rePLANET Wildlife joint venture secures £600k investment

Lincolnshire joint venture company rePLANET Wildlife has attracted £600,000 of investment, based on a £2 million valuation, with the support of local law firm Shakespeare Martineau.

The new company, set up by majority shareholder Operation Wallacea Limited (Opwall) will provide carbon and biodiversity credits for companies seeking to invest in nature – either as part of their ESG (environmental, social and governance) commitments, such as net zero, or a more general desire to invest in this emerging asset class.

The company will help to protect and restore areas of high nature value, facilitate uplift in biodiversity and carbon stocks, and generate tradeable natural assets, specifically biodiversity and carbon credits.

In order to develop and measure the concept of biodiversity credits, the Wallacea Trust (registered charity 1078362) has formed a 50-strong Biodiversity Credit Working Group comprising large corporates, financial institutions, experts in different taxa and biostatisticians, to establish a method for an international biodiversity credit that could be traded in the same way as a carbon credit.

The investment will enable rePLANET Wildlife to implement its aims, making use of Opwall’s existing biodiversity sector expertise.

Director at Opwall Alexander Tozer said: “This is a really important venture for Opwall; the world is facing two major environmental threats – climate change and species loss, and while many companies want to be able to support nature, there is a lack of a transparent mechanism through which they can do this. This is where biodiversity and carbon credits come in.

“This is a sector that’s growing at pace, and we’re proud to be at the forefront of biodiversity credits.”

Lincoln-based law firm Shakespeare Martineau provided legal advice and support in setting up the joint venture, including the project documentation prior to investment.

Michael Squirrell, corporate partner at Shakespeare Martineau, who led the deal, said: “We’re delighted to support a Lincolnshire-based business make a positive step in combatting climate change.

“As a firm, we are becoming involved increasingly in ESG and net zero projects and with the breadth of knowledge across the firm, we’re well-placed to support organisations such as Opwall who are leading developments in this space.”

About Shakespeare Martineau

Providing legal advice for life and business, the firm’s purpose is clear: to unlock potential.

Working with organisations of all sizes, the firm delivers a broad range of specialist legal services and has expertise across multiple areas including but not limited to: energy, education, banking and finance, healthcare, investment funds, manufacturing, agriculture, family business, Islamic finance, later living, social housing, charities and real estate. Shakespeare Martineau also provides services for families and private clients.

Part of legal and professional services group Ampa, Shakespeare Martineau is a certified B Corporation, meaning it has been verified by B Lab to meet high standards of social and environmental performance, transparency, and accountability.

The firm has been listed in Best Companies 2022 as one of the top 100 best large companies to work for in the UK. It also ranked as a top 25 law firm, top 75 East Midlands company, top 75 West Midlands company, and top 50 large London company to work for.

With more than 1,200 people, Shakespeare Martineau has hubs in London, Milton Keynes, Birmingham, Solihull, Stratford-upon-Avon, Bristol, Nottingham, Leicester, Lincoln, Sheffield and Edinburgh.

For more information, visit shma.co.uk