GREEN GUIDE EMEA 2023: Israel
Herzog Fox & Neeman
Israeli law firm Herzog Fox & Neeman has one of the first environment and climate change practices in the country, led by Ruth Dagan. The practice has been active since 2005 and provides clients with legal advice on matters ranging from sustainability to circular economy and renewable energy. Additionally, over the course of 2022, the firm established a dedicated ESG task force, headed by Livnat Ein-Shay Wilder and comprised of partners across various practices including M&A, capital markets, banking, high-tech, and environment and climate change, among others.
The team also often gets involved in environment and climate-related policies and legislation, such as the National Chemicals Law, The National Climate Change Law, and the Bank of Israel Guidelines on Climate Risk Management in Financial Institutions. Dagan chairs the climate change and sustainability committee of the Israel Advanced Technology Industries, and is a member of the Israel America Chamber of Commerce Committee on Climate Change.
In an ongoing highlight, the team acted for Afcon Renewable Energy in the formation of a new fund committing €110m for investment in renewable energy projects in Europe. In a recent matter, it assisted a consortium of banks with a $5bn public offering of sustainability-linked senior bonds, representing one of the first of its kind by an Israeli company. The portfolio has also included matters concerning carbon reduction projects.
In 2021, the firm established an environmental committee, which evaluates the firm’s activities from a sustainability perspective and plans measures to reduce their environmental impact. Following the World Environment Day, the firm launched an eco-friendly initiative, Herzog #Greenstyle, which has taken a series of steps to reduce the generation of office waste and educate employees on reduction at source.
The firm has also recently led a programme for capacity building on climate change risk management within the banking sector, organising a series of seminars to introduce the subject to financial institutions in Israel. Futhermore, the firm joined 41 firms in participating in the World Law Group’s impact project for environmental sustainability organised by its Responsible Business Forum, headed by the firm’s impact investment practice area lead, Janet Levy Pahima.