ESG
Environmental, Social, and Governance (ESG) considerations are integral to sustainable business practices, serving as a framework to achieve sustainable goals. At Nesdal Law, we offer to support your organization to develop and implement efficient ESG strategies that yield tangible results.
Understanding ESG:
- Environmental (E) focuses on a company's impact on the planet, including resource consumption, waste management, and carbon footprint.
- Social (S) pertains to human rights, labor practices, community engagement, and employee relations.
- Governance (G) involves adherence to laws and regulations, emphasizing compliance with anti-bribery, trade regulations, and corporate governance standards.
Why ESG matters
ESG is the path to conducting sustainable business, which in itself is an important goal for any prudent business. The emphasis on ESG is increasing among legislators and proactive companies. A robust ESG strategy not only ensures compliance with evolving regulations but also enhances your company's reputation, making it a preferred partner for businesses that prioritize sustainability.
A key legislative example
The Norwegian Transparence Act obliges companies of a certain size to conduct due diligence across their supply chains and respond to human rights information requests within three weeks. This requirement is particularly challenging for organizations with international supply chains. While the law targets larger Norwegian companies, it also impacts foreign entities and smaller firms seeking partnership with compliant organizations. Similar legislations are emerging globally, including in the EU.
Sanctions compliance
Implementing a sanctions compliance program is essential to adhere to international sanctions imposed by bodies such as the UN, EU, and USA. Non-compliance can have severe repercussions, but a well-structured program can mitigate the risk of sanctions breach and the consequences of breach.
How can we support?
We offer tailored support to develop ESG strategies and conduct risk assessments of your supply chain. Collaborating closely with key stakeholders in your organization, we facilitate the internal and external rollout of ESG initiatives, ensuring alignment with your organization's goals and regulatory requirements.
Get in touch
Feel free to reach out to discuss your case or learn more about how we can support your organization within ESG.
We look forward to supporting you.
