The Legal 500 Green Guide: United States 2024

Rivlin is also conducting environmental diligence and ESG analysis for Apollo Global Management funds in their $265m structured investment to acquire an equity stake in US Wind, with the financing supporting the development and construction of an offshore wind project off the coast of Maryland.

Demonstrating further experience on important sustainable project financings, the firm advised on The Nature Conservancy’s Blue Bond for marine conservation in Belize. Within the innovative $364m transaction, the firm provided restructuring and financial advice, helping create a green approach to debt relief whereby the proceeds are split between reducing national debt and funding the protection of the country’s marine biodiversity zones.

For the Summit Carbon Solutions project – which will connect over thirty carbon-emitting power plants to a carbon capture, transport, and storage facility – the firm advised on structuring, project development, and debt and equity financing.

With a Science Based Targets initiative-approved target to reduce its greenhouse gas emissions by 50% by 2030, the firm is working to abate its direct carbon emissions as well as those emissions generated from its supply chains and procurement policies. 

Contributing to the development of green legal expertise, Rivlin also teaches on ESG at Columbia Law School. 

Significantly, Odell was part of the team advising American Express in its $3.5bn-aggregate sustainable notes offering to be allocated towards climate change mitigation and sustainable infrastructure projects. In another notable green deal, Jeff Karpf represented the managers led by Citigroup Capital Markets (Citi) in an aggregate $2bn green notes offering.

Internally, the firm promotes environmentally-friendly and sustainable practices through its cross-functional working group focusing on measuring and reducing emissions. The team also partakes in various voluntary initiatives to minimise its impact on the environment. For example, David Lopez, among others, represented The Nature Conservancy (a long-term pro bono client), in an unregistered offering of two green bonds totalling $412m to finance a variety of green projects including coastal protection, sustainable fisheries and forestries, and advancing solar and wind development.

All mentioned attorneys are based in New York.

In New York, the firm represented OGCI Climate Investments in its inaugural $1.5bn Decarbonisation Fund targeting energy transition investments in North America. In another first, Hugo Triaca advised Itau BBA U.S. Securities and Scotia Capital (U.S.) as purchasers in connection with the $390m inaugural green bond issuance by the Chilean electricity transmission company Sociedad de Transmisión Austral (STA).

The firm’s commitment to ESG goes far beyond its client-facing work. As a signatory of the UN Global Compact, it has integrated sustainability into its Responsible Business Strategy and Code of Conduct. The Environmental Board has developed its Net Zero by 2030 strategy which includes working with third-party experts Carbon Intelligence and establishing science-based targets.

The firm’s Global ESG Board benefits from the expertise of Washington DC-based disputes lawyer Steve Nickelsburg, who among other things brings his ESG insights to the Board of Visitors of Duke University’s School of the Environment.

In the electric-vehicle sector, the firm represented South Korean energy company SK Innovation in its $13.2bn joint venture with Ford to manufacture EV batteries in Kentucky and Tennessee. For the joint venture, which will construct three environmentally advanced battery plants and support the electrification of Ford’s vehicle fleet, the firm advised on JV formation and governance, IP licensing, and supply agreements. 

For LanzaTech – which transforms waste carbon into sustainable fuels, fabrics, and packaging – the firm advised on a $2.2bn business combination transaction with a publicly traded special purpose acquisition company, helping raise proceeds that support the development of the client’s innovative carbon capture technology. 

Kevin Poloncarz, San Francisco-based co-chair of the firm’s environmental and energy practice group, assists energy-sector coalitions in shaping future decarbonisation paths. In West Virginia v. EPA, Poloncarz helped secure an opinion which anticipates a role for the EPA to regulate power-sector carbon emissions in a manner which incentivises emissions trading systems and carbon capture and sequestration solutions. Elsewhere, for a coalition of electric utilities, Poloncarz helped reverse the EPA’s and NHTSA’s roll-back of strong greenhouse gas standards for light-duty vehicles while restoring California’s ability to set peculiar carbon targets above the national standard.

For banking industry trade groups – including the Financial Services Forum, The Risk Management Association, and the Institute of International Bankers – Caroline Swett has expertise in advocacy regarding climate-related proposals launched by financial regulators, particularly in preparing comment letters in response to proposals on climate-related financial risk. 

A key client is energy management company Schneider Electric, whom the firm advised on its acquisitions of electric-vehicle charging solution provider EV Connect and rooftop solar and energy storage online marketplace EnergySage. 

The firm’s sustainability thought leadership includes working with The Risk Management Association to establish its Climate Risk-Related Legal Discussion Group, convening this forum to provide general counsel at leading US banks a platform to discuss key climate issues. Additionally, the firm’s ESG Resource Center provides clients with briefing updates and state-level ESG investment and investigation trackers. Key contact Andrew Levine recently co-authored a publication on ESG-related regulatory and policy actions in the US and EU.

Vindicating the work of its Green Committee to implement a sustainable procurement policy, reduce waste through donating used cooking oil to help produce carbon-neutral biodiesel, and establish a carbon offsetting programme for air and rail travel, the firm attained a Silver American Legal Industry Sustainability Standard award for its eco-friendly practices. 

All mentioned attorneys are based in New York.

A team led by L.A.-based Carl Steen, serves as US counsel to Capital Power, supporting the expansion of its renewables portfolio in the country. For example, in its acquisition of the 100.5 MW Buckthorn Wind project. It also advised the company on federal legislative and regulatory actions related to carbon capture and utilization.

Other critical transition work includes guidance and advocacy for Gridwise Alliance on the federal economic stimulus policies for grid modernisation advancement. The firm also serves as US Counsel to the Canadian Electricity Association (CEA) on how Canadian renewable imports to the US might be treated under various federal proposals to incentivize clean energy or mitigate CO2 emissions. Public policy partner Andrew Shaw led on both of these.

Jeffrey Fort leads the firms’ efforts related to carbon offsets. 

The US corporate and finance practice assists clients with long-term sustainability visions, such as Sojitz on its joint venture with Braskem to produce and promote chemicals and plastics made from renewable sources (monoethylene glycol and monopropylene glycol).

In support of environmental conservation, Adam Kushner and Jim Banks in Washington DC provide counsel to numerous plaintiffs in a suit filed in the federal district court to challenge President Trump’s 2017 proclamation reducing the size of the Bears Ears National Monument by more than one million acres, leaving 85% of the Native American culturally and environmentally rich lands unprotected from resource extraction, grazing, logging, and vehicle use.

The firm has compiled its global coverage of ESG-related regulations in its Global Vision tool, allowing users to see a country-by-country breakdown of laws, regulations and standards impacting each jurisdiction. ESG360 is the firm’s assessment tool which supports clients in integrating ESG commitments into their business. Clients additionally benefit from the use of The ESG Academy, a podcast series aimed at helping organizations navigate key ESG issues. This also entails a series of explainer videos for industry and sector-specific breakdowns.

Recent hire in New York, Marius Griskonis assisted renewable energy developer Avantus with the sale of the construction-ready Big Rock 1 200 MW battery energy storage system project to Gore Street Energy Storage Fund. The transaction facilitates the deployment of the project and consequentially secures the reliability of renewable electricity on the Californian grid. 

In a landmark $2bn offering, the firm represented the Republic of Chile in its issuance of the first sovereign sustainability-linked bond. The interest rate of the notes is tied to the achievement of a 95 MtCO2e GHG reduction annually, the maintenance of a GHG budget under 1100 MtCO2e by 2030, and the expansion of renewable energy sources in Chile’s electricity mix to 60% by 2032.  

The firm is committed to making a positive impact within the legal community through pro bono work, taking instruction from B-Lab (who administer the B-Corp sustainability certification) on strategy, and advocating for environmental justice with Lawyers for Good Government to support the water crisis in Benton Harbor, Michigan.

In a complex renewable energy financing, the firm represented Morgan Stanley as tax equity investor in the Athos III 310 MW solar and 448 MWh battery energy storage system project. Further supporting the development of the energy transition, Paul Astolfi in Chicago acted for pension fund CPDQ on the sale of a $3bn stake in major wind and solar developer Invenergy Renewables.  

Anna Pinedo, a New York-based key contact in the green finance space, acted as counsel to Íslandsbanki in its issuance of $300m senior sustainable notes, which will be used to finance or refinance clean transport, circular economy, waste and pollution management, environmental protection and conservation, and renewable energy projects. 

Consciously seeking to complement its client advice on ESG issues, the firm published a responsible business statement which coordinates its sustainability operations. Alongside anticipating a science-based net-zero commitment to be achieved through improved energy and resource use, reorganised supply chains, and environmentally friendly office buildings, the statement places key emphasis on the firm’s pro bono offering. Such pro bono work has seen the Northern California offices supporting reforestation projects in Golden Gate National Park and advising on strategic matters for the Ellen MacArthur Foundation, which seeks to engage businesses, policymakers, and academics in achieving the transition to a circular economy. 

The firm is acting for various clients in the solar sector in their collective response to Auxin Solar’s petition with the US Department of Commerce, raising issues about the importation of concentrated solar power systems into the US. The petition caused uncertainty for every solar project in development in the country; clients turned to Carl Fleming, who has previous White House advisory experience, and his team to formulate the response which has resulted in some solar projects moving forward. Fleming is currently an appointee to the Biden administration’s Renewable Energy and Energy Efficiency Advisory Committee.

His team also represented Eni New Energy US in its acquisition of a portfolio of over 465 MW assets – namely the Corazon Solar plant and the Guajillo storage project. This is of particular importance as it is one of the largest solar plus storage hybrid projects in Texas and is representative of the client’s expansion into the US renewables market.

All mentioned attorneys are based in Washington DC. In Miami, Phil Tingle and Heather Cooper have expertise in renewable energy tax issues. In Los Angeles, another key contact is Ed Zaelke, global co-head of the energy and project finance practice and former president of the American Wind Energy Association who is also a founding board member of the Wind Solar Alliance.

In another highlight, the firm’s ESG group advised sustainable infrastructure investment platform Generate Capital on a cumulative $3bn fundraising from institutional investors to accelerate the deployment of sustainable infrastructure across the energy, waste, water, and transport sectors. It additionally assisted with the client’s conversion to a public benefit corporation, thereby more strongly imbuing environmental considerations within corporate governance. 

For carbon market-infrastructure platform Xpansiv – which helps companies meet their sustainability and emissions-reduction goals by hosting carbon offset, renewable energy credit, and low-carbon fuel transactions – the firm assisted in securing $400m in debt financing from Blackstone affiliates.

Decarbonisation investment platform GenZero sought the firm’s advice on its $200m indirect investment in the Bluesource Sustainable Forests Company, helping finance the acquisition of 1.8m acres of US forestland assets. The forests will be sustainably managed to help sequester carbon and achieve environmental co-benefits, consequentially generating carbon credits for voluntary and compliance markets. 

Through its Environmental Sustainability Committee, the firm developed climate-reducing goals and initiatives, is communicating with staff and stakeholders on how to reduce its operational footprint, and is supporting staff in developing eco pledges to boost sustainability practices at the individual and office level. 

Global head of ESG Michael Littenberg in New York is a go-to lawyer when it comes to supporting clients with their long-term business sustainability strategies, identifying and managing climate risks and opportunities. Clients include a large global automotive company and a large US-based global retailer. Littenberg also advises multinational companies on policies and procedures to address deforestation.

Particularly clients navigating differing state-level laws benefit from the firm tracking up-to-date ESG legislation across the country. Bloomberg utilises this research as part of its ongoing coverage of the matter. Furthermore, lawyers regularly contribute to articles on the most pressing ESG issues in the country, such as the new climate-related disclosures and targets.

Seven of the firm’s US offices have received LEED certification from the US Green Building Counsel; this includes the Chicago office which is the world’s first LEED Core & Shell Gold Certified building. The firm also has a demonstrable pro bono commitment when it comes to green issues, having partnered with both global and local environmental organizations including the Caribbean Biodiversity Fund, Blue Finance, and Green Pro Bono. It is also a participant in Stanford Law School’s Lawyers for a Sustainable Economy.

The team also conducted an environmental review and provided legal counsel for NantWorks LLC regarding its joint venture with the developer of an innovative seaport complex designed to promote ambitious sustainability goals.

Six of the firm’s US offices are LEED-certified, and the Chicago office is situated in a building which purchases 100% green energy. In 2019, the firm joined Lawyers for a Sustainable Economy, facilitated by Stanford Law School. Through the programme, the firm has pledged to contribute at least $350,000 annually in pro bono legal services to sustainability-focused non-profit organizations and small businesses. The Atlanta office has partnerships with The Nature Conservancy and  World Water Relief.

In another significant transaction, the firm represented Goldman Sachs, Itaú BBA, Santander and Scotiabank as initial purchasers in connection with the Republic of Chile’s Ps. 1 Tn sovereign bond offering. The Republic of Chile plans to match proceeds from the sale of bonds and invest in initiatives eligible green and social initiatives.

The energy and infrastructure practice is acting for Global Infrastructure Partners in the sale of 50% of its interests in Clearway Energy Group to TotalEnergies. This deal represents TotalEnergies’ largest investment in US renewables to date.

As a member of the Law Firm Sustainability Network, the firm has undertaken initiatives to measure its emissions and has engaged with the EPA Green Power Partnership to purchase renewable energy credits equal to 50% of its consumption as well as partnering with EcoVadis for a sustainability assessment. The firm also has a long-standing pro bono partnership with the Natural Resources Defense Council, and its headquarters are situated in a LEED-certified building.

Houston-based co-chair of the firm’s power and renewable energy practice, Archie Fallon represented Mitsui in a strategic alliance transaction with Sempra Infrastructure, Mitsubishi Corporation, and TotalEnergies to develop the Hackberry pipeline system and underground carbon capture facility, which will help decarbonise local LNG production.

The firm also advised renewable natural gas project developer Avolta on securing $300m funding to finance its development pipeline; the projects will capture methane emissions from large-scale American dairy farms to produce RNG which will qualify for renewable energy credits under the Renewable Fuel Standard programme.

Complementing pro bono work for environmental organisations including ClientEarth, Columbia Center on Sustainable Investment, and the Carbon Disclosure Project, the firm is a co-founder of the Renewable Energy Alliance Houston, where Fallon serves pro bono as general counsel.

Ahead of finalising science-based emissions-reduction targets, the firm’s Willkie Green team has abated internal emissions by locating all US offices in LEED-certified buildings, reducing waste and supply chain emissions, and curbing business travel. Currently, the firm is gold-rated by the American Legal Industry Sustainability Standard for its environmental impact management.