DOCSLIB.ORG

Environmental, Social & Governance Law 2021

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Environmental, Social & Governance Law 2021 Environmental, Social & Governance Law 2021 A practical cross-border insight into ESG law First Edition Featuring contributions from: BAHR Herbert Smith Freehills LLP Schellenberg Wittmer Ltd Bowmans Herzog Fox & Neeman Stikeman Elliott LLP Brown Rudnick LLP Macfarlanes LLP SustainAdvisory Galicia Abogados, S.C. Mannheimer Swartling Travers Smith LLP Grimaldi Studio Legale Advokatbyrå Wachtell, Lipton, Rosen & Katz Haynes and Boone, LLP Maples Group Wolf Theiss Herbert Smith Freehills Nagashima Ohno & Tsunematsu Table of Contents Expert Chapters Moving Forward With ESG: Considerations for Boards and Management 1 David M. Silk & Carmen X. W. Lu, Wachtell, Lipton, Rosen & Katz Incorporating Sustainability into Debt and Equity Financing 7 Emma Russell, Emily Fuller & Deborah Low, Haynes and Boone, LLP ESG and UK Pension Schemes: Challenges and Opportunities 12 Andy Lewis & Jonathan Gilmour, Travers Smith LLP ESG and Litigation: The Outlook for Shareholders and Listed Companies 16 Ravi Nayer, Razzaq Ahmed & Tom McDonnell, Brown Rudnick LLP ESG and Corporate Strategy: A Cross-Sectoral View 28 Rebecca Perlman, Silke Goldberg & Iria Calviño, Herbert Smith Freehills LLP Q&A Chapters Australia Mexico 34 Herbert Smith Freehills: Heidi Asten, Timothy Stutt 85 Galicia Abogados, S.C.: Mariana Herrero, Maurice & Jacqueline Wootton Berkman, Carlos Escoto & Lorena Kiehnle Barocio Norway Austria 92 43 Wolf Theiss: Sarah Wared, Florian Kusznier & BAHR: Svein Gerhard Simonnæs, Asle Aarbakke & Claus Schneider Lene E. Nygård Poland Canada 97 48 Stikeman Elliott LLP: Vanessa Coiteux, Ramandeep Wolf Theiss: Marcin Rudnik & Joanna Gąsowski K. Grewal & Catherine Grygar South Africa 104 Bowmans: Ezra Davids & Ryan Kitcat Ireland 57 Maples Group: Peter Stapleton, Ronan Cremin & Sweden Jennifer Dobbyn 112 Mannheimer Swartling Advokatbyrå: Patrik Marcelius, Cecilia Björkwall & Joel Palm Israel 63 Herzog Fox & Neeman: Janet Levy Pahima, Switzerland Liat Maidler & Daniel Kaczelnik 119 Schellenberg Wittmer Ltd: Christoph Vonlanthen, Lorenzo Olgiati, Fabio Elsener & Giulia Marchettini Italy 71 Grimaldi Studio Legale: Riccardo Sallustio United Kingdom SustainAdvisory: Francesca Fraulo 126 Macfarlanes LLP: Tom Rose & Olivia Seeley Japan USA 79 Nagashima Ohno & Tsunematsu: Kiyoshi Honda 136 Wachtell, Lipton, Rosen & Katz: David M. Silk & Carmen X. W. Lu 28 Chapter 5 ESG and Corporate Strategy: A Cross-Sectoral View Rebecca Perlman Silke Goldberg Herbert Smith Freehills LLP Iria Calviño ESG and Corporate Purpose has not only been driven by regulation but also by the growing recognition (by long-term investors, in particular) that value can In 1999, former United Nations (UN) Secretary-General Kofi be assessed with reference to a company’s broader stakeholder Annan threw down the gauntlet at the feet of the global busi- groups, as well as its shareholders. As a result, a number of ness world and called on it “to embrace, support and enact a set of core businesses have voluntarily made ambitious commitments to the values in the areas of human rights, labour standards, and environmental ESG agenda. In 2019, 181 of America’s top business and finan- practices”, proposing that the business world and the UN jointly cial leaders signed the Business Roundtable’s Statement on the initiate a “global compact of shared values and principles, which will give a Purpose of a Corporation,4 publicly committing to lead their compa- human face to the global market ”. Kofi Annan’s speech and invita- nies for the benefit of all stakeholders, including customers, tion resonated with business leaders worldwide and in July 2000, employees, suppliers, communities and shareholders. The the UN Global Compact was launched. This global movement, following year, the World Economic Forum (WEF) released which began as a small initiative involving just 44 companies, the new Davos Manifesto – The Universal Purpose of a Company in now has over 12,000 signatories and is the world’s largest initia- the Fourth Industrial Revolution5 – stating that companies should tive to advance corporate sustainability.1 pay their fair share of taxes, show zero tolerance for corruption, Since its earliest iterations in the form of the Equator uphold human rights throughout their global supply chains, and Principles – a set of risk management guidelines launched in advocate for a competitive level playing field. 2003 to help financiers assess the environmental and social risks Companies are facing significant and growing pressure involved in projects in emerging markets to which they lend from investors, consumers, employees, activists, regulators and – the emerging environmental, social and governance (ESG) society to take strong positions on ESG issues and to be trans- framework has expanded rapidly. In 2004, the UN Global parent on their progress. As noted in the WEF’s recent white Compact published its report Who Cares Wins,2 which first coined paper, “Embracing the New Age of Materiality: Harnessing the Pace of the term “ESG”, making the case that embedding ESG factors Change in ESG”, the majority of Millennials (67% according to into capital markets makes good business sense, leads to more the Boston Consulting Group (BCG)) expect employers to have sustainable markets and delivers better outcomes for societies. purpose and want their jobs to have societal impact. Given that In 2011, the UN continued to advance the ESG agenda, estab- Millennials and Generation Z employees make up 59% of the lishing its Guiding Principles on Business and Human Rights.3 workforce in 2020, this is a call that businesses are unlikely to In the regulatory arena, ESG has grown to encompass a broad ignore. The same white paper stated that, according to BCG, range of “soft” and “hard” laws and regulatory requirements 72% of European consumers prefer to buy products with envi- that create a framework for businesses, investors and lenders to ronmentally friendly packaging and that, globally, 46% of better meet expectations regarding the incorporation of mate- consumers are willing to forgo preferred brand names in favour rial ESG considerations into their decision-making processes. of eco-friendly products. Some 38% of global consumers also In the last few years, ESG factors have risen to the forefront of indicate the willingness to pay a premium for eco-friendly and business and investor mindset. This shift is largely due to (i) sustainable materials. growing demands from consumers, voters, activists and inves- Shareholder activism in relation to ESG matters also continues tors in relation to corporate transparency, and (ii) increasing to rise. The raft of shareholder resolutions in recent UK company regulatory and litigation risks associated with ESG, as soft law annual general meetings (AGMs) have covered ESG matters measures continue to be transposed into hard laws with “teeth”. across the board. In addition to broader corporate governance issues, particular concerns have included executive remuneration and pensions, board diversity and gender equality, and human Key drivers: Why does ESG matter for business? rights issues in supply chains. As some of the world’s largest asset managers, including BlackRock and Vanguard, step up their Businesses are increasingly cognisant of their duties to the activism in relation to climate change, the pressure for greater communities within which they operate. This shift in focus corporate transparency and disclosure is mounting. Environmental, Social & Governance Law 2021 Herbert Smith Freehills LLP 29 ESG investing has seen a meteoric rise, as asset owners and ESG factors into investment decisions suggest that ESG perfor- asset managers seek to reduce investment risk and maximise mance will play a growing role in the cost of, and access to, capital. risk-adjusted returns.6 One of the challenges that the growing This can already be seen amongst lenders, with demonstrably interest in sustainable investment products has underscored is “green” borrowers facing lower financing costs than “brown” the importance of ensuring that businesses and asset managers borrowers, and with a growing number of lenders incorporating produce clear and comparable ESG disclosures. The difficulty ESG metrics in their credit analysis and borrower evaluation. lies in the absence of a global, standardised ESG reporting framework; however, there are moves in that direction. New approach to due diligence Regulation Traditionally, buyers have focused primarily on a target’s histor- ical financial and operational performance and compliance, Businesses operating within (or with links to) developed econ- being more sceptical of medium- to longer- term projections. omies have been regulated for many years in areas such as anti- Non-financial issues used to be considered on the basis of the bribery and corruption, anti-money laundering, health and target’s current compliance with law and regulation as they safety, environmental concerns and employment matters. These stood at the time of the review. obligations are increasingly accompanied by disclosure and Due diligence for ESG issues requires a much broader ana- reporting requirements aimed at driving greater transparency, lysis of potential risk exposures for the target company, having which in turn is leading to increased levels of activism and litiga- regard to sector, products and jurisdiction. Now, more than ever tion risk as it becomes easier to scrutinise corporate behaviour. before, buyers need to examine carefully whether a target will Europe remains the leader in
Load more

Recommended publications
  • Herbert Smith Freehills Becomes Founding Signatory to the Charter for Black Talent in Finance and the Professions
    HERBERT SMITH FREEHILLS BECOMES FOUNDING SIGNATORY TO THE CHARTER FOR BLACK TALENT IN FINANCE AND THE PROFESSIONS 30 October 2020 | UK Firm news Herbert Smith Freehills has been announced as one of the founding signatories to a first-of-its-kind initiative, developed to increase representation of Black people in senior positions across legal and other professional services companies in the UK. Created by barrister Harry Matovu QC, the Charter commits firms to creating and maintaining an environment where Black talent can be identified, developed and promoted for the benefit of individuals and their organisation. It also commits signatories to support the recruitment of Black employees and their development and progression into senior roles by focusing on the entire executive pipeline. Commenting on Herbert Smith Freehills’ commitment to the Charter, Alison Brown, executive partner, says: "This has been an extraordinary year and one which it has become abundantly clear that action needs to be taken to redress the imbalances that have been allowed to persist in so many business environments. No marketplace can succeed in the long term if it fails to reflect the communities which it serves and the legal sector is no exception. Earlier this year we outlined ten actions for change to highlight our commitment to create a safe, supportive and respectful environment across the firm and the profession. We are proud to be one of the founding signatories of this Charter and are determined to ensure opportunities to attract and retain talent from Black and minority ethnic groups build an environment where everyone feels valued." The Charter outlines eight pledges that signatories to it will adhere to.
    [Show full text]
  • Exceptional Opportunities for US Law Students and US-Qualified Attorneys
    HERBERT SMITH FREEHILLS 1 EXCEPTIONAL OPPORTUNITIES FOR US LAW STUDENTS AND US-QUALIFIED ATTORNEYS HERBERTSMITHFREEHILLS.COM/CAREERS 2 HERBERT SMITH FREEHILLS CONTENTS WHy jOIN? OPPORTUNITIES APPLICATION PROCESS 02 Overview 05 Career opportunities for US law students 10 The call back process and US-qualified attorneys 03 The role of US-qualified attorneys at 10 Benefits Herbert Smith Freehills 05 Our US summer associate programs 11 Your application 04 Key reasons to join Herbert Smith 06 New York 12 Meet us on campus Freehills 07 London, Beijing, Hong Kong, Moscow and Singapore 09 Pro bono opportunities 2 WHY JOIN? HERBERT SMITH FREEHILLS OVERVIEW Herbert Smith Freehills is a leading global law firm, formed in 2012 by 24 the merger of international law firm GLOBAL REACH Herbert Smith and Australian-based 24 offices across Asia Pacific, EMEA and North America law firm Freehills. Herbert Smith Freehills has over 2,800 attorneys practicing in 24 offices throughout Europe, Asia, Australia, the Middle IMPACT CORPORATE RESPONSIBILITY East and the United States. Law and Justice Pro Bono Partnership Award 2012 CareerTrackers Trailblazer Award 2012 Our clients include many of the Best Corporate Responsibility Initiative, The Lawyer HR Awards 2011 world’s largest and most commercially successful organisations. We offer our clients an integrated service, guiding them PREFERRED through their corporate, dispute CLIENT SATISFACTION resolution, employment, finance Best Professional Services Firm and Best Law Firm and real estate matters. We deliver (revenue over US$200 million), BRW Client Choice Awards 2013 to our clients comprehensive, seamless support from our global NORDIC GROUP HONG KONG FRANKFURT SINGAPORE network of offices across the world.
    [Show full text]
  • Responsible Business Report UNGC 2020
    2020 RESPONSIBLE BUSINESS REPORT RESPONSIBLE BUSINESS REPORT 2020 HERBERT SMITH FREEHILLS Welcome This year has been an extraordinary year. some time to further diversify the make- Finally, 2020 saw the start of the The human cost and disruption caused up of the firm, those conversations made ‘Decade of Action’, an initiative by the UN by the Covid-19 global pandemic are it clear that more had to be done. In to accelerate delivery of the Sustainable difficult to overstate. In addition to the response to this, we unveiled our “10 Development Goals (SDGs), and I am pandemic, in the last 12 months, we have Actions for Change”, an ethnicity delighted to share with you our fourth also seen bushfires devastate large areas framework and measure of accountability communication on progress, a report that of Australia, widespread protests and for every region in our global network to not only demonstrates our commitment calls for racial justice following the killing create meaningful change, for our people to the SDGs and the UN Global Compact of George Floyd, as well as a mounting and our communities. We know that (UNGC) Principles but also recognises international movement pushing climate progress against the Actions is only a the challenges we face. We still have a lot protection into the global consciousness step on our journey to address these to do and will continue to embed the in a way that we have not seen before. challenges but that should not deter us principles of the UNGC and SDGs in our from setting goals. day-to-day activities to support positive I have been proud of our firm’s response change in sustainable business practices, to these challenges, which has We have developed innovative ways of which we know is a key motivation for so emphasised our passion for justice and working to enable continued delivery of many of our people.
    [Show full text]
  • WTR 1000 Preview: the Global Legal Powerhouses
    Feature By Nicholas Richardson, Mary Hawkins and Simon Messenger WTR 1000 preview: the global legal powerhouses The next edition of the World Trademark Review 1000, owners when selecting legal counsel close to home, as well as in often released in January 2014, comprehensively unfamiliar and challenging jurisdictions. With many brand owners focusing on key regional markets, the identifies the world’s leading trademark firms listings for the 2014 guide have been grouped on a regional basis. In and practitioners. In this preview, exclusive to advance of publication of the 2014 edition, the tables in this article WTR subscribers, we identify the firms which have reveal those firms which have achieved a listing in more than one achieved a listing in more than one region, as well region, as well as those which are home to the largest number of as those which are home to the largest numbers of independently recommended practitioners. The variety of firms included reflects the health of the trademark independently recommended practitioners marketplace and the diverse needs of clients and those law firms referring work onwards. The WTR 1000 is thus an essential guide in strong brand is vital to success in today’s intensely today’s brand-focused economy. competitive and increasingly globalised market. Trademarks are key tools through which businesses Adams & Adams can protect the goodwill and reputation inherent in Recommended in regions: 1 A their brands, and build and maintain demand for Recommended individuals: 8 their products and services. External advisers play a crucial role in developing and implementing brand strategies for both local and South African IP titan Adams & Adams has eight individuals international markets, and in protecting these vital assets in the face recommended in the WTR 1000 2014 – one of the highest numbers of infringement.
    [Show full text]
  • Netherlands �������������������������������79 C E Schillemans, E M M Besselink, E M R H Vancraybex
    PRIVATE LITIGATION GUIDE Editors Nicholas Heaton and Benjamin Holt © Law Business Research PRIVATE LITIGATION GUIDE Editors Nicholas Heaton and Benjamin Holt Reproduced with permission from Law Business Research Ltd This article was first published in December 2019 For further information please contact [email protected] © Law Business Research Publisher Clare Bolton Business development manager Natalie Hacker Editorial coordinator Hannah Higgins Production editor Katrina McKenzie Subeditor Rakesh Rajani Editor-in-chief David Samuels Published in the United Kingdom by Global Competition Review Law Business Research Ltd Meridian House, 34-35 Farringdon Street, London, EC2A 4HL, UK © 2019 Law Business Research Ltd www.globalcompetitionreview.com First edition No photocopying: copyright licences do not apply. The information provided in this publication is general and may not apply in a specific situation, nor does it necessarily represent the views of authors’ firms or their clients. Legal advice should always be sought before taking any legal action based on the information provided. The publishers accept no responsibility for any acts or omissions contained herein. Although the information in this is accurate as of October 2019, be advised this is a developing area. To subscribe contact [email protected] Enquiries concerning reproduction should be sent to Law Business Research, at the address above. Enquiries concerning editorial content should be directed to the Publisher – [email protected]
    [Show full text]
  • Glimmer of Hope in a Difficult Time: Victoria Mataczynski
    GLIMMER OF HOPE IN A DIFFICULT TIME: VICTORIA MATACZYNSKI 08 September 2020 | Alumni Profile It sounds like a miracle product: eco-friendly, biodegradable in seawater, fluid-repellent, strong, adaptable, sterilisable, reuseable and customisable into different applications. No wonder that this material – called BioHastalex and derived from graphene – could serve many purposes as a revolutionary replacement for plastic in future. One we should all be looking out for. Victoria Mataczynski, an Australian lawyer and alumna of Herbert Smith Freehills, is a co- founder of Nanoloom, the company formed to manufacture BioHastalex. She is currently leading the company’s drive to obtain funding to enable it to start manufacturing at scale. She explains how the company came about: “BioHastalex was developed by a company called NanoRegMed and developed by Professor Alex Seifalian, a materials scientist, someone who I had met in London. “As everybody else, I was amazed by his invention and wondered why it was not being mass- produced. Alex told me of the difficulties of commercialising such a scientific product. With my background in law and head for business, I thought this was an amazing opportunity. Hence, we started Nanoloom. For us, BioHastalex is the way to go, and we can help to reduce the amount of plastic finishing up in our oceans. We are capitalising on a tide of consumer and regulatory sentiment.” Victoria has been promoting the product far and wide and received huge interest, but ultimately the commercial applications depend on seeing the product being used. “It is what people, in a material science context, call the ‘valley of death’,” Victoria continues, “the gap between the time when the innovation is created and being able to commercialise it.” That said, the opportunity is huge – for example, a number of car manufacturers have indicated that they could use BioHastalex to make car seats (a “game changer”, one said, if Nanoloom can pass the tests, which it is confident it can do).
    [Show full text]
  • Download the 2020 Review
    INSURANCE AND REINSURANCE DISPUTES 2020 REVIEW The contents of this publication are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication. INSURANCE AND REINSURANCE DISPUTES – 2020 REVIEW 01 Contents Preface Insurance and reinsurance Endurance Corporate Capital Ltd v Sartex Quilts & Textiles Ltd [2020] EWCA Civ 308 Court of Appeal confirms indemnity to be awarded on a reinstatement basis for damaged property which had not been reinstated . 05 Niramax Group Ltd v Zurich Insurance Plc [2020] EWHC 535 (Comm) Another recycling plant fire, another non–disclosure case . 08 Aspen Underwriting Ltd & Others v Credit Europe Bank NV [2020] UKSC 11 UK Supreme Court confirms bank named as loss payee under assignment of insurance policy not bound by exclusive English jurisdiction clause under the Brussels Regulation Recast 1215/2012 .. 10 UK Acorn Finance Ltd v Markel (UK) Ltd [2020] EWHC 922 (Comm) The better part of valour – limits on insurers’ absolute discretion . 13 Generali Italia SpA & Others v Pelagic Fisheries Corp & Another [2020] EWHC 1228 (Comm) English Commercial Court considers the application of the Recast Brussels Regulation when construing potentially conflicting jurisdiction provisions in insurance policies . 16 Young v Royal and Sun Alliance Insurance Plc [2020] CSIH 25 Scottish Appeal Court revisits first Insurance Act 2015 decision on whether an insurer had waived its right to disclosure . 18 TKC London Ltd v Allianz Insurance Plc [2020] EWHC 2710 (Comm) No business interruption cover for Covid-19 closure where policy requires property damage .
    [Show full text]
  • Just and Accountable Development
    Just and Accountable Development 2014 Annual Report & 2015 Review 38 COUNTRIES ISLP at Work 3 170 PROJECTS Letter from the Co-Presidents 4 Letter from the Executive Director 5 Natural Resources 6 Vulnerable Communities 6 Case Study: Kenya’s Kerio Valley 7 Investment, Trade & Tax 8 Economic & Social Development 8 Case Study: Liberia Boosts Small Businesses 9 Strengthening Media Freedoms 10 Supporting Civil Society 11 Law Firms and Barristers’ 57 Chambers Partnerships 12 LAW FIRMS Awards & Publications 12 Volunteers 13 10 LANGUAGES Donors 14 Financial Statements 14 Board of Directors and Staff 15 22,000 Law Firm Donors 16 PRO BONO HOURS 2 A GLOBAL IMPACT ISLP at Work ISLP’s mission is to foster just and accountable development which is sustainable, supportive of human rights, and strengthens the rule of law, by mobilizing our unique network of highly skilled and experienced pro bono lawyers to advise civil society and governments. NATURAL VULNERABLE CIVIL SOCIETY 25 RESOURCES COMMUNITIES SPACE COUNTRIES WITH ONSITE MISSIONS ECONOMIC ANTI- INVESTMENT, & SOCIAL CORRUPTION TRADE & TAX $9.5m DEVELOPMENT IN DONATED SERVICES 3 LETTERS Letter from the “ We cannot thank enough those of our many friends for generously Letter from the providing the financial, service, and moral support to permit us to Co-Presidents realize our dream.” Co-Presidents Dear Friends, would have worked in some 60 countries in sub-Saharan Africa, the Middle East, Asia, Latin America, and Eastern Europe; and that we would have a widely–recognized record As the 2014 Annual Report goes to press, ISLP has completed a comprehensive strategic of significant accomplishment.
    [Show full text]
  • Who's Who Legal: Thought Leaders
    Who’s Who Legal: Thought Leaders - Global Elite 2020 Arbitration .................................................................................................................................... 4 Asset Recovery ............................................................................................................................ 5 Aviation - Contentious ................................................................................................................. 7 Aviation - Finance ........................................................................................................................ 7 Aviation - Regulatory ................................................................................................................... 8 Banking - Finance ........................................................................................................................ 9 Banking - Fintech ....................................................................................................................... 10 Banking - Regulatory ................................................................................................................. 10 Business Crime Defence - Corporates ...................................................................................... 11 Business Crime Defence - Individuals ....................................................................................... 12 Capital Markets - Debt and Equity ............................................................................................
    [Show full text]
  • Innovative Lawyers 2016
    INNOVATIVE LAWYERS 2016 OCTOBER62016 FT.COM/INNOVATIVE-LAWYERS RESEARCH PARTNER SUPPORTEDBY Foreword Innovations abound with Europe in flux INNOVATIVE LAWYERS 2016 This editionofFTInnovativeLawyers, our11th, appears at a OCTOBER 62016 time of upheaval across thecontinent.Two bigconundrumsfor FT.COM/INNOVATIVE-LAWYERS thecitizens, businesses andinstitutionsofEuropewill test the foresightand ingenuityoflegal professionalsfor yearstocome: theaftermath of theUKvoteonJune23toleave theEU, and theintensifyingrefugee andmigrant crisis.Inthismagazine, we show howlawyers arealready innovating to address both (Brexit, page 8; Social Responsibility,page12). Thebusiness worldasseenthrough thelensoflawyers is changing too—new industries andalliancesare erodingthe RESEARCH PARTNER SUPPORTEDBY traditionallines of competitionand separation of sectorsfaster than ever,forcinglawyers to getahead.Lawyers areresponding by creating newtypes of firms,blurring oldboundaries in EDITOR Harriet Arnold search of newsolutions.The individual lawyer,the nature of ASSISTANT EDITOR legaladviceand theway in whichthatadviceisdelivered are Josh Spero undergoing deep change. PRODUCTION EDITOR George Kyriakos In addition,there arenew centresofpower andchangein ART DIRECTOR thelegal industry:millennialsrefusingthe partnershiptrack; Kostya Penkov DESIGNERS technologistsintroducing artificialintelligence; andgeneral Harriet Thorne, Callum Tomsett counselactingasentrepreneurs, rather than just as lawyers. PICTURE EDITORS MichaelCrabtree,AlanKnox Againstthisbackdrop, theFinancial
    [Show full text]
  • In Pursuit of New Process
    SPONSORED EDITORIAL BRIEFING TIGER TEAM In pursuit of new process Briefing’s inaugural Tiger Team exercise, a collaboration with technology consultancy Pinnacle, asks how law firm leaders have tackled the process transformations needed to respond to pressure much more rapidly in a remote-working world nspired by a problem-solving method experience. used by NASA, Briefing recently As lockdown was only just beginning to ease, I began a new programme of bringing our first scenario was perhaps inevitable – how diverse teams of law firm operational were firms keeping productivity, projects and cash experts together to address some of their common, flowing as smoothly as possible in a global crisis? but most critical, challenges. This is a Tiger Team All firms represented said they’d needed to act – a group that can circle a particular problem with much faster than usual in several key respects, and >> greater perspective thanks to their combined in fact it was suggested this had had something of a Tweet us @Briefinglegal 29 Briefing JULY/AUGUST 2020 SPONSORED EDITORIAL FEATURES “It has been necessary to be clearer about how people will work together, about who owns what, roles and responsibilities.” Kate Bassett, global head of legal project management and process improvement, Ashurst galvanising effect for the business of change and picking them up again can ultimately prove management. more costly. When you have the momentum, it can A lot of “questioning behaviour” that had often often be more efficient to complete then.” accompanied transformation projects in the past However, Allison Scanlan, director of business was no longer in evidence, said Ashurst’s global intelligence and finance and practice management head of legal project management and process systems at Herbert Smith Freehills, said priorities improvement Kate Bassett; perhaps as people can also change within a project.
    [Show full text]
  • Law Firms Join Forces to Ensure Firms Are Equipped to Have Conversations About Race
    LAW FIRMS JOIN FORCES TO ENSURE FIRMS ARE EQUIPPED TO HAVE CONVERSATIONS ABOUT RACE 25 January 2021 | UK Firm news As organisations across the UK continue efforts to improve ethnic diversity and promote better understanding of race, a number of the UK’s leading law firms have joined forces to provide guidance that will enable effective conversations about race and racism in the workplace. NOTICED, the UK’s first inter-law firm diversity network which is comprised of thirteen City firms, is today launching a new toolkit offering a structured approach to conversations which many individuals otherwise feel is difficult to have. The guide, which can be viewed here addresses a range of issues. It will help individuals identify and deal with micro-aggressions, understand what actions can help them be an effective ally and hold effective conversations in the workplace. The guide also offers a number of practical solutions that law firms can take to improve. These focus on hiring and promotion and how firms can expand support beyond the legal profession. The launch of the guide follows member firms having individually taken a range of actions to address issues relating to race and ethnicity in the workplace*. Law Society of England and Wales president David Greene said: “We are pleased to contribute to NOTICED’s toolkit and hope this provides a useful resource for firms. The events of 2020 and our recent research into the experiences of black, Asian and minority ethnic solicitors has shown that now more than ever it is important for firms and legal businesses to lead from the front and have frank conversations about how to create a more inclusive workforce.” Siddhartha Shukla, senior associate at Herbert Smith Freehills and co-chair of NOTICED, says: "Given the increasing focus on ethnic and cultural diversity following events of 2020, NOTICED was keen to provide something tangible for member firms and the wider legal community to use when trying to improve the quality of conversations about race in the workplace.
    [Show full text]