Firm named ‘ESG, Green & SRI Law Firm of the Year’ at Islamic Finance News Law Awards 2023

Global law firm Norton Rose Fulbright has received the ‘ESG, Green and SRI Law Firm of the Year’ accolade at the Islamic Finance News (IFN) Law Awards 2023.

The IFN Law Awards are the longest-running and only fully independent Islamic Awards disseminator and are subject to global nominations from across multiple areas of practice within the global Islamic financial legal industry.

Norton Rose Fulbright’s nomination was based on the firm’s work on multiple award-winning Islamic finance deals from the past year, including:

• Advising The Arab Petroleum Investments Corporation on the MENA region’s first Islamic facility for voluntary carbon offsets, which involved the signing of a US$75m Murabaha agreement in favour of Hartree Partners Power & Gas Company (UK) Limited.
• Advising the mandated lead arrangers, HSBC and eleven other financial institutions, on a US$1.1bn sustainability linked dual tranche murabaha financing to Al Ahli United Bank in Bahrain.
• Advising HSBC and SMBC International Bank on a US$1.165bn green loan dual-tranche commodity murabaha financing to Al Rajhi Bank, a transaction considered the largest Shariah-compliant syndication in the Middle East that complies with the Green Loan Principles and ESG practices.

The firm also received an honourable mention for the banking and finance category.

Commenting on the awards, Dubai-based Islamic Finance Partner and Head of Middle East, Mohammed Paracha said:

“We are thrilled to be recognised by the IFN Law Awards as 2023’s ‘ESG, Green and SRI Law Firm of the Year.’ This has been another positive year for our Islamic finance practice, as we have been honoured to support our clients on a number of important and regionally-significant projects to further the development of sustainable practices in the Islamic finance sector.”

Norton Rose Fulbright’s global Islamic finance lawyers have long-standing experience in delivering pioneering legal advice to Islamic financial institutions, conventional banks and corporates. They also have deep experience of helping the firm’s clients navigate rapidly evolving international policy and regulation in the areas of climate change and sustainability, ESG and sustainable finance.