Climate change and biodiversity

As the global economy transitions to meet the objectives of the Paris Agreement, it is inevitable that all commercial operations will need to commit to a “net zero” goal.

“Net zero” will require not only mitigation of greenhouse gas emissions through new technologies, behaviours and business practices, but the “offsetting” of residual emissions to achieve the equilibrium. Decarbonisation plans will need to be developed and implemented, and offset procurement strategies will be required. The concept of “climate positive” requiring both decarbonisation and offsetting is likely to gain in prominence as the window of opportunity reduces.

New laws, policies and investment settings will emerge to underpin both mitigation and adaptation activities required in response to climate change.

Increasingly, organisations will be held to account by their investors, stakeholders, customers or communities. It will not be sufficient to “say” you have a “net zero” target; you will need to demonstrate “how” you are going to achieve it. The risks associated with greenwashing claims and other regulatory action will continue to increase as greater sophistication emerges around the evaluation of corporate risk assessment and disclosure.

As one of the world’s largest law firms, Norton Rose Fulbright is well positioned to help its clients understand the journey to net zero, and the risks and opportunities associated with this destination. Our long-established and highly respected climate and carbon markets practice can provide advice on decarbonisation plans, strategies and projects, as well as assist with the procurement or acquisition of carbon credits required to enable offsetting. We have deep expertise of both compliance and voluntary carbon markets making us an ideal partner to help navigate the net zero journey.