectively. In recent years, demand has increased substantially for “green” iron, steel, and aluminum products which can allow purchasing companies to reduce their reported upstream scope 3 GHG emissions. In response to increased demand, companies in these industries have made an expanding array of green products available to customers.

“GHG Accounting for Low-emissions Branded Steel and Aluminum Products,” draws from …

Itlos Advisory Opinion On Climate Change: Summary Of Briefs And Statements Submitted To The Tribunal, Maria Antonia Tigre, Korey Silverman-Roati

Sabin Center for Climate Change Law

This report provides a summary of the briefs and statements submitted to the International Tribunal for the Law of the Sea (ITLOS) in response to the Co-Chairs of Commission of Small Island States (COSIS)’ request for an advisory opinion on climate change-related legal questions. The central issue before the ITLOS is whether State Parties to UNCLOS have specific obligations regarding the prevention, reduction, and control of marine environmental pollution stemming from climate change, as well as the protection and preservation of the marine environment concerning climate change impacts. While States and civil society organizations have put forward a variety of …