Allen & Overy advised Nigeria Sovereign Investment Authority in Carbon Reduction Joint Venture with Vitol
Allen & Overy advised Nigeria Sovereign Investment Authority in Carbon Reduction Joint Venture with Vitol
Allen & Overy has advised the Nigerian sovereign wealth fund, NSIA, on the establishment of CarbonVista. This is a joint venture with Vitol, the Swiss-based global energy and commodities company, that aims to invest in developing a range of carbon avoidance and removals projects.
Projects will commence in Nigeria, collaborating with local companies that have a demonstrated history of delivering high-quality projects, combining carbon offsetting with social outcomes that contribute to achieving the United Nations Sustainable Development Goals.
Moreover, the initiative aims to attract investment from funding partners to the voluntary carbon market to support Nigeria's government in achieving a more equitable energy transition in Africa. It also intends to provide efficient devices to rural households, reducing wood fuel consumption and associated greenhouse gas emissions, while saving them time and money.
The team from Allen & Overy was led by partners Tim Scales and MaameYaa Kwafo-Akoto and was assisted by senior associate Joba Akinola.
