Global legal and business outlook 2023 insights: future + ESG

Catch up on the live sessions and other practical content from our global legal and business outlook update.

23 March 2023

Publication

GLBO 2023

ESG is an evolving concept for all sectors – our present shapes our future. Over the course of two half days, clients from across our network joined us virtually as we discussed how we adapt to this ever-changing world.

Our keynote speakers were:

  • Catherine Howarth, CEO, ShareAction
  • Jason Mitchell, Head of Responsible Investment Research, Man Group plc and Chair of UK Sustainable Investment and Finance Association (UKSIF).

Sonali Siriwardena, our Global Head of ESG captured the essence of the event with these words: ‘There’s huge momentum in the ESG ecosystem, waiting to be captured’.

Key takeaways from our two keynote sessions

  • The 'Social' aspect of ESG is universal in nature. The “S” matters for all sectors in equal measure. However the strength and breadth of data available needs to improve. Although it is difficult to have a dialogue and engagement with investors in the absence of decent data set around which we can build conversation, the lack of data should not be used as an excuse for status quo.

  • Call to arms for lawyers to join the ESG policy conversation – There is a growing recognition of the crucial role that lawyers, including in-house lawyers, play in sustainable finance. They are going to play a fundamental role in interpreting, supporting and guiding regulatory policies on on this collective journey towards a more sustainable future.

Listen to the full keynote sessions below:



Thanks go to all of our external and internal speakers for the insights they shared.

The event was shaped around the 5 core ESG legal touchpoints:

Governance

ESG data governance is critical for businesses looking to stay competitive in today's world. Listen to our podcasts recordings below.

Podcast: Governance in a fast-moving world

plus

Session summary: We look at the role of governance across ESG and for fast growth financial firms.

Speakers: Fiona Bolton, Partner, Tair Hussain, Partner, Penny Miller, Partner, Emma Sutcliffe, Partner

Podcast: Building effective AI governance for financial services

plus

Session summary: This interactive session discusses how financial institutions can (and should) go about implementing a framework for the responsible use of AI and also with a view to ensuring compliance with forthcoming AI regulation.

Speakers: Angus Brown, Managing Associate, Christopher Götz, Partner, Alexandra V. Mousavizadeh, CEO and co-founder, Evident AI, Sophie Sheldon, Managing Associate, Minesh Tanna, Partner.

Transactional

With increasing ESG expectations on businesses, clients are also facing more scrutiny over commercial and investment decisions. Listen to our podcasts recordings below.

Podcast: Transition M&A for Investment Funds and Asset Management

plus

Session summary: In this session, we discuss clean energy and infrastructure investment deals, recent trends and the increased focus on sustainability.

Speakers: Serra Tar, Partner and Anthony Catachanas, CEO, Victory Hill Capital.

Podcast: Debt as a tool for transition finance

plus

Session summary: In this session, we discuss the year ahead for sustainability linked loans, bonds and derivatives. We take stock of where we are, the challenges to overcome and the opportunities for business in 2023.

Speakers: Elliot Beard, Partner, Lee Irvine, Partner, Piers Summerfield, Partner, France Vassaux, Partner and Oliver West, Partner.

Podcast: How can Fintech lead the way on the ESG agenda?

plus

Session summary: In this session we look at the ways in which emerging technologies such as big data analytics, tokenisation and AI are helping firms meet their ESG goals.

Speakers: Angus McLean, Partner, George Morris, Partner and Ugo Malvagna, Associate Professor of Law and Finance, University of Trento, Law School.

Podcast: The Carbon Markets

plus

Session summary: Carbon is set to become an increasingly important asset class in 2023 and beyond, as governments around the world scramble to adopt policies to ensure various carbon reduction commitments can be met. In this session, we look at compliance, voluntary and Paris Agreement carbon credits, how markets in them have evolved, how they are regulated in several jurisdictions, and highlight the key issues to be considered in the development of carbon-related products and services.

Speakers: Alex Blomfield, Partner, Ben James, Supervising Associate, Sonia Lim, Partner, Rosali Pretorius, Partner and Anna Smart, Trainee solicitor.

Regulatory

ESG mandatory disclosures are just the beginning. To truly stand out in today's competitive landscape, businesses need to go above and beyond with voluntary non-financial disclosures. Listen and watch our podcasts and video recordings below.

Video: The next wave of ESG regulation in 2023

plus

Session summary: Financial services firms have faced a torrent of ESG regulation in the last couple of years, and we’re not done yet! In this session our EU and UK experts discuss what needs to be on your radar in 2023, with a focus on key EU and UK legal developments for the financial services sector, the practical challenges these raise, and what you need to do this year.

Download the session slides

Speakers: Caroline Boon, Head of Public Policy and Corporate Responsibility, Barclays, Nicholas Colston, Partner and Derek Lawlor, Partner.

Video: Regulatory divergence and what it means for asset managers?

plus

Session summary: This breakout session follows on from ‘The next wave of ESG regulation in 2023’ session and takes a deeper dive on sector-specific concerns for Asset managers.

We focus on forthcoming EU developments (including SFDR and Taxonomy, and the ESMA naming guidelines) and UK developments (including TCFD and the proposals for sustainability labels and disclosures), as relevant for asset managers and fund managers.

Speakers: Nicholas Colston, Partner, Lucian Firth, Partner and Louise Tudor-Edwards, Managing Associate.

Podcast: Regulatory breakout session for FIs

plus

Session summary: This breakout session follows on from ‘The next wave of ESG regulation in 2023’ session and takes a deeper dive on sector-specific concerns for Financial Institutions.

We focus on “horizon scanning” developments which relate to banks and other financial institutions, including TNFD and bio-diversity (moving beyond climate), quasi-regulatory initiatives (including the ECB, IOSCO and Basel Committee initiatives), as well as EU law (including the Taxonomy and CSRD).

Speakers: Derek Lawlor, Partner and Tristram Lawton, Managing Associate.

Risk management

Greater ESG expectations means greater risk of civil litigation and increased regulatory and conduct risks. Listen to our podcasts recordings below.

Podcast: Supply chain resilience and sustainability

plus

Session summary: Organisations need to focus on how to manage their supply chain to avoid the emerging compliance, governance and sustainability issues resulting from actions down their supply chain. In this session, we cover supply chain regulations, operational resilience regulations, anti-bribery and AML obligations, human slavery regulations, due diligence requirements and contractual obligations giving control over supply chain management.

Speakers: Camilla de Silva, Partner, Sascha Kuhn, Partner and Sophie Sheldon, Managing Associate.

Podcast: COP 28: The road to Dubai

plus

Session summary: Middle East Regional Head, Muneer Khan, leads a panel of industry experts to discuss various initiatives taking place in the Asset Management and Investment Funds sector in the build up to COP28, which will be held in Dubai later this year. The discussion includes a look at "The Path to COP28", a 12-month campaign launched by the UK’s Global Ethical Finance Initiative (GEFI) in collaboration with the DIFC Authority, with multiple workstreams to drive commitment and action ahead of COP28.

Speakers: Cinzia Chiriac, Head of ESG Regulatory Affairs, Bloomberg L.P, Muneer Khan, Partner, Regional Head - Middle East, Omar Shaikh, Global Ethical Finance Initiative,
Salman Siddiqui, Jupiter Asset Management and Sonali Siriwardena, Global Head of ESG.

Reputational

In today's world, unsustainable business practices can have far-reaching consequences for your organisation's reputation and bottom line. Listen to our podcasts recordings below.

Podcast: The power of reputation and the potential of legal design

plus

Session summary: Litigation and regulatory enforcement for ESG omissions is only increasing, with an associated and immediate risk of reputational damage. This session looks at the trends that are emerging in this area and how to counter them by translating good intentions into tangible action and driving positive behaviours. Learn about practical examples, tools, and techniques to empower colleagues, customers and your supply chain with accessible, navigable, and user-centric communication.

Speakers: Robert Allen, Partner, Erika Pagano, Head of Innovation and Design, Udo Pickartz, Counsel, Vanessa Sharman, Associate and Jemima Coleman, Consultant.

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.