MULTINATIONAL litigation firm Squire Patton Boggs have recently announced a package of measures as a part of their new, overarching ESG strategy – including a commitment to achieve carbon neutrality by 2035. The new measures mark a new approach for the firm, in the wake of growing pressure on businesses to align themselves with UN development goals.
ESG stands for Environmental, Social and Governance, referring to three key strategic pillars for situating a company’s long-term success and sustainability. ESG strategy has become particularly important for businesses to address in recent years, as consumers, clients and competitors alike become more socially and environmentally conscious.
Signposting long-term commitments to the improvement of business processes and footprints serve to position a business as a responsible and equitable institution – something that litigation lawyers Squire Patton Boggs have managed with a comprehensive package of initiatives and announcements, that run the gamut of ESG strategy.
Environmental Commitments
One of the key commitments outlined in Squire Patton Boggs’ ESG strategy is to reduce their carbon emissions to net-zero by 2035, with a preliminary target of 70% reduction in emissions by 2030. The ambitious goal significantly outpaces the UK government’s goals for a net-zero country, which are aligned with the CCC Net Zero target of 2050.
The firm also announced in-house ‘carbon literacy’ training, which gives individuals within the organisation the tools and knowledge to interrogate the carbon cost of specific workplace and commuter activities. This training enables departments to make more carbon-conscious choices on an individual level, further reducing the carbon cost of specific departments.
Social Commitments
But environmental commitments are not the only substance to ESG strategy, nor Squire Patton Boggs’ announced directives. The firm’s social commitments promise equity and parity in law, with a proposed 50% increase in pro bono work for clients that may not otherwise be able to financially access legal assistance or representation.
The firm has already seen results from prior commitments in relation to internal diversity targets, having increased the percentage of female partners in the firm to 21% – and having greatly increased racial diversity as well. The firm is also taking strides to improve diversity, with the introduction of paid internships and work experience opportunities for less-advantaged future litigators.
Governance Commitments
Finally, Squire Patton Boggs have also committed to key changes in their governance, to enshrine the equitable and sustainable values that underpin existing proposals and directives. ESG training and environmental management training programmes are to be instituted to ensure future business leaders carry responsible goals and targets forwards, and to ensure more direct control over the ESG footprint of individual aspects within the firm.
The firm has also committed to short-term governance action, in the form of a whole-firm supplier audit to investigate the appropriacy of professional networks and connections.
