IMPACT Awards 2021

Law firm of the year: McDermott Will & Emery

Targeting the UN's Sustainable Development Goal (SDG) 4, which focuses on inclusive and quality education for all, McDermott Will & Emery played a vital role over the last year in structuring one of the largest cross border impact finance mechanisms targeting education of children across the globe.Ranajoy Basu

This role saw it act for UNICEF and the Education Outcome Fund (EOF) for its work designing a new outcomes programme for education systems. The team advised EOF and UNICEF in setting up a joint structure. EOF now operates as an independent trust fund hosted by UNICEF.

McDermott also advised, over the last year, on a social impact bond for a UK programme that provides counselling to vulnerable women in order to break the cycle of women who have experienced or are at risk of, repeated pregnancies that result in children needing to be removed from their care. This programme started in Derbyshire and is being rolled out in other parts of the country.

"McDermott Will & Emery's market-leading impact finance team have advised on some of the most innovative cross-border ESG related impact finance structures around the world," said Ranajoy Basu, partner at McDermott Will & Emery. "The team has pioneered some of the most groundbreaking impact bond structures targeting social interventions. Our team is passionate about making a positive impact through innovation and legal skills and shaping the future of this rapidly evolving industry sector."

In addition, the firm was also lead counsel on the Quality Education India Bond, which it says is one of the largest multiparty cross border impact bonds in the world.