ESG, Impact & Sustainability

Overview


Your management of corporate sustainability and environmental, social and governance (ESG) issues can have a significant impact on your business’s standing and reputation with investors and other important stakeholders, and on your bottom line. Before making investment decisions, investors increasingly assess how well you integrate sustainable principles of value creation into your business for insights into your future financial performance. Other stakeholders seek to hold your business accountable for the environmental and societal impacts of your operations. To better position your business for long-term value creation, we offer experienced and knowledgeable legal counsel for establishing and maintaining effective ESG practices.

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Results


Representative ESG and Sustainability Experience

  • Investment Funds: Represented a family office in forming, structuring and operating a billion-dollar investment fund program focused on private investments in renewable energy, sustainable food and agriculture and ocean cleanup companies.
  • Corporate Power Purchase Agreements: Represented Unilever as the host customer and offtaker of third-party owned solar systems (rooftop and ground mount) at multiple Ben and Jerry’s production facilities in the United States, including negotiation of real property related access and easements required for construction of the systems.
  • Corporate Power Purchase Agreements: Represented Unilever as the customer purchasing the entire output of a 150 MW wind farm in Tom Green County, Texas for purposes of satisfying its nationwide corporate renewables goals.
  • Corporate Power Purchase Agreements: Represented the Sisters of Notre Dame, as the power buyer, in a power purchase agreement for the offtake of solar power for a hospital facility in Massachusetts.
  • Corporate Power Purchase Agreements: Represented the Catholic Archdioceses of Washington, D.C. in the purchase of solar power for several of its facilities in the Washington, D.C. area.
  • Electric Vehicles: Represented WABCO Holdings Inc. (WBC), a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, in its $10 million strategic investment in Nikola Motor Company, a leader in the design and manufacturing of hydrogen-electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains.
  • Innovative Finance: Advised the GAVI Fund Affiliate on its entry into grant agreements with ten governments and a framework agreement with those governments, the International Finance Facility for Immunization Company (IFFIm) and the World Bank. Those grants are being used to finance bonds issued by IFFIm which provides upfront funding for accelerated vaccination programs organized by GAVI (formerly the Global Alliance for Vaccines and Immunization) in 70 of the world’s poorest countries.
  • Impact Bonds: Advised on the ground-breaking, cross-border impact bond known as the “Utkrisht Bond,” from the Hindi for “Excellence.” The Utkrisht Bond is an example of how highly efficient use of capital can save lives. The bond aims to reduce the number of mother and baby deaths by improving the quality of maternal care in Rajasthan’s health facilities. The money will be used by service providers to improve access to and quality of care in up to 440 private facilities in Rajasthan, supporting government efforts to reduce maternal and new born deaths. Interventions will reach up to 600,000 pregnant women with improved care during delivery and could lead to up to 10,000 lives being saved over a five-year period. The transaction was widely reported on in the press and media, and it breaks new ground with its innovative features enabling cross-border funding to target social interventions around the world.
  • Education Program: Jointly acted for UNICEF and the Education Outcome Fund (EOF) in relation to EOF’s work in Africa and the Middle East with respect to the design of a new outcomes program for education systems around the world. The team advised EOF and UNICEF in setting up a joint structure, which involved the complexities around alignment between the outcomes based model in relation to EOF’s underlying education programs in various jurisdictions and conforming the contractual structure to the fund establishment within the composition of UNICEF. As a result of this important transaction, EOF now performs on a global fund platform; operating as an independent trust fund hosted by UNICEF who provide fund management, legal, procurement and administrative services to EOF.
  • Impact Bonds: Advising the British Asian Trust – a charity set up by the Prince of Wales – on the legal and structuring aspects of an $11m impact bond, which aims to improve the literacy and numeracy learning standards of approximately 300,000 primary school students from marginalized communities in the state of Gujarat, Uttar Pradesh and the National Capital Region in India.
  • Microfinance: Advised Five Talents, the microfinance arm of the Church of England that provides innovative savings schemes, small loans and business training for the poor on sustainable funding models that could be applied in funding their projects in Africa.
  • Impact Funds: Provided structural and tax advice on the setting up of the US entity of Willow Impact Investors, an award-winning impact investment firm that manages social impact funds with a focus on Eastern Africa, the Middle East and North Africa.
  • Infrastructure – Water Sanitation: Implemented a five-year, $362 million compact with the Government of Lesotho to fund the rehabilitation of the Metolong Dam, as well as work with PEPFAR (the President’s Emergency Plan for AIDS Relief) to mitigate the negative economic impacts of poor maternal health, HIV/AIDS and tuberculosis; this involved representation of the government of Lesotho in an EPC contract for the rehabilitation of the Metolong Dam.
  • Infrastructure – Markets: Implemented a five-year, $295 million compact with the Government of Georgia to rehabilitate regional infrastructure, accelerate enterprise development, and increase access to jobs and markets.
  • Infrastructure – Roads and Transportation: Implemented a $540 million compact with the Republic of Senegal, investing in the road network and essential irrigation schemes in the Senegal River Valley and the Casamance region to align to the country’s comprehensive long-term objectives of enhancing national growth and food security; this involved representation of the government of Senegal in an EPC contract for roads in that country.
  • Investment Funds: Advised various Alternative Investment Fund Managers on the structuring and implementation of sustainable Alternative Investment Funds under the European Union Sustainable Finance Disclosure Regulation and Taxonomy Regulation.
  • Private Equity: Represented a leading pan-African private equity firm, along with its investment partners, in connection with a $3.1 billion equity and debt financing for IHS Towers, Africa’s leading African telecoms infrastructure business, recognized as Africa Investor’s “African Infrastructure ICT Project Developer of the Year 2015.” This investment included the implementation of the private equity firm’s ESG management system, which follows World Bank standards and International Finance Corporation performance standards.
  • Agriculture: Implemented a five-year, $461 million compact with the Government of Mali to improve agricultural production and expand access to markets, as a result of key infrastructure investments in the Bamako-Sénou International Airport, gateway for regional and international trade, and the Niger River, for irrigated agriculture; this involved representation of the government of Mali in an EPC contract for the Bamako-Sénou.
  • Access to Energy: Advised on the White House’s Power Africa Initiative, a US government-led impact investing and social enterprise program to increase at risk populations in Africa’s access to energy generation (both on and off grid), transmission and distribution that has resulted in the completion of more than 80 projects worth over $14 billion.

People


A diverse, global network of industry-leading talent committed to you and your vision.

Key Contacts


David A. Cifrino

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Carl J. Fleming

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Ranajoy Basu

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Rami Turayhi

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ESG, Impact & Sustainability

Insights & Events / Media

Webinar / McDermott Event / September 28 & 30, 2021

Oxford, United Kingdom / Speaking Engagements / September 8, 2021

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