From Australia’s climate change laws to solar energy partnership, we bring you a collation of key updates for August 2022.
Australia’s climate change targets will become law
The Australian house of representatives passes the government’s climate change bill in 2022.
This climate change bill predominantly targets to reduce emission levels by 43 per cent of 2005 levels. Furthermore, by 2050, it aims to reduce carbon emissions to net zero level. Commenting on the bill, Prime Minister Anthony Albanese said, “This Bill records the Government’s ambition to take the country forward on climate action – and it reflects our determination to bring people with us”.
The Bill will now proceed to the Senate to be debated in the upcoming sitting weeks. The bill requires annual reporting by the climate change minister to parliament on progress towards the targets.
Australian law firms experienced growth amid turbulent conditions
The Thomson Reuter’s Institute released the 2022 Australia: State of the Legal Market Report. As per the report, the Australian law firms have performed well overall amidst the harsh conditions.
However, there are two sides to the tale, as the report summary mentions in its title it is the tale of two halves. In the first half of the financial year i.e. until December 2021, Australian law firms saw an upward trend with the demand for lawyers growing by 6.4%. However, the second half saw opposite results, with a dip in demand going into negative.
This does not show an adverse outlook on Australian lawyers’ demand since over the years, the Australian legal industry has been able to maintain a steady growth until the last 6 months.
Mars Australia partners with Lightsource bp
Mars Australia has signed a partnership deal with the leading solar developer, Lightsource bp, to continue with its solar plant production.
Baker McKenzie advised Mars as their legal representative to sign the agreement with Lightsource bp. This Power Purchase Agreement will enable Mars to source renewable energy from two of Lightsource bp’s solar farms. One of which is a 200-megawatt peak Wellington Solar Farm, which is already operational, while the Wellington North Solar Farm has begun its early construction work and is due to be completed in 2024.
Baker McKenzie’s lead partner Aylin Cunsolo said the firm was “delighted to assist our long-standing client, Mars, on this project, which showcases the company’s commitment toward a low-carbon-energy future”.
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