"Energy Transition" is no longer just important but is now urgent. Whilst once essentially policy driven, and limited to more developed markets, notably in Europe, it is now on the agenda of the largest corporates (and their shareholders), investors, funds, and financial institutions in all corners of the globe, as each and everyone of them endeavours to attain a lower carbon footprint. Courts are increasingly called upon to rule on questions involving Energy Transition and the most striking examples are in the area of climate change where diverse claimants are bringing a wide array of actions against not only states and state representatives but also oil and gas companies and pension funds. In a fast-evolving area where there is increased competition, ever-changing technologies, emerging energy sources and new business models, it is imperative that all players stay abreast of developments and are ready to embrace the challenges that lie ahead.
Paris-based International Arbitration partner Michael Polkinghorne discusses the risks, issues and challenges of energy transition.
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