Voluntary carbon offset programs
Voluntary carbon markets continue to be developed with a view to direct private financing to climate-action projects, technologies and nature-based solution projects. As these markets scale up, increasing work is being done to align them with emissions trading mechanisms under the Paris Agreement. Investing in high-quality international carbon reduction projects is one way for businesses to reach carbon neutrality and achieve carbon reduction goals.
The projects are usually based in developing countries and provide additional benefits such as biodiversity, education, jobs, food security, clean drinking water and positive health outcomes.
We have been at the forefront of the development and implementation of carbon markets for almost 20 years. Over the last 10 years, we have consistently advised on a variety of investments into projects generating voluntary carbon offsets, including carbon loans, bonds, prepayment purchase agreements and long-term forward purchases. We have extensive experience in considering issues such as local law due diligence on project seller’s rights to GHG reductions, the legal nature of voluntary credits and implementing bespoke solutions for buyers seeking additional co-benefits (such as supporting Sustainable Development Goals).
We are active in a range of industry groups such as the International Emissions Trading Association and the Task Force on Voluntary Carbon Markets.
“The firm works across a range of clients with carbon projects. They have a range of experience to draw on when providing advice.” Chambers Global 2021: Global-Wide Climate change
“The team is "very involved in the carbon market and is very supportive in this space, providing a lot of experience and contribution.” The source adds: “They are very good on market trends and issues.” Chambers Global 2021: Global-Wide Climate change
Forest Carbon nature bond
Financial Services Regulatory Developments in ESG
ESG is high on the regulatory agenda. Businesses, governments, regulators, financial services firms and individuals all have a part to play in tackling climate change and this view is increasingly shared across society.
A Boost to Integrity in the Voluntary Carbon Market
The Integrity Council for the Voluntary Carbon Market launches the Core Carbon Principles for the Voluntary Carbon Market
EU scales up green subsidies: How to benefit from support for clean investments
On March 9, 2023, the European Commission (EC) adopted changes to its State aid framework to support its “Green Deal Industrial Plan for the Net-Zero Age” (the Net Zero Plan) presented in February 2023. The Net Zero Plan is part of the European Green Deal, which aims to make Europe the world’s first climate-neutral continent by 2050.
Firm named Environment and Climate Firm of the Year at Who’s Who Legal Awards
The annual awards recognise the world’s leading law firms and lawyers across 35 practice areas and industries according to Who’s Who Legal’s independent research.
Banco Santander, S.A. advised on US$22.3m ECA-backed financing
Norton Rose Fulbright represented Banco Santander, S.A. in the closing of a US$22.3 million ECA-backed loan to Brazilian utility company Eletronuclear.
Firm advises the Djermaya Solar project on the first IPP in Chad
Global law firm Norton Rose Fulbright has advised the project company, Djermaya CDEN Energy S.A.S., on the development and financing of phase 1 of a solar project with a total capacity of approximately 34 MWp to be located 30 kilometers north of N’Djamena, Chad. Djermaya CDEN Energy S.A.S. is owned by DIPF Africa Limited and Private Infrastructure Development Group (PIDG) company InfraCo Africa Limited The project consists of the development, financing, construction, operation and maintenance of a 60MW greenfield solar photovoltaic plant developed in two phases, a transmission line and associated interconnection facilities. This is the first solar project to be designed, financed, built and operated by an independent power producer (IPP) in Chad.
Firm named MENA Legal Adviser of the Year at IJGlobal Awards 2020
Global law firm Norton Rose Fulbright has advised on 19 “Deals of the Year” across multiple regions, and has been awarded MENA legal adviser of the year at this year’s IJ Global Awards.
Projects, energy and infrastructure teams recognized at IJGlobal Awards
Norton Rose Fulbright received Global Legal Adviser of the Year, Asia Pacific Legal Adviser of the Year and North America Legal Adviser of the Year accolades at the IJGlobal Awards 2019.
Energy Transition Services
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