Australian firm MinterEllison has launched an integrated environmental, social and governance (ESG) offering to meet client demand, amid growing concern of related issues and increased compliance requirements.

MinterEllison's ESG offering will focus on governance and conduct related to climate risk and sustainability, human rights, and responsible finance and investment.

"Historically, ESG was often viewed as non-financial or ethical in nature, and irrelevant to the pursuit of financial objectives. In recent years that has changed dramatically," Sarah Barker, MinterEllison's global head of the climate risk and sustainability team, said in a statement.

But increasingly, regulators, investors and corporate boards recognise the risks are financial. "Economic risks are being driven not only by the policy and regulatory environment (both in Australia and internationally), but in shifts in stakeholder expectations across financial supply chains and the real economy," Barker said. "This presents a significant challenge for corporate governance—and very real litigation risk exposures for the unwary."

Barker, who is special counsel, leads the climate change risk part of the new ESG offering. She is also an academic visitor at Oxford University's Smith School of Enterprise and the Environment, and teaches sustainability in corporate governance at Cambridge University's Institute for Sustainability Leadership.

Other members of the ESG team include partners Keith Rovers, Donna Worthington, Gordon Williams and Geraldine Johns-Putra, who advise directors on evolving corporate governance matters, including ESG issues, and the intersection of business and human rights, including modern slavery reporting.

"Clients are increasingly concerned about ESG issues and we are facing rising demand to assist with new compliance requirements," said Johns-Putra. "Clients want advisers who can guide them on specific tasks while working with them to embed sustainability into their governance frameworks, their culture and their businesses."

Last year, Australian firm Corrs Chambers Westgarth hired human rights expert Phoebe Wynn-Pope as head of business and human rights. Wynn-Pope advises business clients on human rights impacts and how to mitigate risk in that area.

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