Environmental, Social & Governance (ESG) (2024)

Fox Williams the Business Law Firm

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As a responsible business we seek to achieve a positive social and environmental impact.

We strive to ensure our own business can meet today’s significant challenges, including reducing inequality and helping to tackle climate change, by investing for the future, supporting our people and building a sustainable business.

Developing a coherent approach to ESG and ensuring our business operations have a positive social and environmental impact is key. We will deliver on this by embracing more robust regulatory requirements, promoting a fairer society, and playing an active role in tackling environmental concerns.

In our efforts to be a more responsible business, we regularly review our strategy, seek to adhere to the relevant reporting requirements and assess where we can improve in relation to each pillar of ESG considerations.

Environmental

Understanding and measuring our sustainability, including examining our environmental impact is key in our efforts to play our part in reducing carbon emissions as well as water use, pollution and waste.

Our building uses a ground source system for heating and cooling saving over 21 tonnes of CO2 pollution per year and is 32% less than the Building Regulations Part L 2010 target emission.

Our office has a BREEAM ‘Excellent’ rating. BREEAM is the world’s foremost environmental assessment method / rating system and is delivered by a licensed organisation.

100% of waste from the office has been diverted from landfill and our office uses rainwater harvesting technology for reuse in the building and water efficient plumbing.

Social

We seek to take responsibility for addressing social issues such as imbalances in gender, ethnicity and diversity and inclusion within our firm. As an organisation, we strive to always do more to achieve better social standards and effect real social change.

We produce an annual diversity and inclusion report which includes our gender pay gap figures. To read the latest report click here.

Promoting social mobility in partnership with upReach.

We partner with social mobility charity upReach to provide students from disadvantaged backgrounds with support in starting a career in the legal sector. This includes our open day where we provide students with an insight into the work that we do such as talks from members of the firm, legal training exercises and presentations.

Our lawyers also provide regular mentoring, which includes providing first-hand insight into how a law firm operates, interview practice via video calls, reviewing CVs and assisting with training contract applications.

City Century

We are supporting the CityCentury solicitor apprentice initiative to increase the number of solicitor apprentices entering the legal industry. We aim to employ our first cohort next year as we take collective responsibility to provide better access to the legal sector.

Environmental, Social & Governance (ESG) (1)

Reverse mentoring

Our Reverse Mentoring Programme is one of a series of actions we have taken across our firm to increase awareness of the experiences of our lawyers and aspiring lawyers from ethnic minority backgrounds.

Our Partnership Board members have been mentored by volunteers from ethnic minority backgrounds across our firm to learn from one another’s experiences and consider the ways in which they can better support minority lawyers and staff both in our firm and in the wider profession.

Gender and ethnicity pay gaps

We report on a voluntary basis to our staff on our gender pay gap and our ethnicity pay gap to track our progress over time and have a measurable system and ensure the diversity of thought at all levels at the firm. We will also be expanding the reach of our diversity and inclusion training over the coming year.

Other firm activities

We have a regular calendar of diversity and inclusion events, workshops and talks to increase awareness and promote a culture of equality and understanding throughout the firm. Equally, our Charity Committee hosts fundraising events throughout the year with employees choosing one charity per year to support. This year’s charity is Refuge which supports victims of domestic abuse.

Governance

As a law firm, it is vital that we accountable for our actions. We maintain the highest standards in how the firm is governed through our firm’s standards and policies.

We have a number of policies and procedures in place governing working practices including anti-bribery, anti-money laundering, anti-slavery, conflict of interest and relations with third parties.

Internally, our health and safety and diversity and inclusion policies including shared parental leave are bolstered by regular training to ensure we provide a welcoming workplace, and our people can feel safe and comfortable when they come to work.

The rigorous standards we set for ourselves also apply to third-party organisations and suppliers that we use. Our third-party supplier policy ensures that all suppliers to Fox Williams meet the criteria for appropriate levels of quality, reputation, financial stability and compliance with Fox Williams core policies. Any new supplier is assessed based on a supplier framework prior to being onboarded.

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Environmental, Social & Governance (ESG) (2024)

FAQs

What is the environmental, social, and governance ESG concept? ›

ESG stands for environmental, social and governance and refers to a set of standards used to measure an organization's environmental and social impact. It's typically used in the context of investing, although it also applies to customers, suppliers, employees and the general public.

What are environmental, social, and governance ESG values? ›

Environmental, social, and governance (ESG) is shorthand for an investing principle that prioritizes environmental issues, social issues, and corporate governance. Investing with ESG considerations is sometimes referred to as responsible investing or, in more proactive cases, impact investing.

What are environmental, social, and governance ESG guidelines? ›

Adopting ESG principles means corporate strategy focuses on environment, social, and governance. This means taking measures to lower pollution, and CO2 output, and reduce waste. It also means having a diverse and inclusive workforce, at the entry level and the board of directors.

What is environmental, social, and governance ESG 101? ›

Environmental, social, and corporate governance (ESG) is a strategic framework for identifying, assessing, and addressing organizational objectives and activities ranging from the company's carbon footprint and commitment to sustainability, to its workplace culture and commitment to diversity and inclusion, to its ...

Why is ESG controversial? ›

One of the biggest criticisms of ESG is that it perpetuates what it was partly designed to stop – greenwashing.

What is ESG for dummies? ›

Understanding ESG

ESG refers to the three key areas of assessment used to evaluate the sustainability and ethical impact of an investment in a company or business: Environmental, Social, and Governance.

What is the main goal of ESG? ›

The goal of ESG is to capture all the non-financial risks and opportunities inherent to a company's day to day activities.

What is ESG and examples? ›

What is environmental, social and governance (ESG)? Environmental, social and governance (ESG) is a framework used to assess an organization's business practices and performance on various sustainability and ethical issues. It also provides a way to measure business risks and opportunities in those areas.

What are the disadvantages of ESG? ›

One of the main disadvantages of ESG criteria is that companies are not required to disclose all information related to their sustainability practices. This can make it difficult for investors to evaluate the sustainability and ethical impact of investments.

What are environmental, social, and governance ESG targets? ›

ESG allows the business to target different areas of its organisation and implement more sustainable, ethical practices. Examples of environmental business practices include: reducing energy and using renewable energy sources to become a net zero organisation. developing greener products and services.

Who is behind ESG? ›

It refers to a set of metrics used to measure an organization's environmental and social impact and has become increasingly important in investment decision-making over the years. But while the term ESG was first coined in 2004 by the United Nations Global Compact, the concept has been around for much longer.

What are the ESG regulations for environmental, social, and governance? ›

ESG regulations refer to the rules, standards, and guidelines that govern business operations' environmental, social, and governance (ESG) aspects. The purpose of these regulations is to hold companies accountable for their impact on the environment, society, and corporate governance practices.

What is the best explanation of ESG? ›

What is ESG explained in simple terms? ESG stands for Environmental, Social, and Governance. It is a framework used to evaluate a company's sustainability and ethical impact.

What the heck is ESG? ›

If you typically read the list of ingredients on the back of food packages, you already know how to approach ESG investing. “ESG” stands for three factors fundamental to corporate accountability and sustainable performance: environmental, social and governance.

What falls under governance in ESG? ›

Governance ESG criteria cover corporate policies, stakeholder rights and responsibilities, as well as how the corporation is managed and its success measured. With such a high focus on climate risk and social factors, it is easy for the 'G' in ESG to be overlooked.

What are the basic concepts of ESG? ›

ESG stands for environmental, social and governance. These are called pillars in ESG frameworks and represent the 3 main topic areas that companies are expected to report in. The goal of ESG is to capture all the non-financial risks and opportunities inherent to a company's day to day activities.

What are ESG metrics environmental, social, and governance? ›

When we talk about ESG metrics, we're really talking about performance measures or indicators of a company's performance on environmental (E), social (S), and governance (G) issues. They are similar to other business metrics in that they're used to assess a company's operating performance and risk.

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