Estonia

Multi-service firm TGS Baltic recently launched a pan-Baltic ESG practice aiming to identify and assist clients with short and long-term needs for sustainability-related legal services. The firm’s Estonian team often handles matters related to forest development and protection in the region, with Estonia one of the most forest-rich countries in the world. The team also stands out for its renewable energy state aid-related work.

In a novel case, Estonian co-heads of the firm’s energy practice group, Triin Kaurov and Triinu Järviste, are advising the Environmental Investment Centre on developing a new state aid subsidy measure to support the development of hydrogen production and use chains in Estonia. The duo is also assisting Elering, which oversees the issue of green energy state subsidies, with a number of state aid administrative matters, including one in the European Court of Justice concerning the payment of renewable energy state aid.

Other notable clients include the Estonian State Forest Management Center, which maintains, grows and manages roughly 45% of Estonian forests, and Multiland, one of the largest owners of forest properties in Estonia, which follows the principles of sustainable forestry.

Actively aiming to bring awareness around sustainability issues to clients, the firm’s Estonian office recently held a seminar discussing labour law and ESG, and published articles covering topics such as the dark side of the green energy transition and greenwashing.

Outlining its sustainability efforts and goals, the firm’s Estonian office also recently published its sustainability report 2023. In a particular achievement and demonstration of its commitment to sustainability, in 2022, the firm as a whole was certified under the ISO 14001 environmental management standard. Additionally, in collaboration with its partners Myliu miska (’I love forest’), the firm neutralises CO2 emissions from its events by donating to reforestation projects.

Lithuania

Leading Baltic law firm TGS Baltic’s Lithuanian team stands out for its work within the sustainable finance space, with a focus on investments in the renewable energy space, particularly wind power. The firm recently launched its ESG practice to support clients with their ESG goals and obligations.

Together with the M&A and real estate and construction team, head of energy Paulius Zapolskis is currently advising Green Genius, an international renewable energy company, in the purchase of 100% of the shares in the company which has rights to develop an 85 MW wind farm in Lithuania. This deal is particularly significant as it contributes to the region’s climate change mitigation agenda and will account for around 13% of the country’s current wind power portfolio.

Another recent highlight is the team’s work advising EPSO-G on the issuance of sustainability-linked bonds. This is one of the first projects in the Baltics where the interest of the bonds is linked to compliance with sustainability requirements.

Trying to lead by example, the firm received an ISO 14001 certification, demonstrating its commitment to managing its impact on the environment. Furthermore, in collaboration with public institution and non-profit Myliu Miska (I love forest), the firm measures and neutralises CO2 emissions from its events. It also regularly participates in and initiates events related to sustainability, such as a recent seminar on labor law and ESG.

Latvia

Multi-service firm TGS Baltic’s Latvian team frequently advises clients on renewable energy projects, particularly relating to wind power. The firm as a whole recently launched its ESG practice to provide dedicated ESG legal support to its clients.

In a recent highlight, head of energy Agnese Hartpenga and others led the advice to Latvenergo on the establishment of the joint venture Latvijas vēja parki together with Latvijas valsts meži. The purpose of the joint venture is the construction and management of wind parks with a capacity of up to 800 MW by 2030; through the planned installation of 100-120 wind turbines in the new wind farms, approximately 2.4 TWh of electricity would be produced per year, which is around 30% of the energy consumed in the country during 2021.

Hartpenga also recently assisted Wind Power Development with a range of legal matters regarding a wind power plant development; the capacity of the planned project is 150-300 MW.

Demonstrating its commitment to sustainability, the firm collaborates with Myliu Miska (I love forest) to neutralise CO2 emissions from its events. Additionally, it received an ISO 14001 certification, meeting internationally agreed environmental management system standards. The team has also published a number of articles around green energy and sustainability, such as a recent piece on greenwashing.