Sara K. Orr
Overview
An extremely hard-working and knowledgeable environmental lawyer who does not miss a beat. - The Legal 500
Sara K. Orr is a partner in the Chicago office of Kirkland & Ellis LLP and advises clients around the world on environmental, social and governance (ESG) issues. She has almost two decades of experience working with private equity, corporate and financial institutional clients on thousands of transactions. Her practice specifically focuses on corporate sustainability programs, public company ESG reporting and disclosure, ESG litigation risk analysis, shareholder activism, corporate governance, ESG due diligence, supply chain and human rights issues, and ESG frameworks including the Equator Principles and IFC Performance Standards on Environmental and Social Sustainability. She plays a strategic role advising clients on ESG risks and opportunities important for sustainable long-term value creation.
Sara’s deep experience also includes advising sponsors and lenders on project financings of conventional and energy transition-focused projects and transactions, including wind, solar, biomass, and carbon capture, utilization and sequestration, liquefied natural gas (LNG), petrochemical, pipeline and other major infrastructure projects on five continents. Sara also provides strategic insights gained from more than a decade of Washington, D.C. experience, including expertise with federal environmental and energy policy issues.
Experience
Representative Matters
Since joining Kirkland, Sara has been involved in the following matters:
Public Company Counseling
- Counsel public companies on ESG related risks and opportunities including ESG governance, voluntary ESG disclosure, litigation risk assessments, climate strategy, human capital management, human rights, supply chain and biodiversity issues
- Advise public company clients on ESG vulnerabilities in connection with shareholder activism
- Advise on legal risks related to ESG communications including sustainability reports, articles, social media and other voluntary ESG disclosure
Capital Markets Advice
including in Bond Offerings, Initial Public Offerings (IPOs), Special Purpose Acquisition Corporation (SPACs) Formations and Combinations, and Disclosures
- Advise on ESG issues in connection with multiple IPOs and de-SPACs across industries
- Draft ESG-related disclosure in S-1s, 10-Ks, proxy statements and other public filings
- Advise on sustainable finance including green bonds, sustainability bonds and other ESG products
Private Equity/M&A
- Advise private equity firms on ESG policies, ESG due diligence, metrics, reporting, and external ratings and frameworks including UN Principles for Responsible Investment
- To date, conducted due diligence on hundreds of M&A deals advising on ESG risks and opportunities across sectors
- Advise on exit ESG considerations including sales and IPOs
Debt Finance
- Advise lenders on Equator Principles and other ESG issues in connection with project financing
- Counsel clients on sustainable finance structures including sustainability bonds, green bonds and loans, and other ESG related financial products
Prior to joining Kirkland, Sara was involved in the following matters:
- Anadarko Petroleum Corporation and TOTAL in connection with the financing of the development of the US$20 billion Mozambique LNG Project, named “Global Multilateral Deal of the Year” of 2020 by Project Finance International
- The underwriters in the US$240.6 million initial public offering for Beyond Meat
- A major mining company in connection with the development of a new US phosphate mine, including counseling on public lands management issues, NEPA, and litigation strategy
- The sponsor, Sasol Chemicals (USA) LLC, in connection with the development and project financing of a multi-billion dollar petrochemical project in Louisiana that Infrastructure Journal Global and Project Finance International magazines named America’s Petrochemical Deal of the Year 2014
- The underwriters on the US$582.9 million financing of Black Rock and NextEra Energy Partners’ acquisition of a portfolio of wind and solar projects from NextEra Energy Resources that Project Finance International named North America Power Deal of the Year 2018
Prior Experience
Latham & Watkins, 2005–2021
Bell Boyd & Lloyd, 2002–2005
More
Thought Leadership
Publications
“SEC Proposes New Climate Disclosure Requirements,” Kirkland Alert, March 24, 2022
“Cos. Must Prepare For Emerging ESG Risks In Supply Chains,” Law360, March 21, 2022
“European Commission Publishes Proposed Law Requiring Value Chain Human Rights and Environmental Due Diligence,” Kirkland Alert, March 7, 2022
“Recent Trends and Developments in Corporate Environmental Social Governance,” LexisNexis Practical Guidance, November 1, 2021
"New Framework Announced for Assessing and Reporting Nature-Related Financial Risks," Kirkland Energy & Infrastructure Blog, May 11, 2022
"ISSB’s Proposed Framework Seeks to Unify Global Sustainability Disclosure Standards," Kirkland Alert, May 11, 2022
"Greenflation: Are Commodity Prices Actually Rising?" The Environmental Law Reporter, May 2022
“Increasing Focus on Biodiversity-Related Financial Risk Presents New Challenges and Opportunities in Energy and Infrastructure,” Pratt’s Energy Law Report Vol. 22-2, February 2022
“Surging Sustainable Finance Market Presents Opportunities for Energy and Infrastructure,” The Real Estate Finance Journal,” October 1, 2021
“Preparing for Potential Updates to Human Capital Management & Board Diversity Disclosure Requirements,” Kirkland Alert, October 1, 2021
“Surging Sustainable Finance Market Presents Opportunities for Energy and Infrastructure,” The Real Estate Finance Journal, Fall 2021
“Corporate ESG Disclosure: Recent Trends and Developments,” LexisNexis Practical Guidance, October 8, 2021
“SEC Responds to Investor Demand for Climate Risk, Human Capital Management Disclosures,” Kirkland Energy & Infrastructure Blog, October 7, 2021
“Socially Conscious Leadership,” Risk & Compliance Magazine, June 2021
“Surging Sustainable Finance Market Presents Opportunities for Energy and Infrastructure,” Kirkland Energy & Infrastructure Blog, May 24, 2021
“Why the UN Sustainable Development Goals Matter to Clients,” American Bar Association, August 28, 2018
“Introduction to Corporate Sustainability,” LexisNexis, 2017
“The Department of Energy’s Simplified IIP Process Goes Into Effect in November,” Lexology, November 16, 2016
“US Fish and Wildlife Service Moves Forward With Proposed Eagle Rule Revision,” JD Supra, September 28, 2016
“White House Issues Final NEPA Guidance on Climate Change,” Breaking Energy, August 8, 2016
“US FWS Announces Record of Decision Streamlining Wind Energy Permitting for the Upper Great Plains,” Lexology, July 21, 2016
“6 Key Takeaways from the FWS’s Proposed Update to the Eagle Act Rules,” JD Supra, May 10, 2016
“Drilling Down on DOI's Oil and Gas Regulatory Agenda,” Law360, July 21, 2015
“Emerging Trends in Corporate Sustainability Reporting,” Law360, February 15, 2015
Speaking Engagements
Panelist, "ESG Considerations for Financing Your Deal," ALI CLE Webcast, May 25, 2022
Panelist, "ESG Criteria and Risks to Corporation and Boards: Establishing Measurements, Oversight, and Assessment," Strafford Webinar, September 23, 2021
Panelist, American Gas Association (AGA) Legal Forum’s Hydrogen Panel, July 26, 2021
Panelist, “The Role of Lawyers in Advising Clients on Effective, Long-term ESG Strategies,” IBA Webinar, July 14, 2021
Speaker, “Activism & ESG Developments: Lessons from the Exxon / Engine No. 1 Proxy Contest,” The Texas General Counsel Forum, July 7, 2021
Panelist, "Responding to Emerging Regulations," Strafford Webinar on ESG and Supply Chain, June 17, 2021
Session Panelist, “Climate Change: Finding the Opportunities,” Women Corporate Directors, September 2020
Panelist, Managing ESG Compliance in Complex Supply Chains, Strafford Webinar, June 17, 2020
Moderator, “Risk Hidden in Plain Sight: Exploring and Understanding the Corporate Supply Chain,” 4th Annual Sustainability Investment Leadership Conference, May 2019
Session Panelist, “Forecasting Petrochemical Industry Legal Issues,” EMLF Special Institute on Petrochemicals, April 2018
Session Panelist, “Reputation and Sustainability,” Sustainable Investment Leadership Counsel, November 2017
Session Moderator, “The Rapidly Expanding Natural Gas Market: How Will It Change Your Life?” American Bar Association 42nd National Spring Conference, March 2013
Conference Planning Committee, “Navigating the New Green Economy: The Challenges of Climate Change and the Opportunities for Clean Energy,” American Bar Association Standing Committee on Environmental Law, May 2011
Conference Coordinator, “The Environment: Chemicals Regulation–Reaching for TSCA Reform,” American Bar Association 38th National Spring Conference, June 2010
Recognition
Tier 1, Environmental: Transactions, The Legal 500 United States
Memberships & Affiliations
Member, American Bar Association Section of Natural Resources, Energy and Environmental Law
Member, Environmental Law Institute
Member, Rocky Mountain Mineral Law Institute
Credentials
Admissions & Qualifications
- 2002, Illinois
- 2020, Texas
- 2006, District of Columbia (inactive)
Education
- Harvard University Extension SchoolA.L.M., Psychology2021Dean's List Academic Achievement Award
- University of Michigan Law SchoolJ.D.2002Journal of International Law
- University of Illinois at Urbana-ChampaignB.A., Englishmagna cum laude1999Phi Beta Kappa