22 LEXPERT
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2018
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WWW.LEXPERT.CA
Gropper, QC, Mitchell H. Farris, Vaughan,
Wills & Murphy LLP (604) 661-9322 mgropper@farris.com
Mr. Gropper's practice focuses on corporate finance, reorganizations, M&A
and commercial real estate. He has advised boards of directors on take-over
bids, going-private transactions and other corporate matters.
Griffiths, Leonard J. Bennett Jones LLP
(416) 777-7473 griffithsl@bennettjones.com
Mr. Griffiths is part of the Environmental and Energy team that assists clients
with a wide variety of energy, industrial, mining and transportation projects,
including obtaining approvals, completing environmental assessments, con-
ducting M&A/financing transactions, risk management and litigation. He is
certified by the Law Society of Ontario as a Specialist in Environmental Law.
Grenier, Pierre Dentons Canada LLP
(514) 878-8856 pierre.grenier@dentons.com
Mr. Grenier focuses on corporate and commercial matters, and on the energy
construction, and real estate sectors. His experience includes regulatory
regimes in the energy sector, construction claims, contractual arrangements
and manufacturer's liability.
Greenfield, QC, Donald E. Bennett Jones LLP
(403) 298-3248 greenfieldd@bennettjones.com
Mr. Greenfield's energy practice spans asset and share sales and acquisi-
tions in Canada and abroad, LNG and oil and gas development and facilities
financing, construction and operation, as well as Investment Canada Act
matters. He is regularly ranked among the best energy lawyers in Canada
and internationally.
Green, Bram J. Goodmans LLP
(416) 597-4153 bgreen@goodmans.ca
Mr. Green's real estate practice extends to all aspects of domestic and
international utility scale solar and wind power renewable energy generation
projects. He has acted for Recurrent Energy in its development of utility-scale
solar projects in Ontario.
Gorman, William (Bill) Goodmans LLP
(416) 597-4118 wgorman@goodmans.ca
Mr. Gorman's practice focuses on domestic and cross-border corporate
finance and M&A. He represents public companies and underwriters in the
energy sector in a range of transactions including initial public offerings,
debt and equity financings and mergers & acquisitions.
LEXPERT-RANKED LAWYERS
than a done deal, agrees Harvie, who says the
government recognizes it's not necessarily "go-
ing to get it 100% correct the first time, which is
why they've already built in automatic reviews of
those standards."
He says one result emanating from the CCIR
is that companies that are not regulated by this
system, because they're below 100,000 tonnes
per year, have the ability to create offset credits.
"When offsets were $10, companies might have
looked at it and decided investing to actually cre-
ate the offsets wasn't really economic." But as the
price of offsets goes up, he says, we're seeing an
increase in interest by potential offset developers.
For example, Harvie has a client whose emis-
sions are below 100,000 tonnes who changed out
some of its equipment at a plant for operational
reasons and replaced it with much more efficient,
state-of-the-art equipment, creating fewer emis-
sions. "ey weren't required to do that by law
and so could create an offset from it. But to create
the offset they would have to bring in consultants
and it wasn't worth it." Now, says Harvie, they're
revisiting the situation.
Balkanized carbon regime
As to Alberta's competitiveness vis and vis the
CCIR, Warrier thinks the new regulations cut
both ways. "Various foreign investors – some
European investors, or international companies
operating in jurisdictions such as Europe or Aus-
tralia, where this type of legislation and regula-
tory framework already exists, are happy to see an
established framework in place." ere's certainty
around that, and once they understand how it
works, they can price it into their modelling, and
understand how it would impact their investment.
Still, there are investors from other parts of the
world who may not share that European view,
says Cassidy from his vantage point in British
Columbia, a province with experience wrestling
with carbon tax and investment issues. "ese
investors may not be prepared to reflect in their
investment a carbon taxation concept, [when]
they could go elsewhere."
Moreover, says Cassidy, many potential foreign
"I'm regularly asked about
the regulatory regime in Canada
for carbon taxation, the framework.
The range of the uncertainty
will depend, in many respects,
on political outcomes, at both the
federal and the provincial levels."
- PAUL CASSIDY, MCCARTHY TÉTRAULT
