A Tsunami of Social Change Is Driving ESG Efforts
Companies that don't have a holistic and compelling ESG Program face significant risks.
1. Effective, Robust ESG Now Becoming Table Stakes -- Clients and Employees Expect More From Their Service Providers
Operational Risk
Lost business from clients requiring greater commitment, compliance, and transparency. Difficulty in recruiting and retaining employees.
ESG mitigates risk by identifying the hidden operational risk, which has become increasingly important with clients and employees. It also requires that ESG be strategic and integral to the company’s value proposition.
2. Stakeholders want greater transparency
Operational Risk
Loss of brand trust, boycotts, divestment
ESG mitigates risk because it knows what and how to communicate to internal and external stakeholders to maintain engagement and brand trust amidst complex and evolving social and sustainability issues.
3. Formerly Voluntary, Social Impact and Sustainability Is Now Becoming more Regulated.
Mitigation Risks
Historically, efforts have been siloed, transactional, and not part of enterprise risk management; standards are not consistently met or measured effectively.
Robust and holistic ESG mitigates the risk through faster development and deployment of compliance programs and by getting ahead of the curve to ensure consistent compliance on emerging regulations.
4. The Legal Industry Employs Hundreds of Thousands of People and touches Every Other Industry in the World.
As such, we are in a position to lead our clients' and our own organizations toward a more sustainable future.