The Special Report “Building the Sustainable Law Firm: Developing and Implementing an ESG Strategy” that was co-authored by our partner Robert van Beemen is out! This important publication that Robert co-wrote with his Venturis partner, Sophie Boyer Chammard, looks at the business drivers for implementing an ESG strategy in law firms.
We live in unprecedentedly turbulent times. Climate change, sharply declining biodiversity, war in Europe, an ever-widening gap between rich and poor, and a highly polarising society.
This Special Report does not discuss how law firms could organise philanthropic programmes or communicate their charitable efforts more efficiently to the market. It rather aims to make ESG the core of a firm’s strategy and positioning, embedded in its culture, client services, talent management, governance and processes. Robert and Sophie argue that it is not just about the roles and responsibilities of law firms in relation to climate change and declining biodiversity; it is about taking responsibility as a core principle of doing business that goes beyond the letter of the law.
They strongly believe that ESG is a global development that is fast reshaping national and international legal markets; it will eventually have a profound impact on the strategies, operations and market positioning of law firms. However, the complexity of the issues it encompasses – the relationships between the Sustainable Development Goals; the technicality of carbon footprint calculations; the amount of non-billable hours involved in understanding the impact of ESG on clients’ businesses; the balance between the firm’s business and financial interests and sustainability – may also deter law firms from taking proper action.
But by making sustainability an integral part of its strategy, a firm can develop a clear and winning competitive advantage. An ESG strategy can make a positive contribution to:
employee satisfaction and retention
- client attraction and loyalty
- risk prevention and cost reduction
- the development of new markets, product and services; and
- ultimately, revenues and profits, and the firm’s long-term sustainability.
Please contact our partner Robert van Beemen if you want to know more about what an ESG strategy can mean for your firm!
You can order your own (digital) copy from the publisher, Globe Law and Business at: https://www.globelawandbusiness.com/special-reports/building-the-sustainable-law-firm-developing-and-implementing-an-esg-strategy