Cathay Pacific Airways and Dragon Air
We continue to assist Cathay Pacific Airways and Dragonair in respect of their global carbon offset program, the first to be launched by Asian airlines.
Hong Kong Exchanges and Clearing Ltd (HKEx)
We were appointed by the HKEx to study the trading of emissions-related products in Hong Kong. The study is the first to be conducted by a leading stock exchange in Asia to assess the full range of carbon and environmental markets and possible trading options.
Commercialisation of carbon credits
We advised a US clean energy investment firm on the structuring and packaging of a portfolio of CDM projects which pooled 15 million CERs (with an projected average value of about Euro 15/CER) into a private placement for sale to compliance buyers and investors in tranches with different risk characteristics.
Standard form Hong Kong law-compatible standard form Emissions Reduction Purchase Agreement, Custody Agreement and ISDA Confirmation
We reviewed the standard form Emissions Reduction Purchase Agreement (ERPA), Custody Agreement and ISDA Confirmation of a major European bank, and amended these documents to be compatible with Hong Kong law. This will assist the bank in their growing carbon business in China and the rest of Asia
Taking security over carbon credits
We completed a detailed analysis and advice on the ability of a lender to take security over carbon credits, specifically, CERs from CDM projects for a multilateral bank.
We are assisting a Hong Kong-based energy company in its investment in a waste heat to energy project in Fujian province that will reduce carbon emissions abatement and generate energy.
Our lawyers advised a leading international project developer on proposals to set up a carbon fund based on clean development mechanism (CDM) projects in Asia.
CDM project development agreements
We have advised leading international project developers and consultants on CDM project development agreements for use around Asia.
Emission reduction purchasing agreement disputes
We have advised international project developers and sellers on disputes with buyers over differences on CDM project registration and pricing issues. This has included advising on available dispute resolution options.
Hong Kong sustainable development strategy: invitation and response document - renewable energy policy
Our team assisted with a legal and policy response to the Hong Kong Council for Sustainable Development invitation and response document. The document was part of the public consultation for a sustainable development strategy for Hong Kong and focuses on three specific areas: solid waste, renewable energy and urban planning. Our team are also providing input on the renewable energy section of the document.
Electronic trading platform for certified emission reductions
We developed and drafted the rules and associated documents for the first electronic trading platform for certified emission reductions (CERs) based in Asia. The platform facilitates the trade of CERs over the internet by matching CER sellers and buyers in the international carbon market.
Industry standard hedging documentation and renewable energy certificate (REC) transactions
Our lawyers prepared the industry standard hedging documentation under which renewable energy certificates (RECs) are traded. The documentation forms part of the Australian OTC Guide. Our experience in drafting the hedging documentation has led us to act for a range of clients in their trading of RECs.
Renewable Energy Equity Program (REEF)
We acted for the Australian Department of Industry, Tourism and Resources in delivering the Renewable Energy Equity Program (REEF). This involved the setting up and continuing management of the REEF venture capital fund. The purpose of the REEF venture capital fund was to stimulate activity through direct investment in the field of renewable energy. The successful delivery of this program depended upon negotiations with Australian government stakeholders (including the Australian Greenhouse Office), venture capital managers and private equity investors.
Renewable energy and carbon finance manual for China
Our team assisted the Australian Business Council for Sustainable Energy with the preparation of a renewable energy investment manual for China. The manual was published in October 2006 and provides detailed guidance for foreign investors considering an entry into the Chinese renewable energy and carbon financing market.
Model CER sale and purchase agreement
We are part of an international legal team assisting a multilateral investment corporation in the development of a new standard CER sale and purchase agreement and guidance document. The objective is to produce a fair, easy to use and cost effective document which will speed up CER transactions.
Top legal adviser Asia Pacific renewable power projects, 2005
Dealogic, Project Finance Magazine 2006