The Legal 500 Green Guide: Asia Pacific 2025

In a landmark mandate, the capital markets team acted for broadband network operator NBN Co on its €1.35bn debut European green bonds issuance. The deal, which supports the client’s development of green and energy-efficient projects, sets a precedent for Australian government enterprises to attract sustainability-minded European investors for their green ambitions.

Supporting the decarbonisation of Australia’s shipping hubs, the real estate finance team advised the Port of Melbourne on its inaugural AUD475m sustainability-linked loan. The team was key in negotiating and developing the facility’s sustainability-linked provisions, which relate not only to the abatement of scopes 1 and 2 emissions, but also to the reduction of scope 3 emissions through stakeholder engagement. In another key green real estate finance deal, the team advised Mizuho Bank and the lenders on the JPY52bn sustainability-linked samurai loan to Frasers Property Australia.

Projects and energy specialist Goran Galic leads the firm’s regional advice on landmark green hydrogen and carbon capture and storage mandates. Galic makes a truly global contribution to the firm’s thought leadership offering, speaking on panels on how to de-risk Australia’s CCS value chain, authoring insights on topics including Asia’s renewable energy future, and contributing to global reports such as a series on how to meet the global net-zero financing gap.

As part of its responsible business programme, the firm developed an environmental sustainability strategy focused on making a transformative impact on its climate footprint. Working toward its verified science-based target of reducing scopes 1, 2, and 3 emissions by 50% by 2030, the firm is currently improving its data-based measuring and reduction strategies across its real estate, business travel, and supply chain emissions.

China

In China, A&O Shearman is a key advisor to lenders in high-value green and sustainable finance mandates which support the development of major energy transition projects.

A key contact in the green and sustainable finance space is Yvonne Ho, who acted for China Construction Bank as lender in a $1.2bn sustainability-linked loan to China Solar Energy Investment Limited. The financing is a leading deal within China’s syndicated sustainable finance market and makes a key contribution to the growth of the country’s solar power segment.

Also on the lender side of green finance deals, the team advised DBS Bank Hong Kong on a $297m green loan to China Three Gorges South Asia Investment Limited to refinance its renewable energy acquisitions in Jordan and Egypt. As a landmark green loan refinancing, the deal demonstrates the firm’s ability to support leading Chinese investors in financing sustainable development across the region.

In a HKD5.6bn mandate, the firm acted for a global financial services provider in a sustainability-linked financing to steel enterprise Shagang Group. The transaction is a landmark offshore sustainability-linked loan in the Chinese steel sector and evidences the utility of green financing provisions to support sustainable development in the manufacturing sector.

To further aid clients in building their green expertise, the firm offers ESG trainings and a carbon- and climate-focused finance academy for in-house legal teams.

As part of its responsible business programme, the firm developed an environmental sustainability strategy focused on climate change and decarbonisation. Pursuing its science-based target to reduce scopes 1, 2, and 3 emissions by 50% by 2030, the firm is focused on improving its carbon data and reporting, rationalising its business travel, decarbonising its real estate, and boosting internal engagement and buy-in. The firm reports its environmental performance to CDP, helping promote a transparent approach to decarbonisation initiatives in the business community.

Hong Kong

With a particular specialism advising clients on green M&A, finance, and capital markets deals, the Hong Kong office of A&O Shearman makes a leading contribution as part of the firm’s multi-disciplinary global ESG steering committee.

In a $5.5bn mandate, the team advised Deutsche Bank, as PIPE placement agent to Lotus Technology, and Santander, as the capital markets advisor to L Catterton Asia Acquisition Corp, in the business combination between Lotus and L Catterton. Proceeds from the combination will support further innovation in the battery electric vehicle sector, helping incentive the adoption of luxury EVs globally.

For the joint venture between real asset manager ESR Group and property developer Chinachem group, the debt finance team advised on a HKD8.8bn green loan to develop and operate a cold storage and logistics facility in Hong Kong. With the project among the largest to be built in the city this century, the deal evidences how the inclusion of green KPIs can help the logistics sector access attractive financing while helping deliver on global climate goals.

In a landmark mandate, ESG bond specialist Jaclyn Yeap acted for the joint lead managers on the Bank of China Luxembourg branch’s €300m notes issuance. The mandate, which is a novel example of a financial institution offering a green transition bond specific to the steel sector, helps leverage a major bank’s transition financing appetite to help decarbonise steel projects in Hebei province.

As part of its global responsible business programme, the firm’s environmental sustainability strategy makes a focused contribution to limit its operational impact on climate change. In pursuit of its science-based target to reduce scopes 1, 2, and 3 emissions by 50% by 2030, the firm is working to map its real estate, business travel, and supply chain emissions and utilise this data to build a targeted decarbonisation pathway.

Japan

In Japan, A&O Shearman has built strong expertise in project finance mandates, representing major commercial and development banks on high-value deals which support the growth of innovative and landmark clean energy projects.

Scott Neilson acts for leading banks in financing energy transition projects across emerging economies, with a key client being the Japan International Cooperation Agency (JICA). Supporting the growth of renewable energy across the global South, Neilson advised JICA on the $94m joint financing of the construction and operation of a 500 MW wind farm in Uzbekistan and on the $1.1bn joint financing of the 500 MW Kom Ombo solar plant in Egypt.

In a £523m mandate, green energy projects powerhouse Xue Wang acted for the Japan Bank for International Cooperation on the financing of an electricity transmission link which will connect the 857 MW Triton Knoll offshore wind farm to the UK grid. This supports the client in expanding its global presence in renewable power financings and makes a key contribution to reinforcing the UK’s capacity for clean electricity.

Cross-office global hydrogen interest group co-founder and Tokyo managing partner Matthias Voss is a key contact for energy transition deals. In a $1.4bn transaction, Voss led a global projects team in advising the lenders on an ECA financing to CSN Mineração, which will enable the construction of an iron ore pellet feed production plant in Brazil. With pellet feed compatible with low-carbon steelmaking technologies like electric furnaces, the financing supports the steel sector in its transition to create fossil fuel-free green steel.

As a key part of its responsible business programme, and in pursuit of its verified science-based target to reduce its scopes 1, 2, and 3 emissions by 50% by 2030, the firm introduced an environmental sustainability strategy which focuses on minimising its climate and carbon footprint. The firm reports its progress against this strategy to CDP.

Singapore

A&O Shearman in Singapore often advises clients on pioneering renewables projects and stands out for its engagement in the green financing space.

Notably, in a recent matter, the team in Singapore advised the joint lead managers in connection with the CNY 2.5bn 3.00% green notes due 2025 issued by Industrial and Commercial Bank of China Limited as part of a multi-branch carbon-neutrality-themed bonds issuance. The proceeds from the issuance will be utilised to finance or refinance eligible green assets that promote environmental protection, sustainable economic development, and combat climate change. In another highlight, the team assisted the lenders with a five-year $550m multicurrency unfunded green letter of credit facility for Vena Energy, the proceeds of which will be used to support eligible projects intended to contribute to two main environmental objectives: climate change mitigation, and pollution prevention and control.

Key individual Jessica Lee is experienced in a broad range of financing transactions, including in the green and sustainability-linked spaces. Prakash Segaran often advises lenders and borrowers on a wide variety of debt transactions with a particular focus on ESG, green, and sustainability-linked loans. Kok Jin Ong’s practice lies in the energy and infrastructure sectors, having recently been heavily involved in energy transition work.

Globally, the firm’s environmental sustainability strategy focuses on climate change and decarbonisation, supported by its science based target of reducing its scope 1, 2, and 3 emissions by 50% by 2030, compared to a 2019 baseline.

South Korea

The South Korea office of A&O Shearman makes a leading contribution within the firm’s global ESG steering committee, acting for major corporate players in the financing and development of renewable energy projects.

A key contact is projects and finance powerhouse Henry Sohn, who assists clients across the financing, development, construction, operation, sale, and acquisition of renewable energy projects. In a £367m transaction, Sohn advised leading monopile manufacturer SeAH Wind on the financing for the construction of a wind monopile manufacturing facility on Teesside in the UK. As the largest such facility in the world, and the first in the UK to serve the offshore wind segment, the transaction is vital in scaling-up the construction, development and operation of renewable power projects in the UK.

For major client SK E&S, the projects team assisted in the drafting and negotiation of O&M contracts for the 99 MW Jeonnam offshore wind farm. The mandate is key to realising a strategically important renewable energy project and augmenting the clean power delivered to the South Korean grid.

The firm is committed to providing clients with targeted to support to assist in their sustainability journeys, offering ESG training at the board level and specialised ESG, climate change, and carbon legal training for in-house counsel within its finance academy.

Through its responsible business programme, the firm developed an environmental sustainability strategy dedicated to leaving a positive impact which mitigates against climate change and decarbonisation. To help meet its science-based target to reduce scopes 1, 2, and 3 emissions by 50% by 2030, the firm is implementing data-based reduction programmes across its real estate, business travel, and supply chain emissions. Encouraging the transparent monitoring of emission data, the firm also submits to environmental disclosure body CDP.

Thailand

In Thailand, A&O Shearman is well versed in acting for lenders and borrowers on high-value and impactful sustainable and low-carbon financing mandates.

A key client is the Asian Development Bank, whom green transition financing expert Sarah Wilson acted for on its THB2.4bn loan to energy company Banpu. The borrower will utilise the financing to acquire 1500 e-tuk-tuks and charging stations to operate micro-scale transit services in Bangkok and to expand its 1.3 GWh lithium-ion electric vehicle battery manufacturing facility in Jiangsu province, China. The deal is key to the growth of micromobility solutions across the region since the client also commits to providing the borrower with technical assistance to assess the potential to expand micro-scale transit services across Southeast Asia.

The banking team acted for the lead arrangers and bookrunners on a THB11.485bn sustainability-linked loan to seafood company Thai Union Group, supporting the borrower in its blue finance objective to have sustainability-linked loans meet 75% of its long-term financing by 2025. The loan incorporates KPIs focused on the borrower’s ESG performance, its progress against its science-based emissions reduction targets, and the delivery of sustainable fisheries and responsible aquaculture programmes.

Demonstrating its leading position in acting for domestic borrowers on green financings, the firm also represented retail property developer Central Pattana on its JPY37bn sustainability-linked loan. The transaction incentivises the client, among Thailand’s leading conglomerates, in meeting its established sustainability targets across energy, water, waste, and biodiversity management.

Thailand-based lawyers make an important contribution to the firm’s global sustainability thought leadership offering, co-authoring articles and reports on topics including the potential for offshore wind developments in emerging Asian markets. Wilson also moderated an Asian Development Bank-led roundtable on how to boost renewable energy investment in Laos, navigating how the bank can help redress political and economic constraints in the market.

A leading client is renewable power producer BrightNight Philippines Services Corporation, whom corporate and banking expert Judith Ann Alejo acted for in the formation of a joint venture with clean energy company ACEN Corporation to develop and construct a 1 GW portfolio of renewable projects in the Philippines. Supporting the client in pursuing the Philippines’ goal to promote the adoption of renewable energy sources, the firm assisted in drafting and negotiating the transaction documents.

Helping catalyse the growth of the Philippines’ solar power sector, the team advised Singaporean sustainable infrastructure financing platform Pentagreen Capital Assets on providing a mezzanine financing for the construction of Citicore Solar Energy Corporation’s PV portfolio. Within the mandate, which pursues the client’s purpose to boost green infrastructure across Southeast Asia, the firm negotiated the transaction documents, reviewed compliance risks, and conducted legal due diligence on the borrower.

The banking team also assisted major client the Philippines National Bank in the financing to Philnew Hydro Power Corporation to develop run-of-river hydroelectric plants in Tumauini, Isabela, and Clarin. Acting as the lender’s counsel, it performed legal due diligence on the borrower and advised on the whole suite of transaction documents.

Notably, in a multijurisdictional matter, the Singapore team, in collaboration with the Denmark team, is advising Equis as lead project counsel on the construction of the Anma Do offshore wind farm in South Korea, a 500MW project that will generate enough renewable energy to power circa 550,000 households. The team is also assisting Copenhagen Merchants on multiple long-term biomass trading contracts for offtake from suppliers in Vietnam and Indonesia. Additionally, the firm has experience advising clients on the implications surrounding the Singapore Carbon Tax.

Key individual Ivan Chia is the firm’s Asia Pacific head of renewables and often advises clients on large scale offshore and onshore wind projects as well as on solar and biomass projects, and PPAs. Other key individual Russell Quek focuses his practice on climate change work with strong expertise in connection with carbon dioxide removal.

Globally, the firm is a part of the UN Global Compact.

Notably, the firm recently advised The Monetary Authority of Singapore on the re-opening issuance of $2.8bn fixed rate bonds, which are Singapore’s sovereign green bonds and form part of the pipeline of up to $35bn of sovereign and public sector green bonds that the government will issue by 2030. Proceeds from the bonds will be used to finance expenditures in support of the Singapore Green Plan 2030.

In another recent matter, the firm assisted United Overseas Bank on the $400m committed revolving green loan facilities to Seatrium group. The facilities, underpinned by green loan principles, support the client’s business growth in the offshore renewables space through financing green and sustainable projects, bolstering sustainable development in the offshore and marine sectors.

Climate Impact X is seeking the firm’s advice on the regulatory implications of carbon credits marketplace business and carbon credit related products and services in Singapore.

In response to rapid developments in the ESG space in Singapore, the firm recently launched an ESG and public policy practice, which is co-headed by Adrian Ang, Elsa Chang, Lee Kee Yeng, and Sophie Lim.

Further demonstrating its expertise, the team often publishes its thought leadership. For example, Ang and Tay Yong Seng recently authored a paper on voluntary carbon credits alongside GenZero, an investment platform company dedicated to accelerating decarbonisation.

In a NZD500m mandate, climate change team member and energy project specialist Anton Trixl advised NZ Windfarms on the establishment of its joint venture with Meridian Energy to replace the existing turbines at the Te Rere Hau wind farm and boost its generation capacity from 45.5 MW to 170 MW. For the project, which sets a novel precedent for repowering and augmenting a domestic wind farm, the team advised on the joint venture process across development negotiations, transactional agreements, and power offtake matters.

For electric utility and ongoing client Mercury NZ, the energy team is advising on all procurement matters for the Kaiwera Downs wind farm, comprising the supply and installation of the wind turbines, foundation design agreements, and the construction and transmission contracts. Following its work on the investment and completion of phase 1 of the farm’s development, the team recently advised on phase 2’s final investment decision and is currently assisting the client in project development matters.

Demonstrating its expertise in sustainability-related financing matters, the banking team acted for ASB Bank regarding the provision of a sustainability-linked loan to major state-owned pastoral farming enterprise Landcorp Farming, which will finance its ambitions to decrease greenhouse gas emissions and improve climate resilience.

Having been certified by Toitū as carbon zero since 2020, the firm is pursuing data-driven emissions reductions to help realise its target, made as a member of the Climate Leaders Coalition, of a 46% reduction in emissions by 2030. To make a difference within the local community, the firm maintains a partnership with conservation charity Trees That Count, with its donations supporting the planting of over 2000 trees each year.

In a recent mandate, the team advised Tata Steel Limited on one of the largest captive power projects in India. The project, which will have a hybrid renewable capacity of 379 MW of solar and 587 MW of wind power, is expected to save up to 23,89,160 tonnes of CO2 emissions annually.

In the waste management space, the team acted for Dalmia Polypro Industries Private Limited on a financing of $30m acquired from the United States International Development Finance Corporation. The loan will be used to establish a new greenfield recycling facility capable of processing 171,000 metric tonnes of plastic each year.

The firm has also launched a tree planting initiative, working with organisations and community members across its office locations – Mumbai, Delhi, Bengaluru and Kolkata – and aiming to improve air quality and biodiversity.

Additionally, the firm recently launched Argus Talks, providing a space to discuss and raise awareness of various legal issues, including sustainability, regulatory changes and corporate governance.

Banking, finance, and projects team head Kanya Satwika represented leading renewables player PT Barito Wind Energy in its $102.2m acquisition of the 75 MW operational Sidrap wind farm from UPC Renewables. The team also represented PT Barito Renewables Energy in the $12.6m acquisition of a 51% stake in the 320 MW-total South Sulawesi, Sukabumi, and Lombok wind development projects. The transactions make a key contribution to Indonesia’s clean energy future by reassuring the development and operation of key wind power projects.

A major client is state-owned infrastructure investor PT Sarana Multi Infrastruktur, whom the firm acted for in its $700m inaugural sustainability-linked syndicated term loan facility. The financing helps the client expand its sustainable finance portfolio and provide further staff with ESG training, supporting its journey to propel green infrastructure growth.

The capital markets team acted for the Government of Indonesia’s Ministry of Finance in its IDR3.3tn green retail sukuk issuance. Helping boost green national spending, the issuance will finance the government’s commitment to reduce the impact of climate change and support environmentally friendly projects.

As part of its pledge to support and strengthen sustainable practices, particularly regarding waste management, the firm is implementing a comprehensive recycling initiative, educating its employees on waste sorting, and encouraging a no-printing policy in its office. The firm has also partnered with Greenpeace Indonesia, the US Department of State, the Indonesian Ministry of Environment and Forestry, and the Indonesian Meteorology, Climatology, and Geophysics Council to install an air pollution monitor in its office in order to boost data collection regarding Jakarta’s air quality.

Sustainability officer and senior partner Miho Niunoya is a leading authority on renewable energy project finance and transactional mandates. Niunoya complements her advice for major clients with a notable energy sector thought leadership presence, having co-authored insights into topics including carbon capture and storage commercialisation trends, the government hydrogen strategy, and the hydrogen promotion bill and CCS business bill. Renewable energy expert Daniel Jarrett, a highly sought-after advisor and thought leader on emerging green technologies, is a key member of the projects team which provides clients these insights through regular newsletters.

In order to support sustainability initiatives which boost leadership and experience-sharing within the business community, the firm is a member of the Japan Climate Leaders Partnership, the Japanese Impact Consortium, and the Green Finance Network Japan. The firm participates within the Taskforce on Climate-related Financial Disclosures, where it provides legal support to promote discussions on effective corporate disclosure of climate-related information.

Through its internal sustainability committee, the firm promotes action and engagement to reduce its energy and environmental impact. To guide its energy-saving internal initiatives, the firm joined the METI-led GX League, through which it established a transition strategy to reduce its CO2 emissions by 25% by 2030. Keen to promote transparency on this journey, the firm released its first sustainability report in 2024.

The finance and projects team acted for United Overseas Bank as the mandated lead arrangers and bookrunners in a $700m sustainability-linked syndicated loan facility to state-owned infrastructure finance vehicle PT Sarana Multi Infrastruktur. Notable for being its first sustainability-linked loan, the landmark financing will help the borrower fund the development of sustainable infrastructure projects in Indonesia and provide ESG training to its staff.

The firm offers Indonesian clients broad thought leadership in the ESG space, including webinars on the regional implications of the EU Corporate Sustainability Due Diligence Directive, updates on sustainable business opportunities, and insights into ESG reporting and disclosure requirements.

As a UN Global Compact member, the firm is committed to a transparent sustainability reporting programme. In 2023, alongside releasing a sustainability report to demonstrate its progress against its prioritised UN Sustainable Development Goals, the firm also submitted to EcoVadis, receiving a silver accreditation, and CDP, earning a B grade. To build on these ratings and bolster its ecological performance, the firm developed a proprietary bGreen global environmental management system.

Japan

The Japan office of Net Zero Lawyers Alliance founding member Baker McKenzie offers clients a multi-disciplinary sustainability solution which provides important expertise concerning renewable energy projects, emissions trading matters, and carbon capture and storage policy and regulation.

A key ongoing client for the projects and finance team is the Goto Floating Wind Farm consortium, which won Japan’s first offshore wind auction. The firm has advised across all contract drafting, government engagement, and contentious matters ahead of the plant’s commercial operation. Through the deal, the firm helps set a vastly significant legal precedent regarding contracting and auction structuring for the Japanese offshore wind sector, facilitating the segment’s smooth growth through future bidding rounds.

Demonstrating its key contribution to thought leadership concerning the legal and regulatory regimes surrounding carbon capture and storage, the firm contributed to the Global CCS Institute’s 2023 legal and regulatory indicator. To help further build sustainability best practice within the business community, the firm is also an active member of the International Emissions Trading Association, participating in the organisation’s working groups and roundtables, and hosts client events on topics including the extra-territorial impact of the EU Corporate Sustainability Due Diligence Directive.

As a UN Global Compact member, the firm places a key emphasis on transparent and accountable carbon reduction measures and reports its environmental performance to EcoVadis and CDP. It follows a sustainability strategy – which sets out measurable emissions targets, objectives, and reporting structures – in order to achieve its goal of reducing scopes 1 and 2 emissions by 92% by 2030.

Thailand

The sustainability practice at Baker McKenzie LLP in Thailand is a key authority on renewable energy and carbon mitigation projects, assisting on nationally significant transactions which pursue the country’s climate goals.

A key contact is sustainability practice head Peerapan Tungsuwan, who complements her expertise on sustainability and carbon projects with a leading contribution to thought leadership concerning national environmental legislation, clean air and climate change bills, and the impact of the Carbon Border Adjustment Mechanism on Thai exporters.

Helping promote the renewable energy sector in the ASEAN region, sustainability group member and solar power specialist Bulin Sanooj is leading a cross-office team in advising Hong Kong-based renewables investor Super Energy Group in the approximately $165m sale of a 49% interest in Vietnam-based PV operator Solar NT Holdings. Within the joint venture, the parties will allocate the rights and benefits of the carbon credits corresponding to the solar projects, with the firm also advising the client on Vietnam’s carbon credit regulations and all potential tax implications.

A corporate team is assisting sustainability software developer Vekin in its Memorandum of Understanding with the Thailand Greenhouse Gas Management Organisation, from which the parties will together build a first-of-its-kind national data platform for carbon footprint projects. Enabling leading domestic companies to pursue their additional emission mitigation goals while supporting purpose-driven Thai enterprises, the platform will allow corporates to trade in carbon credits generated against carbon dioxide and methane reduction programmes undertaken by SMEs.

In 2023, the Bangkok office received the Climate Action Leading Organisation award from the Thailand Carbon Neutral Network, attesting to its leadership in managing and mitigating its operational greenhouse gas emissions and to its market-leading efforts as a business in pursuing Thailand’s carbon reduction objectives.

Climate and ESG-focused banking and finance specialist Zac Kedgley-Foot continues to advise the Energy Efficiency and Conservation Authority on major industrial emissions reduction projects. Having assisted the client on its NZD140m funding agreement to support New Zealand Steel in building and operating an electric arc furnace to replace the use of coal within its Glenbrook steel mill, the team also advised the authority on its NZD90m partnership with leading dairy company Fonterra to cut coal usage across six of its manufacturing sites. The partnership is set to halve the company’s manufacturing emissions by 2030 and is a key example of the client’s aim to accelerate the decarbonisation of New Zealand’s economy.

A key contact on corporate climate-related regulatory and compliance issues is Richard Massey, who advises major financial sector organisations on their obligations, as climate reporting entities, to publish ESG- and climate-related disclosures. He advises management teams and boards on these emerging obligations and on how climate-related risks should be conceptualised under directors’ duties.

Environmental expert Natasha Garvan is representing the partnership between Auckland Transport and Waka Kotahi NZ Transport Agency on route protection matters across Auckland’s transportation network. Since abating transport emissions is key to New Zealand’s climate change response, the team has acted for the client regarding the application of domestic climate change policy and helped develop an intervention framework which enables the integration of climate considerations throughout the route protection process.

An environmental sustainability committee is pursuing the footprint reduction strategies required under the firm’s participation in Toitū’s carbonreduce programme. As part of the programme, the committee is building partnerships with sustainable suppliers and improving resource efficiency to help minimise its waste output.

Long-time projects powerhouse Jason Welsh has significant expertise advising major power generators on development, compliance, and legislative matters for renewable energy facilities. He is acting for Manawa Energy in connection with its pipeline of renewable energy projects, including assisting on proposals for its five pre-application wind farms. The projects team also advised the client on consenting for its 28 MW Argyle 1 Solar Farm and is currently assisting in consenting for the 37 MW Argyle 2 farm.

Further demonstrating its expertise in the wind power sector, the firm is advising key ongoing client Mercury Energy on ecological issues and stakeholder negotiations for the 73 MW Kaiwaikawe wind farm and on resource consents for stage two of the Kaiwera Downs wind farm.

Acting on a nationally significant renewables project which will make a leading contribution to New Zealand’s clean energy capacity, the team is advising Lochindorb Wind, a partnership between leading power companies Manawa Energy and Pioneer Energy, on project scoping and assessment matters for the 300 MW Kahiku wind farm.

The firm’s lawyers are thought leaders on how to best progress the green transition through environment and resource management law and were recently invited to present on how to best enable renewable energy investments through planning reform at Brightstar’s Environmental Policy & Law Reform conference.

Through its sustainability policy, the firm implements targeted and practical efforts to reduce its environmental impact, focusing on purchasing green, reducing waste, adopting more conscious travel, and fostering an eco-friendly internal culture. It also partners with climate-certified electricity provider Ecotricity to ensure it consumes only renewable and sustainable power.

In a $3.4bn mandate, co-managing partner and project finance expert Jessada Sawatdipong acted for a group of syndicated lenders in financing the 1460 MW Luang Prabang hydropower project. Within the deal, which was a novel example of a large-scale investment by Thai sponsors in Laos’ hydroelectric sector, the team drafted and negotiated the financing terms and conducted legal due diligence on the borrower.

A further key client is the Siam Commercial Bank, whom the banking team is representing as lender on a project financing to Thachang Green Energy regarding a 30 MW waste-to-energy plant portfolio. The deal makes a notable contribution toward Thailand’s goal to lower greenhouse gas emissions, since the projects will reduce the volume of waste in landfills and instead utilise it to generate low-carbon energy.

Joseph Tisuthiwongse, a key contact on banking, financing, and capital markets matters within the power sector, advised energy producer B.Grimm Power on its issuance of $150m green and sustainability-linked bonds. Leveraging the firm’s leading understanding of green and sustainability-linked bond matters, the transaction was notable in the market for being a dollar-denominated thematic bond specifically issued for foreign investors.

As a UN Global Compact member, the firm places a key emphasis on continuously improving its conduct concerning corporate sustainability and social responsibility. As part of its commitment to partner with organisations which help reduce local climate impacts, it participated in a mangrove restoration initiative in Samut Songkram province. The partnership supports local communities in maintaining a crucial natural defence against rising sea levels and biodiversity loss.

A key client is Lodestone Energy, whom renewable energy transactions expert Lauren Curtayne advised on the acquisition of development rights in nine solar projects in New Zealand. The team assisted the client from negotiating the sale and purchase agreement through to transaction completion, providing valuable support in enabling the development of an important solar power portfolio.

Alana Lampitt, a leading advisor to high-emitting clients on their green transition projects, led a cross-practice team in advising NZ Steel regarding an NZD140m investment from the Energy Efficiency and Conservation Authority to finance the building of an electric arc furnace which will decarbonise steel production at its Glenbrook mill. The firm assisted on funding agreements, environmental consenting processes, and regulatory matters concerning the project’s participation in the emissions trading scheme, which will help ease the refinery’s commercial transition.

The firm makes a key contribution through pro bono mandates to international climate law matters. The firm serves as lead coordinating counsel to the Commission of Small Island States in its request to the Inter-American Court of Human Rights for an advisory opinion on states’ obligations regarding climate change. The team also acts for Legal Response International on matters concerning the Paris Agreement, including advising on the legality of the establishment of the Loss & Damage Fund.

Keen to share its knowledge within the business community, the firm is an ESG thought leader, having published a report into how ESG reporting and sustainability trade measures impact domestic exporters, and co-authored a legal opinion into how retirement funds could better pursue ESG objectives.

A key individual is APAC ESG board chair and renewables transactional specialist Nadia Kalic, who represented BlackRock’s Climate Finance Partnership on its investment in Southeast Asian renewable energy developer Ditrolic Energy Holdings to help realise a 1 GW solar project pipeline across the region. The mandate, within which the firm provided cross-border corporate and financial advice, demonstrates how blended finance can mobilise capital to catalyse green infrastructure development in emerging markets.

For the Elanora Offshore consortium, a cross-practice corporate and financial markets team is advising on investor agreements and feasibility licences regarding a 5 GW offshore wind farm on the Bass Strait. Showcasing the firm’s ability to advise on large-scale renewable energy projects, the team assisted the client, a group of leading offshore wind developers and financiers, on structuring, financing, and regulatory matters.

A cross-office team also acted for green real assets developer and operator AGP Partners on a major strategic investment from infrastructure-focused alternative investment firm Stonepeak. The deal supports the client in its objective to realise a sustainable and net zero-emission built environment by raising crucial capital for its renewable energy, social housing, and logistics verticals.

The firm is positioning itself as a trusted advisor to climate-aligned clients on their emerging sustainability challenges, having designed a climate change policy to transition its business away from client matters which have the potential for an adverse climate impact and which do not feature appropriate mitigation plans. Additionally, the firm supports clients on novel green topics through its thought leadership offering, with Australia-based teams sharing insights such as how company directors can mitigate against nature-based risks.

Hong Kong

Making a key contribution to the firm’s global ESG client offering, the Hong Kong office of Clifford Chance helps global clients navigate key opportunities in the green financial markets space.

In a cross-border mandate, APAC and global ESG board member David Tsai advised the Hong Kong, DIFC, and Luxembourg branches of China Construction Bank on their respective $500m, $600m, and €300m green notes issuances. The complex and high-value issuance programme makes a significant contribution to the scale of local green finance markets and consequentially establishes an important precedent for China-headquartered banks to leverage global green finance appetites to pursue their sustainable investing objectives.

Acting for the Bank of China and HSBC as joint lead managers, the global financial markets team advised on the Hong Kong SAR Government’s HKD20bn retail green bond issuance. The issuance, as part of the government’s ongoing commitment to develop Hong Kong’s green capital markets landscape and become a leading sustainable finance centre, allows retail investors to acquire stable debt that simultaneously pursues the city’s green objectives.

Key to the firm’s thought leadership offering is its APAC ESG Perspectives webinar series, which supports clients in remaining ahead on vital green topics which impact business strategy. From Hong Kong, the firm regularly publishes sustainability-related thought leadership on significant regional matters, including on how clients across Greater China can engage with the regulatory requirements of the China Certified Emission Reduction scheme.

The firm’s legal advice is guided by its climate change policy, which is spearheading efforts to pivot client work away from matters which may leave an adverse climate impact and which lack appropriate safeguards. Helping complement these efforts with a change in its operational footprint, the firm introduced a responsible business strategy and environment board to guide its journey to reach net zero by 2030.

In a key climate law case, Asia Pacific energy sector head Stephen Webb is providing pro bono representation to the government of Timor-Leste before the International Tribunal for the Law of the Sea. Seeking an advisory opinion on states’ obligations regarding climate change and the marine environment, the mandate leverages targeted climate litigation in order to overcome how small island developing states lack the financial and diplomatic power to redress the global factors underpinning their uneven exposure to climate change.

Also in the climate litigation space, the team is representing Timor-Leste in seeking a climate change advisory opinion from the International Court of Justice, which is set to produce landmark findings regarding the rights and obligations of states to protect the environment against the impact of anthropogenic climate change, increase diplomacy and discourse regarding international climate litigation, and tighten domestic regulatory pressures on carbon matters.

Australian head of renewables Chris Mitchell is a leading advisor to project companies in the offshore wind segment and heads the team assisting offshore wind developer BlueFloat Energy and electricity generator and retailer Origin Energy with project and transaction structuring, funding arrangements, and development and tax matters concerning their joint venture to develop the 1.725 GW Eastern Rise offshore wind project.

Establishing the firm’s commitment to being a sustainability thought leader, Australian teams moderate various panels in the wind power sector and recently hosted specific seminars on the role of Australia’s critical minerals industry in enabling the green transition and on how in-house legal teams can best manage mandatory climate reporting obligations.

New Zealand

Net Zero Lawyers Alliance member DLA Piper New Zealand makes a notable commitment to the energy transition, acting for specialist green investment platforms on innovative and impactful transactions.

Renewable energy financing specialist Rachel Brown represented renewables platform Aquila Clean Energy APAC on the receipt of debt facilities from Westpac New Zealand for its project financing of a 180 MW solar portfolio. The mandate demonstrates the team’s skill within novel renewables sector transactions, with the client’s provision of project financing serving as a landmark non-recourse solar portfolio financing by a foreign investor into New Zealand.

A key client is national green investment bank New Zealand Green Investment Finance, whom the team advised regarding its NZD170m financing package to solar provider solarZero. Within the deal, which was certified by the Climate Bonds Initiative, the client attracted NZD90m of private capital alongside making an NZD80m commitment itself, helping the borrower to accelerate solar access across New Zealand.

The team also acted for New Zealand Green Investment Finance regarding its $10m facilities to Cool Group, which will finance the leasing of cooling refrigerant systems to Fronterra’s dairy farmers. The financing provides cooperative members an accessible way to lease hydrofluorocarbon-free milk chilling systems, consequently reducing the impact of the dairy industry on the climate.

The firm also offers insights into the laws and legal frameworks governing the energy transition in New Zealand through its corporate power purchase agreement knowledge hub and global renewable energy guide knowledge hub. New Zealand lawyers co-moderated the firm’s panel session on how international cooperation can boost the sustainability of Australia’s offshore wind supply chain.

To help achieve its global science-based target to reduce emissions by 50% by 2030, the firm is working to switch to entirely renewable electricity and abate 75% of travel emissions and 25% of supply chain emissions by that year.

Singapore

DLA Piper in Singapore often advises clients across APAC in firsts-in-the-region projects that accelerate the green transition.

In an ongoing matter, Singapore office is advising Total Eren and Adaro Power on the development of a 70MW wind farm, equipped with a battery energy storage system of 10MWh in Indonesia. In another current highlight, the team is assisting the Asian Infrastructure Investment Bank and DBS Bank with the financing of a 42.5MW waste-to-energy project power plant in Bangladesh. The firm also recently acted for DBS Bank and other lenders in the financing of a ground mounted and rooftop solar photovoltaic power project portfolio of over 300MW in Singapore developed by Terrenus Energy.

Leading individual Vincent Seah has particularly strong experience in advising on the development and financing of energy transition power projects across Asia.

Globally, the firm is a part of the Net Zero Lawyers Alliance, the Global Alliance of Impact Lawyers, and the Legal Sustainability Alliance. It has committed to halving its carbon footprint by 2030 against a 2019 baseline.

For asset manager Principal Global Investors, the financial services team assisted on the launch of its Global Sustainable Listed Infrastructure Fund, which will invest in infrastructure targets pursuing the UN Sustainable Development Goals and supporting investee companies as they bolster their ESG characteristics and practices. The firm helped the client navigate ESG regulatory requirements ahead of the fund’s authorisation, following which retail investors can gain exposure to sustainable infrastructure assets.

A major client is Manulife Investment Management, whom the firm advised on the repositioning of an approved pooled investment fund as an ESG fund. The mandate brought complex engagement with the regulatory authority on the novel application of ESG standards, since the product is a landmark example of an ESG fund in the mandatory provident fund market.

In a $250m transaction, the debt capital markets team acted for municipal investment and financing company Guangzhou Industrial Investment Fund Management on its sustainability bonds issuance. This supports the client in financing green projects and promoting sustainable development within the city of Guangzhou.

Within its commitment to implement sustainable best practices internally, the firm has boosted its recycling practices, introduced programmes to incentivise the transition to paperless operations, and partnered with initiatives including the Carbon Neutrality Campaign, which aims to raise education and public engagement on how behavioural changes can catalyse carbon emissions reductions. Following its sustainability efforts, the firm’s office was accredited by Hongkong Land’s Green Operations Recognition Scheme.

Recently, the firm advised ACEN Renewables International on reviewing and drafting transactional documents relating to its equity and bond investment as a sponsor of the Monsoon offshore wind project, which when completed will be one of the largest wind power projects in Southeast Asia.

The team is also assisting Clime Capital with respect to the first close of its second fund, South East Asia Clean Energy Fund II, which received $127m in commitments. The fund will focus on investments which promote climate impact mitigation through CO2 emissions reductions and primary energy savings.

Key individual Timothy Goh heads up the firm’s ESG and sustainable finance practice in Asia. He co-authors the Singapore chapter of the Sustainable Finance Law Review and has led seminars in conjunction with the World Bank Multilateral Investment Guarantee Agency on protecting decarbonisation investments in emerging frontier markets.

A key client is carbon instruments and credits investment fund Carbon Growth Partners, whom the corporate team is assisting on fund structuring, investor, and transactional matters. This supports the client in financially enabling and scaling-up the market surrounding high-integrity carbon credits, helping finance vital emissions reduction and removal activities while economically supporting climate-vulnerable communities.

In a AUD12m mandate, a cross-border team represented Dutch development bank FMO on its Series A consortium investment in renewable energy startup Okra, which works to deploy solar power on rural grids in developing economies including Nigeria and Haiti. The firm’s advice, focused on transaction structuring, due diligence, regulatory compliance, tax and liability implications, and contractual agreements, aids the client’s ambition to allocate capital to tech-enabled companies which support positive innovation.

Crucial to the firm’s sustainability offering is its pro bono programme, which assisted sustainability certification non-profit B Lab in the review of eight key certification standards, helping ensure that certified businesses remain aligned with sustainability best practice. The team also provided pro bono assistance to the Nari Nari tribal council regarding a major biodiversity stewardship agreement, supporting the conservation and protection of 55,000 hectares of wetlands.

To pursue the targets it sets itself as a signatory to the UN Business Ambition for 1.5, the firm developed a sophisticated ESG reporting and carbon accounting system to measure its environmental impact and underpin its emissions abatement activities. To ensure buy-in on its sustainability journey, the firm launched a Green Arrows Network and Million Positive Impacts initiative, which bring together and educate staff to implement green practices and contribute to a sustainable future.

Indonesia

In Indonesia, Dentons HPRP is a leading advisor to clients in their clean energy infrastructure and ESG-oriented matters, demonstrating particular expertise in mandates concerning the development of renewable energy and nature-based solutions.

The energy team is assisting key renewable energy sector client PT Pertamina Power Indonesia in its cooperation agreement with state forestry manager Perum Perhutani to develop nature-based solutions projects in Indonesia. Within the mandate, the firm is analysing the existing legal landscape and developing the agreements necessary to launch REDD nature-based projects which support carbon sequestration and biodiversity management.

The firm is also acting for agro-industrial company PT Dharma Satya Nusantara regarding a $15m green loan provided by the Asian Development Bank. The deal is vital in supporting green considerations within the sector, with the financing granted to develop a sustainable wood processing facility and climate-resilient, community-based agroforestry project in Indonesia.

An important client is renewables player PT Maharaksa Biru Energy, who is engaged in the development of waste-to-energy and climate-focused technologies. The energy team is advising the client across all legal aspects of business development concerning its growing renewable energy operations.

Complementing its projects-focused client advice, the firm offers deep thought leadership into ESG regulatory developments and compliance requirements for the financial services sector.  It bolsters this offering with its ESG global webinar series, which provides insights and practical takeaways on major ESG trends and legal risks for in-house legal teams.

Singapore

Dentons in Singapore has a leading ESG team, which stands out for its work within the sustainable finance space.

In an ongoing multijurisdictional matter, the firm is advising Persero in relation to a multi-lender green project financing with Japan Bank for International Cooperation to finance a range of renewable energy projects in Indonesia. In another highlight, the team worked with Plastic Credits Exchange in setting up the world’s first plastic credit trading exchange in Singapore, which will enable companies to offset their plastic usage by investing in single-use plastic recycling.

In the sustainable real estate area, the team recently assisted UOB with the drafting of a green clause to be incorporated into their lease agreements. This is one of the first green clauses drafted in the region, and will therefore serve as a precedent for other landlords.

Outside of its client work, the team spreads its expertise through its thought leadership, including the publication of a number of articles around COP28 and an ESG webinar programme.

Ipshita Chaturvedi, who sparheaded the ESG practice in Singapore, left the firm post-research in 2024.

Of its corporate sustainability workload, it is currently advising Bombay Burmah Trading Corporation Limited on its ESG framework and helping it to transition from Business Responsibility Reporting (BRR) to Business Responsibility and Sustainability Reporting (BRSR). It has also been guiding MOIL Limited, overseeing and advising on its ESG policies and initiatives, helping to address its greenhouse gas emissions and assisting it with BRSR reporting.

To supplement this, the firm has also gone further in addressing its own carbon footprint, implementing recycling programs, smart tech to increase energy efficiency along with addressing and improving sustainability within its supply chain. It has also partnered with Grow Billion Trees for India’s first virtual legal marathon and has pledged to plant one tree per participant.

The firm also dedicates itsself to inspiring the next generation of lawyers, having recently organised “The Virtual legal marathon on ESG – 24 hour live Research Lab”, which brought together law students to work on environmental research papers, along with the launch of its Planet People Program, a platform through which students and aspiring lawyers can discuss environmental issues, voice their opinions and make plans to tackle climate change together.

Beyond this, it also aims to keep stakeholders and clients up to date with global ESG developments, trends and regulations through its ESG Yearbook, as well as its podcast, which brings together industry leaders to discuss ESG issues. The team regularly contributes to thought leadership through various ESG articles, with expert Sonal Verma standing out for his contributions in this space.

A key contact is Asia ESG lead Roderick Lai, who supports clients in corporate and transactional matters across a broad range of sustainability topics. In an $8m deal, he assisted construction technology start-up Ampd Energy in its Series A extension fundraising and strategic investment. The financing helps accelerate the client’s growth into new markets and expand its offering of battery-powered energy storage systems, which help decarbonise the construction industry by substituting for diesel generators.

The firm has longstanding expertise assisting banks in developing their impactful sustainability-related provisions. For Chong Hing Bank, the team advised on the revision of its in-house banking facilities letters to incorporate green and sustainability-linked loan product elements, which will allow corporate clients to access ESG-related financing products. Another key client is DBS Bank, whom the firm advised on incorporating ESG elements into its trade finance facilities documentation and into its supply chain programme. The bank’s clients are now able to determine financing costs for their own suppliers based on their ESG rankings.

Through its ESG committee, the firm is working to spearhead sustainability initiatives across the region, encouraging and engaging staff in making sustainable choices. These efforts help pursue the firm’s global responsible business strategy, which is anchored around its science-based target to reduce scopes 1, 2, and 3 emissions by 50% by 2030. The firm reports against its decarbonisation progress through CDP and EcoVadis.

Keen to support local charitable initiatives, the firm provides funding to WWF Hong Kong through Wetland Link International, helping finance proactive wetland management programmes which work to restore an open freshwater marsh.

Demonstrating the firm’s expertise in the green sovereign bond space, cross-border capital markets specialist Christine Chen represented the Arab Republic of Egypt on its RMB3.5bn sustainable development panda bond issuance. As a landmark sovereign sustainable development panda bond, the deal is an innovative example of how states can leverage thematic debt issuances and China’s capital markets appetite in order to fund national green projects.

For major client the Asian Infrastructure Investment Bank, the debt capital markets team assisted across a RMB6.5bn series of sustainable development panda bonds issuances. The bonds set a key precedent of how multilateral development banks can raise funds for sustainable development and support climate goals across the Asia Pacific region.

The firm also acted for CMC Capital-operated fund Huawen Clear Energy on a major investment in clean energy equipment manufacturer and EPCIC provider Wison Clear Energy. The team assisted the client, a carbon neutrality-aligned RMB fund which invests in leading industrial companies, in negotiating transaction documents and in the transaction closing.

Within its internal commitment to reduce its adverse impact on the environment, the firm monitors its ESG performance and has introduced measures such as installing energy efficient lighting, reducing disposable goods, and minimising printing and waste paper.

Hong Kong

In Hong Kong, Greater China-based full-service law firm Fangda Partners is a key advisor to major energy clients on their clean power projects. An important contact is energy and infrastructure M&A and investment specialist Joe Zhou, who brings experience advising on solar, wind, and hydropower projects.

A major client is state-owned enterprise Shanghai Industrial Holdings Limited, which maintains a leading renewable energy and environment-focused portfolio. A cross-practice team advised the client on its HKD1.637bn subscription of the exchangeable bonds issued by Canvest, a developer, manager, and operator of waste-to-energy plants. Within the investment, which will enable the two parties to together develop and operate the power plants, the firm assisted across transaction structuring and documentation and in the legal due diligence of the target’s portfolio of over thirty waste-to-energy projects.

Within its commitment to support sustainability-conscious community programmes, the Hong Kong office partnered with the firm’s mainland Greater Bay Area offices to participate in the Shenzhen Bay Charity Walk, encouraging donations for the Mangrove Foundation’s Protect Shenzhen Bay project. The firm’s engagement supported the initiative in raising finance for the preservation of local mangrove wetlands and their unique biodiversity.

Across the Greater China region, the firm places a strong emphasis on boosting its internal ESG performance. Toward this aim, the firm has introduced energy saving measures, reduced disposable goods, and limited printing.

A key contact is founding partner Aris Gulapa, whose experience includes advising the Asian Development Bank on the structuring of a solar facility which will provide power to the North-South Commuter Railway and Metro Manila Subway projects. Gulapa is also well-versed in assisting clients on the EPC contracts of renewable energy projects across the Philippines.

The firm provided solar power sector client Solar Tanauan Corporation legal due diligence regarding the 140 MW Terra Tanauan and Terra Maragondon PV portfolio. Within the mandate, which supports the growth of solar power in the cities of Batangas and Cavite, the firm reviewed the drafting agreements concerning the development, permitting, financing, construction, ownership, and operation of the projects.

In an ongoing matter, the firm is assisting clean energy owner and operator Aboitiz Renewables regarding its participation in the bidding process to become the independent power producer of the Caliraya, Botocan, and Kalayaan hydroelectric power plants. The mandate is significant since it seeks to leverage the ability of the client, among the Philippines’ leading renewable energy companies, to generate the maximum green value from the plant after it is privatised.

In order to reduce its operational carbon footprint, the firm is implementing paper reduction practices, encouraging sustainable business travel, boosting its waste management profile, and minimising the use of single-use plastics.

In a cross-border mandate, key energy sector contact Calvin Ho is advising climate infrastructure investor, owner, and operator Global Renewable Power Company on its proposed acquisition of Envision Energy’s 50% stake in a 242 MW commercial and industrial operating solar portfolio across China. Within the deal, which marks the client’s entrance into China’s fast-growing renewables market, the corporate team advised on transaction structuring, legal due diligence, documentation, negotiation, and regulation.

Within its global ESG insights series, the firm regularly posts thought leadership pertaining to China’s green future. Recent articles include explorations into the legal challenges surrounding digital wind power infrastructure and the extra-territorial impact of ESG disclosure, reporting, and labelling requirements.

On a global level, the firm has set a science-based target to reduce its absolute emissions by 90% by 2040, seeking to achieve this by moving to renewable energy, reducing business travel emissions, and preferring net zero-aligned suppliers. To build transparency in this programme, the firm reports its environmental performance through CDP.

The firm works with staff in Asia to assist in their adoption of lower-carbon travel choices. In addition to its formal reduction strategy, it supports a carbon offset project in Sichuan province which enables low-income rural households to access low-carbon energy sources, providing biogas digesters for cooking, heating, and lighting.

Hong Kong

In Hong Kong, Herbert Smith Freehills offers particular expertise regarding green finance and the energy transition, acting on high-value and impactful matters for clients located across Greater China.

A key energy sector contact is ESG team member Hilary Lau, who acts for major power and industrial clients on energy transition matters. With clients including the China National Petroleum Corporation, Lau is adept at advising on restructuring and transactional mandates which assist major actors through their new energy ambitions.

Crucial to the firm’s green offering is its debt capital markets practice, which regularly advises public and private sector clients on ESG-linked financing options that have sustainable development goals at their heart. Key clients include the Hong Kong Monetary Authority, whom the team acted for on the Hong Kong SAR Government’s HKD20bn retail green bond issuance; and Taizhou Urban Construction and Investment Development Group, whom the firm assisted on its $500m sustainable bonds issuance.

Supporting the firm’s global ESG thought leadership offering, Hong Kong-based lawyers regularly contribute to insights on topics including the energy transition, ESG disclosure requirements, and environmental due diligence.

With a verified science-based target to reduce its absolute emissions by 90% by 2040, the firm is committed to boosting its renewable energy usage, lowering its business travel emissions, and preferring environmentally conscious suppliers. Across Greater China, the firm also makes an additional carbon offset commitment, supporting a Sichuan-based project which provides low-income rural households clean energy alternatives by supplying biogas digesters for cooking, heating, and lighting. The firm reports against its green objectives through the CDP voluntary disclosure platform and through its annual responsible business report.

Singapore

Herbert Smith Freehills LLP in Singapore stands out for its work advising clients on matters that accelerate the green transition in the country – from establishing platforms to facilitate the generation of renewable energy to enabling the import of green energy.

Notably, in an ongoing highlight, the firm is advising BlackRock on its establishment of a Southeast Asia renewable energy platform in Singapore, including the platform’s first investment in up to five large scale solar generation projects in the Philippines with a total capacity of 1GW. The team is also assisting Keppel Infrastructure with the development of infrastructure to generate and import 300MW of green electricity into Singapore from Indonesia, as part of the Energy Market Authority’s tender to import 4GW of low carbon electricity by 2035. The firm is also advising a client on its investment into one of the world’s largest green fuels companies.

Key contact Glynn Cooper heads the firm’s infrastructure practice in Asia, and specialises in renewable energy and waste management matters. Rupert Baker often acts for sponsors and investors in all aspects of project development and financing. Adrian Wong is a specialist energy and infrastructure lawyer with particular experience in project development and project finance.

In June 2024 the firm launched a global ESG tracker to keep clients updated on global ESG regulations and reporting requirements.

Renewable energy and climate change commercial and regulatory law expert Andrew Brookes regularly acts for the Victorian Department of Energy, Environment and Climate Action and its agencies. Helping decarbonise the state’s electricity consumption, Brookes provides ongoing advice on all legal aspects of Victoria’s Energy Innovation Fund programme, which will help commercialise innovative wind, hydrogen, bio-energy, and battery storage projects.

Brooks is also leading the energy team in assisting in contracting, project due diligence, and strategic matters regarding Victoria’s 100 Neighbourhood Batteries programme, which provides grants to install neighbourhood-scale batteries and improve the reliability of intermittent local solar power.

Brooks advised state waste management agency Recycling Victoria on the implementation of its container deposit scheme, which offers a financial incentive to encourage recycling responsibility and consequentially prevent damage to local ecosystems and wildlife. The firm assisted through contract preparation and interpretation and provided strategic advice on the scheme’s implementation.

Another recent key client was Climate Friendly, which supports farming, agriculture, and forestry companies to manage carbon farming projects and to issue and trade the resulting carbon credits. Within the mandate, the team provided legal support on regulatory issues and helped devise trading agreements for the client’s environmental products, which include Australian Carbon Credit Units.

The firm is keen to partner with organisations in the community to help achieve positive climate outcomes. As a corporate member of the Carbon Market Institute, the firm’s lawyers engage with carbon market participants and professionals to help spread best practice and realise a high-integrity carbon marketplace. Additionally, the firm provides pro bono advice to Environmental Justice Australia to help achieve fair and positive environmental outcomes.

The team recently advised the International Finance Corporation on its partnership with Bank of the Philippine Islands in connection with the issuance of a $250m green bond which will support the country’s aim to increase the share of renewables from the current 21% to 35% by 2030 and 50% by 2040. This is the biggest deal IFC has done with a financial institution in the Philippines.

In another highlight, the firm acted for Northland Power and Yushan Energy Company on the development of the 1,022MW Taiwanese offshore wind farm Hai Long, which will play an important role in helping the government of Taiwan achieve its renewable energy target of 15GW of offshore wind to be constructed by 2035.

A global technology company sought the firm’s advice on a novel area of work in the country: the PPAs for imported energy, the associated renewable energy certificates, and other issues relating to energy import.

Singapore-based Andy Ferris stands out for his work in sustainable and social impact finance, and often advises clients on their climate finance investments.

The firm has further shown its commitment to ESG globally, having established an ESG Global Core Team, a Global ESG Board and an ESG alliance. Internally, the firm has a target of net zero GHG emissions by 2050 and additional interim targets for 2030 which have been validated by the Science Based Targets initiative.

In a recent mandate, the firm has been advising Axis Energy Ventures and Pine Valley Holdings Limited on their joint venture, ABC Cleantech,  a partnership which will focus on the development of wind, solar, wind-solar hybrid and renewable energy projects, in support of India’s transition to a greener future.

With experience handling PPAs, the team is currently advising Ashirvad Pipes Private Limited on its agreement with O2 Renewable Energy XXIII Private Limited, whereby O2 Power will provide Ashirvad Pipes Bengaluru with power sourced from its solar plants in Karnataka, with a peak capacity of 16.9 MW.

The firm also assisted Yulu Bikes with a $9m US International Development Finance Corp loan, which will fund the purchase of 20,000 electric bikes to be rented by delivery riders in India, which will work to target congestion and air pollution issues.

In an ongoing RMB16bn mandate, the projects and energy team is acting for power generation group Wuling Power on its cooperation with Asia Wind Power Investment Limited to develop a new energy base project in Heilongjiang province. The firm assisted in compliance, planning, and construction matters for the project, which will develop and utilise wind power to manufacture clean energy components, develop renewables storage solutions, and deploy clean electricity to the grid.

For Guangzhou Yuemaofeng Green Technology, the firm advised on an investment into the carbon neutral Yuexiu Park project. Within the mandate, which supports the delivery of a park focused on low-carbon research and public welfare, the firm advised on carbon neutrality policy, investment strategies, regulatory and commercial hurdles, and project feasibility.

A key contact is environmental and ecological compliance expert Lizhao Wen, who utilises her longstanding legal experience as a director of the China Environment and Resource Law Research Association. ESG expert Guoliang He, who leads the firm’s advice on global ESG regulations and compliance, cooperated with the Environmental Engineering Evaluation Centre of the Ministry of Ecology and Environment to publish a book on climate governance strategy and carbon trading policies, which helps clarify the policies, laws, trends, and regulations concerning China’s carbon neutrality goals.

In an RMB8.23bn mandate, infrastructure and project finance powerhouse Fang Yi advised state-established carbon neutrality equity fund National Green Development Fund on its Luopingjiang River pumped storage power station project, which will serve as a 1.2 GW energy storage base to help decarbonise electricity consumption in Hunan province. Within the deal, the firm provided a full spectrum of legal services across project due diligence and transaction structuring and closing.

Also for the National Green Development Fund, the firm advised on its RMB4bn participation in the Ganjiang River Source 3 Rivers 6 Shores Ecosystem Governance and Industrial Enhancement project, which will establish environmentally conscious sub-projects across water protection and restoration, pollution control, and waste and sewage treatment. Throughout the mandate, the team advised on the project’s construction and operation cycle, equity investment matters, and the transaction structuring.

For renewable energy technology company CSI Solar, the capital markets team advised on transaction structuring, compliance, and regulatory matters regarding its RMB6bn IPO. The equity raise supports the client in expanding its renewable technology solutions across PV systems and large-scale energy storage.

Committed to being a market-leader in green innovation, the firm established and is sponsoring the Green Special Fund for Carbon Neutrality, which serves as a public fundraising platform to raise finance for, and mobilise public participation in, carbon sequestration, emissions reduction, and biodiversity initiatives. Following its efforts in introducing green internal operations concerning paper, waste, and travel reduction, the firm was issued a carbon neutrality certificate by the China Quality Certification Centre.

Hong Kong

The Hong Kong office at Greater China-based corporate law firm JunHe makes a key contribution to the firm’s multi-disciplinary ESG practice and is a highly sought-after advisor on green and sustainable capital markets mandates.

In a RMB1.42bn deal, capital markets specialist Chris Tang assisted Zhanjiang Construction Investment Group on its offshore green bonds issuance. Within the mandate, which helps finance the development of green infrastructure projects, the firm provided holistic legal advice across the offering circular, transaction documentation, and deal closing.

For urban development company Fujian Zhanglong Group, the capital markets team advised on a $400m offshore blue bond issuance, acting for the client across the whole issuance process. The transaction – whose proceeds will finance green building, energy efficiency, renewable energy, water management, and sustainable fishery projects – is a landmark example of a non-financial state-owned enterprise issuing an offshore blue bond to invest in wide-reaching sustainable programmes.

To provide clients with deeper support on their green transition journeys, the firm offers regular seminars which explore the legal risks and opportunities surrounding carbon management, and collates tailored reports for clients on ESG business dynamics, trends, and exposures.

Also seeking to improve its internal environmental and ecological management processes, the firm established an internal ESG team across Greater China which is working to educate staff on sustainable practices and implement internal policies which are aligned with international best practice and promote paperless operations, low-carbon transport, and waste management practices.

A key contact is energy and environment expert Hyeong Jun Hwang, who acted for energy trader Vitol on its KRW300m Clean Development Mechanism project in Africa, advising on the establishment of the project company, certification of the associated greenhouse gas reduction programme, and structuring of the generated offset credits.

ESG group head and environmental and climate change law specialist Yoon Jeong Lee assisted the Ministry of Trade, Industry and Energy in interpreting and providing business recommendations surrounding the EU regulation on climate change, greenwashing, plastics, and biodiversity. The firm’s report, produced alongside Hogan Lovells, provides vital support to the Korean government and enables domestic companies to properly engage with European sustainability best practice.

A key client is Hyundai Motor Company, for whom the environment team created a greenwashing self-diagnosis checklist and provided trainings to employees on whether promotional phrases could be deemed greenwashing. Within the mandate, the firm supported the client in avoiding greenwashing in its marketing, utilising case data and the guidelines published by the Ministry of Environment and the Korea Fair Trade Commission to help support the dissemination of accurate and transparent green claims.

As a Law Firm Sustainability Network member, the firm is keenly committed to internal emissions reductions. To further minimise the climate impact of its LEED Gold-certified office, it developed an environmental management policy which targets a tangible impact in minimising carbon outputs, waste generation, and water consumption. To decarbonise and offset its energy consumption, it in 2023 procured 175 MWh of renewable energy certificates and purchased 10% of its energy from renewable sources through utility KEPCO.

In an ongoing matter, the firm is assisting Solar Philippines with various investments and joint ventures, including for the proposed Terra Solar project, a 3.500MW solar project with 4.500MWh of associated battery storage which, once constructed, will be one of the world’s largest ever contracted solar power projects. Additionally, in a multi-jurisdictional mandate, the firm is advising a major international company on its exit of coal fired assets across APAC, as part of its strategic initiative to achieve a net zero emissions target by 2050. It is also assisting a special purpose project company with all legal aspects of a major hydropower project.

Globally, the firm has partnered with World Land Trust and supports initiatives such as the trust’s ‘Keepers of the Wild’ programme to protect critically threatened forest and wildlife in Vietnam.

Within an AUD220m mandate, a corporate and banking team acted for major client the Commonwealth Bank of Australia in its investment into Wollemi Capital’s Series A capital raise. Following the investment, which supports the client’s commitment to lead in financing Australia’s net-zero transition, the two parties will partner on strategic investments across sustainable agriculture, natural capital, climate services, and the energy transition.

Also acting for the Commonwealth Bank of Australia, carbon team head and transition project specialist Dale Rayner led the banking team on the AUD76.7m financing of electric passenger buses, which will be acquired by Transit Systems NSW and deployed in Transport for New South Wales’ passenger services. Within the mandate, which helps decarbonise regional public transport by enabling the gradual replacement of all diesel buses with battery electric alternatives, the firm advised on financing, leasing, and contracting matters.

ESG strategy head Claire Rogers, a key contact on the structuring and financing of clean infrastructure and renewable energy projects, acted for an ethical bank in arranging and negotiating the terms of a key capital component behind New South Wales’ energy transition objectives. The mandate supported the client in providing AUD490m in debt financing to the statutory entity to meet the capital obligations for a critical energy transition project.

Having had its organisation and legal services certified as carbon neutral by government-backed scheme Climate Active, the firm has since submitted a science-based target to achieve net zero by 2040. To reach this goal, the firm has implemented an Australian Legal Sector Alliance environmental management system, which helps integrate environmental measures best suited to decarbonise legal operations.

Singapore

King & Wood Mallesons in Singapore has a cross-disciplinary ESG team and stands out for its work assisting clients with acquisitions that accelerate green growth in the region.

In a $1.3bn multi-jurisdictional matter, the firm is advising BW Group on its purchase of 50% of Gaw Capital subsidiary, Phoenix Allied Limited’s holding, in its entry into an incorporated joint venture to purchase BESS projects at a ready to build stage. In another ongoing highlight, the firm is assisting SUSI with the entry into a partnership with BayWa for the development of solar projects with the capacity of 17MW in Malaysia, Thailand, Vietnam, the Philippines and Indonesia. Additionally, the firm is advising a client on the terms and conditions for trading OTC derivatives over electricity and carbon.

Key contact Michael Lawson stands out for his expertise in conventional energy, renewables, carbon and wider energy transition matters.

Internally, the firm has set science-based emissions reduction targets, including a target to be net zero by 2040.

A key contact is managing partner and corporate law specialist Jeep Chen, who brings renewable energy sector clients longstanding expertise in cross-border transactions and project development matters. Chen regularly assists leading energy companies and investors in establishing their businesses and renewable energy projects in Taiwan.

In order to leave a positive impact in the legal and business community, the firm encourages and supports staff to minimise their waste footprint and reduce their paper usage. It also promotes eco-friendly modes of transport.

Across two landmark matters, David Bullock and Michael Heard are providing pro bono representation to indigenous leader Michael Smith in allegations that the defendants have breached common law and public obligations owed to indigenous peoples and future generations. In a claim currently under appeal to the Court of Appeal, it is alleged that the Government of New Zealand breached fundamental civil rights in failing to both incorporate international climate obligations into domestic law and reduce the carbon emissions produced by government activities. In a separate case against New Zealand’s leading industrial greenhouse gas emitters, it is argued that their carbon-emitting activities amount to torts of public nuisance, negligence, and climate duty. The cases are vital in establishing the duties the public and private sector owe regarding the climate and ecological protection.

In a further mandate seeking to reinforce climate obligations at the government level, the firm is representing Students for Climate Solutions in an application for judicial review of the legality of the government’s grant of two petroleum exploration permits. The mandate is significant in presenting how further fossil fuel extraction runs contrary to the government’s need to meet national and international greenhouse gas emissions targets and comply with its obligations to indigenous peoples.

The firm is also acting before the Court of Appeal for the Royal Forest & Bird Protection Society of New Zealand in judicial review proceedings against Southland District Council and New Brighton Collieries. The case is significant in seeking to prevent the damage of coal mining to local ecosystems and the climate, with the proceedings challenging the council’s decision to grant access to its forestry for coal exploration.

A key contact at the forefront of Taiwan’s renewable energy legal landscape is managing partner George Lin, who leads the firm’s engagement in offshore wind sector mandates. Through assisting on corporate and project matters, Lin has established himself as a notable advisor on landmark matters which are set to dramatically augment Taiwan’s clean electricity delivery.

Projects and energy department head David Lee counts state-owned electricity provider Taiwan Power Company among his clients. Lee is a leading advisor on corporate and transactional matters across a spectrum of renewable energy technologies and elsewhere represents foreign clients regarding their solar, wind, and hydropower project engagements.

The firm is a key advisor in the wind power market, acting for major clients on high-value and significant transactions and financings. Advising the lenders and hedge providers, energy transition financing expert and Asia ESG Steering committee member Ying Fu assisted in the TWD5.27bn debt refinancing of Macquarie’s 230 MW operational onshore wind portfolio in Taiwan. The mandate was impactful for supporting the ongoing operation of one of Taiwan’s leading onshore wind portfolios and reassuring the delivery of clean power under its corporate power purchase agreement with leading manufacturer TSMC.

The firm has longstanding expertise advising across the Hong Kong SAR government’s thematic bond issuances and advised HSBC as joint lead managers in the government’s 2024 HKD5.9bn multi-currency digital green bonds offering. The issuance evidences how the digital capital markets space can promote sustainable development and brings important innovation to boost transparency within the green bonds landscape, since its green documentation and indicators can be accessed digitally.

A major client is the Hainan Provincial Government, whom the firm acted for in its RMB3bn sustainable development, RMB1bn biodiversity, and RMB1bn blue bonds issuances. The programme is an impactful example of how regional governments can leverage thematic bonds to fund their development goals.

The Hong Kong office is keen to offer its insights within the legal and business community, supplementing its thought leadership offering through deep industry engagement, with sustainability regulation specialist Karen Lam supporting the ISDA ESG working group in its work to develop the ESG derivatives segment.

Japan

Through the high-value and cross-border work of its dedicated Asia ESG and renewables practices, Linklaters makes a vital contribution to the development of clean energy in Japan, serving as a key advisor to major corporates and investors on their transformative transactions.

A key contact is new energy and infrastructure transaction expert Hirofumi Taba, who advised Mitsui on its acquisition of a 49% equity interest in Kasso Midco, which operates a landmark large-scale green e-methanol project. The transaction, which supports the client in boosting its power-to-X projects portfolio, will help scale-up the production and delivery of green fuel to diverse offtakers including Maersk and the LEGO group.

The firm continues to advise key regional client Actis on its sustainable infrastructure investments in Japan. Following its advice to the client on the establishment of its $500m Nozomi Energy renewables platform, a multi-disciplinary team represented Actis on its inaugural investment through the platform, acquiring Hergo Japan Energy and its 230 MW portfolio of operating and development-stage solar and onshore wind projects.

For alternative investment firm Stonepeak Infrastructure Partners, the energy and corporate teams advised on the investment made alongside renewables company Shizen Energy into onshore wind platform TerraWind Renewables. The transaction enables the target to further accelerate its wind power development pipeline, which will be rolled out to help corporate offtakers decarbonise their energy consumption.

As a member of the UN Global Compact in Japan, the firm is committed to transparent and accountable sustainability initiatives. The firm’s Asia Sustainability Committee works to champion green best practices across its regional offices, helping pursue its verified science-based target of reducing its emissions by 50% by 2030. The firm also supports industry bodies in building green capacity within key sectors, with the Tokyo office assisting ISDA in its work to adopt ESG best practices in the derivatives space.

Singapore

Linklaters’ team in Singapore has advised clients on various groundbreaking and major renewables projects across Southeast Asia. The firm particularly stands out for its work within the wind sector.

In a multijurisdictional matter, the energy and infrastructure team in Singapore advised Northland Power and Mitsui as joint developers on the project financing of the 1GW Hai Long offshore wind farm project in Taiwan. In another ongoing matter, it acted for a group of lenders on the $480m financing of the Jeonnam 1 offshore project located in South Jeolla Province, one of the first internationally sponsored and financed offshore wind projects in South Korea.

The firm also recently assisted Actis on the launch of its $500m Japan-focused renewables platform, Nozomi Energy, which will target 1.1GW of onshore wind and solar power generation by 2027.

Locally, the firm has set up a sustainability committee, co-led by Singapore-based key contacts Laure de Panafieu and Rob Elliot, which aims to implement environmentally sustainable practices across the office. Other key contact Xylia Sim focuses on the energy transition in the energy infrastructure space, and has been supporting clients in emerging markets in Asia as their business transitions increasingly towards clean technologies.

South Korea

In South Korea, Linklaters is a leading advisor to renewable energy companies, banks, and institutional investors on impactful mandates which support the transition to clean energy and sustainable solutions.

Supporting the growth of Korea’s nascent offshore wind segment, managing partner and renewable energy transactional expert Joo Hee Lee advised RWE Renewables Korea on its acquisition of 40% of the share capital in the project company behind the 224 MW Yokjido offshore wind farm, helping finance the facility’s development, construction, and operation.

In a mandate worth up to $100m, the team advised sustainable infrastructure investment firm Actis on its investment into small utility-scale and rooftop solar project development platform Argo Energy. The mandate marked the client’s first renewables investment in South Korea, helping broaden its Asia climate strategy to catalyse the local climate transition and further accelerate the deployment of renewable energy.

Acting for institutional investment broker Citigroup Global Markets, the capital markets team advised on LG Energy Solution’s $400m green notes issuance. The transaction supports the issuer, a leading battery manufacturer, in pursuing its key goals across renewable energy adoption, waste battery reuse, and the establishment of a clean and transparent raw materials supply chain.

To pursue its firmwide environmental policy and science-based target to reduce its emissions by 50% by 2030, the firm introduced a responsible sourcing programme and business travel campaign, completed a climate-related risks and opportunity assessment, and engaged with DHL to reduce the carbon emissions associated with its shipments.

The firm also works to support clients through emerging sustainability topics within its broad thought leadership service, offering a sustainable futures blog to provide clients Asia-focused ESG updates, publishing regular ESG newsletters, and creating webinars and podcasts which detail emerging sustainability risks.

In two green finance matters that will support India’s transition to clean energy, the firm recently advised Radiance Group on securing a loan for the construction and operation of a 150MW solar park, and assisted the Central Bank of India with financing First Energy 5 Private Limited’s 39MW wind project in Tamil Nadu.

The team also acted for UPC Renewables in contract drafting and negotiation of supply and transmission agreements associated with the development of its 300MW photovoltaic project in Madhya Pradesh. The project will be connected to the Power Grid Corporation of India Limited and is expected to supply the government-owned Solar Energy Corporation of India (SECI) with solar power for the next 25 years.

In keeping with its green transition workload, the team also regularly contributes to clean energy publications and forums, sharing its knowledge and insights with leading corporates on renewable energy, carbon technologies, and regulatory regimes to help foster a sustainable future.

The firm is also actively working to mitigate its own environmental impact and has established a ‘Green Project’ committee to help it address its carbon footprint. Thus far, it is working on going paperless and has set a carbon-zero target across all of its offices by 2025.

It also collaborates with the ‘Grow Trees’ initiative and has, since the alliance’s inception, supported the plantation of over 3000 trees.

Longstanding energy sector expert Peter Limbers, a skilled advisor on renewables transactions and low-carbon energy market strategies, is leading an energy team in acting for the New South Wales Department of Climate Change, Energy, Environment and Water on all regulatory and legal aspects of its Orderly Exit Management Framework, which will invest in green power technologies and establish  a process for the state to retire its thermal power generators. The mandate is vital for ensuring that New South Wales can successfully and quickly transition to renewable generators backed-up by large-scale batteries and hydropower storage.

For the Commonwealth Department of Climate Change, Energy, Environment and Water, the government team is providing legal advice and drafting services concerning the Ozone Protection and Synthetic Greenhouse Gas programme’s permit scheme. The firm’s work on the scheme’s contracting supports the Commonwealth government in pursuing its aims to limit the adverse impacts caused by greenhouse gases and consequently meet its climate targets.

A further key contact is energy transition-specialising commercial practitioner Alanna Mitchell, who has deep experience advising public sector clients on regulatory frameworks and legal mechanisms concerning landmark clean energy and climate projects.

As part of its commitment through the Australian Legal Sector Alliance to promote sustainable behaviour and manage its environmental footprint, the firm implemented an ISO14001-aligned environmental management system to coordinate its paper, energy, and office waste reductions. Helping encourage sustainable thinking among its people, the firm’s Canberra office is undertaking a climate reporting pilot programme with Evalue8, through which staff can account for and thereby reduce their carbon footprint.

In a landmark logistics sector financing, green and sustainability-linked loan specialist Jasmine Chiu represented a syndicate of banks as lender in a HKD8.8bn green loan to real estate manager ESR and property developer Chinachem Group. The loan, which finances the development of an innovative cold storage and logistics facility, requires the borrower to meet sustainability-related KPIs across emissions avoidance, energy-use reduction, waste and water reuse, and recycling.

Further supporting the government goal of building out sustainable infrastructure in Hong Kong, the real estate team advised Credit Agricole, SMBC, and UOB on a HKD1.6bn sustainability-linked loan to ESR to convert a brownfield site into a sustainable and electrified data centre. The mandate required an innovative legal solution to allow the conversion of an existing industrial asset into an ESG-compliant asset to comply within the sustainability-linked loan principles.

The corporate team acted for a syndicate of banks in relation to Haichuan International Investment Co’s $150m green bonds issuance, guaranteed by infrastructure investment group Jiangsu Fangyang. As a novel example of a green and sustainable dim sum bonds issuance, the deal is vital in establishing precedent for renminbi-denominated Hong Kong-issued debt to finance green development objectives.

The Hong Kong office makes a broad thought leadership contribution, having published the Hong Kong chapter of the Sustainable Finance Law Review and provided ESG funds training for property developer and manager Swire Properties.

To more deeply integrate sustainability considerations within its operations, the firm developed an ESG app to promote collective responsibility among employees, joined Hongkong Land’s food waste processing scheme, and is a corporate member of the Business Environment Council, which fosters environmental sustainability among the city’s businesses.

Singapore

Mayer Brown in Singapore often serves as a hub for the firm’s work on the financing of green projects across the APAC region.

In a multi-jurisdictional matter, the firm is advising ADB and JICA as lenders providing financing to Binh Duong Water environment for the construction of a composting plant with a capacity of 840 tons a day and a waste to energy incinerator with a capacity of 8,400kg per hour, both located in Vietnam. This project supports the country’s efforts to improve its waste manage system.

Recently, the firm has been assisting the Asian Development Bank (ADB) with its $110m financing to Energy Absolute for its investment into the production of electric buses in Thailand. This is one of the first large-scale financing initiatives for e-buses in Thailand and will make a contribution the the country’s climate ambitions. In another recent highlight, the projects and infrastructure team in Singapore advised the same client (ADB) and other senior lenders on a project financing loan for the construction and operation of a 400MW solar power project located at the ‘Ultra Mega Renewable Energy Power Park’ in India.

Externally, the team in Singapore show their expertise outside of client work through thought leadership; for example, it recently published a practical overview of the ESG and impact investing landscape in Singapore.

A key contact is Korea finance practice head David Gartside, who has a long track-record advising on deals across the energy transition. Gartside represented a group of international financial institutions on a $940m green loan to auto parts manufacturer Hyundai Mobis, marking the borrower’s inaugural overseas green financing. Helping the client expand and accelerate its e-mobility solutions, the green loan will finance the construction and development of EV parts manufacturing plants in Alabama and Georgia.

A cross-office corporate team represented recycling technologies leader SK Geo Centric regarding its proposed joint venture with circular plastics recycling player Loop, which will entail a commercial and manufacturing partnership. The mandate enables the client to leverage its manufacturing base to scale-up Loop’s proprietary recycling technology, thereby facilitating the wider adoption of sustainable and circular plastics within the Asian market.

The corporate team also advised energy solutions client SK Gas on its investment into renewables construction and operation company Apex Clean Energy. This will help the client accelerate the deployment of Apex’s development-stage BESS portfolio in Texas, which includes the 100 MW Great Kiskadee Storage project.

Via its pro bono programme, the firm assists impact investment manager Beneficial Returns in its impact lending offering, through which the client supports Southeast Asian social enterprises that work to alleviate poverty and protect the natural environment.

Internally, the firm has introduced office-level measures to reduce its carbon footprint, joining green tenant committees, increasing energy efficiency in its offices, and reducing plastics. To decarbonise its supply chain, it works to use tree-free suppliers, sustainable food producers, and eco-friendly promotional items.

A key ongoing client is the Government of Indonesia, whom the capital markets team advised in its 2023 and 2024 blue bonds issuances. The team, led by sustainability committee co-chair and thematic bond specialist Katsuyuki Tainaka, assisted the client in developing its SDG bond framework and in preparing the issuance agreements. The landmark deal is key in supporting the sovereign state in accessing innovative financing channels in order to invest in projects which benefit marine communities and ecosystems.

In another novel and complex deal, the capital markets team advised electronics manufacturer Hitachi on the issuance of its JPY10bn green digital bonds, whose proceeds will be allocated toward investment in energy-efficient buildings. Through combining digital and green features, the bond allows investors to automatically monitor the progress made against the green indicators, helping reassure transparency in the thematic bonds market.

A structured finance and capital markets team acted for Enex Infrastructure Investment Corporation across its JPY35.4bn public offerings. Through the capital raise, the client acquired a portfolio of two solar power plants and one wind farm. The mandate was pioneering since the two offerings each included green equity issuances and required innovative legal advice to carefully navigate the green claims made and ensure the equity offering remained transparent.

The firm prioritises good environmental responsibility, seeking to identify and reduce its footprint through a clear and science-aligned sustainability action plan. As part of its commitment to build industry knowledge on novel sustainability legal issues, the firm makes a keen contribution to thought leadership, including hosting a seminar focused on planetary health, transition finance, and human rights.

The finance team represented clean energy platform PAG Renewables across the whole lifecycle of its 34.55 MW solar project in Yamaguchi prefecture, with the deal innovative in the Japanese market for the integration of a long-term corporate PPA. Within the mandate, the firm advised on development matters, the arrangement of a PPA with a corporate buyer, the long-term project financing, and the preparation and negotiation of the agreement to sell the project when it reaches commercial operation.

The firm’s environmental sustainability committee works to propose internal environmental goals, formulate targeted decarbonisation initiatives and policies, and communicate with staff and stakeholders to boost engagement on these topics. To further encourage buy-in, the committee developed a green suggestion box so employees can lead the sustainability discourse, and is formulating “MoFoEco” pledges in each of its offices to guide staff in making positive green decisions. As part of its global environmental sustainability policy, the firm procures renewable energy credits to offset its scope 2 emissions and recycles all e-waste and paper materials.

Singapore

Morrison Foerster’s global ESG and sustainability steering committee provides an integrated full-service approach to ESG, and includes three partners in Singapore.

The team in Singapore recently acted for SoftBank Group on its investment of $75m in Amea Power, one of the fastest growing renewable energy developers in Africa, which will materialise projects in the power, water, and green hydrogen sectors. In an ongoing matter, it is advising an international corporation on a carbon offset procurement project. It also represented one of the world’s largest technology companies in its investment into a portfolio of wind and solar power projects in India.

Per Lindberg specialises in energy and infrastructure project development with deep expertise in power, LNG, and decarbonisation projects. Lip Kian Ang is particularly active when it comes to advising start-up founders in Singapore on ESG issues.

Notably, the firm is one of nine firms that launched Lawyers for a Sustainable Economy, an initiative matching nonprofits and startups in the field of environmental sustainability with law firms providing pro bono advice.

In a landmark battery storage deal, the projects team acted for natural resource company Idemitsu Kosan, renewables developer Renova, and joint venture Himeji Energy Storage Facility on the commercialisation and project financing of its 15 MW lithium-ion BESS asset in Hyogo prefecture. The deal is a key example of how a leading conventional energy company can leverage existing clean energy expertise to help decarbonise and diversify its energy future.

A key client is Honda Motor, whom the corporate team assists across multiple carbon neutrality-aligned initiatives. The firm advised the client on a partnership agreement with steel manufacturer POSCO, exploring collaborations to boost technologies and materials concerning low-emission and electric vehicles, and on a joint venture with battery manufacturer GS Yuasa to research and develop lithium-ion batteries and to establish a resilient and efficient supply chain and production system.

In a $70m mandate, renewable energy expert and project finance practice head Tomohiro Sato acted for Société Générale on the project financing for a 25 MW solar power project in Aichi prefecture, which will generate non-fossil fuel certificates for Microsoft under a virtual PPA. The deal is innovative through utilising a vPPA and the Japanese feed-in premium system alongside the project finance structure.

To extend its impact within the legal community, the firm’s lawyers serve as members of government associations including the Study Group on Competition Policy for the Realisation of a Green Society, J-Credit Scheme Steering Committee, and Japanese CCS Long Term Roadmap Committee. Seeking to support green projects in the local community, the firm also sponsors Nikkeisha’s corporate food loss reduction project, which works to raise awareness and improve corporate food waste prevention.

A leading contact is green and sustainability-linked financing expert Victor Sim, who acted for alternative investment manager Abax Global Capital as arranger, agent, and green loan advisor on a green term loan to electric vehicle charging solutions provider Cornerstone Technologies. The proceeds of the green loan will finance the production and development of EV charging infrastructure, thus making an important contribution to the Hong Kong government’s zero-emissions targets.

The banking team acted for leading client DBS Bank on a HKD570m loan to property investor and developer China Overseas Grand Oceans Group Limited and the conversion of the facility into a sustainability-linked loan. The deal was significant as the borrower’s first sustainability-linked loan since 2017 and demonstrates the firm’s position as a key advisor to clients which seek to reinvigorate their ESG efforts.

The Hong Kong office also makes an important contribution to the firm’s global thought leadership offering, authoring publications including insights into the Hong Kong Stock Exchange’s consultation on climate-related disclosure requirements.

The firm’s global environmental sustainability subcommittee has gathered emissions data across its regional offices in order to understand its waste generation, resource consumption, energy usage, and business travel emissions. From this data, the firm is creating quantitative emissions reduction objectives and a guiding governance framework to support its transition journey.

In 2023, the Hong Kong office was acclaimed by Hongkong Land’s Green Operations Recognition Scheme for its commitment to sustainable practices. Evidencing its continued efforts to integrate sustainable best practices and decarbonise its activities, the office’s international shipments are fuelled by sustainable aviation fuel through DHL’s GoGreen Plus service.

Brett Spiegel continues to represent First Nations leaders in their landmark climate class action against the Commonwealth of Australia, which alleges that the state breaches its duty of care in failing to take reasonable steps to prevent harms to Torres Strait Islanders, including by failing to establish science-based emissions targets. With the islanders unevenly vulnerable to the climate crisis and facing an existential threat from the impact of fossil fuels on rising sea levels, the mandate is vital in demanding urgent action by the Commonwealth to prevent the islanders from becoming climate refugees. Recent work for the plaintiffs has focused on witness and expert evidence hearing and the filing of closing submissions.

The firm also continues to act as co-lead counsel in a shareholder class action against mining company BHP. Following the collapse of the tailings dam at the Germano mine in Minas Gerais, which caused Brazil’s worst environmental disaster, the plaintiffs allege that BHP violated disclosure obligations, engaged in misleading and deceptive conduct regarding its environmental representations, and caused loss and damage to their positions. The case is vital in establishing legal precedent concerning the obligations of Australian listed companies for the environmental damage of foreign subsidiaries, helping encourage good environmental stewardship in the resource sector.

Seeking to provide leadership in discourse surrounding climate disputes, the firm is a member of the Urgenda Foundation-led Climate Litigation Network, which supports organisations, communities, and individuals in using litigation to compel national governments to boost their carbon mitigation ambitions.

Demonstrating its experience concerning significant renewable energy projects, the firm is advising Beijing Jingneng Clean Energy regarding its 290 MW Wollar solar, 110MW Bialla wind, and 165.5 MW Gullen Range wind projects. The mandate spans planning and environment approval processes, stakeholder engagements, planning compliance issues, and biodiversity offset agreements.

Australia finance and projects team head James Morgan-Payler, a trusted advisor to construction and development companies on major clean energy projects, represented the joint venture between energy infrastructure player Acciona and power solutions provider GenusPlus Group on their successful bid to build the eastern portion of the HumeLink power transmission line. The team assisted on contracting and risk management matters, supporting the client in reliably delivering renewable electricity from the Snowy Hydro scheme to New South Wales.

In an AUD101m mandate, the team represented SMBC on a syndicated green development loan for a student accommodation facility in New South Wales, which is expected to receive a five-star Green Star rating. The firm advised the lender on the finance documents, including the green coordination and green covenants of the facility agreement.

Committed to kickstarting green discourse within the legal sector, the firm is a founding member of the Sustainable Markets Initiative Legal Sector Taskforce and is an active member in Australia of the Clean Energy Council and Energy Club WA.

Pursuing its science-based target to reach net zero emissions by 2040, the firm is committed to data-driven real estate and electricity emissions reductions, raising awareness on business travel emissions, and managing the environmental performance of its supply chain. The firm’s Australian climate change and sustainability network encourages buy-in and personal green choices through providing staff with sustainable tips.

China

Pinsent Masons in China is a key advisor to domestic and international clients on diverse renewable energy and green technology projects which support sustainable objectives throughout the region.

In a $500m mandate, finance and projects specialist Kanyi Lui advised the International Finance Corporation on its investment in PT Bank BTPN’s green and social bond issuance. Following the mandate, which demonstrates how thematic bond issuances can support issuers’ and investors’ environmental financing goals and ultimately contribute to net zero ambitions, the proceeds will help fund renewable energy, climate-smart agriculture, and sustainable building and green mobility projects.

In an ongoing mandate, the firm is advising a lithium-ion battery manufacturer-owned joint venture on the development of a $6bn battery facility in Indonesia. Aiding in the delivery of the project, which will become a landmark electric vehicle battery factory in Indonesia and among the largest in the ASEAN region, the firm is advising on all regulatory requirements and project development matters.

Through its global thought leadership offering, the firm provides Chinese clients insights into cross-border green topics including offshore wind, blended finance, and the implications of the COP summits on businesses and emerging clean technologies. Helping boost green knowledge within the local legal and business community, the team hosted the 2023 China Renewables Conference in Beijing, focusing on how sustainable finance can help scale up green energy and infrastructure projects.

The firm has introduced structures to achieve its science-based target of reaching net zero emissions across its entire footprint by 2040 and established an ESG committee of the board to ensure executive buy-in regarding sustainability performance. Having assessed its exposure through a climate scenario workshop, the firm prepared baselines to anticipate its climate-related reporting requirements and developed a climate and sustainability business plan for 2024 to effectively identify and pursue valuable low-carbon pathways.

Singapore

Pinsent Masons MPillay in Singapore has built up a strong practice in renewable energy and energy transition matters with a focus on wind and solar projects. It often advises major multinationals, governments, funds, and lenders.

Notably, the team advised SUSI Partners and its Asia EnergyTransition Fund on the launch of a renewable energy platform to develop large-scale renewable assets across Southeast Asia; it will focus on greenfield development including solar PV, wind and hydro assets, and the construction and operation of utility-scale generating renewable assets.

In another recent matter, the team assisted the International Finance Corporation with its investment in Mongolia’s first ever green bond issuance, the funds of which will be used to grow Khan Bank’s climate portfolio by finding projects that support renewable energy and sustainable building.

The Singapore office has recently started a Renewables Projects Masterclass series, which takes clients through the best practices at each stage of the renewable energy project lifecycle.

Globally, the firm is committed to achieving net zero greenhouse gas emissions across its entire carbon footprint by 2040, a target that has been approved by the Science Based Targets initiative.

For the Government of Timor-Leste, longstanding international climate change specialist Martijn Wilder assisted in drafting and consulting on the national framework climate change law and in updating its Nationally Determined Contribution under the Paris Agreement. Within the mandate, the team analysed global legal and policy best practice; drafted a framework law which supports climate mitigation and adaptation, resilience, and economic diversification; and hosted workshops and consultations with key stakeholders.

In an ongoing matter, the firm is acting for the Government of Fiji in implementing its Climate Change Act, advising on property rights, governance processes, and constitutional considerations to help operationalise the country’s carbon markets. The team worked to build alignment with existing legal frameworks and international carbon market best practice, helping ensure Fiji’s carbon credit landscape is transparent and effective.

A key client is one of the region’s largest banks, whom corporate strategy and investment specialist Sarah Barker is advising on climate change strategy, carbon reporting, and on the formulation and disclosure of its portfolio emissions reduction targets within its Net Zero Banking Alliance commitments.

The firm’s Impact Team develops and implements ESG best practices to help pursue its 2040 net-zero target. Ahead of setting near-term climate commitments, the firm is procuring renewable energy and carbon neutral services, recycling e-waste, reducing commuting and business travel, and minimising paper and plastic usage.

With its finance expertise, the team recently advised Virya Energy, a renewable energy development specialist, on its majority stake in the green investment platform Constant Energy, a specialist in solar and wind power.

It also assisted the Industrial and Commercial Bank of China on a sustainability-linked term loan facility granted to Palmy Max. The loan is subject to certain sustainability targets to incentivise Palmy Max and its group to facilitate and support environmentally and socially sustainable economic activity and growth, including the reduction of carbon emission intensity.

Alongside its workload, the firm also regularly hosts sustainability webinars, seminars and training sessions for clients to help them navigate changing ESG regulations.

Internally, the firm is working towards fostering a more sustainable future and has – since the birth of its sustainable and environment committee in 2019 – employed several energy and water-saving initiatives, along with a waste management system, to reduce its impact.

Head of the firm’s energy, infrastruture and projects practice, Kamilah Kasim is a key contact.

Notably, the firm recently advised Temasek, one of Singapore’s sovereign wealth funds, in relation to the landmark $8.7bn merger between Sembcorp Marine and Keppel Offshore & Marine. The merger is intended to create a strong global leader to capitalise on growing opportunities in the renewable and clean energy sectors.

In another recent matter, the firm assisted Blue Planet Environmental Solutions, a waste management organisation, with its $42m acquisition of the entire issued share of Vac-Tech, a cleantech company. The acquisition will broaden the client’s product portfolio and establish a one-stop waste management solution for governments and multinational entities.

In the hydrogen sector, the firm recently acted for Keppel Sakra Cogen on the development of the Keppel Sakra Cogen Plant, a 600MW combined cycle gas turbine power plant which will be one of Singapore’s first hydrogen-ready power plants.

The firm’s sustainability practice, which aims to help clients stay ahead of rising ESG compliance regulations in the region, is headed by Singapore-based Lee Weilin. Key contact Sandy Foo has wide and deep experience in corporate, finance and sustainability matters. Kala Anandarajah often advises clients on ESG issues, and specialises in carbon trading and carbon tax matters.

Head of infrastructure Michael Loan advises on pioneering renewable energy transactions and development matters. In a deal worth over NZD500m, he is leading a cross-practice team in acting for Meridian Energy on its joint venture with NZ Windfarms to repower the Te Rere Hau wind farm from a 45.5 MW to a 170 MW capacity. The deal is a landmark example of a wind farm repowering in New Zealand and will provide the client with clean electricity for fifteen years under a power purchase agreement.

Demonstrating its expertise in the solar power sector, the firm advised a joint venture between electricity generator and retailer Genesis Energy and renewable energy solutions provider FRV Australia on the acquisition, development, and project financing of the 63 MW Lauriston solar farm, which is among the largest PV projects in New Zealand to reach financial close. A multi-disciplinary team acted for the client in acquiring the ready-to-build project, establishing the joint venture, navigating consenting and permitting procedures, arranging the project financing, and negotiating the project documents.

Hannah Bain – head of climate change and a key advisor on climate policy and regulation, green risk, and carbon trading – assisted the Climate Change Commission regarding its first review of its 2050 emissions reduction target. By supporting the government in understanding whether there had been a significant change in New Zealand’s obligations under relevant international agreements, the matter is impactful in ensuring the country stays in line with global decarbonisation objectives.

Alongside regular thought leadership contributions on emerging sustainability topics, the firm maintains a renewables blog and ESG blog to provide readers a one-stop shop on pressing green legal matters.

In a recent mandate, the firm acted for Kotak Mahindra Capital Company Limited, Axis Capital Limited and Avendus Capital (the “Placement Agents”) in their joint investment in Sustainable Energy Infra Trust. The fund, co-sponsored by Mahindra Group and Ontario Teachers’ Pension Plan Board, is most notably India’s largest renewable energy listed infrastructure investment fund and will thus play a key role in supporting India’s transition to clean energy.

The team also recently advised Livguard Energy Technologies, an energy storage company, on the transaction documents associated with its joint venture with the EV manufacturer Quanteon Powertrain. With combined power, the consortium aims to reduce congestion problems and reduce air pollution and C02 levels across India.

In keeping with its green workload, the firm is also working to reduce its carbon footprint. Not only is its New Delhi office located in a LEED Gold-certified building, but it has also implemented a waste management system and water and energy-saving measures across both its Mumbai and New Delhi offices.

The team’s engagement in thought leadership is also noteworthy. The firm publishes a ‘Clean Energy’ quarterly, which shares insights on a variety of ESG topics such as renewables, PPAs, carbon credits and green financing. Drawing on this knowledge, it also collaborated with USAID on a workshop on PPAs with India’s Ministry of New and Renewable Energy.

Of its corporate workload, the group is currently advising a large multinational bank on a green loan to Manyata Promoters Private Limited for the Embassy Manyata Business Park in Bengaluru, in addition to assisting Stirrup Communication Consultants Private Limited with the sale of a stake in the business to the Singaporean ESG investing company Xcelerate Pte, marking India’s first control transaction in the ESG space.

With in-depth knowledge of the ESG space, the team also recently conducted a baseline due diligence exercise on Webklipper Technologies Pvt Ltd on behalf of its investor, Singularity Holdings.

However, its dedication to a greener future goes beyond its workload, and since forming its dedicated ESG practice back in 2022, it has implemented various strategies across offices to reduce waste, implementing a waste management system and discouraging the use of single-use plastics.

The firm is also an SME member of Global Compact Network (UNGC) India and regularly engages in pro bono work. Its affiliation with the NGO Muktangan Educational Trust, a group dedicated to providing free environmental science education to students, is also noteworthy.

Evidencing its expertise on emerging sustainability regulations and best practices, ESG Center deputy head and ESG advisory services lead Soo Young Song assisted fashion company Handsome in reviewing the EU circular economy regulations which concern its French subsidiary. Helping the client chart the emerging and complex regulatory landscape, the ESG team provided analysis on the regulations potentially relevant to the client – including the Carbon Border Adjustment Mechanism, Corporate Sustainability Due Diligence Directive, and the Green Claims Directive – and reviewed best practices for their application and requirements.

In a KRW125bn mandate, the projects team advised the Korea Development Bank as financial adviser and financing arranger to Chorok Energy Co regarding the construction and operation of a fuel cell power plant. With the borrower the successful bidder in the first hydrogen power bidding auction, the transaction is a landmark deal which will serve as a vital benchmark for future financings as the hydrogen power segment grows.

To support staff in acting responsibly internally and within the community, the firm devised an ESG charter which serves as a code of conduct and guides employees on ESG and environmental management issues. Further evidencing its desire to be a positive influence in the community, in 2023 it published its first Impact Report, detailing its key ESG management issues and the efforts pursued to mitigate them. Toward reaching its internal environmental targets, it has launched a waste and paper minimisation campaign.

Notably, the firm acted for Maybank as sole financier and sustainability structuring adviser in one of the first Islamic Sustainability-linked RCF’s in the shipping sector in Southeast Asia. The team also assisted CapitaLand India Trust with its $200m sustainability-linked loan from International Finance Corporation. DBS sought the firm’s advice on the $100m green loan facility granted to ComfortDelGro for the purchase of electric buses by its UK subsidiary company.

The firm’s ESG practice lead, Joseph Chun, regularly contributes his legal expertise to green advocacy projects and is a member of the Asia Pacific Centre for Environmental Law. He has drafted reports on the state of Singapore’s marine biodiversity and on recommendations to enhance biodiversity protection.

Showing strong external engagement, the firm regularly organises ESG seminars and also participates in university, industry, and client-organised ESG events.

Alongside undertaking client work and seminars on how the shipping industry can apply green and sustainability-linked loans to help meet regional and global net-zero targets, the firm offers broad expertise to shipping companies regarding low-carbon fuels and emissions trading matters. Andrew Rigden Green, a key advisor and thought leader in this space, sits on the Hong Kong Green Finance Association working group focused on creating a green bunkering hub in Hong Kong and is on a government advisory group concerning the energy transition for marine fuels. Rigden Green has also presented on topics including sustainable shipping finance, decarbonisation disputes, and zero-carbon shipping.

ESG funds expert Penelope Shen, who launched the firm’s Asia ESG initiative, represents the firm in its key industry memberships, assisting the Hong Kong Green Finance Association in drafting a policy paper on Hong Kong’s pathway to becoming a green investment fund hub and partnering with the Hong Kong Chancery Lane Project to develop contracts and model laws which help fight climate change.

The firm widely participates in pro bono programmes that work to protect marine ecosystems, partnering with A Plastic Ocean Foundation in its science, education, and policy programmes which seek to prevent plastic pollution.

Supporting the decarbonisation of a leading corporate, climate change expert Zhen Chen acted for sporting goods group Decathlon in signing its first green power purchase agreement with CGN New Energy Holdings. The firm’s advice, spanning the whole process of the project, is a landmark example of a major consumer company financing additional solar plants by securing the long-term procurement of green power across its whole value chain.

For carbon trader and asset manager Yunnan Energy Investment Carbon Emission Management, the firm provided cross-practice legal support on renewable energy credit developments and transaction documents. The team assisted with creating a platform which offers corporates access to certified emissions reduction programmes, consequentially helping finance green projects while supporting high-emitting clients in their carbon offset strategies.

In an ongoing mandate, carbon specialist Chuxing Dong is advising Bridgestone China Investment on carbon neutrality and ESG regulatory matters. With the client, a multinational tyre company, committed to pioneering the development of sustainable solutions, the team’s assistance is vital in identifying and managing regulatory and business risks and opportunities regarding sustainable development goals throughout its value chain.

Through its Environmental, Resources and Energy Research Centre, the firm stands out as a notable authority for legal research concerning sustainable development. Helping boost ESG knowledge within the legal community, it hosted seminars on topics including carbon-related practices, learnings from COP28, China’s dual carbon goals, and ESG compliance in the investment and financing space.

Projects team member Arlene Maneja is highly active in the low-carbon energy sector, specialising in investment and transactional mandates. A key client is clean power developer and investor MGen Renewable Energy, whom Maneja advised on its PhP15.9bn investment in SP New Energy Corp to develop 3500 MW of solar and 4000 MWh of BESS projects in the Philippines. With the project set to become one of the largest in Asia, it makes a leading contribution toward the government’s vision of having 35% of national energy coming from renewable sources.

For major clients the Asian Development Bank and the Bank of the Philippine Islands, the firm is assisting regarding a PhP11bn sustainability-linked loan to major renewable energy platform ACEN Corporation. The loan, which incorporates environmental and social KPIS, will finance and refinance the development, acquisition, and operation of solar projects in the Philippines.

As a corporate member of the Philippine Eagle Conservation Programme Foundation, the firm provides corporate secretarial work and advises on commercial and corporate law matters, supporting the non-profit organisation in its mission to save the endangered Philippine Eagle and its rainforest habitat through culture-based conservation, rescue, research, and education programmes.

The team also regularly provides clients with insights to facilitate their transition journeys, offering a guide into the net zero transition in the Philippines and a jurisdictional overview on ESG reporting, transition planning, and greenwashing risk.

As part of its environmental responsibility programme, the firm adopted green guidelines to reduce paper, plastic, and energy usage. It also partakes in a recycling creditisation programme, through which it collects recyclable waste and redeems upcycled products to be donated to local schools.

In a RMB2bn transaction, the firm assisted China Construction Xi’an Xingfu Forest Belt Construction Investment on the green PPP-ABS by the Xi’an Xingfu Forest Belt PPP project, an ecologically conscious and sustainably managed urban renewal site in Xi’an. The team assisted across transaction plans, legal due diligence, and the ultimate asset-backed securitisation, which serves as an innovative example of how green finance can be applied to existing public-private partnerships to help drive investment in ecological and sustainable projects.

For China State-owned Enterprise Structural Adjustment Fund II, the team advised on the formation of its RMB2bn Zhongxin Green Power Fund, which will leverage central, regional, and private finance to invest in clean energy projects. Within the mandate, the team assisted in legal due diligence and in negotiating the partnership agreement with the co-funders.

Demonstrating its cross-border expertise, the firm also acted for alternative investment management platform Dajia Investment Holding on its agreement with Cathay Capital and TotalEnergies to jointly invest in industrial and commercial PV development projects. This is a novel example of a Chinese insurance fund investing into industrial and commercial solar projects and serves as an important precedent for the sector to fund and promote clean energy developments.

The firm makes a keen contribution to practicing ESG responsibility, providing all staff with training on environmental protection, energy and water conservation, and printing and waste paper minimisation. Extending this commitment into the community, the firm annually participates in a tree-planting programme in Inner Mongolia in order to protect biodiversity and mitigate against desertification.

In a $2.7m deal, a cross-practice team represented sustainable infrastructure investor PT Sarana Multi Infrastruktur in the project financing of PT ATW Alam Hijau’s commercial and industrial rooftop solar projects on Java Island. With the project financing being a novel example of domestic lenders funding rooftop solar projects, the mandate saw the firm help develop a new bankability standard for future solar rental agreements.

Assisting with the reduction of local plastic pollution and boosting recycling rates, the projects team is acting for the Alliance to End Plastic Waste in its partnership with the Malang Regency to establish effective and economically feasible waste management systems in underserved communities. The Bersih Indonesia programme, which seeks to collect and process approximately 140,000 tons of municipal solid waste, will create a national precedent for replicable waste management systems.

In an IDR700bn mandate, a cross-practice team is representing clean energy developer PT TBS Energi Utama in the development of a 46 MW floating solar power plant on Batam Island. The firm supported the client from the project’s early development, assisting in shareholder, power purchase, construction, and financing agreements.

Keen to engage the community on sustainability topics, the firm partnered with the Association of Carbon Experts Indonesia to help shape the regulatory framework for carbon emissions exchanges and consequentially enhance transparency and accountability in the market. The firm bolsters this engagement by providing clients with a tailored ESG training programme and through authoring articles on topics including carbon trading, sustainable finance, renewable energy, and battery electric vehicles.

The internal green office initiative, led by renewable projects specialist Kirana Sastrawijaya, is coordinating the firm’s work to reduce paper and plastic usage and promote energy efficiency.

In an ongoing matter, the firm is assisting a real estate company with the drafting and review of a power purchase agreement with a leading solar energy provider for the installation, operation, and maintenance of a generating facility, in a deal that contributes to the Energy Market Authority of Singapore’s target to meet 2GW of solar deployment by 2030 under the Singapore Green Plan.

The firm also recently advised a consortium of banks as lenders in the $535m financing to Singtel’s data centre subsidiaries in one of the first green loans obtained by the clients. The data centres in question will have to maintain at least a Green Mark GoldPlus certification from Singapore’s Building and Construction Authority as part of the green loan criteria.

Tay Peng Cheng heads up the firm’s energy, projects and construction practice and regularly advises on landmark projects within the energy and construction sectors, including waste-to-energy plants and clean energy projects. Quak Fi Ling co-leads the sustainability & responsible business practice and champions ESG principles within the legal landscape.

The firm is a member of the United Nations Global Compact. As part of its external engagement, it regularly conducts webinars and seminars for clients on specific ESG issues on topics including sustainability reporting requirements, green financing, carbon credits, and climate litigation.

In the renewables space, the team recently advised the Export-Import Bank of Thailand and the Joint Stock Commercial Bank for Investment and Development of Vietnam on two syndicated loans. The first supports the financing of the 50MW HBRE Chu Prong Wind Power Farm Project, and the second finances the 49.608Mwp Binh Nguyen Solar Power Plant Project. Duong Thu Ha led on both matters.

The team is also taking steps to minimise its environmental impact and thus far has implemented a single cloud-based IT system and waste management system.

The team is currently advising a Malaysian renewable energy project developer on a PPA for the proposed run-of-river electricity generating facility in Sabah.

In a recent mandate, it also assisted Worldwide Holdings Bhd with the engineering, procurement, construction and commissioning (EPCC) contract for two waste-to-energy facilities at Jeram Sanitary Landfill, Kuala Selangor. With a waste capacity of 1,000 tonnes per day, it is expected that at peak capacity, the facility’s first phase will generate between 20-25MW of green energy, which is enough to power 25,000 households.

The firm shows further commitment to sustainability through its internal initiatives, employing energy and water-saving techniques and implementing a waste management system. It also engages with its supply chain to reduce carbon emissions. In line with these reductions, it sets annual targets for GHG emission reduction, as well as energy and water consumption, measuring and disclosing them on a yearly basis.

Through its environmental sustainability policy document, the firm is also mapping its progress towards achieving its sustainability goals. Updated annually, the living document is responsible for keeping it on track and striving for betterment.