Prospect Law

Key Sector Shifts You Need to Know From nuclear to maritime, here are some critical updates from the team at Prospect ⚡ Nuclear Energy The UK’s nuclear projects, like Sizewell C and Small Modular Reactors, are set to drive clean energy. Robotics and AI are transforming nuclear decommissioning. 🚢 Maritime The UK is ramping up regulations for maritime decarbonization, focusing on reducing emissions and fostering sustainable shipping practices. 🏛️ Mutuals & Co-operatives The Labour government's push to double the mutual sector signals a shift toward more community-driven, sustainable business models. 🌐 Immigration Don’t forget - UK’s eVisa transition deadline is 31 December 2024. Stay on top of your immigration status to avoid disruptions. 🌍 Sustainability The EU's ESG ratings regulation is improving transparency, while tourism is focusing on reducing its carbon footprint with a global pledge for climate-friendly actions. Read the full newsletter below. Contributors: John Warden John Ireland Alice Boyle Reina Maria van Pallandt Rikul Patel David Gudopp

Micro nuclear plants like these will play a very important important role in helping the country meet its target of net zero emissions by 2050.

The UK government has proposed new rules for ESG ratings providers, emphasizing transparency and accountability in the growing ESG sector. https://lnkd.in/dgy4qksY.

Discretionary Mutuals play a key role in Australia’s university sector through Unimutual, which Monash University is a long-standing member of. Internationally, MVM is gaining traction, with organisations like Newcastle Building Society in the UK adopting the framework to quantify and communicate the total value they create for stakeholders. To find out more about how cooperatives and mutuals measure their value, see https://mvm.coop/ More details on the latest Mutual developments in our latest newsletter: https://lnkd.in/epRtna7C

The challenge of decommissioning the UK’s nuclear assets has been an ongoing saga - soaring costs, extended timelines, and a cycle of inefficiency. But amidst the frustration lies an opportunity: can today’s advanced technology and innovative approaches transform decommissioning into a more manageable and cost-effective process? Two major areas of focus stand out. Robotic technologies and AI are revolutionizing industries worldwide, from brain surgery to aircraft design. Their potential in nuclear decommissioning - whether sorting radioactive waste or demolishing contaminated structures - is immense. Secondly, future-proofing new facilities by integrating dismantling into the design process can reduce costs and ensure smoother transitions in the decades to come. The key to addressing legacy assets lies in bold, pragmatic solutions. Entrepreneurs and innovators have a vital role to play in driving these changes, challenging the status quo, and demonstrating viable alternatives to regulators and stakeholders. At Prospect Law, our Energy and Nuclear network offers the expertise and international connections to support these efforts and drive progress in this critical industry. Article by John Ireland Phone: +44 (0)771 206 9240 Email: [email protected]

Over 50 nations have pledged to advance sustainable tourism through a U.N. declaration, marking a major step toward reducing the sector's environmental impact. https://lnkd.in/d5R_EVDT

Immigration Update November 2024: eVisa Transition Deadline & Self-Sponsorship Visas Explained The deadline for transitioning from physical Biometric Resident Permits (BRPs) to the new eVisa system is fast approaching - 31 December 2024. After this date, all BRPs will expire, and you’ll need to access your immigration status digitally. The eVisa system provides a secure, online record of your immigration status, allowing for easy verification when proving your right to work, rent, or travel in the UK. While the process aims to be straightforward, there have been some system glitches and concerns about accessibility for those with limited internet access. If you need assistance setting up your UK Visas and Immigration account, don’t hesitate to reach out to us for support. Read the full article here: https://lnkd.in/eBK7n76y

The 2024 manifesto pledge to double the size of the UK’s cooperative and mutuals sector, though focused on credit unions, mutual insurers, building societies, and friendly societies, also includes our own niche of discretionary mutuals. Discretionary mutuals are a type of mutual organisation that offers an alternative to traditional insurance. They are member-owned, by people who share a common interest or industry. They offer protection products instead of traditional insurance, meaning that they provide financial support for a set of predetermined risks, but the decision to pay a claim is at the discretion of the mutual’s board. Being part of a mutual also fosters a sense of community and collaboration amongst its membership, beyond their shared common goals and interests. Read more on Mutual Developments in our latest newsletter, or get in touch with our Head of Mutual Development, Rikul Patel https://lnkd.in/epRtna7C

The EU Council has approved a regulation to enhance transparency and trust in ESG ratings, aiming to standardize methodologies and boost investor confidence. https://lnkd.in/dSMdDJed

The UK government’s GREAT campaign underscores the nation’s leadership in innovation and sustainability across industries, with the nuclear power sector playing a key role. As highlighted in BEIS’s international trade campaign, the UK nuclear industry is not only advancing energy security but also contributing significantly to global decarbonisation efforts. Explore how nuclear power is shaping the UK’s role in global energy transformation in BEIS’s Industrial Strategy brochure. https://lnkd.in/edQEg_X2