The quote above is at an extreme, but there are more top legal decision makers at this end of the spectrum than not. This is especially true in the following industries:
- Industrial Manufacturing
- Consumer Products
- Mega Brands
- Oil & Gas
- Power Generation
- Tier 1 Auto Supply Chain
ESG includes Environmental, Social, and Governance. Top legal decision makers are most concerned with the last 2. They are looking for industry practice and language to meet the requirements but allow for flexibility. This is a place where your industry insight is invaluable. Almost every client wants to know what their peers are saying — especially the ones who attracted litigation or investigations.
These clients are looking for guidance and suggested boundaries for disclosure. They also want to know about discourse between top executives and CLOs at leading ESG companies. These are the companies making big public commitments.
Law firms can add real value to these clients by going beyond a conversation and providing:
- Language from companies who have been successful with their disclosures
- Blinded background about corporate counsel conversations with management about ESG disclosures and policies
- Current lawsuits stemming from ESG related issues — and risk avoidance strategies for each
- Red flags and other indicators of trouble
The initial assignment may be small — but if an issue arises the attorneys providing these insights will get the call. And the attorneys who help clients get a millstone off their neck are branded for at least 10 to 15 years as problem solvers.
Best in the market ahead.
The Mad Clientist