Wikborg Rein has offered industry-leading legal expertise for nearly a century. Their long standing experience, combined with a particular emphasis on corporate responsibility, make Wikborg Rein uniquely positioned to support the green shift. Alongside energy companies and financial institutions, Wikborg Rein has also been transitioning to facilitating climate and Environmental, Social and Governance (“ESG”)-friendly projects. This approach is not only a win-win for their clients, it is also crucial for a better tomorrow.
Strategic focus on sustainability
As part of their green efforts, Wikborg Rein has established a dedicated Renewables and Sustainability practice group. This group together with the wider Wikborg Rein network regularly advises clients on sustainability regulations and green projects.
Green investments have grown exponentially over the past decade, particularly within the ocean industries. What distinguishes these investments from other investments, is their commitment to preserving natural resources and promoting environmentally friendly operations. These commitments must be underpinned by a number of legal and commercial mechanisms. In October 2019, the first Nordic maritime green bond was issued, with Wikborg Rein instructed as the legal counsel to the Green Bond Advisor.
The green wave
Central to the green wave in the capital markets, is the focus on ESG-matters. Put simply, companies that place ESG-matters high on their agendas attract the most capital and positive investor sentiment. There is currently no clear legislative framework for assessing which investments qualify as sustainable, but we are likely to see a number of regulatory changes moving forward as well as an increased expectation on the part of stakeholders of market standards which must be satisfied.
For example, the EU Action Plan on Financing Sustainable Growth was launched in March 2018 as part of an initiative to promote sustainable investments and integrate ESG into the financial markets. By the end of 2021, the EU will introduce legislation in four areas of sustainability in order to harmonize the practice in the EU markets. Wikborg Rein continuously assists and is instructed by their clients on ESG-matters, with particular focus and expertise in the renewable energy sector.
Regulating green shipping
In Singapore, the maritime capital of the world, Wikborg Rein offers legal expertise for the developments within green shipping. Over the last decade, the push for the maritime industries to reduce their emissions have led to the evolution of new rules and regulations. As part of their practice, Wikborg Rein advises ship owners on how they can ensure compliance with relevant regulations, and accordingly, become part of the climate solution.
Lesley Tan will be speaking at #SNIC2021
Learn more about how the legal industry is supporting the green shift. You will also learn more about business opportunities in the maritime and urban sectors.
Sign up for SNIC2021 here.