ANALYSIS: Who Are ‘ESG Attorneys’?

ESG is growing and so are its legal risks. In response, law firms are building ESG Practice Groups that leverage expertise from a variety of practice areas.

Given the range of expertise needed to manage ESG risks, what types of attorneys are working on ESG issues? Bloomberg Law’s State of Practice Survey of law firm and corporate attorneys provides some answers.

Where Do ESG Attorneys Work?

Nearly 75% of corporate attorneys reported at least occasionally working on ESG issues, whereas 41% of law firm attorneys reported working on ESG issues.

Survey respondents were asked to construe ESG issues broadly to include counseling on securities filings; investment decisions; environmental and sustainability disclosures; supplier agreements; human capital management; diversity, equity, and inclusion; litigation; corporate governance; and other matters related to ESG.

The law firm and corporate split underscores how in-house lawyers typically provide counsel on corporate reporting, product advertising, and internal policies, all of which often overlap with ESG issues.

What Types of Law Do ESG Attorneys Practice?

Over a quarter of attorneys from every practice area surveyed reported working on ESG issues.

A substantial majority of attorneys working in antitrust/competition (80%) and employee benefits/executive compensation (75%) said that they work at least occasionally on ESG issues. The recent backlash regarding ESG’s role in investment decisions may be responsible for those numbers.

Far fewer attorneys in the personal injury (26%), trusts and estates (38%), and workers compensation (39%) practice areas reported working on ESG issues, which makes sense considering the limited topical overlap with corporate activities.

Who are “ESG attorneys”? The diversity of practice areas working on ESG suggests that such a persona may not exist. Rather, ESG risk management is an integral part of many areas of legal practice.

Bloomberg Law subscribers can find related content on our Surveys, Reports & Data Analysis page.

Bloomberg Law subscribers can find a variety of Practical Guidance documents, workflow tools, and reference materials for corporate counsel on our Environmental, Social, & Governance (ESG) Practice Page.

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