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The role of the legal department in shaping the ESG strategy
The sustainability landscape is expanding and becoming increasingly diverse, complex and risk laden. As the emphasis on ESG is now a business imperative across all sectors and types of companies, they need to respond by creating new roles within their organisation chart, reshaping some positions, or looking for external help. The increasing importance of sustainability and ESG go hand in hand with the role of the corporate legal department.
The growing importance of ESG in the legal profession
Law firms and corporate legal departments are being challenged by the unprecedented growth of Environmental, Social and Governance (ESG) initiatives. In 2022, the Future Ready Lawyer Survey asked legal professionals about those demands, steps they are taking to address them and how prepared they are.
The role of the legal department in shaping the ESG strategy
Positioned as the intersection of legal, compliance and risk management, legal departments need to take the lead in ensuring that the ESG factors are not overlooked in their businesses.
Does your corporate legal department lead the ESG strategy?
It can be concluded that even if it does not carry all the ESG strategy, the corporate legal department has a leadership role in the ESG plan creation and establishment.
Software solutions to help with ESG
Legisway
Legisway is an all-in-one legal management software that designed to empower legal departments drive digital transformation and lead the ESG initiatives of their organisation. Learn how you can mitigate ESG risks proactively and provide better reporting on ESG to the Board to make informed decisions thanks to Legisway.
FAQ about ESG
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What is ESG?Environmental, Social and Governance (ESG) are non-financial factors that investors are increasingly considering when making informed decisions regarding risk management and exploiting new opportunities.
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Why is ESG important for lawyers?ESG plays a key role in measuring investments in businesses and determining the company’s sustainability, often based on an ESG based framework and a grading system.
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