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United States and United Kingdom: ESG and litigation risks (Webinar)

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In brief

As we entered the new decade, businesses were already grappling with new challenges to their license to operate: What did it mean to be a good corporate citizen in the context of the climate emergency and continuing social inequality? Consumer and employee activism and political pressure at both the global and national levels were combining to force ESG (Environmental, Social and Governance) issues to the top of the board’s and management’s agenda. Having a clear corporate purpose was becoming essential.

In August 2019 the US Business Roundtable published its statement on the purpose of the corporation where it sought to accommodate a broader group of stakeholders, in the UK we are beginning to see companies report theirs. 172 practices and globally companies (and governments) are adopting TCFD disclosures as best practice; Blackrock’s January statement was clear to indicate that it was making sustainability integral to the way it approached its investments. The pandemic has simply reinforced these aspirations and it is fair to say that we are now firmly in the age of “stakeholder capitalism.”

Since then, our lives have changed fundamentally, in ways that few of us could ever have imagined. But what will COVID-19 and its after-effects mean for ESG? Evidence is building that those businesses that embrace ESG values as an integral part of their COVID decision making will be better placed to survive and, ultimately, thrive in a post-COVID world.

Few question that with COVID-19 our lives have changed fundamentally, in ways that few of us could ever have imagined. The pandemic will have been with us for at least a year before we begin to think about returning to “normal” and we know that “normal” will be different from what it was in March 2020. How can we learn from our lives during COVID-19 and position our stakeholder governance agendas to prepare us for a post-COVID world? We have seen clear evidence building that those businesses that embrace ESG values as an integral part of their decision making will be better placed to survive and, ultimately, thrive in a post-COVID world.

This series of ESG-focused thought leadership webinars will share insights and practical guidance for businesses considering what ESG means for them in the context of the current crisis and beyond.

Date: 15 April 2021

Topic: ESG and Litigation Risks

Speakers: Nick O’Donnell (Chair), David Hackett, John Leadley and Francesca Richmond

https://bakermckenzie.zoom.us/rec/play/Sbr6Dq3WEcRwgrzO25fa9X2Vv9ndU7y8fQNVK8r3blTtQ9f7XuA2T-D4QaE9xBwkKqhY7Uhm8377df6K.hnFEH7gkpL3pxVNd

Related Episodes:

Multijurisdiction: ESG and Brexit (Webinar)

United States and United Kingdom: What will Biden’s presidency mean for ESG? (Webinar)

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Author

Nick O'Donnell is a partner in Baker McKenzie's corporate department in London. He has over 15 years' experience advising on a wide range of corporate finance transactions and is recognized in his field by The Legal 500. He has spent time on secondment with Goldman Sachs, Morgan Stanley, Macquarie and Mubadala. Although London based for the majority of his career, he has previously been located in Abu Dhabi and New York. He regularly publishes articles, and has been quoted and interviewed on the press and TV, on matters relating to the London market.

Author

David Hackett advises senior management, legal departments and boards of major corporations and nonprofits on compliance, risk, environmental and sustainability matters. He has exceptional experience managing US and international compliance and environmental projects, including the evaluation and development of effective compliance and sustainability programs. He also has extensive experience litigating major civil and criminal environmental matters. David sits on multiple nonprofit boards and additionally advises many civic and nonprofit organizations across the globe. Following his tenure with the Environmental Enforcement Division of the US Department of Justice, David joined the Firm where he has played a formative role in the establishment of the Firm's compliance, environmental, climate and sustainability practices. At Baker McKenzie, David has served as the managing partner of North America, a member of the Global Executive Committee, and Chicago office managing partner. He has also been the North America Chair of both the Compliance Practice Group and the Banking, Finance and Major Projects Practice Group.

Author

Francesca Richmond is a partner in the Baker McKenzie Dispute Resolution team based in London. Francesca joined Baker McKenzie in 2004 and was admitted as a solicitor in September 2006. She attained higher rights of audience to act as a solicitor-advocate in 2009. Francesca has been seconded to Baker McKenzie's offices in Chicago, Washington and Sydney as well as to clients Barclays Bank PLC, the BBC Trust and O2. Francesca was a marshall at the Royal Courts of Justice in 1998 and in 2000 sitting with a High Court judge.

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