Scribd Logo
Upload

Welcome to Scribd!

  • 13 views

    Day 2 Sustainable Solutions To The Climate Crisis Case Study Model Answer.01

    Uploaded by

    kalinovskaya
    The Legal Cheek Spring 2022 Virtual Vacation Scheme

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Day 2 Sustainable Solutions To The Climate Crisis Case Study Model Answer.01

    Uploaded by

    kalinovskaya
    13 views2 pages
    The Legal Cheek Spring 2022 Virtual Vacation Scheme

    Original Title

    Day_2_Sustainable_Solutions_to_the_Climate_Crisis_case_study_model_answer.01

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The Legal Cheek Spring 2022 Virtual Vacation Scheme

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    13 views2 pages

    Day 2 Sustainable Solutions To The Climate Crisis Case Study Model Answer.01

    Uploaded by

    kalinovskaya
    The Legal Cheek Spring 2022 Virtual Vacation Scheme

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    The Legal Cheek Summer 2022 Virtual Vacation Scheme in partnership with The University

    of Law | Energy law: Sustainable Solutions to the Climate Crisis: case study model answer

    How central should ESG be to law firm strategy?

    ESG puts law firms in an unusual position of introspection. In their role as facilitators of
    change, they normally enable their clients to develop their business and governance
    strategies. ESG could not be a more prevalent trend amongst clients, with one study by
    Landmark Information suggesting that only around a third of law firms were able to meet
    the increased demand for ESG-related advice at the end of 2021. The pervasiveness of ESG,
    however, has not excluded law firms from their clients’ concerns. Considered as part of their
    clients’ supply chains, 87% of law firms surveyed also indicated that clients had inquired
    about their environmental efforts. This has made internal ESG policies a commercial priority
    for law firms.

    Furthermore, ESG is a powerful zeitgeist for up-and-coming generations. It is true that the
    cost of living crisis has tempered the appetite for ESG in some cases – primarily those who
    were more focused on PR. But the fact that PR is so prevalent, with it being a primary
    concern for companies in environmental litigation who fear losing in the court of public
    opinion, demonstrates the depth of the change. Although it is easy to point to others’
    failures, with research highlighting how just 100 companies are responsible for 71% of
    global emissions since 1988, it is clear that younger generations care profoundly about
    these issues and want to see broad change in their daily lives. This means that having strong
    ESG credentials is likely to be important to attracting and retaining the brightest young
    lawyers as they being their careers.
    Besides being in step with their clients’ and young lawyers’ interests and values, ESG also
    represents a striking opportunity for law firms. Companies offering innovative solutions to
    tackle ESG issues are expected to grow into a multi-trillion-dollar industry. Law firms are
    already looking to get involved in this space, with the likes of Slaughter and May supporting
    promising climate tech-focused startups with its Fast Forward programme and RPC
    launching an accelerator programme for ESG-focused tech companies. Elsewhere, in January
    DLA Piper became the first law firm to sign up to a Corporate Purchase Power Agreement
    (CPPA) to create a new solar farm that is expected to power 15 of DLA Piper’s European and
    UK offices. A CPPA is a long-term contract made directly with an energy generator, rather
    than middlemen such as electricity suppliers, that is often used to provide new renewable
    energy providers with secure long-term investment.

    In order to remain competitive, appealing to their future lawyers and able grow with some
    of the most exciting new companies and projects out there, law firms would be well-advised
    to ensure ESG values are deep-rooted into their outlook and strategy.

    You might also like