In Q4, here’s what’s coming up in the world of climate regulation

We're well into September — a time when most of us are back to our desks and preparing for a new season of life and work.

With that in mind, here’s what’s coming up in the world of carbon regulation:

#1: The US Election

With a US election looming, many are wondering about the potential impact on climate targets and regulation. The IRA is a hot topic, but the way this legislation is designed should keep it relatively safe in a new presidency. The SEC’s Climate Disclosure Rule is currently being challenged by the 8th Circuit Court of Appeals, and a change in White House leadership is unlikely to affect this process.

Energy companies may be most affected by the results of this election. A Harris administration will likely see further limits set on emissions in the energy space, while Trump has promised to pursue deregulatory action on the climate front.?

VP Kamala Harris has broadly supported the Biden administration’s climate policies including investments in electric vehicles, renewable energy incentives, and emissions reduction plans. However, during Tuesday’s debate Harris stated that she would not ban fracking if elected citing the goal of reducing dependency on foreign oil. In contrast, Donald Trump has stated his administration would rescind most of the Biden administration's climate regulations, including removing IRA renewable energy and electric vehicle incentives. He has also pledged to remove red tape around domestic fossil fuel development, end offshore wind projects, and withdraw from the Paris Agreement if elected.

#2: European regulations

We are now officially out of the CBAM transition window, meaning that by October 31, companies subject to CBAM regulations will be required to provide primary data for their product carbon footprints. The race is on to extract a green premium from the market as demand for lower carbon products matures from the exception to the norm.

#3: Companies need systems in place

As more regulations around the world move from ‘proposed’ to ‘reality’ and your customers start to seriously reevaluate their supply chains, you must have a solution in place for carbon reporting. As carbon becomes a currency in procurement, the right carbon data is essential for participating in a carbon-aware economy.

Just like not having a credit score limits your borrowing options to those with high interest rates, not having a product or business carbon footprint might also lead to higher interest rates on capital or fewer bargaining chips with customers.

?? CarbonChain Comply is designed to help you get a handle on your carbon data and get ahead in a carbon-aware economy.

Get in touch with our team to find out more.