Emissions and Carbon Trading

S&C was counsel in the creation of the Chicago Climate Exchange, the first U.S. voluntary program for trading of greenhouse gases, and became the first major international law firm to become “carbon neutral” in our U.S. operations, in 2005, through the purchase of carbon credits as an associate member of the Chicago Climate Exchange.

The Firm was also counsel to the Chicago Climate Exchange in both the establishment of the European Climate Exchange (ECX) in 2005 and in negotiating ECX’s partnership with ICE Futures, whereby ECX manages the product development and marketing of its emissions contracts and ICE lists those contracts on its electronic trading platform. S&C represented the Chicago Climate Futures Exchange (CCFE) in gaining regulatory approval from the Commodity Futures Trading Commission, and continues to represent the CCFE in ongoing matters.

For more than a decade, S&C has been counsel to Sustainable Forestry Management Limited, a for-profit enterprise dedicated to the development of ethical and sustainable forest land use projects in the tropics and sub-tropics, and has advised on the formation of special-purpose vehicles designed to provide carbon-backed financing for forestry projects, among many other matters.

The Firm has both anticipated and responded to our clients’ increased participation in the emissions reduction and renewable energy credit markets. We provide the full range of advice related to these markets, representing clients on transactional as well as regulatory and compliance matters.