Irwin Mitchell Publishes Findings From Joint Research With Legal 500
Nine out of 10 companies have either implemented a formal ESG plan or are in the process of developing one, according to a joint report by Irwin Mitchell and Legal 500 publication, GC magazine.
Leading law firm Irwin Mitchell has partnered with Legal 500 to gauge the ESG outlook of leading corporate counsel across Europe and the United States.
The research, which documents the thoughts and opinions of more than 190 in-house lawyers, has discovered 69% have an ESG plan in place, with a further 27% stating they’re in the process of developing one.
When asked what their ESG plans included, the most popular response (42% of GCs) said their ESG policy contained a governance framework. This was closely followed by most plans containing published polices and guidelines, identification of ESG related risks, a named senior management sponsor and KPI monitoring and reporting. Lower on the agenda was identification of ESG related opportunities and setting SMART objectives.
The ‘ESG Risk Research Survey Report: 2021’ also reveals:
- Where GCs believe investment is needed most to improve oversight in the three areas of ESG,
- How GCs are currently involved in ESG activities,
- How businesses are integrating ESG criteria into investment decision-making,
- The ESG risks which GCs perceive fall completely in their remit.
In the addition to the survey results, the report includes in-depth commentary from Irwin Mitchell’s General Counsel, Bruce McMillan, and Banking & Finance partner, Sean Scott.
Irwin Mitchell’s National Head of Planning and Environmental Law, Claire Petricca-Riding, IP and Reputation Management partner, Georgie Collins, Employment partner, Elaine Huttley, and Regulatory and Crime specialist lawyer, Jason Newall, offer additional insights too.
Expert Opinion“This is a very timely study and with awareness about ESG issues rising all the time, we were keen to investigate in more detail the important role GCs are playing as it quickly moves up the corporate agenda.
“We’re delighted that so many in-house counsel contributed to this research, and I’d like to thank them for their time and for sharing their insights into the role of in-house in setting and supporting the ESG agenda within their businesses.”
Victoria Brackett - Group Chief Commercial Officer