Across jurisdictions, regulators are tightening legislation around Environment, Social, and Governance (ESG) requirements. But as the expectations are constantly evolving, so are the regulations, and those not prepared could face significant disruption.
Historically, legal counsel has reacted to legislation with a somewhat defensive approach. But with ESG, there’s a real opportunity and incentive to be on the front foot and taking part in shaping legislation. For example, it would take significant time to establish standard ESG reporting targets by the way of legislation that can help increase transparency into complex supply chains. However, companies have the ability to immediately include enforceable clauses that encourage vendors to reduce and report emissions.
In a recent blog in World Commerce and Contracting’s Contracting Excellence Journal, our founder Amit Garg and Nancy Nelson from Abiz Corporation explore the role of legal counsel in developing and executing a corporation’s ESG strategy.