Green Policies, Regulations & Standards

The Markets in Financial Instruments Directive II (MiFID II) establishes the regulatory framework for investment services across the European Union. While its primary objective is investor protection and market transparency, sustainability became an important part of the framework through amendments that took effect in 2022. These require investment firms providing investment advice or portfolio management to ask clients about their sustainability preferences and consider those preferences when assessing the suitability of investment products. The changes form part of the EU Sustainable Finance Strategy and seek to better align investment advice with investors' sustainability objectives.

The New York City Climate Mobilization Act (CMA) is a package of local laws enacted in 2019 to reduce greenhouse gas emissions from buildings, which account for nearly 70% of the city's emissions. Its centerpiece, Local Law 97 (LL97), establishes emissions limits for most large buildings beginning in 2024. The package also promotes green roofs, solar installations, energy efficiency financing, and building energy transparency. Together, these measures form one of the world's most ambitious municipal building decarbonization initiatives and support New York City's long-term goal of achieving carbon neutrality by 2050.

Norway’s renewable energy and grid infrastructure build-out is governed by licensing under the Energy Act and related watercourse legislation, with NVE processing licence applications for power plants, dams, and major energy installations. Developers must secure a licence before constructing covered wind, solar, or major grid projects. Onshore wind licensing has shifted toward greater municipal influence and planning gatekeeping, increasing the importance of early stakeholder engagement and a robust permitting strategy.

Norway requires licences for hydropower and watercourse regulation projects under the Water Resources Act and/or Watercourse Regulation Act, with NVE coordinating and processing applications for power plants, dams, and major installations. Licensing involves consultation and assessment and can include strict environmental conditions. Non-compliance risks stop orders, remediation, and licence amendments or revocation. The framework is fully in force and remains a focal point for balancing renewables expansion with biodiversity and protected-watercourse concerns.

Norway’s Environmental Information Act ensures public access to environmental information held by public authorities and private undertakings. Companies can receive requests and must be prepared to respond; if they refuse or do not answer, the requester may appeal. A failure to respond within two months is treated as a refusal that can be appealed, and appeals must generally be filed within three weeks of receiving notice of refusal. The Act creates a strong transparency and reputational compliance driver, demanding reliable internal data and response workflows.

The Climate & Resilience Law is France’s flagship climate framework, embedding decarbonisation into consumption, transport, buildings, advertising and land-use planning. It introduces low-emission mobility zones, tightens rental rules for inefficient housing, restricts fossil-fuel advertising and strengthens climate-related transparency for consumers. Municipalities must adapt mobility and planning to air quality and climate objectives, while businesses must comply with new rules on claims, labelling and building performance. The law operates through hundreds of articles and implementing decrees and is now a central reference for French climate policy and corporate compliance.

Norway tightly controls offshore flaring and venting. Flaring is generally only permitted when necessary for safety reasons, and operators must apply annually (by 1 November) for production permits that include permissions for flaring and cold venting for the next calendar year. Offshore operations also require authorisation for air emissions under Norway’s pollution framework. Compliance depends on timely annual applications, strict adherence to permit conditions, and alignment between petroleum approvals and environmental emission permits.

Norway’s CO2 tax and climate excise duties impose legally binding payment and reporting obligations across fuels and activities, with rates and exemptions updated regularly through the state budget and tax rules. Companies must maintain accurate measurement and reporting because errors can trigger reassessments, back taxes, and sanctions. Sector-specific schemes such as waste incineration duty and mineral product duty are operational with published annual rates. Compliance risk is highest where emissions or fuel-use measurement is complex.

Norway’s Water Regulation implements the EU Water Framework Directive through river basin management plans and measures aimed at achieving good ecological and chemical status for waters. RBMPs for 2022–2027 guide actions across sectors, including wastewater, agriculture, hydropower, and industry. The 2027 WFD timeline increases urgency, and EFTA oversight of Norway’s RBMPs reinforces compliance expectations. Operators are affected through permits and sector rules that must align with water objectives and programmes of measures.

Norway’s Product Control Act establishes a legally binding duty to prevent products and consumer services from causing harm to health or the environment. It supports strong enforcement, including coercive fines for breaches of orders/prohibitions and practical measures such as import/sales bans and potential withdrawal/recall of non-compliant products. Compliance depends on robust chemical and product conformity controls, documentation readiness, and rapid corrective action when authorities identify restricted substances or missing compliance evidence