Jones Day - Services - Climate Change

Climate change is emerging as one of the major environmental issues of our time. Jones Day was one of the very first law firms to set up in 2001 a multidisciplinary team dedicated to climate change issues to provide clients with timely advice in this growing area of law. At Jones Day, we believe that a multidisciplinary approach is key to effectively anticipate and address complex legal issues raised by this emerging area. In addition, our global network enables us to cover the countries where climate change transactions are more likely to be implemented, such as China, India, and Brazil. Our team is composed of over a dozen environmental, litigation, regulatory, tax, project finance, and corporate specialists in offices located around the world.

Assistance in Emission Reduction Projects

Our team has developed a strong experience in the European Union Emissions Trading Scheme, the UK Emissions Trading Scheme, U.S. state and regional control schemes, and structuring Joint Implementation and Clean Development Projects under the Kyoto Protocol. Our multidisciplinary and worldwide team provides assistance in:

Due diligence designed to analyze a project's economic and technical viability.
All issues relating to project financing.
Project structuring, such as providing advice from a tax perspective in order to optimize taxation of greenhousegas reduction credits.
Drafting industrial contracts required for project implementation.
Management of relationships with governmental authorities to obtain required approvals.
Drafting and negotiating emission-reduction credit purchase agreements

Litigation

In the absence of a federal scheme for emission controls of greenhouse gases in the U.S., some states and private parties have filed lawsuits alleging that such emissions are a public nuisance that cause a variety of compensable damages. To date, two such lawsuits have been filed, but many more are expected. Jones Day has a lead role in both of the pending cases, State of Connecticut, et al. v. American Electric Power Company, Inc., et al., No. 05-5104-cv (2d Cir.), and Ned Comer, et al. v. Murphy Oil, USA, et al., No. 1:05-cv-00436 (S.D. Miss.).

Experience

Hereafter is a selection of recent significant representations in which the Jones Day team has been involved:

In March 2006, we advised Rhodia Energy Services, a subsidiary of the Rhodia group, on the most important private transaction for the implementation of Clean Development Mechanisms (CDMs) ever performed since the beginning of implementation of the Kyoto Protocol. The complexity of the transaction was notably related to the legal and tax structuring of the project, the creation of a joint venture with Société Générale Energie for the trading of CERs, and the sale of one of the largest volumes of CERs ever sold to investors. With this major transaction in the private sector, Jones Day has acquired unique knowledge of the issues related to climate change.
Jones Day advised Rhodia Organique Fine Limited, one of the majority participants in the UK-Emissions Trading System (UK-ETS), which is the first major greenhouse gas emission trading system in the world. We assisted Rhodia during the initial auction and later on the impact of the detailed legal rules in light of various strategic options then under consideration by management and provided strategic and compliance advice regarding the sale of Montreal protocol "production" and "sales" rights, including overlap with UK ETS in respect of the HFC/HCFC production in the UK;
following the flotation on London's AIM of Solar integrated Technologies Inc, we have advised on the generation of, and trade in, emission offset credits in various jurisdictions and the availability of other sources of investment and funding for specific projects;
our lawyers advised on one of the first forward contracts for the sale of credits under the UK-ETS; and
have experience in the development of renewable energy power generation projects that reduce fossil fuel use and greenhouse gas emissions.

We also advised on the latest position on SOX and NOX trading schemes, and are continually involved in the development and implementation of pollutant trading schemes in the U.S. In this capacity Jones Day lawyers consulted with multiple stakeholders including the UK government on ROCs, RECs and carbon emissions trading, and the opportunities and risks these markets present.

Conferences and Publications

Jones Day lawyers regularly author publications on climate change and related issues. We also have spoken at several national and international conferences on climate change and emissions trading. Sophie Hagège, Françoise Labrousse, Vincent Agulhon, and Graham Holden spoke in March 2006 at the first conference organized by Medef (the French business confederation) in partnership with Jones Day dedicated to The Kyoto Protocol.

In addition, having taken CDM and renewable technology companies to market, we have good relations with the institutional investors that we know are interested in investing in CDM projects, and the specialist funds.

We also advise clients on environmental attributes and "green tag" trading under various U.S. state renewable portfolio standards, as well the development of an international infrastructure for the regulation of greenhouse gases, including the United Nations Framework Convention on Climate Control, the Kyoto Protocol, and the UK and EU emissions trading schemes.

Contact(s)

Sophie Hagège
Paris
Tel: 33.1.56.59.39.39
E-mail

Françoise S. Labrousse
Paris
Tel: 33.1.56.59.39.39
E-mail

Charles T. Wehland
Chicago
Tel: 1.312.782.3939
E-mail

G. Graham Holden
Atlanta
Tel: 1.404.521.3939
E-mail

Kaoru Umino
Tokyo
Tel: 81.3.3433.3939
E-mail

	Print Page Email Page Select a Language Climate Change - Overview
Lawyers Staff Overview Experience Professionals News Publications Contact(s) Sophie Hagège Paris Tel: 33.1.56.59.39.39 E-mail Françoise S. Labrousse Paris Tel: 33.1.56.59.39.39 E-mail Charles T. Wehland Chicago Tel: 1.312.782.3939 E-mail G. Graham Holden Atlanta Tel: 1.404.521.3939 E-mail Kaoru Umino Tokyo Tel: 81.3.3433.3939 E-mail	Climate change is emerging as one of the major environmental issues of our time. Jones Day was one of the very first law firms to set up in 2001 a multidisciplinary team dedicated to climate change issues to provide clients with timely advice in this growing area of law. At Jones Day, we believe that a multidisciplinary approach is key to effectively anticipate and address complex legal issues raised by this emerging area. In addition, our global network enables us to cover the countries where climate change transactions are more likely to be implemented, such as China, India, and Brazil. Our team is composed of over a dozen environmental, litigation, regulatory, tax, project finance, and corporate specialists in offices located around the world. Assistance in Emission Reduction Projects Our team has developed a strong experience in the European Union Emissions Trading Scheme, the UK Emissions Trading Scheme, U.S. state and regional control schemes, and structuring Joint Implementation and Clean Development Projects under the Kyoto Protocol. Our multidisciplinary and worldwide team provides assistance in: Due diligence designed to analyze a project's economic and technical viability. All issues relating to project financing. Project structuring, such as providing advice from a tax perspective in order to optimize taxation of greenhousegas reduction credits. Drafting industrial contracts required for project implementation. Management of relationships with governmental authorities to obtain required approvals. Drafting and negotiating emission-reduction credit purchase agreements Litigation In the absence of a federal scheme for emission controls of greenhouse gases in the U.S., some states and private parties have filed lawsuits alleging that such emissions are a public nuisance that cause a variety of compensable damages. To date, two such lawsuits have been filed, but many more are expected. Jones Day has a lead role in both of the pending cases, State of Connecticut, et al. v. American Electric Power Company, Inc., et al., No. 05-5104-cv (2d Cir.), and Ned Comer, et al. v. Murphy Oil, USA, et al., No. 1:05-cv-00436 (S.D. Miss.). Experience Hereafter is a selection of recent significant representations in which the Jones Day team has been involved: In March 2006, we advised Rhodia Energy Services, a subsidiary of the Rhodia group, on the most important private transaction for the implementation of Clean Development Mechanisms (CDMs) ever performed since the beginning of implementation of the Kyoto Protocol. The complexity of the transaction was notably related to the legal and tax structuring of the project, the creation of a joint venture with Société Générale Energie for the trading of CERs, and the sale of one of the largest volumes of CERs ever sold to investors. With this major transaction in the private sector, Jones Day has acquired unique knowledge of the issues related to climate change. Jones Day advised Rhodia Organique Fine Limited, one of the majority participants in the UK-Emissions Trading System (UK-ETS), which is the first major greenhouse gas emission trading system in the world. We assisted Rhodia during the initial auction and later on the impact of the detailed legal rules in light of various strategic options then under consideration by management and provided strategic and compliance advice regarding the sale of Montreal protocol "production" and "sales" rights, including overlap with UK ETS in respect of the HFC/HCFC production in the UK; following the flotation on London's AIM of Solar integrated Technologies Inc, we have advised on the generation of, and trade in, emission offset credits in various jurisdictions and the availability of other sources of investment and funding for specific projects; our lawyers advised on one of the first forward contracts for the sale of credits under the UK-ETS; and have experience in the development of renewable energy power generation projects that reduce fossil fuel use and greenhouse gas emissions. We also advised on the latest position on SOX and NOX trading schemes, and are continually involved in the development and implementation of pollutant trading schemes in the U.S. In this capacity Jones Day lawyers consulted with multiple stakeholders including the UK government on ROCs, RECs and carbon emissions trading, and the opportunities and risks these markets present. Conferences and Publications Jones Day lawyers regularly author publications on climate change and related issues. We also have spoken at several national and international conferences on climate change and emissions trading. Sophie Hagège, Françoise Labrousse, Vincent Agulhon, and Graham Holden spoke in March 2006 at the first conference organized by Medef (the French business confederation) in partnership with Jones Day dedicated to The Kyoto Protocol. In addition, having taken CDM and renewable technology companies to market, we have good relations with the institutional investors that we know are interested in investing in CDM projects, and the specialist funds. We also advise clients on environmental attributes and "green tag" trading under various U.S. state renewable portfolio standards, as well the development of an international infrastructure for the regulation of greenhouse gases, including the United Nations Framework Convention on Climate Control, the Kyoto Protocol, and the UK and EU emissions trading schemes. Contact(s) Sophie Hagège Paris Tel: 33.1.56.59.39.39 E-mail Françoise S. Labrousse Paris Tel: 33.1.56.59.39.39 E-mail Charles T. Wehland Chicago Tel: 1.312.782.3939 E-mail G. Graham Holden Atlanta Tel: 1.404.521.3939 E-mail Kaoru Umino Tokyo Tel: 81.3.3433.3939 E-mail