Partnership puts ESG front and centre of African renewable growth
Global law firm DLA Piper has partnered with African trade and investment platform Invest Africa to support the development of Environmental, Social and Governance (ESG) best practices in African renewable energy projects.
Clear ESG targets and measurements have become an increasingly important part of fundraising as investors seek to align their portfolios with sustainable growth.
For a continent boasting ample natural resources, this presents a significant opportunity for Africa’s green energy sector. However, renewable does not always equal sustainable and developing and articulating ESG metrics can pose a significant challenge to projects as they prepare investment rounds.
Veronica Bolton-Smith, COO of Invest Africa, said: “Africa is particularly vulnerable to the impact of climate change despite contributing very little to global emissions. As the price of renewables falls, they will form an ever more important part of Africa’s electrification.
“In this context, it is essential that projects be given the tools to apply best practice in ESG not only from an environmental perspective but also in terms of good governance, fair working conditions and contribution to social inclusion. I look forward to working closely with DLA Piper on this important topic.”
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