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The report assesses the EU's Climate and Energy Package, concluding that the 20% emissions reduction target by 2020 is insufficient to reach the 2050 goal of 80% reduction without incurring extreme economic costs in later decades. It recommends increasing the 2020 target to 30%, establishing a stringent 2030 EU ETS cap of 45-50% reduction, and shifting energy efficiency focus toward absolute energy savings in buildings and transport. The authors argue that these measures would reduce oil and gas dependency, foster the Low Carbon and Environmental Goods and Services (LCEGS) market, and prevent high-carbon infrastructure lock-in.

The Freshwater Trout Aquaculture Dialogue (FTAD) has developed a comprehensive set of draft standards to minimize the environmental and social impacts of freshwater trout farming globally. The standards are organized around six core principles: legal compliance, habitat and biodiversity conservation, water resource protection, fish health and welfare, resource efficiency, and social responsibility. Key environmental requirements include prohibitions on transgenic trout, strict limits on phosphorus discharge (6.5 kg/mt of fish), and the mandatory use of riparian buffer zones of at least 10 meters for new farms. Social standards align with ILO guidelines, prohibiting child and forced labor while requiring a basic needs wage for all employees. The document also specifies rigorous feed sourcing requirements, aiming for 100% certified marine ingredients within five years and a Fishmeal Forage Fish Dependency Ratio (FFDRm) of ≤ 1.5. Certification is site-specific and requires 100% compliance across all standards.

The report estimates that the currently proposed EU ETS Phase III structure would raise between €150-190bn under a 20% emissions reduction target, increasing to €200-310bn if the target is raised to 30%. Germany is projected to receive the highest proportion of these revenues. The authors argue that these funds should be prioritised for climate-related expenditures, such as carbon capture and storage (CCS) demonstrations, low-carbon RD&D, and energy efficiency improvements for vulnerable groups. The report also explores an alternative scenario where the cement and steel sectors are fully auctioned with border levelling; this would increase revenues by €18-22bn from cement and €14-17bn from steel under a 20% target. While some suggest using these funds for national debt reduction, the authors warn that this could damage the legitimacy of the EU ETS, though they acknowledge it as a potential short-term transitional option for severely indebted Member States.

The document estimates that Phase III of the EU ETS will generate between €150-190bn in revenues across the EU by 2020, potentially rising to €200-310bn if a 30% reduction target is adopted. Germany is projected to receive the highest proportion of these revenues, while Italy, Poland, Spain, and the UK are each expected to accrue over €10bn from the power sector alone. The briefing also explores the financial impact of expanding auctioning to the cement and steel sectors and suggests strategic uses for these funds, including carbon capture and storage (CCS) demonstration, renewable energy RD&D, grid infrastructure, and international climate finance.

The report assesses how a 30% GHG reduction target by 2020 would affect EU energy security compared to a 20% target and a business-as-usual scenario. It finds that more ambitious targets generally improve primary energy security by reducing overall energy demand and fossil fuel imports, particularly oil. However, it notes that the transition may increase risks for specific countries like Poland due to a shift from coal to imported gas, and could negatively impact electricity grid security due to the intermittency of renewables and the need for significant new capacity investments.

The research examines how increasing the EU's 2020 emission reduction target beyond 20% interacts with energy security in Poland, the Czech Republic, and Latvia. It distinguishes between 'objective' energy security (quantifiable parameters) and 'subjective' energy security (political discourse), finding that these often diverge. The authors argue that more stringent targets could improve energy security by reducing import dependency through renewables and energy efficiency, and by providing a clearer policy framework to avoid 'suboptimal investment' and 'stranded assets' in technologies like nuclear and carbon capture and storage (CCS). While Poland and the Czech Republic express high subjective insecurity despite relatively stable objective positions, Latvia remains objectively vulnerable due to its high reliance on Russian imports, though it possesses significant renewable potential.

The report argues that the EU's current Climate and Energy Package is insufficient to reach its 2050 goal of 80-95% emissions reduction at a reasonable cost. It suggests that moving to a 30% reduction target by 2020, combined with proactive investment policies in the building and transport sectors and a more predictable carbon price signal via the ETS, would reduce long-term costs and prevent the EU from losing market share in low-carbon technologies to competitors like China and South Korea.

The study analyzes how EU ETS carbon pricing and allowance allocations influence the strategic decisions of manufacturing firms. Key findings indicate that while many firms implement basic energy-saving measures, a significant portion of EU ETS participants engage passively with the market. Crucially, the research identifies a causal link between the stringency of emissions caps and 'clean' product innovation, suggesting that generous free allowance allocations may actually hinder innovation by reducing the signaling effect for senior management.

The study finds that climate policy elements, including the EU ETS and long-term targets, are generally rated as less relevant to corporate investment decisions in the power sector than market factors and technology-specific regulations like feed-in tariffs. For technology providers, long-term targets are significantly more relevant than the EU ETS for both RD&D and sales. Power generators show a high correlation between the perceived relevance of the EU ETS and long-term targets. The research also indicates that technology providers' reliance on technology-specific policies is strongly linked to their product portfolios, while power generators' relevance ratings are less dependent on their technology portfolios. Higher long-term CO2 price expectations and greater certainty about those prices correlate with a higher perceived relevance of the EU ETS for new plant investments.

Based on interviews with approximately 800 manufacturing firms in Belgium, France, Germany, Hungary, Poland, and the UK, the study examines how carbon pricing influences corporate behavior. It finds that while many firms implement energy-saving measures and process innovation, product innovation is more strongly driven by the expected stringency of emissions caps. The research highlights a 'trading threshold' where firms with small excess allowances avoid the market and suggests that generous free allocation of allowances may hinder innovation by reducing the signaling effect of tight carbon budgets to senior management.

The study finds that climate policy elements, including the EU ETS and long-term targets, are generally less influential in corporate investment decisions than market prices and technology-specific regulations like feed-in tariffs. While technology providers view long-term targets as significantly more relevant than the EU ETS for RD&D and sales, power generators see the EU ETS as slightly more relevant for new plant adoption. The research emphasizes that a coordinated policy mix of stringent, predictable instruments and ambitious long-term targets is necessary to drive low-carbon innovation.

The document analyzes the legitimacy crisis in investor-State arbitration caused by the 'dual role' of individuals acting as both impartial arbitrators and partisan counsel. It reviews the arbitration rules of ICSID, UNCITRAL, ICC, and SCC, finding that while they require independence, their application is inconsistent and often lacks transparency. The paper highlights specific cases where concurrent service led to challenges, and compares these to stricter standards in the International Court of Justice (ICJ) and the Court of Arbitration for Sport (CAS). It concludes by recommending a clear proscription against concurrent service, suggesting reforms through rule amendments, institutional interpretations, revised IBA Guidelines, or express provisions in International Investment Agreements (IIAs).

The document details Climate Strategies' transition to a new research programme for 2011, focusing on eight themes including the low carbon economy and adaptation finance. It reviews 2010 projects on carbon pricing, power sector decarbonisation, and the EU's 2020 emissions targets. A significant portion of the text argues for a steel-specific negotiation forum within the UNFCCC to address carbon leakage and competitiveness, and proposes 'Climate Innovation Centres' (CICs) to facilitate technology transition in developing countries through multi-disciplinary coordination.

The report details the financial structure of Stora Enso as of late 2009, noting that shareholders and bondholders are the primary sources of capital. It identifies key institutional investors, banks providing loans, and the company's participation in the EU Emissions Trading Scheme.

The restructuring of Poland's coal-mining industry following the 1989 economic transition was initially hindered by over-employment, high production costs, and price controls. Success was only partially achieved through a program endorsed by the Solidarity trade union and supported by significant public funding for mine closures and social benefits, eventually leading toward long-term viability and privatization.

The report argues that fossil-fuel subsidies lock economies into carbon reliance, exacerbate greenhouse gas emissions, and divert funds from social services. It concludes that while reform is politically difficult due to interest group influence and administrative path dependence, it would lead to aggregate GDP increases and significant CO2 reductions. The document emphasizes that transparency—both through improved national accounting and a new international reporting regime—is essential for successful de-subsidization. It provides a framework for reform based on research, clear objectives, coherent policy design, and the prevention of backsliding through independent pricing bodies.

The report identifies 'Carbon Fat Cats'—companies that received excessive free emissions permits under Phase 2 of the EU ETS (2008-2012). It finds that the top ten companies held 35 million surplus permits in 2008, valued at €500 million, with projected surpluses reaching 230 million permits (€3.2 billion) by 2012. This over-allocation in industrial sectors like iron, steel, and cement means that a small number of power companies, specifically RWE and EON, must deliver the majority of the scheme's net emissions reductions. The report argues that this creates competitive distortions and undermines climate targets, recommending higher ambition (a 30% cut by 2020), limited access to overseas offsets, and the cancellation of Member State reserves.

The report assesses the impact of carbon pricing on Poland's industrial competitiveness, noting that while Poland has benefited from a favorable 1990 emissions baseline and the EU ETS, certain carbon-intensive sectors remain at risk. Due to significant data constraints, the authors identify six specific sectors for further detailed analysis to prevent carbon leakage and economic loss.

The report analyzes comparative water legislation from countries including Canada, Germany, China, and the US to establish common legal principles. It argues that water is traditionally a public asset subject to government control, public ownership, and permanent regulation. Key principles identified include the 'doctrine of effective and beneficial use,' the requirement for environmental impact assessments, and the state's power to amend water rights ex-post to protect public health and the environment. The author suggests that grounding water management in these shared national legal principles can help states resist claims in investment arbitration when enacting new environmental or efficiency regulations.

The document examines the complexities of 'doing participation' in environmental governance, arguing that effective engagement requires moving beyond 'tick-box' exercises to a holistic approach that accounts for power dynamics, social-ecological contexts, and the integration of scientific and local knowledge. It presents various case studies and methodologies, such as Q methodology for stakeholder selection and adaptive co-management frameworks, to address the tensions between representative democracy and deliberative practices.