Environmental, Social and Governance (ESG) forms part of the effort to address the climate crisis and transition to more sustainable ways of living and doing business. ESG is concerned with sustainability, including greenhouse gas emissions, waste management, equality, diversity and inclusion, governance, accountability and corruption.
The ESG regulatory framework is a framework of reporting obligations contained in mandatory laws and voluntary guidelines, which helps relevant stakeholders, such as investors, shareholders, regulators, employees and consumers, understand how companies, investment management firms, financial advisors and other relevant bodies manage risks and opportunities related to environmental, social and governance factors.
Many businesses want to demonstrate to customers, employees, suppliers, lenders and communities that ethical values and sustainable business practices are embedded in their corporate culture.
Our ESG Hub is designed to help businesses achieve their ESG targets and objectives in a changing legislative and regulatory environment. Our multi-disciplinary teams provide tailored and commercially focused advice and support across the areas of energy and renewables, sustainable finance, green business loans, energy and climate action corporate and commercial, housing and commercial real estate, construction, and responsible employment practices.
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Concerns the measures an organisation has in place to minimise any potential negative impact its operations might have on the environment and the organisation’s overall resilience against environmental-related risks. Examples of relevant issues include carbon emissions, waste management practices, biodiversity loss, and air and water pollution.
Concerns the organisation’s management of its relationships with employees, customers, suppliers and other relevant actors, such as the communities within which the organisation operates. Examples of relevant issues include human rights and equality, diversity and inclusion.
Concerns the organisation’s leadership and governance standards. Examples of relevant issues include executive pay, shareholder rights, whistleblower policies and safeguards against bribery and corruption.
ESG in Commercial Real Estate - Event Highlights
LK Shields was delighted to host a panel discussion on ESG in Commercial Real Estate in the iconic Bonham Quay development.
Bonham Quay has been lauded internationally for its ESG credentials and we were honoured to have those that were central to the vision and development of this landmark share their knowledge and expertise.
There were many valuable insights shared on the night including the importance of collaboration, future proofing, and constant innovation.
The discussion took us through the story of the development from conception to occupation and in particular focused on the One Planet Living ® principles and accreditation that underpin the development.
In this edition of the Legal Business podcast we are listening back to a recent LK Shields event on ESG held in the iconic Bonham Quay development in Galway.
Since the first phase of this development was completed over a year ago, few have questioned the positive impact the building has had on Galway.
From the reclamation of brownfield land to job creation, this development has breathed new life into the Galway docks leading the way for further growth and regeneration of a central core area of Galway.
The principles of ESG are in the foundations of this development and are fundamental to its success.
We have dedicated practitioners in the areas of energy regulation, corporate and M&A commercial real estate and construction. We have strong reputation for advising on the development of renewable energy projects including wind farms, solar, offshore wind and wave energy projects.
Key Contact: Philip Daly
Our real estate team has significant experience advising investors, developers, landlords and occupiers on green leases and green building standards such as LEED, NZEB, Fitwell and BREEAM. The team works closely with our Construction and Banking teams in advising our clients on sustainable construction and finance. The role of ESG in Real Estate is dynamic and ever evolving, and our team are committed to ensuring they are at the forefront of thought leadership in this critically important and life changing area.
Key Contacts: Clair Cassidy and Patrick Ryan
We assist our clients to embed sustainable construction principles in the development and operations of their projects. There are ESG considerations at every stage of the build lifecycle. We can advise on the ESG aspects of:
Key Contact: Jamie Ritchie
We advise clients on corporate governance compliance, disclosure requirements and risk mitigation to ensure compliance with applicable law and guidance with reference to appropriate policies and corporate governance frameworks. We advise clients on corporate power purchase agreements, JVs for investment in biomethane projects.
Key Contact: Richard Curran and Gemma Forde
We advise clients on finance for development of offices, student accommodation, social housing and financing renewable energy projects. We are experienced in advising investors, lenders, and corporate borrowers in the provision of green loans and sustainability linked finance.
Key Contact: Jenny Ahern
We advise our clients in developing asset management solutions to meet sustainable investment objectives.
Following increasing investor interest in sustainable investment opportunities, we advise our clients on developing asset management solutions in line with sustainable finance law and regulation in Ireland and related ESG requirements. In particular, we advise on the application of the Sustainable Finance Disclosures Regulation (SFDR), the Taxonomy Regulation and the establishment of Article 8 and Article 9 investment funds.
We provide support to clients relation to:
With support from our Banking, Employment, Real Estate and Corporate teams, we provide ESG asset management solutions to our clients.
Key Contact: David Naughton
Privacy and data protection are fundamental aspects of corporate social responsibility and sustainability. ESG data sourcing and reporting may engage data protection considerations. Data security and privacy compliance also play key roles in the social and governance measurements of ESG frameworks. We advise clients on these complex data protection and privacy issues.
Key Contact: Jane O’Grady
The social and governance components of ESG bring with them many employment law considerations. For in-scope employers, the Corporate Sustainability Reporting Directive (CSRD) introduced the requirement for mandatory reporting which includes the requirement to demonstrate and report on equal pay, pay transparency, fair pay and security of employment, an open and transparent workplace culture supporting employees in blowing the whistle and protected disclosures. Additional responsibilities include identifying and addressing human rights concerns.
We advise and work closely with our clients on their diversity and inclusion policies, the Work Life Balance Act, flexible and hybrid working arrangements, equal pay/pay transparency, workplace health and safety, protected disclosures and their compliance and reporting requirements including the gender pay gap reporting requirements.
Key Contact: Aoife Bradley
Greenwashing carries with it the risk of reputational damage and fines. Tackling the issue of 'greenwashing' is a key priority for regulators internationally. We advise clients on how to effectively mitigate any potential damage to your business and to navigate risk.
Key Contact: Jill Callanan
We advise our clients and all aspects of governance and company law. A robust governance framework is fundemental to ensuring good Environment and Social practices.
Key Contact: Colm Hanley