Allcot AG and Carbon Growth Partners have partnered with SONAGED on one of the world’s first Article 6 projects.
A Philip Lee team, led by Lev Gantly and Niall Donnelly was pleased to advise Allcot AG and Carbon Growth Partners on this novel project which involves the funding and construction of a waste management facility in Touba, Senegal and the ultimate sale and export of mitigation outcomes under Article 6 of the Paris Agreement. The project aims to divert waste from 10 sites, converting it into organic compost – an eco-friendly alternative to chemical fertilizers. The initiative also tackles plastic waste through effective recycling processes.
Speaking about the deal, Lev Gantly said “This is an excellent example of a novel structure utilising the levers provided by the Paris Agreement to reduce emissions and create employment. We wish the parties every success in implementing the project and hope that many more follow this example.”
