UK CBAM Proposal
The government-issued document proposes calculating the UK CBAM costs for each quarter based on the average UK ETS auction prices from the previous quarter. Additionally, it suggests an adjustment to the UK ETS price to reflect the presence of free allocations in domestic industries. Furthermore, the government states that if imported CBAM goods are subject to
REACH, RoHS, and Conflict Minerals Regulations
REACH Regulation (Registration, Evaluation, Authorisation, and Restriction of Chemicals) Purpose and Scope: REACH is the European Union's regulatory framework for the production, marketing, and use of chemicals, primarily aimed at protecting human health and the environment from the adverse effects of chemicals. Implemented on June 1, 2007, it applies to companies manufacturing or importing at least
Expansion of the European Union’s Carbon Border Adjustment Mechanism (CBAM)
The European Union (EU) continues to lead global efforts in climate action through its Carbon Border Adjustment Mechanism (CBAM). On September 30, 2024, the European Commission announced plans to expand the scope of CBAM. To inform this initiative, a stakeholder consultation was launched, open from September 30 to October 25, 2024, to gather insights on the
Draft Regulation on Türkiye Green Taxonomy
In line with global taxonomy initiatives aimed at defining and promoting sustainable economic activities, the draft “Türkiye Green Taxonomy Regulation,” aligned with the European Union (“EU”) taxonomy and tailored to Türkiye’s specific needs, has been published by the Ministry of Environment, Urbanization, and Climate Change for public consultation. As outlined in Türkiye’s Twelfth Development Plan (2024–2028)
Draft Guidance on Transition Plans for Mitigating Climate Change Published by EFRAG
On November 4, 2024, the European Financial Reporting Advisory Group (EFRAG) published the Draft Implementation Guidance on Transition Plans for Mitigating Climate Change. This guidance aims to assist companies in reporting their climate transition plans transparently and consistently under the European Sustainability Reporting Standards (ESRS). Targeted at large companies, the sector-agnostic guidance outlines strategies for emissions
Amendments Made to the Implementation of Customs Law No. 4458
Significant amendments were introduced to the implementation of certain provisions of the Turkish Customs Law No. 4458 through a Presidential Decree published in the Official Gazette on August 6, 2024 (Issue No. 32624). These amendments mark a substantial revision of Turkey’s customs regime, and the new regulations are set to take effect on August 21, 2024.
The Impact of Recent Protocol Changes on Residence Permit Applications for Foreign Nationals
The Protocol ("Protocol") between the Directorate of Migration Management and the Union of Notaries introduced a new practice regarding residence permit applications of foreign nationals. This regulation, which came into effect on 17 July 2024, encompasses changes to the processes related to residence permits for foreigners in Türkiye. As stipulated by the Law on Foreigners and
Amendments to the Turkish Commercial Code and Certain Laws is Approved by the Turkish Grand National Assembly
The Amendments on the Turkish Commercial Code and Certain Laws (“The Amendment”), was adopted and published in the Official Gazette on May 29th, marks a significant legislative development. This comprehensive omnibus bill proposes amendments to several pivotal articles within the Turkish Commercial Code (“TCC”), including Article 366, 375, 392, and Temporary Article 7, alongside the introduction
ADOPTION OF THE EUROPEAN UNION CORPORATE SUSTAINABILITY DUE DILIGENCE DIRECTIVE
On May 24, 2024, the European Council announced the approval of the Corporate Sustainability Due Diligence Directive (“CS3D”) by the Member States. This marked the final step in the adoption of the law, which imposes mandatory obligations on large companies to address their negative impacts on human rights and the environment throughout their value chains. The
EU Critical Raw Materials Act
The Critical Raw Materials Act ("CRMA"), proposed by the European Commission on March 16, 2023, aims to ensure a diverse, secure, and sustainable supply of critical raw materials for European Union ("EU") industries and came into force on May 23, 2024. As part of a broader "Green Industry Plan" and aligned with the "Net-Zero Industry Act"