Cover of February 2023 Bar News depicting a glass piggy bank

ESGs and ABCs in the February Bar News

A little over one year ago, the Harvard Business Review said that “virtually all of the world’s largest companies now issue a sustainability report and set goals; more than 2,000 companies have set a science-based carbon target; and about one-third of Europe’s largest public companies have pledged to reach net zero by 2050.” In other words, ESG is now the standard. But, of course, what the hell is ESG? Seattle-based attorney and sustainability consultant Nicole DeNamur explains in the newest issue of Washington State Bar News that ESG—which stands for Environmental, Social, and Governance—describes data and reporting that is steadily gaining in market demand and federal regulatory oversight.

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Hands holding crystal globe with ESG icons. Using technology of renewable resource to reduce pollution

Environmental, Social, and Governance: What Lawyers and Firms Need to Know About Accountability

Environmental, Social, and Governance (ESG) is essentially an investing framework that brings a broad range of what have traditionally been considered nonfinancial factors into financial decision-making and risk analyses. ESG expands corporate accountability beyond shareholders to include external stakeholder expectations on a variety of factors such as climate change, use of consumer data, and racial justice (among many others), which we broadly group into the three buckets of environmental, social, and governance.

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Green ethical business preserving resources, reducing CO2, caring for employees.

ESG and Law Firms Part 2: Understanding Emissions and Where to Start

In the first part of this series, we explored Environmental Social, and Governance (ESG)—what ESG is and the basics of what lawyers and law firms need to know about ESG. After reading part 1, you may be thinking: How will ESG impact my practice and my firm? We will answer that question here by exploring one of the ways that ESG may impact your law firm operations: client requests for ESG metrics and, specifically, greenhouse gas (GHG) emissions.

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