London — Mayer Brown was recognized in the Best philanthropy engagement category at this year's MPF Awards, held at the London Marriott on March 5.
The firm received the award for its advisory role on a pro bono project led by two London partners, Colin Scagell and Ed Parker.
Partner and global head of Derivatives & Structured Products at Mayer Brown, Edmund Parker, commented: "Weather derivatives and bespoke climate-linked proprietary indices, were combined to support microfinance institutions in Africa and Asia.”
Mayer Brown worked with Global Parametrics on a pro bono basis advising on the initial structure, as well as corporate and regulatory matters; and subsequently on the creation of a complex OTC weather/catastrophe derivative, working to structure and document the first transaction with VisionFund. This derivative product has the potential to be replicated on a larger scale and applied in other settings.
This success follows the firm's 2018 FT Innovative Lawyers Europe commendation for the same project.