Our work

New Zealand's Emissions Trading Scheme
Sole legal adviser to New Zealand's Ministry for the Environment on commercial legal issues associated with the development of the proposed Emissions Trading Scheme (ETS) in New Zealand. This advice built on the firm's previous advice to the Ministry of Economic Development on the design of the legal framework for emissions trading.

Development of carbon trading platform
Advised New Zealand's Ministry of Economic Development on legislative changes required to enable the New Zealand Stock Exchange to establish a carbon trading platform for the purpose of exchange trading Kyoto-compliant emission units.

World's first carbon deal for avoided deforestation
Advised the Government of Aceh (Indonesia) on a deal which will protect Aceh's rainforests from logging for up to NZ$1 billion in carbon credits over the next 30 years. This is the world's first carbon deal for avoided deforestation.

International trading of ERUs
Advised an international investment bank on the purchase agreement for the proposed sale of 250,000 Emission Reduction Units (ERUs) from a New Zealand wind farm for the purposes of on-selling in the EU emissions trading market. During the course of this deal, we identified a conflict between the New Zealand and United Kingdom interpretations of the relevant Kyoto Protocol rules, which led to legislative change in the United Kingdom.

Opportunities for generating CERs in Indonesia
Advised the Governor of Central Kalimantan (Indonesia) on options for generating Certified Emission Reductions (CERs) and voluntary units from a range of emission reduction projects.

ISDA-based Emission Reduction Purchase Agreement
Advised an international investment bank on International Swaps and Derivatives Association (ISDA) documentation and the bank's entry into one of the first New Zealand ISDA-based Emission Reduction Purchase Agreements for the purchase of CER units from TrustPower.

Carbon offset programmes
Advising an international airline on legal issues associated with the establishment of a carbon offset programme for its passengers and on the purchase of ERUs from a New Zealand Projects to Reduce Emissions project.

Polish electricity generator's purchase of New Zealand ERUs
Advised a Polish state electricity generator on the purchase of ERUs from a New Zealand wind farm.

Trade-exposed businesses
Advised trade-exposed businesses on securing amendments to the Climate Change (Emissions Trading and Renewable Preference) Bill (the Emissions Trading Bill) to enable them to obtain a free allocation of emission units as trade-exposed businesses.

Submissions to Parliament on Emissions Trading Bill
Advised a New Zealand electricity generator on its submissions to Parliament on the Emissions Trading Bill, its carbon trading strategy and template carbon trading documentation for domestic and international trading.

Australasian bank's securities over carbon credits
Advising an Australasian bank on taking security over carbon credits and over forest land subject to Permanent Forest Sink Initiative covenants or the proposed New Zealand Emissions Trading Scheme.

Dealing in futures contracts for carbon credits
Advising an international investment bank on the regulatory regime for carrying on the business of dealing in carbon credits and carbon credit derivatives in New Zealand, and applying to the Securities Commission for authorisation to deal in futures contracts under the Securities Markets Act 1988.

Chicago Climate Exchange
Advised on New Zealand's first voluntary carbon emission transaction on the exchange.