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Freshfields partners with Save the Children Global Ventures
Global law firm Freshfields has today announced its collaboration with Save the Children Global Ventures (SCGV) to fund child-focused climate adaptation in vulnerable communities, demonstrating the firm’s continued commitment to climate leadership.
SCGV acts as global children’s charity Save the Children’s vehicle for impact investing and innovative finance. As part of the Legal Charter 1.5, we have joined forces with other law firms for greater impact to develop and create a scalable platform (and model) for private sector funding of projects that meet the needs of families living in regions most vulnerable to climate change.
Initially, the focus will be on agroforestry and reforestation in and around the tea-growing areas of the Nandi region, western Kenya, where child poverty, malnutrition and food insecurity are high, and climate change is impacting farmers.
Among the eight participating law firms, the project has been spearheaded by Freshfields colleagues including Jake Reynolds, Head of Client Sustainability and Environment who chairs the Legal Charter 1.5 working group behind the partnership with Save.
The project breaks new ground in using carbon finance from the private sector to fund child-focused climate adaptation, reflecting the mission of SCGV to use innovative sources of finance to achieve longer term goals for children.
Jake Reynolds, Freshfields’ Head of Client Sustainability and Environment, commented: “Freshfields set a high bar on climate action through its ten-year funding of REAP, which concludes this year. Following 15 months of research and co-development with Save the Children, this new project, which builds on the outstanding success of REAP, is equally pioneering.”
Partner Vanessa Jakovich and associate Ben Collins worked on the drafting of the collaboration agreement underpinning the relationship between the Charter and Save the Children securing the initial US$5 million investment over 10 years. Save the Children is the world’s largest independent children’s charity, operating in 116 countries and this project has provided us with the opportunity to build, a long-term relationship with a key charity client in one of our chosen areas of focus, increasing the impact of our pro bono efforts.
Whilst providing revenues over 30 or more years to benefit children and families, the project has the co-benefit of generating high integrity carbon credits offsetting our carbon footprint. Additionally, it opens future opportunities for clients and other organisations to support child-focused climate action in priority locations where Save the Children works.
Notes to editors:
Further info on Freshfields’ environment practices and work can be viewed here.
For further info, see SCGV and Legal Charter 1.5
