DSK Legal Advised Climate Impact Partners On Afforestation Project With Terra Natural Capital And Microsoft In Madhya Pradesh

DSK Legal Advised Climate Impact Partners On Afforestation Project With Terra Natural Capital And Microsoft In Madhya Pradesh

DSK Legal advised Climate Impact Partners, United Kingdom (CIP) on its landmark 20,000-hectare Panna afforestation project in Madhya Pradesh, India. The project aims to remove three million tonnes of carbon and deliver extensive socio-environmental benefits to local communities.

As part of this initiative, CIP has partnered with Terra Natural Capital to deliver long-term finance to the Panna Project. Microsoft has committed to purchase 1.5 million tonnes of verified carbon removal credits over 30 years, representing 50% of the project’s total output. With local implementation partners, up to 11.6 million mixed native trees are to be planted across community and farmer lands. So far, over 1.2 million trees have been planted across 100 communities.

DSK Legal’s scope of work included:

(a) Assistance in relation to structuring of the transaction;

(b) Advisory in relation to carbon assets, real estate, Foreign Exchange Management Act, 1999, financing, data collection, etc.;

(c) Legal advice in relation to the carbon market in India, carbon credit trading scheme, Indian carbon market, and offset mechanisms;

(d) Incorporation of a subsidiary in India; and

(e) Drafting, reviewing, and finalizing various transaction agreements and ancillary documents such as the funding agreement, implementation agreement, and carbon rights agreement between the farmers/grantors, CIP, and the implementation partner.

The DSK Legal team representing CIP included Avinash Khard (Partner), Roochi Loona (Partner), Shruti Dogra (Associate Partner), Mala Mehto (Principal Associate), Brijesh Ranjan Sahoo (Associate), and Sumedha Tewari (Associate).

Aparajit Bhattacharya (Partner) acted as the relationship partner, Harvinder Singh (Partner) served as the lead transaction partner, and Anjan Dasgupta (Partner) provided strategic inputs throughout the deal.

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