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Aktuelle eAlerts

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  24.11.2023

  International

  Carbon Border Adjustment Mechanism transition in effect since 1 October 2023

  On 1 October 2023, a two-year transitional period began for implementation of Regulation (EU) 2023/956, which introduces the Carbon Border Adjustment Mechanism (CBAM). CBAM levies punitive CO2 charges against third-country importers of certain goods and only permits CBAM declarants to import these goods into the EU. Although reporting obligations have been imposed for the two-year transition period, CBAM does not fully go into effect until 1 January 2026. For more details, follow this link to the main article.A. General InformationFrom 1 January 2026, importers of specific goods from third countries...

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  22.11.2023

  Middle East

  COP28 Ahead: Wave Energy - The Next Wave of Renewable Energy

  While solar and wind are the most prevalent renewable energy sources, other natural resources and occurrences can be harnessed to generate energy, such as the heat of the Earth and even the motion of the ocean. Waves have a higher energy density than other renewable energy sources such as wind, solar, biomass or geothermal. However, only half a gigawatt (GW) of ocean power had been installed globally as of 2021. Despite this, the International Renewable Energy Agency predicts a global potential of 70 GW by 2030 and 350 GW by 2050.Generating power from waves is not a new concept. Many wave energy...

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  17.11.2023

  Middle East

  Sustainable Aviation Fuels – The Journey Towards Sustainable Aviation

  In 2022, the aviation industry accounted for approximately 2% of global CO2 emissions and nearly 800Mt of carbon dioxide. Decarbonisation remains a major challenge for the aviation industry and  sustainable aviation fuels (“SAF”) and hydrogen (to be discussed at the COP28 Green Zone at the Global Sustainable Aviation Forum) are considered as important in reaching net-zero by 2050.Concerning hydrogen, the two main propulsion methods are combustion and fuel cells. Combustion involves burning hydrogen instead of kerosene, in a modified gas turbine, while fuel cells involve electricity...

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  16.11.2023

  International

  NFTs under MiCAR – are they regulated or not?

  The Markets in Crypto-Assets Regulation (MiCAR) sets down a harmonised regulatory framework for crypto-assets. MiCAR's overarching goal is to extend regulatory oversight to those categories of cryptos and tokens that have so far remained outside the scope of regulation. The following focuses specifically on non-fungible tokens (NFTs) and examines whether they are covered by MiCAR.What are NFTs?NFTs are cryptographic records stored on a blockchain that are unique in that they are linked to a specific asset. They primarily serve as the electronic "embodiment" of mainly digital, but also physical...

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  07.11.2023

  MENA

  COP 28 Ahead: Hydrogen Ambitions in MENA

  During COP28, the fourth annual Hydrogen Transition Summit will be held to examine: (i) increasing hydrogen production; (ii) mobilising finance and de-risking investment for renewable and low-carbon hydrogen projects; (iii) policy frameworks to match global hydrogen supply and demand; and (iv) connecting the global supply chain.Low-carbon hydrogen is seen as increasingly important for achieving the rise of national and international decarbonisation goals. In May 2023, the Hydrogen Council Insights report[1] noted that globally there has been 38 megatonnes per annum (“MT p.a.”)...

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  06.11.2023

  International

  Delay claims under the FIDIC form: Obrascon challenged

  A recent decision of the Court of Appeal of the Dubai International Financial Centre has adopted a stricter interpretation of the requirements for notifying delay claims under the FIDIC form, disagreeing with earlier caselaw from the English courts. A failure to notify claims on time results in a loss of entitlement under the FIDIC form. The Court of Appeal decision will therefore be of great importance to those dealing with extension of time claims under the FIDIC form. Claims notification under FIDIC and the rule in Obrascon Clause 20.1 of the FIDIC 1st Edition contracts (clause 20.2 in the 2nd...

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