IJGLOBAL shortlists ILP project for ESG Legal Adviser - Pro Bono Award 2023
Updated: Nov 24
ILP is honoured to announce its work on Green Hydrogen Standard and Guidance and principles for good green hydrogen contracting has been short-listed for the IJGlobal ESG Legal Adviser – Pro Bono Award for 2023. This work is in partnership with several law firms, including our partner, Herbert Smith Freehills.
The IJGlobal aims to recognise and celebrate infrastructure and energy organisations, transactions, and individuals that significantly advance the cause of environmental, social, and governance responsibility. These awards are a means to honour those who actively contribute to positive change in these critical areas.
This recognition serves as a testament to the transformative potential of the green hydrogen projects and underscores its importance in advancing the renewable energy landscape, making it a significant milestone for both our team and the broader industry.
As climate change accelerates, countries find themselves in a race against time to embrace sustainable strategies, particularly in the realm of energy. With our world heavily reliant on fossil fuels, which in turn contribute to a staggering 73% of global greenhouse gas emissions, the need for a swift transition to sustainable energy sources has reached unprecedented levels of urgency. The clock is ticking, and the imperative to act has never been more pressing.
It is in this context, the Green Hydrogen Organisation was founded and is representing a dedicated endeavour towards achieving a cleaner and more sustainable world.
In 2021, the Green Hydrogen Organisation embarked on a mission to offer essential legal guidance and expertise, aiming to establish a standardised model contract for green hydrogen projects. This was launched at the first ever Green Hydrogen Global Assembly and Exhibition in Barcelona in May 2022. The goal was to streamline and promote best contracting practices within the industry and ensure that development benefits the investors, host governments, and the communities where the projects are developed.
The organisation engaged an expert working group, which included ILP, to develop principles for decision makers, communities, and companies in developing contracting practices for green hydrogen projects. The working group developed a comprehensive guidance drawing upon insights from various sectors and emerging practices within the green hydrogen industry. The guidance not only emphasises established international standards and best practices but also offers valuable recommendations and model clauses for legislation and contracts wherever applicable.
The guidance covers 11 principles namely;
a) Policy and Regulatory Developments
b) Financing of Green Hydrogen Projects
c) Fiscal Terms and Incentives
d) Community Engagement and Transparency Practices
e) Land Acquisition and Use
f) Infrastructure Access and Common Use
g) Sustainable Development Contribution; and
h) Dispute Resolution
i) Offtake agreements and pricing
j) Local Content
k) The reduction of cost capital for green hydrogen projects and bilateral investment treaties
To access the recordings to the informative sessions conducted by the Green Hydrogen Organisation towards development of the guidance, click on the topics below: