These are the key insights:

• From geopolitical tensions, trade disputes, and supply chain disruption to climate change adaptation, telecommuting, and diversity and inclusion issues, legal professionals need to understand how ESG is changing their company’s priorities and manage the various legal implications.
• ESG issues are becoming increasingly urgent and legal departments need to advise on a wide range of legal issues. These include legal liability of directors, sustainability reporting, access to capital and insurance, talent management, and climate change.
• The companies that are most advanced in ESG can go beyond strategy to contribute in sustainability for the benefit of the community and the environment.
• Leading legal departments help other colleagues in the company understand ESG risks and manage them together with other departments such as finance, treasury, procurement, IT and HR.
• The legal department can act as a liaison and help develop strategies for other departments as well and create the governance framework (simple rules, clear codes of conduct) for implementation.
• In an ESG-led legal department, legal experts are business partners. They understand their company and its issues, so they can give you the right advice, implement the necessary measures and thus contribute to the long-term growth of the company.