Global law firm White & Case has won the Innovation Award at this year's IJGlobal ESG Awards, for our work with Botanic Gardens Conservation International in creating the world's first legal framework for trading biodiversity impact credits, or BICs.
The bespoke legal architecture enables measurable, science-based biodiversity outcomes. BICs represent units of tree species recovery and introduce traceability and accountability into nature-based finance, supporting conservation efforts for critically endangered species across multiple countries.
Dr. Paul Smith, secretary general at Botanic Gardens Conservation International, remarked: "With a third of all tree species threatened with extinction, BICs are the only easily measured biodiversity credit that directly address the extinction crisis. BGCI are delighted to have worked with the White & Case team, and to receive recognition for this innovation."
Stephen Shergold, partner and head of the London Environment & ESG team at White & Case, said: "We are so pleased that our work with BGCI has been recognized with this award. Designing the BIC legal framework—which required translating complex conservation science into a commercially viable, enforceable structure—demonstrates how law firms can play a leading role in creating scalable solutions for biodiversity finance and sustainable markets. We are grateful to BGCI for their trust and collaboration, which made this achievement possible."
The IJGlobal ESG Awards "honor companies, transactions and individuals making the greatest impact on sustainable development across the globe."
