Clients around the world are facing growing challenges and opportunities in the areas of environmental, social and corporate governance (ESG), so the Firm’s creation of a new ESG & Sustainability Group is well timed.

The group was launched in February with the full backing of the Executive Committee. Led by New York Partner, Dave Hille, it includes a core team of 15 partners and Business Services professionals from a wide range of practices and geographies.

The group’s remit is to pull together our expertise in ESG and sustainability for the benefit of clients, the Firm and our people. It is supported by a similarly diverse wider team of around 40 people, made up of lawyers and Business Services professionals.

Practices represented on the group include Business & Human Rights, Environmental, Public Company Advisory, Sustainable Finance, Energy Transition, and Climate Change Disputes, as well as a number of our Industry groups.

Dave explains: “We’ve been helping our clients with these matters for decades, but it’s only in the last few years that the market has begun to view them collectively as ESG.

“This group will pull this previously separate expertise together, so that we can take a united approach (yes, I said united) and draw on one another. No one lawyer can claim to have every element of ESG covered, but we do have that expertise collectively.

“ESG has become important in all areas of commerce and is therefore relevant to everything we do as a global law firm. We want to spread education and knowledge throughout the Firm, so that all of us are aware and consider how ESG impacts our role and our advice.

“There are so many areas where we’re able to support our clients with ESG issues, whether it’s helping oil and gas clients adapt to energy transition, working with issuers and borrowers to arrange sustainable finance deals, or advising our automobile and tech clients on issues in their supply chain.

“The demand from clients is certainly increasing. Organizations face pressure from stakeholders, consumers, NGOs and other groups, while also having to comply with industry standards and national and international frameworks on corporate sustainability.

“In addition, financial institutions and major institutional investors are increasingly demanding that companies seeking investment meet mandatory ESG requirements, while shareholder activism in this space is on the rise.”

The core team of the ESG & Sustainability Group meets fortnightly, while the wider team meets every two months, but collaboration is happening every day.
As well as focusing efforts on our response to issues for clients, the team is also championing efforts the Firm is making to improve its own ESG performance.

Dave says: “White & Case is a big institution, so we need to show how we’re managing ESG issues in the way we work, which includes being more conscious about the implication of travel or how we manage energy, single-use plastics and food waste in our offices.

“The Firm has already got a good record on these issues, but it’s about continuous improvement. We’ve been a signatory of the UN Global Compact since 2016 and are committed to the UK’s Anti-slavery regime, showing we want to be accountable for our performance.

“Clients and young professionals will only choose White & Case if we can show that we’re as attuned to the issues as they are.

“We’re already taking steps to ensure we do this consistently including carrying out greenhouse gas emissions assessments.”

The Firm is regularly working with clients on ESG related matters, including advice on governance, energy transition projects on major solar and offshore wind developments and the structuring of sustainable project financing.

“It’s a theme that will only increase,” says Dave. “Governance has also never been more in the spotlight, with shareholders and consumers now expecting companies to be run ethically, so we’re here to help clients navigate the risks of complex regulations, standards and reporting frameworks.

“Sustainable finance is another huge area that’s closely linked to ESG, while energy transition continues to grow rapidly as the world looks to a more sustainable energy supply.”

One of the ways the Firm is increasing awareness of its expertise on ESG matters is through a three-year sponsorship commitment with the FT Moral Money Forum, which includes the publication of four thought leadership pieces and an exclusive roundtable each year.

In addition, we’ve collaborated with the Thompson Reuters Foundation, Refinitiv and other partners on a thought leadership piece on the myths around the ‘S’ in ESG based on the collective’s own research findings.

Dave says: “We’re also planning our own round table event that will bring us together with top tier clients who are all addressing the same issue – what does ESG mean for our business?

“It’s about making connections and engaging with our clients by discussing the things they care about and sharing experiences, because we’re all on the same journey together.”

The Firm’s profile and reputation for ESG expertise is already strong. We won an award from FT North America for our record on social justice and the rule of law and have been recognized as the number one advisor for shareholder and public company activism by Bloomberg Activism Adviser.

A transaction we worked on also won Environmental Finance’s Green Bond of the Year award at the 2021 Environmental Finance Bond Awards. Dave believes that the Firm is well placed to take the opportunities presented by ESG.

He says: “Using our collective expertise across the Firm, I would put us up against anyone. When you combine the strength of our finance practices, our energy practice, our business and human rights and environmental practices and others, it’s a formidable offering.”

Anyone who would like support on ESG and Sustainability issues should contact the team on ESG@whitecase.com