Law Commons^™

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.

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.

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. …

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 …

The Legal Case For Equity In Local Climate Action Planning, Amy E. Turner

Sabin Center for Climate Change Law

Over the last half decade, local climate action plans have regularly come to incorporate considerations of racial and socioeconomic equity, recognizing the ways in which low-income communities and communities of color experience earlier and worse consequences from global warming, and these communities are also at risk of being harmed by policies meant to address climate change. Until now, however, the discourse on equity in climate action planning has largely pertained to policy; it acknowledges the disproportionate harm that certain communities experience as a result of climate change and policies to address climate change, and suggests policy tools that can address …

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 …

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 …

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 …

Expert Insights On Best Practices For Community Benefits Agreements, Matthew Eisenson, Romany M. Webb

Sabin Center for Climate Change Law

This report outlines 35 recommendations for developers and host communities when negotiating and drafting Community Benefits Agreements (CBAs) for direct air capture hubs and other clean energy projects. These recommendations come from interviews with attorneys and other experts who have collectively negotiated dozens of CBAs for climate infrastructure and other types of projects.

Permitting Co2 Pipelines, Martin Lockman

Sabin Center for Climate Change Law

Both emissions reductions and removal of greenhouse gases like carbon dioxide (CO2) from the atmosphere are essential if we hope to minimize the damage caused by climate change and globally reduce our net emissions of greenhouse gasses to zero. Some CO2 removal techniques, like “direct air capture” that uses chemical and electrochemical processes to capture atmospheric CO2 at relatively low concentrations, generate a stream of captured CO2 that is then injected into underground rock formations referred to as “geologic storage.” CO2 pipelines represent the most efficient way to transport high volumes of captured CO2 to geologic storage locations. However, while …

Community Benefit Sharing And Renewable Energy And Green Hydrogen Projects: Policy Guidance For Governments, Perrine Toledano, Chris Albin-Lackey, Maria Diez Andres, Martin Dietrich Brauch

Columbia Center on Sustainable Investment

The massive and rapid expansion of renewable energy is needed to limit global warming, so its social acceptance must be assured. While not a silver bullet, well-designed and governed benefit-sharing arrangements can lead to beneficial outcomes in ways that speak to affected communities’ needs and interests.

In partnership with the Green Hydrogen Organization and to support the efforts of the Planning for Climate Commission, this report offers high-level guidance to governments that seek to ramp up the development of renewable energy projects, including power generation and grid infrastructure. The report emphasizes that governments need a strong and coherent policy approach …

Decommissioning Liability At The End Of Offshore Oil And Gas: A Review Of International Obligations, National Laws, And Contractual Approaches In Ten Jurisdictions, Martin Lockman, Martin Dietrich Brauch, Esteban F. Fresno Rodríguez, José Luis Gallardo Torres

Sabin Center for Climate Change Law

Offshore oil and gas infrastructure faces an existential threat: the increasingly pressing need to address the climate emergency. The Intergovernmental Panel on Climate Change projects that GHG emissions from existing and planned fossil fuel infrastructure will push global warming past the Paris Agreement’s 1.5°C threshold, and more detailed projections estimate that “nearly 60 per cent of oil and fossil methane gas ... must remain unextracted to keep within a 1.5 °C carbon budget.” The growing urgency of climate action, coupled with the increasing adoption of renewable energy systems and energy-efficient technologies, may strand thousands of offshore oil and gas installations …

Beyond The North–South Divide: Litigation's Role In Resolving Climate Change Loss And Damage Claims, Maria Antonia Tigre, Margaretha Wewerinke-Singh

Sabin Center for Climate Change Law

Within the international climate regime, legal aspects surrounding loss and damage (L&D) are contentious topics, implicating liability, compensation and notions of vulnerability. The attribution of responsibility and the pursuit of redress for L&D present intricate legal and governance challenges. The ongoing debates under the United Nations Framework Convention on Climate Change are characterized by a pronounced North–South divide and have done little to provide tangible support to those most affected by L&D. This apparent neglect has prompted exploration of alternative avenues for climate harm redress. The burgeoning field of litigation for liability and compensation of climate harm holds potential significance …

Provisions On Liability For Decommissioning Upstream Offshore Oil And Gas Infrastructure In Investor–State Contracts, Martin Dietrich Brauch, Esteban F. Fresno Rodríguez, José Luis Gallardo Torres

Columbia Center on Sustainable Investment

Offshore oil and gas operations are inherently hazardous to the environment, posing environmental risks and impacts throughout all stages of the operations: exploration, development, production, and decommissioning. Offshore decommissioning consists of the process of planning, funding, and implementing measures aimed at safely closing, repurposing, or removing the infrastructure and equipment used in the exploration and production of oil and gas in the marine environment, and at mitigating their impacts. It encompasses a series of activities, including the safe plugging and closure of wells, the removal of equipment and pipelines, the repurposing of platforms, the disposal of non-usable materials and potentially …

International Recognition Of The Right To A Healthy Environment: What Is The Added Value For Latin America And The Caribbean?, Maria Antonia Tigre

Sabin Center for Climate Change Law

Although there is still no United Nations treaty on the right to a healthy environment, the recognition of the right by the UN General Assembly and the UN Human Rights Council have helped solidify its status as customary international law. The overwhelming recognition of the right at the national and regional levels, and now at the United Nations, evidences greater uniformity and certainty in understanding human rights obligations relating to the environment. But what value do the resolutions add to the regional recognition of the right in Latin America and the Caribbean (LAC)? Through judicial and legislative developments, LAC has …

Transnational Insights For Climate Litigation At The European Court Of Human Rights: A South-North Perspective In Pursuit Of Climate Justice, Melanie Murcott, Maria Antonia Tigre, Nesa Zimmermann

Sabin Center for Climate Change Law

The global climate crisis is increasingly recognised as an issue of climate injustice, including because it is causing (and worsening) inequalities and human rights violations. Moreover, responsibility for emissions and vulnerability to climate impacts are not evenly distributed. They vary among and within states. In order to tackle these issues of justice both within and among states, litigants have taken to domestic and regional courts to engage in climate litigation. A body of transnational climate jurisprudence is emerging in which courts are increasingly looking to laws beyond their relevant state or region, engaging with the moral aims of human rights …

Modelling Climate Litigation Risk For (Re)Insurers, Martin Lockman

Sabin Center for Climate Change Law

In response to the growing threat of climate change, the insurance industry has made significant investments in modelling and quantifying physical climate risks. However, the emerging risk of climate litigation has proven particularly difficult to model. In 2015 Mark Carney, then-Governor of the Bank of England and Chairman of the Financial Stability Board, warned that climate litigation poses “long-tail risks” for insurers that may be “significant, uncertain and non-linear.” Since that warning, the number of climate-related cases has more than doubled, and the scope and financial significance of climate litigation has become increasingly clear. However, insurers and regulators still struggle …

Global Climate Litigation Report: 2023 Status Review, Michael Burger, Maria Antonia Tigre

Sabin Center for Climate Change Law

This Global Climate Litigation Report: 2023 Status Review, which updates previous United Nations Environment Programme reports published in 2017 and 2020, provides an overview of the current state of climate change litigation and an update of global climate change litigation trends. It provides judges, lawyers, advocates, policymakers, researchers, environmental defenders, climate activists, human rights activists (including women’s rights activists), NGOs, businesses and the international community with an essential resource to understand the current state of global climate litigation, including descriptions of the key issues that courts have faced in the course of climate change cases.

Carajás Corridor In Brazil: Could An Sea Have Reconciled Shared-Use Infrastructure And Environmental Protection?, Perrine Toledano, Martin Dietrich Brauch

Columbia Center on Sustainable Investment

The 998km Carajás railway corridor connects the world’s largest iron ore mine, operated by private mining company Vale S.A. (Vale) in Brazil’s northern state of Pará (PA), to the company’s maritime terminal in São Luís, the capital of the northeastern state of Maranhão (MA). Carajás is one of the few integrated railway corridors financed by a mining company that, apart from transporting the iron ore that made the infrastructure investments viable, also transports general cargo and operates passenger services along the corridor. This corridor was born from the Brazilian government’s plans in the mid1950s that foresaw the iron ore reserves …

Antitrust And Sustainability: A Landscape Analysis, Columbia Center On Sustainable Investment, Sabin Center For Climate Change Law

Columbia Center on Sustainable Investment

Competition policy and antitrust law are experiencing a global renaissance. New market realities such as digital market gatekeepers, the financialization of firms, highly concentrated markets, a rising labor movement, industrial policy, and trade wars, among others, are radically reshaping how this policy area is understood and applied.

Sustainability concerns have also been a driving force for reconstituting antitrust to meet twenty-first century challenges. It is now widely accepted that competition policy – both its aims and its enforcement – has wider societal impacts beyond competition, including effects on democracy, economic inequality, growth and innovation, racial and gender imbalances, privacy, geopolitical …

Harmonizing Product-Level Ghg Accounting For Steel And Aluminum, John Biberman, Gyunbae Joe, Perrine Toledano

Columbia Center on Sustainable Investment

Greenhouse gas (GHG) accounting methods for steel and aluminum products have begun converging towards common standards within their respective industries in recent years. However, accounting methods for steel products and aluminum products are still not fully comparable with each other. If emissions are measured and allocated differently for these products, then these accounting differences have the potential to influence materials choices for manufacturers concerned about reducing their reported GHG footprint. Companies could therefore be motivated to make a choice between aluminum and steel according to emissions benefits that materialize from differences in accounting frameworks, but which do not actually exist …

Ccsi Submission To The Special Rapporteur On Human Rights And The Environment: Investor-State Dispute Settlement (Isds) Mechanisms And The Right To A Clean, Healthy, And Sustainable Environment, Columbia Center On Sustainable Investment

Columbia Center on Sustainable Investment

CCSI Submission to the Special Rapporteur on Human Rights and the Environment on investor-state dispute settlement (ISDS) mechanisms and the right to a clean, healthy, and sustainable environment, submitted in June 2023.

Finance For Zero: Redefining Financial-Sector Action To Achieve Global Climate Goals, Lisa E. Sachs, Nora Mardirossian, Perrine Toledano

Columbia Center on Sustainable Investment

As of 2023, the financial system is woefully misaligned with the world’s climate goals. Six times the current annual level of investment in non-fossil fuel investments is needed between 2023 and 2030 to stay on a 1.5ºC warming pathway. The ratio of clean-energy lending and equity underwriting by banks relative to fossil fuels needs to reach 4 to 1 by 2030, whereas for 1,142 assessed banks, the ratio was between 0.8 and 1 at the end of 2021.

As providers, underwriters, and fiduciaries of trillions of dollars of capital flows annually, financial institutions (FIs) play a critical role in decarbonizing …

Opposition To Renewable Energy Facilities In The United States: May 2023 Edition, Matthew Eisenson

Sabin Center for Climate Change Law

Achieving lower carbon emissions in the United States will require developing a very large number of wind, solar, and other renewable energy facilities, as well as associated storage, distribution, and transmission, at an unprecedented scale and pace. Although host community members are often enthusiastic about the economic and environmental benefits of renewable energy facilities, local opposition often arises. This report updates and considerably expands two previous Sabin Center reports, published in September 2021 and March 2022, and documents local and state restrictions against, and opposition to, siting renewable energy projects for the period from 1995 to May 2023. Importantly, the …

Transferred Emissions Are Still Emissions: Why Fossil Fuel Asset Sales Need Enhanced Transparency And Carbon Accounting, Jack Arnold, Martin Lockman, Perrine Toledano, Martin Dietrich Brauch, Shraman Sen, Michael Burger

Columbia Center on Sustainable Investment

In a widely reported trend, the “Oil Supermajors” — BP, Chevron, ConocoPhillips, Eni, ExxonMobil, Shell, and TotalEnergies — are selling off many upstream fossil fuel assets.

Selling these assets to entities that will continue producing and selling the fossil fuel resources does not necessarily reduce greenhouse gas emissions, but the supermajors have used these asset sales to support claims that they are making progress toward reaching net-zero greenhouse gas emissions.

Emissions reporting frameworks allow companies to conflate the apparent emissions reductions from asset sales with direct reductions from efficiency improvements and asset retirements. In doing so, they hinder the ability …

Enabling A Just Transition: Protecting Human Rights In Renewable Energy Projects: A Briefing For Policymakers, Hansika Agrawal, Laura El-Katiri, Kimathi Muiruri, Sam Szoke-Burke

Columbia Center on Sustainable Investment

This briefing provides guidance to policy- and decision-makers (hereafter, “policymakers”) on the benefits of and strategies for taking a human rights-based approach to renewable energy policy. It highlights the various impacts of utility-scale renewable energy projects on peoples and communities, associated risks for policymakers, and explains how national, regional, and global policies can help mitigate those impacts and risks. The briefing addresses different agents of policy- and decision-making: Host states, where renewable energy projects are proposed or located; Home states where corporations pursuing renewable energy investments, especially investments abroad, are based; Development Finance Institutions (DFIs) financing renewable energy investments, especially …

Commentary: Nature-Based Insetting: A Harmful Distraction From Corporate Decarbonization, Nora Mardirossian, Jack Arnold

Columbia Center on Sustainable Investment

Carbon offsetting is used worldwide on a massive scale, purportedly to mitigate climate change by capturing atmospheric carbon or by increasing or protecting carbon storage. Yet, in recent years, offsetting has been increasingly criticized as a strategy that can harm Indigenous peoples and local communities, exacerbate land inequality, and, paradoxically, worsen the global climate crisis. “Carbon insetting” has emerged as an alternative approach to offsetting that localizes nature-based solutions projects and other greenhouse gas removal activities within company value chains and has been adopted by major global brands such as Nestlé, PepsiCo, and Burberry. This commentary takes a deep dive …

Developing Model Federal Legislation To Advance 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 model federal legislation aims to advance safe and responsible 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 CDR techniques that could help the U.S. reach its climate goals. However, existing legal frameworks were not designed to regulate ocean CDR and, in some cases, unnecessarily or inappropriately restrict needed research. The purpose of this proposed model legislation is to establish clear and efficient permitting regime for in-ocean CDR research. At the same time, the model legislation builds in consultation, monitoring, and other safeguards …

Ghg Accounting Methods In The Aluminum Industry, John Biberman, Perrine Toledano, Rohini Ram Mohan

Columbia Center on Sustainable Investment

Primary aluminum production is one of the world’s most GHG-intensive industries, and also one where GHG accounting methods have become the most fully developed. GHG reporting for the primary aluminum sector has largely consolidated under the International Aluminium Institute’s (IAI) guidance, although Environment Canada (EC) guidance remains active and Chinese aluminum smelters will soon additionally be required to report their emissions under the China National Development and Reform Commission’s (China NDRC) guidelines, meant to support the development of the Chinese emissions trading system. The IAI method largely follows best GHG accounting practices, but aspects of it can be improved, and …