This is a key moment for addressing the risks and opportunities that climate change presents to businesses. We look at what COP26 will likely mean for your business.
This Sunday marks the opening of COP26 in Glasgow, with two weeks filled with summits, negotiations and hopefully, serious commitments and ambitious actions to tackle climate change. This is a key moment for addressing the risks and opportunities that climate change presents to businesses and the risks and opportunities that businesses and industries might themselves present.
COP26 will likely result in more – or more detailed and prescriptive - regulation of sustainability and climate change mitigation and adaptation, posing both risks and opportunities for business. As the host, it is also likely that the UK Government will announce further initiatives to follow the strategy papers previously published, including the 10-Point Plan for Green industrial Revolution, Industrial Decarbonisation Strategy, Transport Decarbonisation Strategy, Hydrogen Strategy, and recently published Net Zero Strategy.
The impacts of new regulation are likely to increase if the UK is to meet its 2050 net zero target. Particular changes are on the way in relation to the way we heat our homes and commercial buildings, and how the construction, food production and transport industries and systems operate. Innovation will be key to keeping pace with these regulatory changes, so that businesses can be competitive in shifting towards more sustainable products and seeking to attract new investment and customers.
Analysis published in August 2021 reported that the UK’s Low Carbon and Environmental Goods and Services (LCEGS) sector was worth £205.7bn to the UK’s economy in 2020/21, as indicated by the value of sales in the sector. These sales were generated by over 75,700 businesses that employed over 1.2 million people in the sector in 2020/21. For businesses at the vanguard of the development and deployment of low carbon technologies and methodologies, the increased regulation that will inevitably result from COP26 presents an opportunity to capitalise on early-mover advantage.
For a deeper dive of what COP26 means for your business and globally you can check out our latest COP26 webinar. We will be providing daily updates and we will be covering the developments immediately after the conference in our next webinar on 23 November 2021.
In this session, we examined the legal framework around grant funded collaborations and discussed the key risks to be aware of, including IP ownership and compliance with grant terms.
National law firm Browne Jacobson has advised long standing retail client, Wilko on the sale and leaseback of its Nottinghamshire distribution centre in Worksop to logistics specialist DHL for £48m.
The war on plastic is being taken to a new level, and businesses that don’t consider sourcing recycled packaging materials could face costly implications.
Earlier in the year a number of fashion retailers, boldly announced the introduction of a charging fee for returning any product purchased via their online store. Yet, despite this commercial, and perhaps somewhat controversial decision, at least one major fashion giant that adopted this approach has recorded ‘historic highs’ in its September profits. Browne Jacobson partner, Cat Driscoll who heads up the firm’s commercial team in Manchester and is also head of its Fashion & Beauty sector discusses whether this change has put the average consumer off and whether the days of free returns are long gone.
The fashion industry has a mountain to climb when it comes to sustainability. More than 8% of greenhouse gas emissions come from the apparel and footwear industries, and approaching three-fifths of all clothing ends up in incinerators or landfill within a year of being made.
In a judgment handed down yesterday the Supreme Court has affirmed that a so called “creditor duty” exists for directors such that in some circumstances company directors are required to act in accordance with, or to consider the interests of creditors. Those circumstances potentially arise when a company is insolvent or where there is a “probability” of an insolvency. We explore below the “trigger” for such a test to apply and its implications.
Created at the end of the Brexit transition period, Retained EU Law is a category of domestic law that consists of EU-derived legislation retained in our domestic legal framework by the European Union (Withdrawal) Act 2018. This was never intended to be a permanent arrangement as parliament promised to deal with retained EU law through the Retained EU Law (Revocation and Reform) Bill (the “Bill”).
The Supreme Court has unanimously dismissed the BTI v Sequana appeal and reviewed the existence, content and engagement of the so-called ‘creditor duty’; being the point at which the interest of creditors is said to intrude upon the decision-making of directors of companies in financial distress.
It was reported in May 2022 that the BMW-owned manufacturer had been forced to put a temporary stop on the production of all manual transmission vehicles due to the global semi-conductor shortage and the war in Ukraine. Mini stated that the move was made in order to "ensure production stability".
The Department for Levelling Up, Housing and Communities (DLUHC) has published a consultation on proposals to require Local Government Pension Scheme (LGPS) administering authorities (AAs) in England and Wales to assess, manage and report on climate change risks.
Browne Jacobson’s specialist cleantech lawyers have advised AIM listed Clean Power Hydrogen Group Limited (CPH2) on its licence agreement with Bentec GmbH, a member of the Kenera business of the KCA Deutag Group. Kenera will manufacture CPH2’s unique membrane-free electrolysers from its facility in Bad Bentheim, Germany.
Browne Jacobson has bolstered its commercial practice in the UK with the appointment of commercial contracts and international trade specialist, Emma Roake, into its City-based London team.
Browne Jacobson’s national private equity (PE) lawyers have advised leading mid-market PE investment firm, Palatine Private Equity (Palatine) on its exit from CTS Group, the fast-growing specialist in testing, inspection and geoengineering consulting services to the construction and infrastructure sectors.
Browne Jacobson’s corporate finance lawyers have advised leading mid-market private equity firm, LDC and management on the sale of specialist managed IT services provider, Littlefish to Bowmark Capital.
The Digital Markets Act (the “DMA”) joins the dots between competition law and data protection law and actively targets data-driven platforms. It is also a comprehensive regulation to take note of, with familiar GDPR-style fines tied to turnover.
Browne Jacobson’s private equity (PE) dealmakers have advised Palatine Private Equity backed CTS Group (Construction Testing Solutions Limited) on its acquisition of In Situ Site Investigation, a market leader in Cone Penetration Testing and Pressuremeter techniques and ground investigation services.
Browne Jacobson’s corporate finance lawyers have advised leading private equity investor, Rcapital Partners LLP (Rcapital) on its majority stake acquisition of managing general agents (MGAs), UK General Insurance Ltd (UKG) and Precision Partnership Limited (PPL) alongside Montague Investment Group LLP who are taking a minority stake.
In an unreported case (Re Active Wear Limited (in Administration)), the High Court has ruled that an out-of-court administration appointment, instigated by a sole director of a company with unmodified model articles, was valid notwithstanding the earlier decision of Deputy Judge Farnhill (also in the High Court) in the case Hashmi v Lorimer-Wing (also known as Re Fore Fitness Investments Holdings Ltd)  EWHC 191 (Ch) (02 February 2022).
Browne Jacobson’s private equity (PE) dealmakers have advised Palatine Private Equity backed CTS Group (Construction Testing Solutions Limited) on its latest acquisition of Concept Engineering Consultants Limited, a leader in geotechnical, structural and geo-environmental services for an undisclosed amount.
Rolls-Royce has shortlisted six locations for its first factory for small nuclear power stations. We look at the impact on regions & local businesses
There are clearly challenging macro-economic factors at play but at Browne Jacobson we continue to see good levels of transactional activity with certain sectors being particularly buoyant: healthcare, financial services, energy & infrastructure and tech.