The following is an excerpt from Practice Perspectives: Vault's Guide to Legal Practice Areas.
Taylor Pullins is a partner in the Global Mergers & Acquisitions practice of White & Case and Head of the firm’s ESG & Sustainability Specialty practice. He advises domestic and international clients, particularly in the energy industry, on a broad range of environmental, health, and safety (EHS), environmental, social, and corporate governance (ESG), and energy transition matters. Taylor’s transactional practice involves the drafting and negotiating of environmental terms and indemnity provisions in complex business transactions, including mergers, acquisitions, divestitures, project financings, security offerings, offtake agreements, and various types of carbon credit transactions. In addition, Taylor assists clients with complex policy and business decisions relating to evolving regulatory and societal expectations around climate change and other ESG matters. He is also a core partner of White & Case’s Energy Transition practice and co-leads the firm’s work in carbon markets and abatement.
Describe your practice area and what it entails.
I advise clients on matters involving environmental liabilities and regulatory compliance in business operations and transactional opportunities. Increasingly, clients come to me for guidance on complex policy and business decisions relating to evolving regulatory and societal expectations around climate change and other ESG matters. A substantial volume of my transactional work is in carbon offset projects.
What types of clients do you represent?
I represent companies in a variety of industries, from sovereigns to financial institutions, from technology and consumer products to private equity. As a resident of the Houston office at White & Case, a significant percentage of my work is for energy companies. Increasingly, the nature of work involves transactions in the energy transition space (e.g., carbon capture, hydrogen, lower carbon fuels) and renewable energy projects (e.g., wind or solar power projects, battery storage).
Representative clients include Occidental Petroleum, 1PointFive, Invenergy, CVC Capital Partners, VIA Motors, Orbia, J.P. Morgan, Saudi Aramco, Calpine, EnCap Investments, Hess Corporation, TotalEnergies Renewables USA, InterPrivate III Financial Partners, Exxon Mobil Corporation, Continental Resources, and Sixth Street Partners.
What types of cases/deals do you work on?
I work on a variety of energy transactions, projects, and financings. In addition, I work with clients on climate change strategy, carbon offset deals, and other ESG matters. Representative matters include:
- Representation of Occidental Petroleum in the development of STRATOS, the world’s largest direct air capture (DAC) facility.
- Representation of Aramco in its acquisition of a 100% equity stake in Esmax Distribusción SpA, a leading diversified downstream fuels and lubricants retailer in Chile.
- Representation of EnCap Investments in its sale of Broad Reach Power LLC, one of the premier independent utility-scale energy storage and renewable energy platforms in the United States.
- Representation of Hess Corporation in its $750 million purchase of 37.5 million jurisdictional carbon credits from Guyana in one of the largest-of-its-kind deals aimed at protecting forests to combat climate change.
- Representation of TotalEnergies Renewables USA in its acquisition of 4 GWs of utility-scale solar and energy storage development projects across several U.S. states and power markets.
- Representation of InterPrivate III Financial Partners Inc. (NYSE: IPVF), a SPAC, in its $2.3 billion acquisition of Aspiration Partners, Inc., a global leader in sustainability-as-a-service solutions for consumers and companies.
- Representation of Exxon Mobil Corporation in its $1.15 billion sale of its Santoprene TPV Elastomer business, a manufacturer of rubbers used in the automotive, consumer, and construction sectors.
- Representation of Continental Resources, Inc. in its $3.25 billion acquisition of certain assets in the Permian Basin from affiliates of Pioneer Natural Resources Company.
- Representation of Sixth Street Partners, LLC, a global investment firm, in its $405 million acquisition of PDP assets in the Permian Basin from Laredo Petroleum, Inc.
How did you choose this practice area?
I grew up in the western United States, where water scarcity is a real concern. The frequent reminders of the need to preserve water resources were my introduction to both environmental law and principles of sustainability. Undergraduate coursework around Lake Tahoe and an introduction to the Keep Tahoe Blue campaign made strong impressions on me about the impacts of industrial water discharges. I became quite focused on learning more about the importance of responsible industrial operations and municipal planning.
Law school curriculum around environmental law has expanded and improved substantially since the time I was in school. Although the couple of courses I took introduced me to major federal environmental laws, it wasn’t until I spent a summer at a law firm after my second year that I learned what a career in environmental law could look like. To find an area of law in which I take strong personal interest was quite the refreshing revelation. Now I play a direct role in helping clients not only comply with laws, but also conduct their operations and planning in responsible, sustainable ways.
What is a typical day like and/or what are some common tasks you perform?
A typical day involves work on a variety of matters across geographies. It is common that I wake up to questions and requests in my inbox relating to projects in the Middle East or Europe. After addressing those matters early in the day, I typically focus on domestic client work. The type of work ranges from (i) providing environmental specialist support on transactions, project development work, or financings; (ii) advising clients on climate strategy or environmental compliance matters; and (iii) leading negotiations on carbon offset transactions.
What training, classes, experience, or skills development would you recommend to someone who wishes to enter your practice area?
The study of federal environmental law—as well as international environmental law—will provide a helpful baseline for those looking to enter my practice area. In addition, a strong understanding of administrative law will help attorneys advise clients on compliance matters as they see how regulatory agencies function. I also recommend that students and young attorneys seek out a variety of business transaction opportunities. Of course, a young attorney will benefit from a genuine interest in understanding the industries in which clients operate.
What is the most challenging aspect of practicing in this area?
The practice of law focused on ESG & sustainability faces substantial competition across law firms and business consulting firms. It’s important for attorneys who practice in this area to be able to articulate the need for legal analysis of risks and opportunities as opposed to just “strategic advice.” In addition, effective legal service regarding ESG matters requires a close understanding of the clients’ businesses, including a grasp on what drives business strategy. Moreover, the reality of shifting societal expectations regarding the role companies should play in relation to climate change, human rights considerations, and other ESG matters adds to the challenge of growing an ESG legal practice.
What is unique about your practice area at your firm?
The ESG & Sustainability practice at White & Case benefits from a unique global network with in-depth experience in substantive areas of environmental, social, and governance areas of law in key geographic regions. The breadth of client service in ESG areas at White & Case is truly differential. It is my privilege to serve as Head of the ESG & Sustainability practice.
Prior to joining White & Case in 2021, I worked in-house at a public oil & gas company. In addition to my legal responsibilities, I fulfilled the strategic role of director of sustainability. In this capacity, I engaged with shareholders, executive team members, the company’s board of directors, and a variety of internal and external stakeholders. I learned from these experiences the value of collaboration, clear communication, and accountability for business decisions in the areas of environment and social matters. I apply to my daily routine this pragmatic experience, which clients appreciate.
What are some typical tasks that a junior lawyer would perform in this practice area?
We see strong interest for experience in sustainability-focused matters from our younger colleagues. We strive to meet this demand with meaningful growth opportunities. I regularly work with junior lawyers in tracking and summarizing regulatory developments in ESG areas. Given our firm’s global positioning, junior lawyers create legal comparison analyses to advise clients on potential applicability across jurisdictions. On carbon transactions, I often staff deals with younger associates to see the deal from term sheet to signing. On regulatory advisory work, younger colleagues can perform benchmark comparisons across peer company disclosures and policies.
What kinds of experience can summer associates gain at this practice area at your firm?
Summer associates gain experience through research and writing opportunities in ESG areas for strategic thought leadership. In addition, we invite summer associates to participate in our monthly ESG team calls and to get involved in client-chargeable matters on contemporary ESG topics.