GREEN GUIDE EMEA 2023: Denmark
Kromann Reumert
Leading law firm Kromann Reumert was the first Danish law firm to become a member of the UN Global Compact and strategically implements sustainable values into everyday practice.
Co-head of its ESG practice Maria Holst Levin has a deep knowledge of the energy sector and corporate governance. She has recently led on some major renewables work including the sale of three different biogas companies and advises clients in the growing hydrogen sector. Holst Levin is also a member of the Danish Law Firm Association’s Climate Committee. Jacob Høgh Madsen leads the ESG practice alongside her.
A team led by Anders Stubbe Arndal
and Nicolai Helms is currently advising Green Power Denmark regarding an amendement of the general distribution grid connection terms to allow electric vehicle charger providers to operate electric power meters behind the main power meter. This has the potential to facilitate a faster roll-out of electrical vehicle charging infrastructure in the country.
Thomas Kaas handles a number of high value green finance deals, including his recent advice to Nordea Danmark Filial af Nordea Bank Abp in respect to the refinancing of a DKK 11.2bn sustainability-linked senior facilities agreement.
To reduce its own footprint the firm is engaged with EcoVadis to document and monitor its upstream value chain with regards to environment, labour and human rights, ethics, and sustainable procurement. Following its first examination, the firm was awarded a bronze medal and is now taking the necessary steps to improve this rating to gold.
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Kromann Reumert
Leading law firm Kromann Reumert was the first Danish law firm to become a member of the UN Global Compact and strategically implements sustainable values into everyday practice.
Co-head of its ESG practice Maria Holst Levin has a deep knowledge of the energy sector and corporate governance. She has recently led on some major renewables work including the sale of three different biogas companies and advises clients in the growing hydrogen sector. Holst Levin is also a member of the Danish Law Firm Association’s Climate Committee. Jacob Høgh Madsen leads the ESG practice alongside her.
A team led by Anders Stubbe Arndal and Nicolai Helms is currently advising Green Power Denmark regarding an amendement of the general distribution grid connection terms to allow electric vehicle charger providers to operate electric power meters behind the main power meter. This has the potential to facilitate a faster roll-out of electrical vehicle charging infrastructure in the country.
Thomas Kaas handles a number of high value green finance deals, including his recent advice to Nordea Danmark Filial af Nordea Bank Abp in respect to the refinancing of a DKK 11.2bn sustainability-linked senior facilities agreement.
To reduce its own footprint the firm is engaged with EcoVadis to document and monitor its upstream value chain with regards to environment, labour and human rights, ethics, and sustainable procurement. Following its first examination, the firm was awarded a bronze medal and is now taking the necessary steps to improve this rating to gold.
Bech Bruun
Full-service Danish law firm Bech Bruun is well regarded in the Danish renewable energy market, having advised on several high-value transactions helping to shape the energy infrastructure landscape in the country.
With the Danish Parliament deciding that CCS projects will play a key part in achieving Denmark’s climate policy objectives, the energy team led by Johan Weihe is assisting Vestforbrænding with its participation in the first CCS tender in Denmark, as well as in all legal aspects pertaining to the planning and construction of a major CCS facility in connection with a waste-energy-plant.
Co-head of the M&A practice, Simon Milthers, and the energy team act together on several transactions facilitating the energy transition, such as client KK Wind Solutions’ acquisition of the converter and controls business from Vestas Wind Systems A/S. The deal will strengthen the client’s global wind energy supply chain.
The team has also supported Tokyo Gas’ strategic expansion into renewable energy investment in Europe by advising the client on its 50% acquisition of and joint venture with Danish wind farm developer EWII A/S. The joint venture aims to develop more onshore wind farms in Denmark and expand the capacity in the Nordics to 1 GW by 2030.
Via the Bech Bruun Academy, the firm’s specialists share knowledge on sustainability and the green transition through seminars, courses, and events. Furthermore, the firm’s collaboration programme BB-Impact focuses on providing legal advice to sustainable start-ups which promote at least one of the UN SDGs.
The firm’s new head office located at the tip of Nordø in Copenhagen will be certified to a DGNB Gold standard.
Bruun & Hjejle
UN Global Compact signatory Bruun & Hjejle in Denmark is involved in some of the most significant renewable energy and green financing developments in the country.
A team led by Anne Cathrine Ingerslev represented European Energy on all legal aspects of the offering of €300m green bonds and the establishment of a €45m green revolving credit facility, which represent the largest corporate green bond transactions listed on Nasdaq Copenhagen to date. Ingerslev also assisted TDC Holding and its subsidiaries with several major transactions, including the initial issuance of €500m sustainability-linked notes under TDC NET’s EMTN Programme.
Lars Kongsgaard, who specialises in alternative investments in energy and infrastructure projects, and EU and competition expert Frederik André Bork are leading the advice to Copenhagen Infrastructure Partners (CIP) in connection with the upcoming tender for North Sea offshore wind hub, the world’s first energy island. Once complete this will have a minimum 3 GW capacity with the potential expansion to 10 GW. The innovative technology will also dramatically lower the production costs of green energy and is a key component of the Danish Government’s commitment to leading the green transition.
In addition to its contributions to the green transition through legal services, the firm has collaborated with global consultancy Rambøll to map its direct and indirect emissions of climate gasses in a carbon report according to the Greenhouse Gas Protocol with the aim of further reducing its own emissions.
DLA Piper
In Denmark, DLA Piper is a go-to firm for clients seeking advice on matters pertaining to renewable energy.
A team led by Per Vestergaard Pedersen is providing advice to the Greenland Government regarding hydropower operations in the country, including granting exploitation licenses and environmental regulatory issues, thereby supporting the country’s green transition.
In another cross-border matter, the group also assisted Faroese national power company ELFELAGIÐ SEV with its refinancing worth Kr. 2.4bn, which is to be used to support the Faroese Government’s green energy policy, including the ambitious goal for the Faroe Islands to be powered by 100% green energy by 2030.
Alongside its work for clients, the firm also seeks to raise awareness and improve education on climate change mitigation and adaptation. A team in Denmark developed training on the Aarhus convention and environmental justice.
The firm’s global commitment to sustainability is evident in its early signing of the UN Global Compact in 2013. It has since received ISO 14001 and 50001 certifications, and certification from the Carbon Trust.
Sustainable Law
In Denmark, Merete Larsen founded real estate and property development specialist firm Sustainable Law in March 2021 with the aim of driving forward the green agenda through its legal work. The law firm is structured in accordance with this agenda and the three principles of people, profit, and planet, internally focusing on low-impact consumption.
An ongoing client of the firm is Balder Danmark, which is developing a sustainable residential suburban area including 370 residential units that are all to be certified with DGNB Gold; Larson and Julia Lisa Feuerhake provided strategic advice on all legal issues surrounding the acquisition of the land and are continuing to assist throughout the development.
Since 2014 Larson has also assisted Carlsberg Byen with the large-scale development of the area which includes 25 green urban spaces and 6000 m2 of green roofing. The project will be one of the greenest city districts in Denmark and was pre-certified silver DGNB in 2013.
In another significant, sustainable property development, the team supported MT Højgaard with all legal matters surrounding the Teglsøerne project situated in the northern part of Zealand comprising 32,000 m2 of sustainable residential housing including a multi-generational housing concept which will be DGNB Gold certified.