Securities

  • Counseling Essential Utilities (formerly Aqua America Inc.) on ESG disclosures made in its ESG report, proxy statement, and Form 10-K. Essential Utilities eventually earned a favorable mention in a Donnelley Financial report on ESG matters.
  • Advising, for more than 20 years, several denominational pension plans on their ESG investment policies and practices and closely monitoring related fiduciary duty regulations
  • Advising the investment fiduciaries of several pension, 401(k), and 403(b) plans on new ERISA regulations for fiduciary duties related to investing plan assets in ESG funds
  • Counseling the boards of both public and private companies, investment managers, and investment funds in ESG matters and related fiduciary duty issues.
  • Drafting charters for boards of directors’ ESG committees, counseling companies on ESG committee agenda items, and coordinating with other board committees
  • Evaluating ESG mutual funds to determine if they were appropriate for our clients
  • Advising public companies on ESG/board diversity initiatives and requirements of institutional investors and proxy advisory firms
  • Counseling public company boards and governance committees on ESG matters related to board and executive recruiting, investor relations, shareholder activists, and setting the “tone at the top”
  • Drafting SEC required disclosures on ESG topics such as conflict minerals reporting, human capital management, board policies for diversity, nomination and governance processes, and environmental and other ESG related litigation
  • Advising public companies on ESG-related proxy statement disclosures, shareholder proposals, and proxy advisory firm voting guidelines
  • Helping fund managers design voting policies for proxies; form investment funds that target ESG-related matters; and implement family “mission” planning
  • Advising trustees and families in establishing ESG policies and determining whether trusts can or should be modified to permit ESG investing

Environmental

  • Drafting policy and legal white papers for industry-sector investors on the impact of implementing or cancelling environmental regulatory initiatives
  • Helping clients navigate the environmental justice landscape during the siting and development of major infrastructure, institutional, and private development projects
  • Advising clients in best practices for “greening-up” their energy, construction, and operational arms
  • Reviewing client sustainability reporting to ensure alignment with operations and governmental, regulatory, and public policy initiatives
  • Evaluating environmental claims in advertising and other public-facing statements
  • Developing strategies for implementing climate change action across diversified utility operations
  • Evaluating emission offset programs and buying/selling emission offsets

Energy

  • Assisted a Fortune 500 company in the negotiation of renewable energy/environmental attribute purchase agreements for approximately 1,500 megawatts of new renewable energy facilities being installed throughout the county, and these purchase arrangements result in the company being among the largest purchasers of green energy in the USA, and are a key component of its sustainable development goals
  • Assisted various public and private educational institutions in structuring renewable energy and credit purchase arrangements that help these institutions achieve their goals for environmental sustainability

Bioenergy and Project Finance

  • Represented approximately 20 institutional investors in the limited offering and sale of nearly $220 million of senior lien, tax-exempt revenue bonds issued in 2020 by the Southern Ohio Port Authority to finance the world’s first commercial-scale, virgin-grade polypropylene recycling facility
  • Served as bond counsel in connection with the 2020 limited offering and sale, on a current and forward delivery basis, of approximately $125 million of tax-exempt and taxable bonds to finance the development of a new digester in suburban Philadelphia to convert supermarket food waste into pet and animal feedstocks
  • Represented the underwriters in the financing of the development of a biofuels production facility in Oregon that converts woody biomass from timber harvest residuals and forest thinning activities into jet, diesel, and gasoline blendstock fuels
  • Represented the underwriter in connection with the limited offering of multiple bond issues from 2017-2020 for Fulcrum Sierra Biofuels, LLC for the development of biorefinery facilities in Nevada and related infrastructure improvements that will convert municipal solid waste to diesel fuel
  • Represented the underwriters in connection with the limited offering of bonds in 2018 for an affiliate of Equilibrium Capital Group to finance the second phase of an organic waste to RNG production facility that included the construction of two 3.3 million-gallon digesters and additional gas conditioning equipment that is to source local dairy cow manure and industrial food waste from the Phoenix area dairies
  • Represented the underwriters on a 2019 project to finance the development of a plastics recovery and recycling facility that will convert mixed polymer waste into gasoline blendstock and wax in Indiana