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This article provides an overview of the challenges and solutions related to climate change and sustainability in California. It highlights the impacts of climate change that the state is already experiencing, such as increasing temperatures, sea level rise, and more frequent heatwaves. The article emphasizes the need for global emissions reduction and discusses the legislation and policies enacted by the state government to address climate change, with a focus on environmental justice. It also emphasizes the importance of understanding regional impacts and finding adaptable solutions. The document further discusses the importance of climate adaptation, particularly for marginalized communities, and highlights the role of Indigenous knowledge and stewardship in building climate resilience. It addresses the impacts of climate change on ecosystems, wildfires, agriculture, urban systems, and human health. The authors argue for inclusive and equitable policies and collaborations to tackle climate change and promote sustainability in California. The document includes references to various scientific studies and reports related to climate change and its impacts on the state. [Extracted from the article]

The European Commission plans to achieve the decarbonization of dozens of European Union (EU) islands by 2030. This would reduce greenhouse gas emissions, lower the dependency of islands on imported fuels, and potentially reduce local energy prices. At the same time, it may accelerate the mainland's own energy transition through the import of surplus energy from renewable sources, the provision of aggregated flexibility services, and the testing of both technologies and policies on islands for replication and adaptation on the continent. Although islands are not even a legal category per se in EU energy law, the existing legal framework already allows to harness various concepts to foster the energy transition of EU islands. This article reviews available legal qualifications and regimes such as small systems' exemptions, energy communities, positive energy districts, and local flexibility markets in the context of the decarbonization of EU islands. Potentially, they could open many different ways to tailor local energy transitions, channelling local actions to accelerate the whole process. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of the article is to present the current situation in the energy sector in Poland, with particular emphasis on the role of renewable energy sources (RES), and to assess the impact of these investments on the future of the energy sector in Poland. Design/methodology/approach: Secondary research was conducted to characterize the energy market in Poland. Documents from four leading electric power producers in Poland were examined. Findings: Despite the fact that Polish energy sector still heavily relies on coal, the future of the Polish energy sector appears to be closely linked to the development of RES. Leading companies operating in the Polish energy sector have adopted strategies involving significant investments in RES. Research limitations/implications: This study focuses on the power sector and does not take into account investments in RES made by households. Therefore, future research could focus on the energy transition of households in particular, identifying the determinants and constraints of this transition. Practical implications: This paper shows how legal regulations, including CO2 emission restrictions and international commitments, affect the current situation of the Polish energy market and shape its development. These regulations also point out the need to accelerate the country's energy transition in order to increase energy security through diversification of energy sources. Social implications: Large-scale investments in renewable energy sources will contribute to reduction of greenhouse gas emissions, thus, they will have positive effect on the environment. Originality/value: The issue of energy transition is addressed from both a practical and social point of view. The analysis conducted uses the most recent data, thereby providing up-to-date knowledge. [ABSTRACT FROM AUTHOR]

Regenerative agriculture--a farming practice that sequesters atmospheric carbon dioxide (CO2) into the soil--has potential to turn into big business in this climate crisis. If farmers can accurately measure the amount of trapped carbon in their soil, they can sell that stored carbon as a "carbon credit," a tradeable certificate representing the right to emit one metric ton of carbon dioxide (CO2) or the equivalent amount of another greenhouse gas. As more than seventy countries race to cut greenhouse gas emissions by 2050 in order to meet Paris Agreement1 goals, carbon credits are becoming the "new currency" to meet or exceed national and global targets. Carbon credits can also reduce exposure to legal liability from shareholder misrepresentation, fraud and greenwashing claims that may arise when firms advertise corporate environmental, social, and governance ("ESG") policies. While regenerative agriculture is gaining momentum, investors are cautious about the carbon sequestering potential it holds. Of the top one hundred food companies in the world, fifty-eight are working on regenerative agriculture projects to sequester carbon--either as small pilots, by meeting specific acreage targets (like General Mills, Pepsi, and Cargill), or by tying them to larger business strategies (like Nestlé).2 All the while, critics say that carbon sequestration projects are 'unquantifiable,' 'unreliable,' and evidence of 'greenwashing. If regenerative agriculture is to play a larger role in helping the US reach a goal of "net-zero" by 2050, regulations are needed to reassure buyers that carbon credits from carbon sequestration are measurable and verifiable, and to reassure sellers that their interests will be protected. Regulations are necessary to: (1) raise market confidence by reducing information asymmetry in contracting, (2) provide a uniform definition and standards for regenerative agricultural practices, (3) improve measurements of regenerative agriculture outcomes and soil carbon, and (4) require public companies to disclose the role that carbon offsets play in their climate-related business strategy. Filling gaps in food law and environmental governance literatures, this Article is the first to analyze the carbon market using case studies from food market participants. The Article proposes regulatory changes to help mitigate the risks associated with the trading of carbon credits. This Article is timely, arriving when America's recommitment to the Paris Climate Agreement is setting the stage for a new emissions accounting era. [ABSTRACT FROM AUTHOR]

The U.S. federal government is unbalanced in its capacity to recognize, manage, and engage cultural heritage as part of its response to climate change. Legislation from the 1906 Antiquities Act to Executive Order (EO) 13990 signed in 2021 has set an overarching approach in which heritage is understood to be primarily tangible places and things that should be conserved, foremost through monument and park boundaries and significance designations. Such conservation, however, does not protect heritage from impacts of climate change and how to manage these components of heritage is nearly invisible in recent climate-focused publications of the two agencies assigned by legislation to serve as leads for cultural heritage in the U.S. government. Yet further, the long-standing tangible approach to heritage does not incorporate emerging understandings of its intangible components and the diverse connections of all forms of heritage to place, meaning, identity, and global change goals of sustainability and equity. In contrast, analysis of 27 federal agency climate adaptation plans prepared in response to 2021 EO 14008 shows that multiple agencies not assigned lead roles for heritage recognize a range of responsibilities that include heritage as part of climate adaptation, mitigation, equity, and coordination with Indigenous communities. This paper explores U.S. heritage legislative history, the definition it helped create for heritage, more recent understandings of heritage, and relationships of these to climate change and how these are represented in climate work and plans across U.S. federal agencies. On these bases, recommendations are provided for research and policy steps. [ABSTRACT FROM AUTHOR]

How can tort law contribute to combatting climate change? The Principles of European Tort Law (PETL), in particular the framework of art 4:102 PETL, have already served as inspiration for a duty of care for both governments and companies, aimed at reducing greenhouse gas emissions. This is in line with the development of law in Europe, where liability for an insufficient contribution to combatting global warming is becoming increasingly concrete. The PETL, therefore, do not necessarily need to be amended on this point. However, the development could be strengthened in two ways. First, it is proposed to amend art 4:102(3) PETL, providing that the duty of care may be determined in part by reference to internationally recognised fundamental rights and international documents that constitute a breach of duty for companies. Secondly, making room in the PETL for injunctive relief would do justice to the need to take preventive measures, as, in climate cases, preventing global warming is more urgent than ex post compensation. [ABSTRACT FROM AUTHOR]

Despite global concerted efforts to enhance environmental sustainability, environmental quality has continued degrading following upsurges in carbon dioxide (CO2) emissions. The rising pollution emissions in recent decades have largely been blamed on the growing exploitation of natural resources and institutional dynamics. Consequently, this study empirically examines the effect of resource rents on environmental pollution. The system Generalised Method of Moments approach is adopted to analyse data for a panel of 39 developing African countries over the 1996–2020 period. The key results reveal that resource rents significantly contribute to pollution emissions in the context of African economies. This positive relationship between resource rents and environmental pollution is globally validated by the various sensitivity analysis and robustness checks. However, this relationship is divergent for alternative measures of natural resources and across sub‐regional economic blocs. Furthermore, the results reveal the critical role of good governance in modulating the environmental damaging role of natural resource dependence. Besides the key findings, the study equally highlights the importance of ICTs and the need to increase investments in green technologies and promote the consumption of clean energies. Indeed, the key findings suggest that for resource rents to effectively contribute to environmental sustainability by reducing CO2 emissions there is need for policymakers to reinforce the legislation through the enhancement of institutional quality. Particularly, African governments should develop and reinforce strategies aimed at curbing corruption which constitutes a major obstacle to environmental sustainability. [ABSTRACT FROM AUTHOR]

This document provides an overview of the obligations and legal framework surrounding climate-proofing buildings in the Netherlands. The country has committed to reducing greenhouse gas emissions and becoming climate-neutral by 2050, and the built environment plays a significant role in achieving this goal. The state imposes obligations on property owners to reduce energy consumption and increase the use of renewable sources, but these obligations must be legal and proportionate to the owner's interests. The document discusses the enforcement of these obligations, the role of subsidies and incentives, and the financial impact on owners. It also highlights the importance of considering the specific circumstances of each building and owner, and the potential need for compensation in certain cases. The document concludes that while Dutch law generally allows for climate-proofing obligations without compensation, the obligations for residential buildings are expected to increase in the future. Proportionality is emphasized throughout, and owners have the ability to challenge or claim compensation for obligations that result in inevitable losses or do not allow for sufficient time for implementation. [Extracted from the article]

While most literature on federal climate change policies has focused on failures to adopt broad policies, this article describes and explains successes in two important sectors. Regulations to improve the fuel economy of motor vehicles and efficiency standards for appliances and equipment have produced substantial reductions in greenhouse gas emissions, although they largely have other goals and hence can be considered implicit climate policies. We synthesize the existing literature with our analyses of case studies to offer three explanations for the adoption of effective policies in these two sectors. First, the policies delivered politically popular co-benefits, such as reducing consumers' energy bills, enhancing energy security, and promoting public health. Second, they gained business acceptance because they were narrow in their scope, avoided long-term economic costs, and helped industry cope with state-level regulations; industry often strategically tried to influence these policies rather than resist them. Third, the legislation that initiated and expanded these policies received bipartisan support, which was aided by co-benefits and business acceptance; more recently, these laws have been strengthened through the actions of Democratic administrations. We conclude by comparing these policy areas to the passage of the Inflation Reduction Act of 2022. [ABSTRACT FROM AUTHOR]

The article explores how the United States can utilize its buying power and trade laws to promote clean energy and combat climate change. It discusses the Executive Branch's ability to use national security import laws and antidumping duty laws to support domestic clean industries and address competition from countries that do not meet climate commitments. The text also provides background information on global heating, greenhouse gas emissions, and the legal framework for regulating carbon pollution. It highlights the potential use of Section 232 and antidumping duties as tools to encourage climate-friendly manufacturing and level the playing field for domestic industries. [Extracted from the article]

The article discusses the pollution burdens faced by residents of Wilmington, California, particularly due to the presence of an oil refinery in the area. The refinery has been in operation for over 100 years and is a major source of toxic chemicals in the community. Despite legal actions and minor penalties, the refinery continues to operate and contribute to negative health outcomes for residents. The article explores the limited legal protections available to Wilmington residents and compares the environmental impact assessment laws in Guatemala and South Africa to those in the United States. The aim of the article is to advocate for statutory reforms and stronger environmental rights for Wilmington residents. [Extracted from the article]

Copyright of Journal for Business, Economics & Ethics / Zeitschrift für Wirtschafts und Unternehmensethik is the property of Nomos Verlagsgesellschaft mbH & Co. KG and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

As climate change has accelerated, activists have become frustrated with the waffling of governments and grown progressively vocal in their demands that the largest companies take action to slow global warming. These calls have resulted in a cascade of voluntary climate and ESG disclosures, and recently, the SEC's promulgation of draft rules mandating climate disclosures for public companies. The goals of such disclosures include prodding firms to be more climate-friendly and enabling climate-conscious investors to pull their money out of firms that do not share their values. But the positive effects of such disclosures are likely to be muted if the disclosures are not accurate. The controversy surrounding climate disclosures has largely overlooked an important question: Can shareholder litigation effectively police the accuracy of firms' climate-related disclosures? To answer this question, I examine the climate-related lawsuits that shareholders have brought against their firms, creating a typology illustrating where such lawsuits are likely to arise. I find that much climate-related shareholder litigation has so far been follow-on litigation, piggy-backing off information produced either by the government, or by market participants such as short-sellers who are willing to do substantial digging, usually because they have an interest in the firm's relatively short-term financial prospects. While some inaccuracies in climate risk disclosures may be adequately--or even excessively--litigated under this regime, others that do not directly affect the firm's bottom line might slip through the cracks. Key among these may be greenhouse gas disclosures, which so far have failed to generate any shareholder lawsuits. Moreover, the plaintiffs who seem best suited to bring these lawsuits--the climate activist investors who have lobbied so hard for firms to act on climate--have been virtually absent in climate-related shareholder litigation to date. Accordingly, I argue that under the current regime for shareholder litigation, climate disclosures may not live up to the hopes of their proponents. [ABSTRACT FROM AUTHOR]

Copyright of Taiwan Law Review is the property of Angle Publishing Co., Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The European Green Deal and the European Climate Law highlight the EU's commitment to strive for carbon neutrality. Considering the magnitude of the global challenge, it is evident that a green transition will not succeed without the efforts of every sector, including financial institutions. Concerns have been raised that central banks may, in fact, contribute to the increase of greenhouse gas emissions and, in consequence, aggravate global warming. This all has currently resulted in a rapid expansion of the debate on the potential role of central banks, and in particular the ECB, to consider climate objectives. In the European context, however, it is often argued that environmental sustainability lies outside the ECB's traditional core mandate to focus on price stability. This article aims to introduce the environmental integration principle, laid down in Article 11 TFEU, in the ECB's legal framework, and provide an analysis of the possibilities for and limitations to the greening of the ECB's monetary policy based on this provision. Although Article 11 TFEU has great potential with regards to the greening of sectoral policies, in legal literature, the provision has not gained enough academic attention in terms of the financial sector. [ABSTRACT FROM AUTHOR]

This section discusses significant 2021-2022 European Union (EU) environmental law cases handled by the Court of Justice of the EU (CJEU). Topics explored include the third-party access to court records addressed in the case Friends of the Irish Environment Ltd. v Commissioner for Environmental Information, the alleged infringement of EU law involved in the case Czech Republic v Poland, and the greenhouse gas emission allowances under the EU emission trading scheme held by the CJEU.

The Inflation Reduction Act (IRA) marks a pivotal milestone in U.S. climate legislation. Included in the IRA are a number of changes and modifications to existing renewable energy tax credits, as well as the enactment of new renewable tax credits. This article provides an in-depth overview of these renewable tax credits, how they operate after the IRA, and recent IRS guidance relating to various aspects of the renewable credits. [ABSTRACT FROM AUTHOR]

The United States government has indicated a desire to advance environmental justice through climate policy. As fossil fuel combustion produces both conventional pollutants and greenhouse gas (GHG) emissions, climate mitigation strategies may provide an opportunity to address historical inequities in air pollution exposure. To test the impact of climate policy implementation choices on air quality equity, we develop a broad range of GHG reduction scenarios that are each consistent with the US Paris Accord target and model the resulting air pollution changes. Using idealized decision criteria, we show that least cost and income-based emission reductions can exacerbate air pollution disparities for communities of color. With a suite of randomized experiments that facilitates exploration of a wider climate policy decision space, we show that disparities largely persist despite declines in average pollution exposure, but that reducing transportation emissions has the most potential to reduce racial inequities. [ABSTRACT FROM AUTHOR]

Purpose: Rising greenhouse gases have contributed to global warming above the pre-industrial levels with detrimental effects on world climatic patterns. Extreme weather has inflicted drastic impacts, including loss of lives and livelihoods and economic disruption. However, collective international cooperation in adopting greenhouse gas emission mitigating measures can translate into long-run beneficial effects of improving environmental quality. This study examines if international environmental cooperation among the world's top ten polluters can reduce production side emissions. Design/methodology/approach: The panel estimation procedure was applied to data from ten top polluting countries from 2000 to 2019. Findings: The results revealed a statistically significant inverse association between a nation's commitments to international environmental treaties and carbon dioxide emissions. Other than confirming the environmental Kuznets curve effect, industrial intensification, international trade and law rule are other strong correlations of carbon dioxide emissions. Research limitations/implications: The main policy implication is the urgency for the leaders of the world's top ten polluters to actively cooperate in developing and implementing new production-side carbon emission measures as well as the implementation and enforcement of existing international treaties to minimize further environmental damage and let the countries in the lower ranks of carbon emissions to enjoy the long-run benefits of the decarbonized world. Originality/value: This study makes a new contribution to the environmental research literature by unfolding how collective global cooperation on environmental challenges can help reduce environmental damage in a coherent analytical framework. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-09-2022-0598 [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this publication is to present the most important features with which the smart mobility approach is characterized. Design/methodology/approach: Critical literature analysis. Analysis of international literature from main databases and polish literature and legal acts connecting with researched topic. Findings: In a smart city, smart mobility also plays an important role in environmental protection. Modern modes of transportation, such as electric cars and urban bicycles, reduce greenhouse gas emissions and air pollution. Thus, smart mobility contributes to improving air quality and the health of residents. As part of the smart city, smart mobility is also seen as part of improving traffic safety. Smart traffic monitoring systems and rapid response to dangerous situations, such as collisions or accidents, can help minimize accidents and collisions. Smart mobility is also one of the key elements of a smart city, which contributes to improving the quality of life for city residents by increasing mobility, reducing air pollution, improving road safety and introducing innovative transportation solutions. Originality/value: Detailed analysis of all subjects related to the problems connected with the smart mobility in smart city. [ABSTRACT FROM AUTHOR]

In a unanimous decision of 24 March 2021, the German Federal Constitutional Court declared certain provisions of the Federal Climate Change Act (FCCA) unconstitutional. The Court upheld the greenhouse gas emission targets for the period until 2030 but found the outlined review procedure for the following years lacking: it failed to adequately specify targets, thereby violating the fundamental rights of the applicants. Despite the at times exuberant reception, this case note argues that the decision stopped well short of a legal revolution. Ultimately, the Court embraces an orthodox doctrine on positive obligations that emphasises deference to the legislature on climate change policy. Nonetheless, there are some genuine, albeit subtle legal innovations: (1) extending legal standing to applicants resident outside of Germany; (2) specifying general constitutional commitments to tackling climate change through the Paris Agreement, and (3) relying on a concept of intergenerational equity in the distribution of emission reduction burdens. [ABSTRACT FROM AUTHOR]

The London School of Economics and Columbia University Law School recently published a report that stated that the number of climate change-related lawsuits has more than doubled since 2015.1 According to databases maintained by the London School of Economics and Columbia University, approximately 800 such cases were filed between 1986 and 2014, but more than 1,200 cases have been filed in the last eight years, bringing the total number of cases tracked by the databases to 2,002. In the past two years alone, more than a dozen climate change-related lawsuits have been filed in U.S. courts against companies in the energy sector.3 Unsurprisingly, defendants in climate change lawsuits have sought -- and will no doubt continue to seek -- coverage for climate change claims from their insurance carriers. Coverage Lawsuits Involving Climate Change-Related Claims Some of these climate change disputes have led to insurance coverage litigation. Yet while lawsuits seeking damages for losses allegedly caused by climate change continue to proliferate, the number of insurance coverage lawsuits that explicitly involve climate change claims has been relatively low. [Extracted from the article]

The article examines the implementation of environmental aspects of social responsibility by trade enterprises in Ukraine. An analysis of environmental aspects, financial and non-financial reporting, and websites of large trade enterprises was carried out in relation to the display and provision of openness and availability of information about environmental aspects and enterprise costs. The composition of costs and their influence on the financial and economic indicators of the enterprise were studied. The implementation of one's own environmental policy and environmental initiatives, the implementation of projects, technologies, programs, and management methods used by trade enterprises of Ukraine were considered. The socially responsible enterprises' compliance with the requirements of current legislation, national and international standards, requirements for environmental standards of product quality and safety, preservation and protection of the environment, and the use of correct approaches to ensure the positive impact of their business activities on the environment were analyzed. The introduction of environmentally safe, resource- and energy-saving technologies, ecological containers and packaging, development of renewable energy sources, reduction of own greenhouse gas emissions, modern methods of utilization and recycling of PET bottles, plastic, waste paper, and waste, holding eco-actions on greening territories and charitable actions, motivate suppliers and carry out other measures that reduce the negative impact on the environment, contribute to the preservation of people's health, restoration of the environment and take care of the future of the planet. [ABSTRACT FROM AUTHOR]

While state authorities eyed lithium as a new development frontier with CODELCO as an important actor, the company became responsible for at least three episodes - in 2011, 2018, and 2022 - of mass contamination in Ventanas and two neighboring towns, Quintero and Puchuncaví, both of which are host to other polluting industries. Under President Bachelet's second government, the state renegotiated exploitation contracts to establish clauses that might advance the recommendations of the expert commission advising on lithium policy. : As lithium drives renewed promises of natural resource-based development, Chile confronts the power of private corporations eager to cash in on a global green transition However, while Ponce Lerou and other executives formally left the company after the settlement, to the astonishment of government officials and the public, SQM soon hired the same individuals as external strategic advisors, initially with plans to grant them offices in the company's headquarters. [Extracted from the article]

Framework climate laws are being introduced around the world at the national and subnational scale to set greenhouse gas emissions reduction targets and coordinate climate change mitigation activities to meet those targets. Drawing on a 2020 empirical study, this article analyses the legal design and early implementation of an Australian example: the Climate Change Act 2017 (Vic). The Victorian case study informs a discussion of the role that such laws can play in supporting the realisation of the climate change mitigation goals of the international Paris Agreement. The article explores the promise and the challenges of using framework legislation to align domestic emissions reduction activities to Paris Agreement temperature goals. It demonstrates the potential, but also the pitfalls, of the bottom-up, facilitatory regulatory approach employed in Victoria, which is similar to many other framework laws and the core emissions reduction mechanisms of the Paris Agreement itself. Cross-referencing recent experience in comparative jurisdictions, the article highlights lessons for the legal design and implementation of effective, impactful framework climate change laws. [ABSTRACT FROM AUTHOR]

Our study mainly focuses on the major challenge faced by organizations while controlling the emission of greenhouse gases via the carbon management system (CMS), keeping in view the complexity of climate change, which is considered as one of the major challenges of present times. We narrow our focus to the factors related to the emission of carbon within this system. We assess the quality of the CMS using the guidelines provided by Tang and Luo (2014), Australian Accounting Review, 24(1), 84–98. The data for this research include the carbon emission–based data of the multinational companies, which disclose their carbon footprint. Based upon the empirical findings, we came to understand that the law of material balances prevails as carbon emission has a negative co‐relationship between the carbon emissions and CMS, meanwhile the effects are not eminent. The adverse impact of such emissions has become obvious within 2 years. The quality of the CMS is determined by Target, Project, GHG (greenhouse gases) accounting, and disclosure. Our study has important policy implications for researchers, policymakers, and accounting companies because the role of the CMS is becoming integral. [ABSTRACT FROM AUTHOR]

There is plenty of information about mechanisms that can motivate companies' voluntary reduction of greenhouse gas (GHG) emissions. However, there needs to be more investigation of the effects that fixed and non-fixed monetary incentives could bring to executives (who make decisions on these issues). We analyzed 31 B3-listed companies that disclosed emissions inventories (GHGs) between 2012 and 2019. We conducted an exploratory analysis using a documental analysis of non-financial disclosures and a two-stage dynamic panel (GMM-SYS) to control for potential endogeneity problems. The results are robust and suggest the effectiveness of these monetary incentives to reduce GHG emissions. Our main results are i) A positive and contemporary relationship exists between monetary incentives and carbon emission reductions. ii) The variables ROA and Total Assets showed a positive and significant relationship with emissions so the larger and more profitable the firm the higher the emissions; iii) Despite ineffective GHG environmental laws, Brazilian companies seem to offer incentives to reduce carbon emissions voluntarily. Our results are relevant especially for regulators and shareholders, as they provide subsidies for emissions control in developing countries like Brazil and align interests. [ABSTRACT FROM AUTHOR]

Available from: https://doi.org/10.1080/13501763.2021.1918218 40 Oberthür, S. and von Homeyer, I. (2022) From Emissions Trading to the European Green Deal: The Evolution of the Climate Policy Mix and Climate Policy Integration in the EU. At first sight, two features stand out in the development of EU climate policy in 2021. I EU Climate Policy in 2021 As already mentioned, two elements of the European Green Deal stand out for EU climate policy development in 2021. The Climate Law also created a framework for the further development of future EU climate policy, not least by foreseeing a 2040 GHG emission reduction target along with an overall indicative emission budget for 2030-50 by 2024, by establishing a European Scientific Advisory Board on Climate Change, and by mandating a consistency review of other EU legislation with the 2030 and 2050 climate targets (Regulation 2021/1119, Articles 3, 4, 6 and 12). [Extracted from the article]

Copyright of Inventum. Ingenieria, Tecnologia e Investigacion is the property of Corporacion Universitaria Minuto de Dios and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: The purpose of this study is to analyze the simultaneous effect of the regulation (non-financial information (NFI)- 254/2016) and the factors driving in (no)environmental disclosure (ED) and the reduction of greenhouse gases (GHG) of Italian companies. Design/methodology/approach: The study is supported by the theory of legitimacy. The level of ED regarding GHG was measured for 125 Italian companies in 2018, the companies were selected from Commissione Nazionale per le Società e la Borsa di Itália, because those included in the list of companies in the Dichiarazione Non Finanziaria all date back to December 31, 2019. Using a scoring system and content analysis of their annual reports, through 20 criteria supported by the literature. The study explores variables of the current legislation, the effect of disclosure and no disclosure, and the influence of the shareholding structure, managerial shareholding, economic power and industry classification at the ED level. The analyses were carried out using structural equation modeling because the authors seek to understand the cause-effect relationship between aspects of legitimacy with dissemination on GHG emissions. Findings: This study finds that NFI. Research limitations/implications: The study is limited to understanding the effect of legislation on the level of mandatory disclosure in non-financial reports, and the Paris Agreement (voluntary) disclosure on GHG, so the choice of companies analyzed and the study variables are limited to companies that are required to publish non-financial reports, and the variables considered in the study take into account normative aspects and voluntary guidelines of the Paris Agreement. As implications, the results show that adherence to the Paris Agreement contributes more to the quality and comprehensiveness of the information than adherence to the European and Italian legislation (mandatory), which reinforces the understanding that even if the legislation has advanced, it is still soft regarding the quality of information on companies' practices regarding the reduction of GHG emissions. Practical implications: The findings suggest that non-financial reports are being adopted by listed Italian companies, however, there is variation in the scope of the reports, especially on GHG. For companies listed in Italy, non-financial reports comply with Italian Legislative Decree 254/2016 (mandatory), however, the quality of information on GHG is improved when companies' reports have greater adherence to the Paris Agreement (voluntary). Social implications: The results can encourage companies listed in Italy to incorporate NFI in annual reports based on the Paris Agreement, the global pact to reduce GHG emissions, thus building confidence in the capital market and society in general. Originality/value: The findings contribute to the literature on non-financial reporting, the level of compliance with legal basis and international best practices, such as the Paris Agreement, providing empirical analyzes of non-financial disclosures in publicly available reports in Italy. [ABSTRACT FROM AUTHOR]