Ukraine

In addition to providing investors, green energy producers, and financial institutions with comprehensive regulatory advice on green energy projects, Ukrainian firm GOLAW has experience assisting both Ukranian and international clients in the development of solar, wind, and hydroelectric power plants, as well as biomass- and biogas-based power plants, the acquisition of facilities, and day-to-day operations.

A current client is TIU Canada, a subsidiary of the Canadian investment fund REFRACTION Asset Management, for which the firm is handling a range of matters related to the export of green energy from Ukraine to Europe, including the preparation of a detailed legal memorandum and action plan for the implementation of the electricity import mechanism.

In another mandate, the firm is advising KBPP Management and a group of Irish investors on the drafting and implementation of the tender for the selection of the new EPC contractor for the development of a large-scale biomass power plant in the Khmelnytsky region.

The team includes Valentyn Gvozdiy and Oleksandr Melnyk, who are known for regularly representing clean and renewable energy developers, financiers, and contractors in the full life cycle of RES projects. Sergiy Oberkovych is another key contact, noted for routinely handling both project finance and development matters for a number of energy sector clients, with a particular focus on large-scale power, renewables, and infrastructure projects.

The firm is a member of the Associated European Energy Consultants (AEEC) and cooperates with European, Ukrainian, and global partners, including IKEM and Bill Gates Breakthrough Energy, to develop a strategy for a sustainable and climate-neutral energy sector in Ukraine.

Has your firm established a dedicated ESG/climate change/sustainability practice, team or task force?

Yes, GOLAW has recognised the critical importance of ESG (Environmental, Social, and Governance) considerations, particularly within the energy sector. We have a dedicated team within our Corporate and M&A department that specialises in advising clients on ESG, climate change, and sustainability matters.

As well as our firm’s back office actively implement ESG practices within our firm.

What type of work do you handle in connection with “green change”?

In connection with the “green change,” our firm handles a range of matters including advising clients on regulatory compliance related to environmental standards, assisting in the development and implementation of sustainable energy projects, and providing guidance on ESG disclosure requirements for publicly traded companies in the energy sector.

GOLAW is deeply honored to be a part of the Europe-Ukraine Energy Transition Hub (EUETH) initiative which brings together a consortium of leading international technical, legal and financial experts and organisations dedicated to reshaping Ukraine’s energy sector. The main aim is to develop and implement a modern energy strategy for Ukraine in synergy with our European and global partners. We work towards a net-zero emissions future through the deployment of innovative clean technologies that will benefit Ukraine, as well as the European Union.

Would you like to highlight a particular area of strength?

Certainly, one area of strength for our firm is our deep understanding of the regulatory landscape surrounding energy projects. We have successfully assisted numerous clients in navigating complex regulatory frameworks to bring sustainable energy projects to fruition.

Has your firm implemented any internal best practices?

Yes, internally we have implemented best practices to reduce our own environmental footprint, such as reducing paper usage, promoting recycling initiatives, etc. In particular, we ensure reduction of paper use, electronic document management; saving electricity used in the course of business and ensure responsible use of water in the offices; provide training and raise environmental awareness in the firm.

Social principles are also very important to us. Special attention is paid to the issue of labour rights of employees, in particular to the issues of: guaranteed of employment, adequate remuneration, social dialogue, balance between work and private life and inviolability of private life of employees, labour protection and sanitation, measures against violence, gender equality, justice (equal pay for equal work), training and skills development, etc.

Has your firm joined any external ESG-related projects, networks or initiatives?

We are actively involved in various external ESG-related projects, networks, and initiatives, including partnerships with industry associations, such as Associated European Energy Consultants, European-Ukrainian Energy Agency and Institute for Climate Protection, Energy and Mobility (IKEM); participation in Europe-Ukraine Energy Transition Hub (EUETH) initiative as mentioned already and participation in sustainability-focused conferences and events: European-Ukrainian Energy Day in Vienne, ReBuild Ukraine in Warsaw, German-Ukrainian Business Forum in Berlin, UN Climate Change Conference (COP), World Economic Forum etc.

What are your firm’s ESG-related goals?

Our firm’s ESG-related goals include further integrating ESG considerations into our client advisory services, expanding our pro bono work in the environmental and sustainability space, and continually improving our own sustainability practices.

Is your firm involved in any relevant pro bono work?

Yes, we are actively involved in pro bono work related to ESG and sustainability, including providing legal assistance to environmental organisations and participating in community initiatives focused on conservation and environmental education.

In particular, we support NGOs which assist Ukraine in various spears during the war: humanitarian aid, children care, rebuilding etc. For instance, one of our recent pro bono projects was devoted to legal assistance to an NGO in reconstructing a hospital by installing solar power panels on the roof of the hospital to ensure its sustainable and secured operation.

Is your firm involved in any public outreach or client education?

Absolutely, we regularly conduct workshops, webinars, and seminars to educate clients and the public on legal matters, including ESG issues and their legal implications, as well as providing thought leadership through publications and speaking engagements.

For instance, on of the recent events was devoted to the topic of the application of labour legislation with emphasis on the matters related to employees’ employment and dismissal, reservation of employees, trends in consideration of labour disputes, etc.

Have there been any recent non-confidential stand-out matters that were particularly innovative, pioneering or complex?

While we have a robust portfolio of projects in the ESG and sustainability space, it’s important to note that the majority of these initiatives are confidential, particularly those involving M&A transactions. We recently advised a major energy company on the acquisition and development of a large-scale renewable energy project, which involved navigating complex regulatory requirements and structuring financing arrangements to support the project’s success.

When did ESG, climate change and/or sustainability become an area of focus at your firm?

ESG, climate change, and sustainability have been areas of focus at our firm for several years now, reflecting both client demand and our firm’s commitment to addressing pressing environmental challenges.

What has driven your firm’s involvement in a green transition? (Client demand? Business case? Personal attitudes/beliefs/initiatives?)

Our firm’s involvement in the green transition has been driven by a combination of factors, including client demand for sustainable energy solutions, recognition of the business opportunities presented by the shift towards renewable energy, and a genuine commitment to promoting environmental sustainability.

Do you have any strategic plans to expand your work or your initiatives in this area in the future?

Yes, we plan to further expand our work and initiatives in the ESG and sustainability space during the post-war period, including investing in additional training for our attorneys, expanding our pro bono efforts, and exploring new partnerships and collaborations with organisations that share our commitment to environmental stewardship.

Where do you see the future of ESG/sustainability in the legal community (both in terms of legal offerings and firms’ best practices)?

In the future, we anticipate a significant expansion and evolution in ESG and sustainability-related legal offerings within the legal community. With climate change and sustainability issues taking center stage on the global agenda, there will be a heightened demand for legal expertise in navigating the complex regulatory landscapes and addressing emerging challenges.

Firms will increasingly prioritise the integration of ESG considerations into their core services, offering specialised advisory services tailored to clients across various industries. This may include advising on sustainable finance, ESG disclosure and reporting, compliance with evolving environmental regulations, and navigating complex supply chain issues.

Overall, we anticipate that the legal community will continue to play a pivotal role in driving positive change towards a more sustainable and equitable future, with ESG considerations becoming increasingly integrated into the fabric of legal practice.