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Climate Change

Development, investments and trade related to "green" (CO2 efficient) energy activities are becoming increasingly important nationally as well as internationally as a result of intensified focus on and increased public regulation of this area.

Several Danish and international undertakings carry out development, investment or trade activities directly related to:

renewable energy
energy efficient constructions
CO2 allowances and credits
related services

Together they constitute the core of and the fertile soil for green development, investment and trade.

The energy sector appears to be affected the most by the green development. Partly due to the European CO2 allowances trading system and partly due to the improved market conditions for renewable energy sources, including wind energy.

Attorneys within this practice area

		Hansen, Poul Flemming
		Permin, Jørgen
		Bier, Jacob
		Christensen, Jacob
		Hansen, Thomas Maaberg
		Jensen, Søren Stenderup
		Kristjánsson, Tom Kári
		Kirk, Andreas Bernhard
		Skodborggaard, Ellen
		Hannibal, Marlene
		Dambæk, Mads

Effect on the transport and construction sectors

Green development is, however, not limited to the energy sector. Several other areas such as the transport sector and the construction sector are affected, either due to public law regulation or due to industry-wide agreements seeking to reduce CO2 emission.

From 2012 air transport will be comprised by the CO2 allowances trading system and at present negotiations are taking place in the shipping trade in respect of the introduction of duties on shipping fuel as an alternative to including the shipping trade in the allowances trading system.

This development creates new challenges in relation to the financing of energy consumption, but also new challenges for the undertakings which are able to adapt to the development and readjust their energy consumption.

Climate change in numbers

In spite of the global economic crisis the area of green energy activities attracted total new capital of USD 155bn (corresponding to approximately DKK 884bn) in 2008.

The total turnover in the area - including amounts exchanged in connection with transfers of undertakings where money changed hands without new capital being invested - amounted to a total of USD 223bn (corresponding to approximately DKK 1.271bn).

Our services

We are able to provide legal advice of a high, international standard to Danish and international clients in respect of, for example, the following:

Environmental law and public law:

the acquisition and transfer of permits to emit CO2 (emission permits)
environmental approval of CO2-emitting undertakings
Carbon Capture Storage (CCS), including in relation to emission, transportation and storage of CO2
drafting applications for and procurement of licences to carry out wind projects and other energy projects, including preparation of Environmental Impact Assessments
conduct of complaints and legal action before various boards and courts

Corporate/Commercial:

conclusion of joint ventures in connection with the development of green technology
advice on corporate social responsibility policies in relation to energy, climate and environmental issues

Corporate Finance:

venture capital and prvate equity investments in green undertakings
transfer of green undertakings
financing of wind energy projects and other renewable energy projects
purchase and sale of CO2 allowances, including advice on and assistance in connection with the negotiation of framework agreements to be used in connection with trade with CO2 allowances
acquisition of CO2 credits in connection with Joint Implementation (JI) and Clean Development Mechanism (CDM) projects

Taxes:

tax treatment of CO2 allowances
energy taxes