HWL Ebsworth has advised New Forests, the largest timberland investment manager in Australia, on a major forestry carbon credit investment jointly developed with Mitsui & Co. Ltd (Mitsui).
This large ESG initiative will be valued at approximately $50 million in the initial phase and has a projected carbon offset contribution of around 4 million tCO2e with the option for this to be increased following market demand.
The HWL Ebsworth team was led by Peter Dreher (Partner) and Dayne Johnson (Partner), alongside Thomas Kim (Partner), Jamie Restas (Partner), Graeme Dennis (Consultant), Adam Goldner (Special Counsel), Marianna Parry (Special Counsel) and Cam Steele (Special Counsel). Mitsui were advised by PwC.
HWL Ebsworth partner Dayne Johnson commented:
“This New Forests and Mitsui initiative is where investment has arrived – sustainability and carbon neutrality are core. As business transitions to a low carbon future, it is exciting to be advisors of clients with the vision and ESG commitment of New Forests.”
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HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by the Australian Financial Review.
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