Legal firms face a dual challenge when it comes to sustainability. Not only do they need to manage their own environmental impact, their clients also expect them to advise on the latest ESG regulation and how to safeguard against greenwashing.
To remain competitive, firms need to be able to navigate a rapidly evolving regulatory environment to guide the businesses they work with through the latest requirements of regulation such as the Corporate Sustainability Reporting Directive (CSRD) or Corporate Sustainability Due Diligence Directive (CSDDD). Members of The Legal Sustainability Alliance also expect firms will need to consult clients on green finance issues such as structuring green bonds, sustainability-linked loans and navigating ESG-related financing requirements. This competitive edge extends to legal businesses having their own house in order.
To even be included in a tender process for many large businesses, firms have to fulfil certain ESG criteria. And to maintain clients, they must satisfy clients’ supply chain reporting needs. At the heart of meeting these requirements, and protecting against greenwashing claims, is comprehensive, auditable carbon accounting. Being able to report on carbon emissions with confidence is no longer just a compliance play for legal firms, it’s a key factor in retaining existing clients and winning new business.
