Provide ESG guidance for small legal teams to minimize risks as much as possible.

How smaller legal teams can steer clear of ESG-related risks – and reapunexpected benefits too. 72% of Americans think it’simportant for business to besocially and environmentallyresponsible, according to Forbes.Leaders that don’t take action The pressure is on. Building a strong reputation ina challenging environment. “Social license is corporate‘oxygen’ – thus impossible tosurvive without it – companiescannot just wait and hope thatthings will all work out.” You know that you need to pay attention to your sociallicense – that is, the perception that your business isfair and trustworthy. Consumers and investors believeall companies, small and large, should actively avoidharming communities and the environment. They vote standards across your field their priorities should be your priorities constantly update regulations You’re under pressure from a range of stakeholders –each with their own ideas of what ESG should look like. Stayingaheadof change. Preparing for new regulationsor changes in legislation. TheCorporate Sustainability ReportingTheCorporate Sustainability Due Diligence changing laws. Waiting for regulations to pass before takingany action puts you on the back foot and can leave youscrambling to make deadlines at the last minute. But it canbe difficult to know what’s coming, especially when you do Directive (CSRD),which aims to:•Modernize the rules on ESG informationDirective (CSDD),which aims to:•Standardize legal frameworks across the EU•Create awareness on human rights and companies must report to EU authorities •Ensure smaller businesses complywith reporting directives environmental issues•Ensure healthier environments for presentand future generations Where did itall start?ESG on a timeline. The costof inaction. Businesses pay a high price for neglecting ESG. Falling behindRegulatory frameworks are still quite new and it is likely that they will keep evolving. When businesses work to improve their ESG strategies today, they’ll be in a better position to comply with any futureregulations. In a competitive landscape, businesses that want to come out on top, need to be rearing Why businesses suffer whenthey don’t pay attention to ESG. Harvard Law School research shows that consumers will spend 9.2% more when they believea product or service is environmentally and socially responsible. Deloitte proved that a third of consumers trust brands more when they’re recognized as ethical and sustainable by a third party.There’s no getting around it – the public prefers green, socially responsible businesses. reputation for your business. But conflicting input and complexregulations mean ESG efforts still feel like a mammoth undertaking. Researchers at Columbia Law School found that businesses that enjoyed positive attention for theirESG efforts had notably lower employee attrition than businesses that didn’t. The modern workforce that it won’t be worth the trouble. This is false economy. seeks out organizations that do good for people and planet – and leave for greener pastures whenemployers don’t share their values. The unexpected benefitsSmaller risk.Greaterrewards. Expect more from ESG. Improved employee morale and productivityOxford University proved that people who say they’re happy are 13% more productive when it comes to meeting their work goals. Gartner found that employees are increasingly expecting employers to reflect theirpersonal values and to provide them with a sense of purpose. Creating a responsible and ethical businesscan boost job satisfaction and motivate employees to do their best work. While there has been some backlash against ESG guidelines coming from central government, organizationslike the SEC are not backing down and the risk of falling foul of regulations is growing. The SEC Whistleblower of good ESG practices. Program even qualifies greenwashing whistleblowers for 10-30% of penalties collected. Doing everything sized companies. The good news is that a robust ESG strategyis as good for business as it is for the planet and people.When you get ESG right, you can expect oversized results. When you share your ESG initiatives, goals, and progress with your customers, you demonstrate yourcommitment to uplifting the communities they live in. Helping customers understand the positive impact of your ESG efforts can boost their loyalty – and even inspire them to take actions that contribute toenvironmental conservation and social equity. enormous appetite for greener and more responsible business. A solid ESG strategy can help you stay ahead of the curve and take advantage of new market opportunities as they arise. Small team.Big results. Ready to upgrade your ESG strategy? We’ve outlined a briefroadmap for helping small andmedium businesses get started. Identify material ESG issues Your first step should be to conduct a comprehensive risk assessment of materialESG issues. Naturally, you’ll consider trends in your industry and patterns em