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Building the Sustainable Law Firm: Developing and Implementing an ESG Strategy


ISBN13: 9781787428072
Published: June 2022
Publisher: Globe Law and Business
Country of Publication: UK
Format: Paperback, A4
Price: £125.00



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With continued pressure from human rights organisations and socially conscious shareholders, investors, clients and employees, there is little doubt that every law firm must have environmental, social and governance (ESG) issues at the core of its business strategy.

However, the implementation of an ESG strategy should not be a box-ticking exercise; rather, it requires firm-wide commitment and involves the full integration of ESG criteria into the strategy, operations and ethos of the firm, in relation to both the firm itself and its dealings with clients.

Increased regulation, stronger business ethics and attitudes to climate change, environmental protection, employment standards, sustainable finance, risk and governance, community engagement, corruption and human rights are evolving at an unprecedented rate. As a result, the development of robust, long-term ESG initiatives in these areas can provide law firms with manifold benefits, including the opportunity to:

  • gain competitive advantage;
  • retain their license to operate;
  • make cost savings due to operational improvements;
  • attract, engage and retain clients and employees;
  • increase value and service offerings to clients through advising them on their own sustainability transformation; and
  • enter new markets.
This Special Report looks at the business drivers for sustainability in law firms and offers a practical toolkit to guide law firms on their ESG journey. It will make essential reading for all lawyers, law firm leaders and management teams who are involved in implementing sustainability strategies at both a firm and practice group level.

Subjects:
Legal Practice Management
Contents:
Introduction: The obvious link between business success and social and environmental consciousness
Part 1. What is ESG?
I. The 17 SDGs and the business drivers behind the SDGs
II. Trends and developments
III. The SDGs and the professional services industry, including the legal sector
IV. The business case for ESG/sustainability in law firms
Part 2. The different elements of an ESG strategy
I. Purpose, values and culture
II. Strategy, positioning, differentiating
III. Clients and practices
• Sectors and client’s business
• ESG practices
• Supply chain
IV. Talent: attraction, retention, motivation, development
V. Governance and operations in law firms
Part 3. Actions to be taken
I. Identify and commit
II. Develop targets and KPIs
III. Align sustainability and strategy
IV. Create business opportunities
V. Collaborate
VI. Measure, assess, report and communicate
Part 4. Case studies and examples of ESG policies and strategies