Investment platform Invest Africa has partnered with global law firm DLA Piper to support the establishment of Environmental, Social and Governance (ESG) best practices for African renewable energy projects.

The delineation of, and compliance with rigorous ESG standards have become key criteria against which investment decisions are measured, as energy projects face mounting pressure to be both bankable and sustainable.

Through a series of online seminars – the first of which will take place on May 13 – the partners will unite experts across the fields of investment, development finance and law to develop financial and operational strategies aimed at improving ESG best practices within the continent’s green energy sector.

“Africa is extremely vulnerable to the impacts of climate change, despite being the world’s lowest contributor to global emissions. As the price of renewables fall, they will form an ever more important part of Africa’s electrification,” noted Veronica Bolton-Smith, COO of Invest Africa. “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 contributions to social inclusion.”

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Source: AfricaOilandPower