Climate Emergency Act 2020
Jump to navigation
Jump to search
Act 59
In accordance with the Supreme Directive of the Empire of Adammia, on the authority of His Imperial Majesty the Emperor, the Ruling Council and the House of Citizens, in Parliament assembled, this following Act of Parliament is hereby enacted, with the purpose of setting out appropriate measures by which the Empire may respond to the global climate crisis.
Section 1
- a) It is hereby declared that a climate emergency exists globally, and within Adammia, and the Imperial Government is compelled to take action to respond to this crisis.
- b) Henceforth, Adammic legal persons shall be prohibited from owning shares in, lending money to, or doing business with companies which:
- i. Are directly involved in deforestation, specifically but not limited to the Amazon Rainforest;
- ii. Are directly involved in coal mining, or oil and natural gas extraction.
- c) For the purposes of the previous subsection b), a legal person shall be any individual, registered company, political party, or component of His Majesty's Imperial Government.
- d) It is an exemption to the above subsection b) that an Adammic legal person may own shares in an index fund or an exchange-traded fund (ETF) which may or may not include as a component shares in an otherwise problematic company, provided that such a fund is structured based on nationality (exempli gratia, membership of the Standard & Poor 500), level of market capitalisation or any other metric not specifically related to membership of the non-renewable energy sector. Index funds and ETFs which specifically relate to the non-renewable energy sector may not be traded.
- e) Any legal person which happens to own shares in a company in violation of the above subsection b), or which owns index fund shares or ETFs which are known to include shares of such a violating company by virtue of being part of the relevant sector, shall be required to sell, at market value, the relevant shares immediately following the enactment of this Act.
- f) Non-compliance with this section shall be a criminal offence, and a court finding a legal person guilty of such an offence may issue the offender a fine of up to £20 payable to His Majesty's Imperial Treasury. The court may also order the seizure of the offending assets by the Treasury and their subsequent immediate sale at market value.
Section 2
- a) It shall be an offence to deliberately import palm oil into the Empire of Adammia,
- i. Except where it can be proven that the palm oil is produced sustainably in a way which does not contribute to deforestation.
- b) Non-compliance with this section shall be a criminal offence, and a court finding a legal person guilty of such an offence may issue the offender a fine of up to £10 payable to His Majesty's Imperial Treasury.
Section 3
- a) At any time that any component of His Majesty's Imperial Government purchases paper following the enactment of this bill, the paper must be:
- i. Certified as sustainable by the Forest Stewardship Council (FSC); or
- ii. Recycled.
Passed by the House of Citizens
7 in favour, 6 not present
Passed by the Ruling Council
4 in favour, 2 opposed, 3 not present
Signed,
Adamus Primus Imperator
19th April 2020 20:41
XIX.IV.MMXX VIII.ADAMVS I