The demand for comprehensive and standardised ESG reporting is expected to grow
Global law firm K&L Gates has acted for Sydney-based environmental, social, and governance (ESG) tracking and reporting platform FairSupply on its Series A capital raising.
Founded in 2019, the FairSupply platform provides corporate and institutional clients with visibility over ESG risk in supply chains and investment portfolio. The company was established by human rights lawyer Kimberly Randle and industrial mathematician and supply chain academic Dr. Arne Geschke.
“Despite increased societal and regulatory pressure to report on ESG impact, quantifying and gathering this data has never been more complicated, especially when assessing ESG further down the supply chain,” Randle said. “And while many companies have good intentions and want to prioritise ESG, the vast majority don’t have access to the knowledge or tools to properly assess, understand and make informed decisions to improve their ESG rating – but we’re changing that. This deal is instrumental to scaling that change.”
The capital raising was led by AirTree Ventures, a venture capital firm located in Surry Hills, NSW. Tidal Ventures, The Mineroo Foundation, and Queensland Investment Corporation also participated in the round.
The K&L Gates team advised FairSupply on all aspects of the capital raising. The team was led by Perth corporate partner Adam Levine and senior associate Ben Kiernan Green. They were supported by Cassandra Ferrier and Ellen Richmond. Privatus Capital Partners acted as corporate adviser to Fair Supply.
“ESG is very much front of mind of all organisations so we are thrilled to have supported FairSupply with this strategic capital raising, as a leader in the field of ESG tracking and reporting,” Levine said. “It is a testament to the hard work of Kim, Arne and the rest of the FairSupply team that they have been able to secure support from some significant and influential investors in the Series A capital raising."
With marked improvements on Australian companies’ ESG reporting over the last few years, Levine expects the requirements for more comprehensive and standardised reporting will continue to grow.