The Model Law on Institutional Investor-Public Partnerships (ML-IIPPs) has underpinned DLA Piper’s shortlisting for ESG Initiative of the Year at the coveted African Legal Awards 2023.
Now in their 10th year and hosted by Law.com international and partnered with the Corporate Counsel Association of South Africa (CCASA) and Africa Legal, the African Legal Awards recognise exceptional legal achievements and innovations impacting the African continent and the globe.
Africa’s legal and regulatory architecture in its current form requires significant improvement if it is to deliver the demands and needs of its NDC investment and Net Zero targets. This is especially true of capital formation at scale and accelerated capital deployment – fostered through fast tracked procurement, and an unprecedented acceleration of financial close (rate and volume) for bankable and investable green public and private infrastructure investment projects and programmes.
To remedy this, the African Green Infrastructure Investment Bank (AfGIIB) and DLA Piper, in collaboration with Africa investor Group (Ai) and the CFA Asset Owners Council (AoC), developed and launched the Model Law on Institutional Investor-Public Partnerships (ML-IIPP) at COP27, to facilitate the deployment of trillions of dollars of private capital, into Nationally Determined Contribution (NDC) and ‘green’ infrastructure programmes and projects across the African continent.
Launched in November 2022, the Model Law is an important initiative for the continent that has the power to fundamentally unlock capital investment at scale in green energy and infrastructure projects.
The importance of the ML-IIPP cannot be understated, given Africa is required to mobilise $3trn in order to meet its Nationally Determined Contribution (NDC) projects by 2030. Put into context, the whole world has only managed to mobilise $2.8trn for renewable energy investments over the past 20 years, with Africa only receiving 2% of that global sum.
Speaking about DLA Piper’s shortlisting for the award and the Model Law on Institutional Investor-Public Partnerships (ML-IIPPs), Dr Hubert Danso, Chairman, African Green Infrastructure Investment Bank (AfGIIB), explained “DLA Piper has worked tirelessly over the last 18 month consultative stakeholder process to support AfGIIB’s ambitions and vision in bringing this IIPP Model Law to life. Their ability to think outside the square and come up with a legislative solution that effectively takes into account and reflects our varying domestic and global public and private sector investor perspectives and the quality of the 130-page model framework, will significantly de-risk private capitals participation in the bounty of green infrastructure investment opportunities that will drive Africa’s and the world’s decarbonization and just energy transition”.
