Sustainable initiative wins award

DLA Piper awarded the 2023 Terra Carta Seal from the Sustainable Markets Initiative

• DLA Piper’s International business is one of 17 global companies to have been awarded the Sustainable Markets Initiative’s 2023 Terra Carta Seal
• Recognised for its transformative pro bono initiative, DLA Piper has used its experience to deliver innovation and positive climate transition change.
• The Terra Carta Seal recognises global companies which are actively leading the charge to create a climate and Nature-positive future
• Winners were selected by a panel of global experts from the environmental, business, political and philanthropic worlds
• Designed by Sir Jony Ive, the Terra Carta Seal embodies the vision and ambition of His Majesty King Charles III and the Terra Carta, as a recovery plan for Nature, People and Planet.

The Terra Carta Seal is awarded to companies which have demonstrated the success of a high-impact, large scale company-wide project, initiative or strategy which aligns with one or more of the Sustainable Markets Initiative’s ten Terra Carta Articles. The Articles underpin the Terra Carta, the Sustainable Markets Initiative’s guiding mandate which provides a roadmap and framework to accelerate the transition to an ambitious and sustainable future, placing Nature, People and Planet at the heart of global value creation. 

Legal and regulatory frameworks are often stated as a blocker to enabling change and a key investment barrier by global and domestic investors, in the context of delivering climate transition.  Addressing this through a transformative sustainability initiative, DLA Piper has used its practical experience in delivering innovation and positive change to apply the power of law to: support governments in the creation of enabling environments that will assist in the reduction of emissions and enable them to attract future investments, including private sector funds; develop novel procurement, contracting and financing models to deliver projects, including the provision of financial incentives; and support governments to participate in international climate and biodiversity negotiations.

The initiative, which has been carried out on a pro-bono basis, includes the development of a Model Law on Institutional Investor Public Partnerships to enable the fast tracking, de-risking and scaling of private capital participation into transition-related projects; the drafting of a Model Law on Carbon Tax with the purpose of reducing emissions, increasing investment and government revenue, and; the delivery of support to low-income countries to reduce national debt and support biodiversity by use of a ‘debt for nature’ swap.

DLA Piper joins 16 other companies spanning multiple geographies and industries to be awarded the 2023 Terra Carta Seal.

 Jennifer Jordan-Saifi, CEO, Sustainable Markets Initiative, said:  “The Sustainable Markets Initiative’s Terra Carta Seal recognises those companies which are taking great strides in delivering real-world outcomes. As we stand on the eve of COP28, public, private sector and philanthropic actors will come together at the inaugural Business and Philanthropy Climate Forum to bridge the gap between ambition and action. ?It is examples exemplified by the 2023 Terra Carta Seal winners that are helping to inspire and lead the way.”? 

Simon Levine, Global Co-CEO and International Managing Partner, said: “It’s an honour to be recognised by The Sustainable Markets Initiative for our International business’ pro bono sustainability initiative to use our practical legal experience to deliver innovation and positive change.

“It is vital that the private sector plays a key role in the fight against climate change, and that is why we have sustainability as a strategic pillar within our firm.”

The Terra Carta Seal was launched in 2021 at COP26 by His Majesty King Charles III when he was the Prince of Wales. Since its inception, the Sustainable Markets Initiative has awarded its coveted Seal to just 83 companies globally. 

For the first time this year, the judging process involved independent, external partners Verdantix and the Expert Review Panel, who worked together to assess the eligibility and impact of each nominated project against recognised global sustainability criteria.

David Metcalfe, CEO, Verdantix, said: “We are privileged to work with the Sustainable Markets Initiative, contributing our expertise in independent evaluation to the judging process. We take great pride in being an integral part of this esteemed global initiative, alongside a distinguished and diverse panel of experts. Together, we are dedicated to acknowledging and applauding the companies who lead the way in demonstrating their commitment to creating a sustainable future.”