Bank of Ireland and Coillte Nature’s Introduction of Woodland Nature Credit

McCann FitzGerald advised Bank of Ireland and Coillte Nature on the creation and development of Woodland Nature Credit.

Bank of Ireland has developed a nature-based funding instrument that allows companies to fund large-scale afforestation in Ireland and record the environmental and social benefits of the new woodlands as part of their new sustainability reporting requirements.

The Woodland Nature Credit was developed for Coillte and Forestry Partners to plant native woodlands across Ireland.

This nature based funding solution for large scale non-commercial afforestation projects allows corporates to calculate the impact of woodland projects they are funding, including in terms of carbon sequestration, enhanced biodiversity and through the creation of a public amenity.  It is intended that the woodland nature projects will be implemented in line with the detailed and science-based criteria developed for afforestation projects in delegated acts issued under the Taxonomy Regulation (Regulation (EU) 2020/852).

The McCann FitzGerald team was led by Shane Sweeney (Picture), assisted by Valerie Lawlor and Éamon Ó Cuív.

Involved fees earner: Valerie Lawlor – McCann FitzGerald; Éamon Ó Cuív – McCann FitzGerald; Shane Sweeney – McCann FitzGerald;

Law Firms: McCann FitzGerald;

Clients: Bank of Ireland; Coillte Nature;

Federica Tiefenthaler

Author: Federica Tiefenthaler