Pressure-Testing Your ESG Commitments
In this article, we outline key steps lawyers can take to pressure-test and make sure their companies are using reliable information to meet their ESG goals.
November 03, 2021 at 01:03 PM
5 minute read
From the Experts
Many companies have made bold promises in recent years to enhance board diversity, use renewable energy sources, and operate an ethical supply chain. All laudable goals. But how many of these environmental, social and governance (ESG) commitments have been pressure tested?
In other words, what underlying information is used to support and measure these lofty aspirations? Unfortunately, in some cases the backup data is thin. If there are discrepancies, it's only a matter of time until regulators or the public discover them – putting companies' reputations at risk.
Lawyers and their companies should prepare now for an increasing number of lawsuits and government investigations alleging that they failed to meet their ESG promises. By pressure-testing the data—a task lawyers are uniquely suited for—companies can avoid major legal and PR consequences.
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