The term ESG has gotten much attention lately, but many aren’t even sure what it means. “ESG” stands for “Environmental, Social, and Governance” and is a framework to evaluate a company’s business as it relates to meeting its environmental, social, and governance strategic objectives. Investors, regulators, employees, and customers express increasing concern that the companies they deal with are concentrating on and improving their ESG metrics. It is without a doubt an area of focus that is here to stay.
Law departments can elevate their value within their company by assuming a leadership role in creating and leading the company’s development of its ESG metrics. As the 2021 BarkerGilmore General Counsel Pay Trends Report states: “ESG matters… will continue to become a core function of, and a required competency for, the GC role.” While most organizations already assign the “corporate governance” section of ESG to the law department, a more expansive approach enables the General Counsel and team to shine.
In this article, we discuss examples of how General Counsel and law departments can burnish their profile while doing good and helping their employers with ESG matters.
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