Carbon Markets

Businesses today understand the need to take action and tackle climate change, yet navigating the evolving regulatory landscape is not easy. Carbon markets play a crucial role in facilitating the exchange of carbon credits and emissions allowances, providing businesses with avenues to offset their carbon footprint and comply with regulatory requirements. We have extensive, industry-leading carbon markets experience across multiple jurisdictions. That includes advising clients across the entire voluntary carbon markets ecosystem, such as project developers, sellers, purchasers, intermediaries, governments and standard-setting bodies.

We continue to work on some of this sector’s most complex, high-profile and ground-breaking matters. We are also deeply engaged in the global carbon markets community. Our lawyers participate in industry and parliamentary working groups on both compliance and voluntary carbon market mechanisms, including the TheCityUK, Carbon Capture and Storage Association, and All-Parliamentary Working Group on ESG. Members of our team have also previously advised international institutions and think tanks, such as the Grantham Research Institute on Climate Change and the Environment and International Union for the Conservation of Nature. This involvement ensures that we remain at the forefront of developments in the sector, and are well-equipped to guide our clients through the complex and evolving carbon markets landscape.

Our approach is comprehensive and solution-oriented. We work closely with clients to understand their objectives and offer practical legal solutions that align with their business goals and sustainability commitments. Whether that involves structuring carbon crediting projects, negotiating emissions reduction purchase agreements, or navigating dynamic regulatory frameworks, we leverage our supply chain initiatives, we are dedicated to helping clients navigate the opportunities and challenges within carbon markets, and to make meaningful progress towards a net-zero future.

Our recent voluntary carbon markets and nature-based solutions experience includes advising:


In relation to its emissions reduction purchase agreements (ERPAs), as well as on the interpretation and application of Articles 6.2 and 6.4 of the Paris Agreement in relation to its proposed bioenergy with carbon capture and storage (BECCS) project in Selby

Spirit Energy

On its proposed Track 2 CO2 T&S project at Morecambe Bay, including on UK ETS issues pertaining to the project

The Integrity Council for Voluntary Carbon Markets

We are advising the Integrity Council for the Voluntary Carbon Market (“ICVCM”) on legal issues relating to developing and promoting the first global threshold benchmark for high-quality carbon credits. This ongoing work is helping to build trust and confidence, as well as increasing standardisation in voluntary carbon markets (VCM).


On its structuring and contractual arrangements to scale up the supply and demand of high-integrity nature-based carbon credits

SPIC International Finance

Advising on proposals to establish a Hong Kong carbon market

Grantham Research Institute on Climate Change and the Environment

On various legal issues under the UN Clean Development Mechanism

Australian Government

On legal issues pertaining to carbon crediting mechanisms and land use, land-use change and forestry (LULUCF) issues under the UNFCCC, Kyoto Protocol, and Paris Agreement

The Legal Response Initiative and Least Developed Countries Alliance

On legal issues arising from Article 6 of the Paris Agreement

A refinery company

On structured swaps for carbon credits

Various banks

On the financing of carbon credits generated by emissions reduction projects

Key Contacts

Exceptional team. Exceptional depth of knowledge and very solutions orientated in terms of closing out an acceptable and balanced agreement. Legal 500 UK