ESG Transformation: Conversation Series: Recent Episodes
Herbert Smith Freehills LLP
The increasing focus on corporate purpose, accountability and operational resilience continues to strengthen environmental, social and governance (ESG) matters as a core strategic issue for businesses, investors and lenders. In this podcast series, we discuss the risks and opportunities to provide much needed clarity to achieve a sustainable future.
Isabella Kelly fires up the crystal ball and invites Tim Stutt and Mel Debenham to share their ESG predictions for 2024. Mel discusses the timing tightrope for decarbonisation projects, Commonwealth environmental legislative reform and a very different approach to regulation. Tim queries if there is an elastic start date for mandatory climate reporting, whilst the required corporate uplift crystallises. Shifting landscapes emerge for Australia’s Sustainable Finance Strategy, post-Voice referendum pathways, the EU’s Corporate Sustainability Due Diligence Directive and Australia’s Modern Slavery Act reform. They emphasise the important interrelationship between ESG spheres and close with some federal election musings around balancing energy policy and cost of living, social and biodiversity impacts.
For more, check out the AICD’s Climate Governance Study 2024, for which Herbert Smith Freehills conducted research into ASX 200 governance structures, and the jointly prepared guide Bringing together ESG: Board structures and sustainability.
Melanie Debenham and Timothy Stutt wrap up their reflections on this year’s Climate Governance Forum, hosted by the AICD and the Climate Governance Initiative Australia. Kicking off with a keynote from Mike Cannon-Brookes and followed by sessions on mandatory reporting, transition planning, greenwashing risks and an address by Senator Jenny McAllister (Assistant Minister for Climate Change), the day was rounded out with discussions on understanding stakeholder expectations and the role for boards in addressing biodiversity and nature. Speakers underlined not only the urgency of the issues but in seizing the opportunities in making climate action core business strategy.
For more, read our latest legal briefing on Australia’s proposed mandatory climate reporting regime (https://www.herbertsmithfreehills.com/latest-thinking/consultation-closes-on-australia%E2%80%99s-new-mandatory-climate-reporting-regime) and short podcast series Reporting for Duties (https://www.herbertsmithfreehills.com/latest-thinking/reporting-for-duties-%E2%80%93-esg-reporting-in-australia).
Melanie Debenham is joined by Gemma McKinnon and Bianca Janovic from our Pro Bono and Responsible Business teams to take us through the Regional Dialogue process that led to the Uluru Statement from the Heart and how it relates to the Voice referendum proposal. They discuss the proposed constitutional amendment and principles of the Voice to Parliament. They address some of the more “lawyerly” considerations and practicalities of implementing a Voice to Parliament – as well as its accountability to the community and recognition of 65,000 years of continued care for country by First Nations people.
We recognise that voters must make their own decision at the ballot box and hope to assist people to make their own informed decision.
For more information, we provide some further resources:
•Law Council of Australia’s material on the Referendum: https://lawcouncil.au/policy-agenda/the-referendum-for-an-aboriginal-and-torres-strait-islander-voice
•Joint Select Committee Parliamentary Inquiry materials (e.g. final report, hearing transcripts and submissions): https://www.aph.gov.au/News_and_Events/Watch_Read_Listen and https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Aboriginal_and_Torres_Strait_Islander_Voice_Referendum/VoiceReferendum/Public_Hearings
•Australian Electoral Commission, ‘Referendums… it’s been a while’: https://www.aec.gov.au/referendums/
•National Indigenous Australians Agency Voice: https://voice.niaa.gov.au/
•AUSPUBLAW blog: https://www.auspublaw.org/
Lucy McCullagh, Alice Molan and Anna Coroneo take the wheel to debrief their key takeaways from the Australian Sustainable Finance Summit 2023, including Australia’s progress toward a financial system aligned with sustainability commitments, the creation of an Australian sustainable finance taxonomy, the development of disclosure and reporting standards and the importance of transition financing. They discuss recent innovations such as taking longer term approaches to natural capital and the environment, ongoing partnerships with First Nations communities for better outcomes and the provision of “Blended Finance” to bridge the execution gap between intent and bankable opportunities.
Jacqueline Wootton, Hannah Cassidy and Antony Crockett take the wheel to explore trust in banking, as the sector faces a number of stress tests, including carving out credible positions on social and climate issues, creating new carbon offset markets which operate with integrity and transparency and other challenges explored in HSF’s latest edition of the annual Global Bank Review. They discuss how embracing calls for greater diligence, disclosure, reporting and transparency around ESG issues across the wider business sector might just help banks to balance the competing demands - meeting shareholder expectations and leading on social imperatives.
For more, check out our Global Bank Review: https://insights.hsf.com/global-bank-review-2023/p/5?utm_source=soundcloud&utm_medium=podcast&utm_term=third-wheel-ep34
Lewis McDonald, Carolyn Pugsley and Tim Stutt set the scene ahead of COP28 in Dubai with a stocktake of past COPs and sign-posts to the way forward, including new "regulatory technology" and continued investment to support innovation across the energy transition. They also discuss the ‘trilemma’ of energy security, affordability and sustainability.
Check out the biodiversity questionnaire: https://www.herbertsmithfreehills.com/insights/2023-09/the-biodiversity-questionnaire-%E2%80%93-are-you-ready
For more COP28 insights, visit our hub: https://www.herbertsmithfreehills.com/insights/key-topics/esg/COP28
Lucy McCullagh, Alice Molan and Anna Coroneo return to “the wheel” to discuss Australia’s Sustainable Finance Strategy, recently released by Treasury and including a range of measures to underpin sustainable finance markets as the country transitions to net zero. They unpack the strategy’s three core pillars, being improved transparency through credible and accurate information, financial system capabilities, government commitments and leadership on aligning to global frameworks.
Olga Klimczak, Natalie Gaspar and Shiv Jhinku take the wheel to explore HSF’s latest Future of Work report. They unpack the key ESG related findings including cost of living, pay and benefit inequalities as a potential trigger for activism, as well as a significant rise in demand for workplace health and wellbeing support. With Australia on the cusp of profound legislative change, and a raft of new sustainability reporting standards increasing business scrutiny, we discuss the new opportunities this provides to proactively and meaningfully engage with employees, particularly in light of Generation Z’s entrance into the workforce.
For more, check out our report: Future of Work 2023: https://www.herbertsmithfreehills.com/insights/reports/future-of-work-report-2023
Tim Stutt and Mel Debenham are joined by Silke Goldberg to debrief COP28 through the lens of four paradigm shifts – (1) climate finance, (2) fast tracking the energy transition and emissions reduction, (3) nature and people, and (4) the “just transition”. They close with reflections on the vital role of lawyers and the legal industry in bridging gaps and fostering agreement.
For more, check out our COP28 hub: https://www.herbertsmithfreehills.com/insights/key-topics/esg/COP28
How should governance structures support companies in meeting ESG obligations and aligning to frameworks?
Visit https://www.herbertsmithfreehills.com/latest-thinking/reporting-for-duties-%E2%80%93-esg-reporting-in-australia?utm_source=buzz-esg&utm_medium=podcast for more details.
With mandatory climate reporting on the horizon, and global standards for comprehensive broader ESG reporting also emerging, is there a role for the ASX Corporate Governance Principles going forward?
Visit https://www.herbertsmithfreehills.com/latest-thinking/reporting-for-duties-%E2%80%93-esg-reporting-in-australia?utm_source=buzz-esg&utm_medium=podcast for more details.
How should companies respond to the building pressure to disclose modern slavery incidents?
Visit https://www.herbertsmithfreehills.com/latest-thinking/reporting-for-duties-%E2%80%93-esg-reporting-in-australia?utm_source=buzz-esg&utm_medium=podcast for more details.
What is the proposed climate reporting regime and how will it align with existing frameworks?
Visit https://www.herbertsmithfreehills.com/latest-thinking/reporting-for-duties-%E2%80%93-esg-reporting-in-australia?utm_source=buzz-esg&utm_medium=podcast for more details.
Who will be caught by the incoming regime and how will it be phased in?
Visit https://www.herbertsmithfreehills.com/latest-thinking/reporting-for-duties-%E2%80%93-esg-reporting-in-australia?utm_source=buzz-esg&utm_medium=podcast for more details.
How can companies get comfortable with disclosing predicted company performance based on unsettled variables and uncertain transition trajectories?
Visit https://www.herbertsmithfreehills.com/latest-thinking/reporting-for-duties-%E2%80%93-esg-reporting-in-australia?utm_source=buzz-esg&utm_medium=podcast for more details.
Kathryn Pacey, environment and planning partner is joined by Isabella Kelly, ESG senior associate and Jaya Prasad, solicitor in our energy and resources team to discuss the role of carbon and biodiversity offsets in meeting net zero and nature positive goals. They peel back the layers of government targets and regulatory reforms including the review of the Environment Protection and Biodiversity Conservation Act, Safeguard Mechanism, Australian Carbon Credit Units - and the new Nature Repair Bill. Amidst the increasing use of carbon credits to offset emissions in reaching climate targets, yet more layers are revealed including greenwashing, activist attention and disclosure considerations under the upcoming mandatory climate reporting regime and ISSB standards. Further complexities arise from multi-stakeholder carbon abatement projects, contracting arrangements and financial services requirements.
Tim Stutt and Aoife Xuereb are joined by Jacqueline Wootton and Olga Klimczak for a Talking Shop X The Third Wheel podcast collaboration episode. Following the statutory review of the Modern Slavery Act and its report being tabled in parliament, the Government is yet to confirm its position in relation to the reform recommendations, many of which seek to align with overseas regulatory trends for enhanced human rights due diligence, supply chain transparency and penalties to support corporate accountability. Our team discuss the importance of monitoring developments, applying a continuous improvement approach to supply chain risk identification and management (which can be particularly complex in the consumer sector) and working to ensure your business has in place robust payroll compliance governance processes. For more, read our recent legal briefing on the Modern Slavery Act review (https://www.herbertsmithfreehills.com/latest-thinking/australian-modern-slavery-act-to-move-into-a-new-phase) or visit our Business and Human Rights hub (https://www.herbertsmithfreehills.com/latest-thinking/hubs/business-and-human-rights).
Finance partners Andrew McLean, Jon Evans and Elizabeth Charlesworth take the wheel this episode to discuss the evolution of green and sustainability linked loans, from federal government funders and other agencies to increasing interest from commercial banks, institutional investors and private capital. They discuss the key issues across mining, energy and infrastructure sectors, along with recent regulatory and industry developments addressing greenwashing and social targets (or “pinkwashing”).
In this episode, Tim Stutt speaks with partner Bryony Adams and senior associate Stephanie Crosbie for a discussion about financial crime and the governance and reputational risk exposures from regulatory non-compliance. The heat is on for boards, with the scale and penalties for money laundering being one of the fastest growing ESG areas. Our team unpack regulator expectations and what this means for directors in terms of getting across the risks, implementing a compliant and risk-based Anti-Money Laundering program and associated training, and importantly – setting a risk culture or “tone from the top”.
In celebration of International Women’s Day, partners Nerida Jessup and Natalie Gaspar from our employment, IR and safety practice speak with Jaclyn Booton, Executive Director of the Stella Prize, a major literary award celebrating Australian women’s writing. They reflect on 10 years of Stella and its significant influence on a more vibrant and equitable literary culture. An approach of “You lead, we’ll support” has been key to this success and will resonate with organisations seeking better diversity and inclusion outcomes. Visit stella.org.au - your book club will thank you!
In this episode, Mel Debenham and Isabella Kelly invite Mark Smyth, disputes partner to join our series exploring the themes from HSF’s report on Unlocking ESG Investment in Australia. With 58% of our report’s survey respondents, comprising more than 100 business leaders, seeing barriers to greater levels of ESG investment including legal, tax and tenure of investment, Mark expands on the difficulties for companies in talking about the long term benefits they expect to realise through ESG investments or announcing a strong corporate ambition on ESG.
Read our report here: https://insights.hsf.com/unlocking-esg-investment-in-australia/p/2?utm_source=Soundcloud&utm_medium=podcast&utm_campaign=EP25
In this episode, Tim Stutt and Mel Debenham are joined by Kathryn Pacey, environment and planning partner to discuss HSF’s report on Unlocking ESG Investment in Australia, and the long road for businesses assessing their supply chain and how to balance immediate pressures with long term ambition. 60% of our report’s survey respondents, comprising more than 100 business leaders, say their company has a net zero commitment ranging between now and 2050, but 40% say the commitments don’t reflect Scope 3 emissions in the value chain. Given regulatory uncertainty and inconsistency was cited as the only barrier unique to Australia, Kathryn discusses the swathe of regulatory changes facing businesses and their goals for emissions reduction and environmental protection.
In this episode, Tim Stutt and Mel Debenham are joined by Jacqui Wootton, disputes partner and co-head of HSF’s Australian corporate crime and investigations practice. In our second episode unpacking HSF’s report on Unlocking ESG Investment in Australia, we are firmly focussed on the “S”, a key issue emerging from our survey of more than 100 business leaders on accelerating investment in ESG outcomes. 80% of respondents say they have reviewed or plan to review their ESG policies and operations, with modern slavery in particular one of the issues most identified. Jacqui shares her thoughts on the challenges ahead for companies in not only meeting rising reporting and regulatory expectations, but how they are measuring whether their approaches are effective and driving positive change.
Read our report here: https://insights.hsf.com/unlocking-esg-investment-in-australia/p/1?utm_source=podcast&utm_medium=podcast&utm_campaign=third-wheel
Melanie Debenham is joined by Anél Joubert, ESG Manager and Jeremy McManus, GM Commercial and Investor Relations from Neometals, an emerging and sustainable producer of battery minerals. Anél and Jeremy discuss the prominence of ESG in their own roles and across Neometals’ markets and operations in Australia and Europe. They discuss the global and local transition to clean energy and energy storage spanning the battery and electric vehicle value chains.
Tim Stutt and Kathryn Pacey are joined by Dr Chris Greig, Princeton University to discuss the energy transition, industry decarbonisation, technology and investment. Dr Greig shares the origin story and highlights of Net-Zero America, the research project that not only quantifies but visually displays five distinct technological pathways, using known technologies, by which the United States could decarbonize its entire economy by 2050. He breaks down the four make-or-break critical issues for energy transition: (1) the unprecedented speed and scale of infrastructure to be built; (2) a flow of risk capital never seen before; (3) maintaining the social contract with communities; and (4) major workforce mobilisation and a just transition for workers. Dr Greig underlines the importance of Australia’s strong ambition and domestic emissions targets to achieve speed and scale. As for achieving net zero and becoming a major exporter of low emission energy - you won’t have to wait long for the Net-Zero Australia study findings to be released in August 2022. To participate in HSF’s survey on unlocking ESG investment in Australia and gain access to exclusive insights email ESG.tracker@hsf.com.
Melanie Debenham and Tim Stutt are joined by Kathryn Pacey to break down an historic election where climate change featured prominently. The first six weeks of a new government have provided much to discuss including the Climate Change Bill to be introduced in the first week of parliament, a review to ensure the integrity of the carbon credit system (and similarly the Safeguard Mechanism), a $20 billion investment in transmission infrastructure and a raft of commitments in relation to green energy technologies. Along with the review of the Environment Protection and Biodiversity Conservation Act, a new environmental regulator and likely greater focus on action to benefit biodiversity.
In this episode, our Employment, Industrial Relations and Safety team take the wheel again, with Nerida Jessup hosting special guests Anna Creegan and Lucy Boyd. Nerida, Anna and Lucy have a conversation around how organisations are responding to the increased community and shareholder expectations on transparency around sexual harassment and other workplace conduct issues. Together they look at the key drivers of this change including how the increased focus of safety regulators on sexual harassment has changed approaches to reporting, as well as the scrutiny around the use of non-disclosure agreements.
In this episode, Mel Debenham and Tim Stutt are back at the wheel to launch HSF’s report on Unlocking ESG Investment in Australia. The report unpacks the findings from our survey of more than 100 business leaders on the size and shape of the ESG investment challenges and opportunities. With the help of expert interviews across industry, the report explored the uncertainty about risk, returns and regulation to be addressed for businesses to adapt at the scale and speed to meet shifting investor and community expectations. This is the first episode in a series that will deep dive on the key report findings: insights.hsf.com/unlocking-esg-in…in-australia/p/1
In this episode, our Employment, Industrial Relations and Safety team take the wheel, with Nerida Jessup and Drew Pearson hosting special guest, Professor Brock Bastian, School of Psychological Sciences, University of Melbourne. They build upon an earlier episode (#14) and the concept that good work is good for people, by delving into some of the strategies that give people the capacity to respond to difficult experiences and navigate conflict, maintain positive relationships and build effective workplace cultures.
Listen to episode 14 here: Herbert-smith-freehills – The-third-wheel-podcast-esg-in-australia-episode-14
Following the publication of our 8th consecutive annual Corporate Debt Report with the Association of Corporate Treasurers, Stacey Pang, Senior Associate and Minolee Shah, Professional Support Consultant talk to Emily Barry, Professional Support Consultant about some of the themes relating to sustainable finance that came out of that report, and where the ESG finance market might go next.
In recognition of NAIDOC Week 2022, Mel is joined by First Nations colleagues Gemma McKinnon and Kishaya Delaney for a timely discussion, given Australia’s evolving political landscape and new government following the federal election, about the Uluru Statement from the Heart and the important progress we might expect. They explain its origin, how a First Nations Voice to Parliament could be enshrined in the constitution and the proposed Makarrata Commission to oversee the process of treaty-making and truth-telling.
In this episode, Tim invites our disputes team to share climate change and ESG litigation insights. Jojo Fan from our Hong Kong office and Mark Smyth from the Sydney office discuss the rapidly increasing developments globally including greenwashing, inadequate disclosure and challenges for manufacturing and governments. They share their insights on what the future of climate litigation may hold for the consumer sector.
In this episode, our Employment, Industrial Relations and Safety team take the wheel, with Olga Klimczak and Nerida Jessup hosting special guest, David Burroughs, Chief Mental Health Officer at Westpac. It’s an important, and lively, discussion on how organisations are shaping work and workplace culture so that our jobs are ‘good’ for our mental health. David speaks candidly about the issues corporates are grappling with and cautions against feel good programs with high visibility, low impact. For companies getting it right – giving people the opportunity to genuinely thrive - the business case is profound for a strategy that encapsulates performance, productivity and mental health. And in a podcast first, David fact checks our closing remarks – you’ll want to note down ‘psychological agility’!
In this short podcast, Tim Hunter-Jones, a senior associate in our asset finance team in London, looks at some of the issues in sustainable and green finance in the aviation sector, including the importance of the EU Taxonomy in determining what is sustainable, and the role of state aid in promoting a greater focus on ESG.
Speakers: Emily Barry, Professional Support Consultant and Tim Hunter-Jones, Senior Associate.
In the first episode for 2022, Tim and Mel are joined by Silke Goldberg, HSF’s Global Head of ESG and Climate Change practice lead. Silke embarks on some time travel to tackle the big ESG questions. After a ‘COP of two speeds’ last year, Silke asserts there is everything to play for at COP27 in Egypt this November, including investment opportunities and the final building blocks for a long-awaited global carbon market.
Mel and Tim discuss a key battleground ahead of the election, climate change action, with Graham Phelan, ESG Lead for Frontier Economics. Graham takes a look back at previous election results to predict whether climate change action and the recent natural disasters will influence the 2022 election outcome – and considers if it’s time to put carbon pricing back on the agenda. Graham discusses the importance of ESG for Australia’s international competitiveness and the proactive measures being taken by businesses and financial regulators to protect the economy and environment. Lastly, we touch on the issues impacting voters’ hip pockets – inflation, interest rates, petrol and (of course) beer prices.
In this final episode for 2021, some very special guest hosts take the wheel! Barbie-Lee Kirby, Responsible Business & First Nations Engagement Executive and Allira Jeffery, HSF Graduate discuss Wiyi Yani U Thangani (Women's Voices): Securing our Rights, Securing our Future, a once in a generation report led by the Aboriginal and Torres Strait Islander Social Justice Commissioner, June Oscar AO. Charlee-Sue Frail is an advisor to the commission and shares her experiences in the development of the report and capturing and responding to the rights, needs and aspirations of First Nations women and girls.
In this episode, Mel and Tim are joined by expert third wheel guest, Olga Klimczak, Executive Counsel, Employment, IR and Safety for Herbert Smith Freehills. Olga discusses the various parliamentary inquiries underway including sexual harassment and bullying in Australia’s parliament, sexual harassment against women in WA’s FIFO mining industry and the underpayment and job security inquiries – issues that are sure to come into sharp focus ahead of the federal election. Olga highlights the key areas to watch, and in particular any potential flow on impact for company policies and procedures. Mel also discusses the significant changes to Aboriginal Cultural Heritage management and some critical next steps.
Tim and Mel discuss corporate purpose with HSF’s previous Chair and Senior Partner, James Palmer, one of the UK's leading M&A, capital markets and corporate lawyers, with deep experience in corporate governance and regulation. James explores the overall framing of ESG, and the importance of approaching company strategy with purpose and authenticity. James speaks with passion on navigating the ethical dimension of ESG issues, from “just transition” in the energy sector through to Russia’s invasion of Ukraine.
In this episode, Mel celebrates International Women’s Day 2022 with HSF’s Chair and Senior Partner, Rebecca Maslen-Stannage and Andrew Pike, Executive Partner for Asia and Australia. Rebecca and Andrew share some personal reflections on progress made, and remaining challenges, in achieving lasting change in the legal profession. They discuss the importance of a diverse and inclusive culture to #BreakTheBias (this year’s theme) - including the importance of acknowledging bias still exists and “calling it when you see it”.
Will Breeze and Helen Beatty consider some of the trends they are seeing in the use of sustainability-linked loans in the oil and gas and mining sectors, respectively, and the opportunities and challenges that ESG finance throws up in this podcast with DJ Chak.
Speakers: Dhananjaya Chak (chair) (Senior associate, Finance Division, London), William Breeze (Partner, Finance Division, London) and Helen Beatty (Partner, Finance Division, London)
Also refer to Episode 11 in this series.
In this latest podcast in our Pensions and ESG series, Professor Iain Clacher, Professor of Pensions & Finance at Leeds University Business School and Lead Researcher for Pensions and Asset Management for the new Centre for Greening Finance and Investment, joins Michael Aherne, Pensions Partner, to discuss the plans for the Centre. During the discussion Professor Clacher outlines:
- the aims of the Centre and how it will support trustees, asset managers and other stakeholders make more informed decisions on climate related risks (starting at 2:30)
- the issues trustees and asset managers need to consider when assessing climate-related risks (starting at 5:10), and
- steps trustees can take to learn more about climate-related risks (starting at 20:00).
You can find out more about the new Centre for Greening Finance and Investment here.
To receive future podcasts in this series direct to your inbox subscribe to our UK pensions blog.
To view our other pensions podcasts, including the other podcasts in this series, click here.
In this latest podcast in our series on Pensions and ESG, Michael Aherne, Of Counsel, discusses what it means to implement a responsible investment strategy in practice with Caroline Escott, Senior Investment Manager at RPMI Railpen. In particular, Caroline shares:
- how her interest in responsible investment and stewardship began and her career journey to date
- how RPMI Railpen is preparing for the new governance and disclosure requirements relating to climate risks, and
- her views on how to engage with members on ESG and responsible investment.
In this second episode in our series on Pensions and ESG, Pensions Professional Support Lawyer, Tim Smith is joined by Emma Douglas, Head of DC at Legal & General Investment Management (LGIM) and they discuss:
- LGIM's approach to managing ESG risks in the context of its DC schemes and on behalf of its trustee clients
- the successes that LGIM has had through its engagement with companies and what happens when engagement doesn't work
- how trustees can assess whether their asset managers are taking ESG risks seriously
- how prepared the industry is to set climate-related metrics and targets and to conduct scenario analysis, and
- the risk of member complaints and legal challenges related to ESG issues.
To view all of the podcasts in this series click here https://hsfnotes.com/pensions/?m=podcasts. And to receive future episodes direct to your inbox subscribe to our UK pensions blog. https://hsfnotes.com/pensions/
In this podcast, Ashley Hamilton-Claxton, Head of Responsible Investment at Royal London Asset Management, shares her:
- views on how pension schemes and asset managers are responding to recent legal and regulatory changes relating to pensions and ESG
- insights on how attitudes to ESG risks are being affected by Covid-19
- tips on how trustees should go about preparing their new investment implementation statements
- expectations for how this area is likely to develop in the coming years, and
- thoughts on what the DWP's proposed new requirements regarding climate-relate risks would mean for trustees and asset managers.
Speakers: Tim Smith, Professional Support Lawyer, Herbert Smith Freehills and Ashely Hamilton-Claxton, Head of Responsible Investment at Royal London Asset Management
Fresh from presenting at the 12th Annual Sustainable Innovation Forum (SIF) which took place alongside COP26 in Glasgow, Timothy Stutt, Partner and Australian ESG Lead will share his key takeaways from the conference, in discussion with Graham Phelan, ESG specialist from Frontier Economics, Rebecca Maslen-Stannage, HSF Chair and Senior Partner and Melanie Debenham, HSF Partner in our environment, planning and communities practice.
In this episode, Tim and Mel are joined by expert third wheel guest, Lewis McDonald, Global Head of Energy for Herbert Smith Freehills. Fresh from presenting at the 12th Annual Sustainable Innovation Forum (SIF) which took place alongside COP26 in Glasgow, Lewis observes the number of zeros committed to net zero, at least $133 trillion as announced by Mark Carney’s Glasgow Financial Alliance. He asserts that the real challenge is creating enough investable net zero projects for the money – through a public / private blend of government support to achieve scale and efficiencies, and the legal mechanisms to make novel projects work.
Contact the speakers:
Timothy.Stutt@hsf.com
Melanie.Debenham@hsf.com
Lewis.McDonald@hsf.com
In this episode, Mel and Tim are joined by expert third wheel guest, Brooke Massender, Global Head of Pro Bono for Herbert Smith Freehills. Brooke discusses how ESG could be the roadmap that makes corporate purpose more meaningful - and why ESG is different this time around. Recorded on the cusp of the Australian Reconciliation Convention, she shares her optimism around cultural competency in organisations, and the need for increased representation of First Nations voices where decisions are being made anywhere and everywhere in Australia. Brooke closes with some practical tips for those prepared to move ‘from safe to brave’ – and the importance of asking uncomfortable questions.
Contact the speakers:
Timothy.Stutt@hsf.com
Melanie.Debenham@hsf.com
Brooke.Massender@hsf.com
In this episode, Tim and Mel are joined by two representatives from the Human Rights Resources and Energy Collaborative, Shaeron Yapp (South32) and Gemma Wilford (Fortescue Metals), who talk about practical approaches to implementing human rights diligence and remediation in significant global businesses.
Contact the speakers:
Timothy.Stutt@hsf.com
Melanie.Debenham@hsf.com
Following the launch of the Future of Work Report 2021: Remote/Controlled, Barbara Roth and Tyler Hendry sit down to discuss the Future of Work in the US and the rise of ESG and employee activism following #metoo, Black Lives Matter and the Covid-19 pandemic.
Speakers: Barbara Roth, Partner, Employment and Tyler Hendry, Senior Associate, Employment, Herbert Smith Freehills
In this second episode of our podcast series, Mel and Tim are joined by their expert third wheel guest, Antony Crockett, partner in our Hong Kong office. He leads HSF’s global Business and Human Rights practice and is a member of the firm's ESG leadership group. Antony shares with our hosts what ESG means to him, mandatory ESG due diligence developments in the EU and Human Rights due diligence, along with some practical tips.
Contact the speakers:
Timothy.Stutt@hsf.com
Melanie.Debenham@hsf.com
Antony.Crockett@hsf.com
In this episode, Tim and Mel are joined by expert third wheel guest, Dr Cameron Kelly, head of the Legal, Governance and Secretariat team at the Australian Renewable Energy Agency. Dr Kelly discusses Australia’s role in the global hydrogen economy, renewable technologies of the not too distant future and the role of micro-grids in delivering not only environmental, but social benefits for regional communities.
Contact the speakers:
Timothy.Stutt@hsf.com
Melanie.Debenham@hsf.com
In this episode, Mel and Tim are joined by expert third wheel guest, Mark Smyth, a partner in our litigation practice advising companies in relation to environmental, climate change and ESG issues, including responding to shareholder activism and defending ESG litigation. Mark shares the litigation themes he is seeing regionally and globally, including regulatory movements on greenwashing and the latest activity in the Federal Court regarding Environment Minister v Sharma case.
Contact the speakers:
Timothy.Stutt@hsf.com
Melanie.Debenham@hsf.com
Mark.Smyth@hsf.com
In this first episode of our Australian ESG podcast Tim and Mel are joined by their inaugural third wheel, Herbert Smith Freehills CEO, Justin D’Agostino. Justin discusses what ESG means to him, how the firm approaches ESG as well as what he sees in the broader business community.
Contact the speakers:
Timothy.Stutt@hsf.com
Melanie.Debenham@hsf.com
In this corporate governance podcast, we discuss the FRC Financial Reporting Lab's recent report on stakeholders, decisions and Section 172 statements with Phil Fitzgerald, Director of the Financial Reporting Lab, and Marie Claire Tabone, Project Manager of the Financial Reporting Lab. The report sets out investors’ expectations in relation to disclosures on stakeholders, the impact of decisions on them and section 172 statements and Phil and Marie Claire explain the key issues and guidance for companies coming out of this project. Further on the Financial Reporting Lab and its work can be found here - https://www.frc.org.uk/investors/financial-reporting-lab
This podcast looks at some of the issues that can arise when sustainability-linked loans are used in extractives industries as part of the drive for energy transition, and some of the trends that we are seeing in the market in this area.
Speakers: William Breeze, Partner, Nicola Kim, Senior Associate and Dhananjaya Chak, Senior Associate.
ESG and sustainability is the key corporate treasury trend and that has developed a self-perpetuating momentum, as was shown in the Herbert Smith Freehills Corporate Debt and Treasury Report 2021. In this podcast we discuss the development of sustainability-linked and green loans and bonds in corporate debt.
Speakers: Kristen Roberts, Amy Geddes and chaired by Emily Barry.
As COVID-19 continues to impact supply chains, Kristin Stammer is joined by John Laing, leading Consumer Sector Associate Partner at McKinsey to discuss lessons learnt to prevent futher supply chain shock and build resilient supply chains of the future, followed by perspecitives from China and environmental and social goverance issues with Tim Strutt and Nanda Lau.
Timothy Stutt, Rebecca Perlman and Leonie Timmers discuss some of the environmental, social and governance factors impacting banks across the globe and the opportunities that they present.
Gavin Williams and Rebecca Perlman highlight some of the environmental, social and governance factors (ESG) as key considerations in M&A decision-making.
Sustainability is now firmly at the top of the agenda, but the term has an enormously wide scope. To give some structure to the sustainable lending market, mirroring the approach of the bond market, two categories of sustainable loan are developing sustainability-linked loans and green loans.
In episode 6 chaired by Emily Barry, Gary Hommel and Nick Turner will look at their use in the real estate finance market.
In episode five, infrastructure partner Nicholas Carney is joined by partners Silke Goldberg and Timothy Stutt from our global ESG leadership team, to discuss why ESG is a core element of city planning and to bring you examples of how different cities from across the world are embracing ESG to build back better.
In this episode Partner Nicholas Carney is joined by Lewis McDonald (Global Head of Energy) and Matthew White (Head of Planning, London), to discuss the pressing need to make our energy consumption more efficient and cut emissions as our cities continue to grow.
As demand for energy continues to grow and emissions continue to rise, the need for cleaner sources of energy is paramount. In this podcast, Tim Pawul, Oil & Gas Council hosts a discussion with Nigel Jenvey, GaffneyCline and Lewis McDonald, Herbert Smith Freehills to explore ESG and decarbonisation in the context of oil & gas around the world, elaborating on the 5-step model for decarbonisation.
As the shift to integrate sustainability into investing continues to develop, an array of new rules and requirements are released as regulators attempt to catch up to investor demand.
In this episode, Ashley Hamilton-Claxton, Royal London Asset Management, shares her:
- views on how pension schemes and asset managers are responding to recent legal and regulatory changes relating to pensions and ESG
- insights on how attitudes to ESG risks are being affected by Covid-19
- tips on how trustees should go about preparing their new investment implementation statements
- expectations for how this area is likely to develop in the coming years, and
- thoughts on what the DWP's proposed new requirements regarding climate-related risks would mean for trustees and asset managers.
Covid-19 has highlighted the need for businesses and investors to develop a robust approach to ESG and corporate purpose. In this episode, Rebecca Perlman, Herbert Smith Freehills is joined by Philip Collins, Columnist at The Times and former chief speech writer to Tony Blair; and Will Martindale, Director of Policy & Research at the UN Principles for Responsible Investment. Our speakers draw upon their wide-ranging experiences to discuss the short-term ESG risks and opportunities and how to prepare for the months ahead as we move into the recovery phase.
What do the Government's audit and corporate governance reform proposals mean for companies?
In this podcast, we discuss the UK Government's long awaited consultation paper on audit and governance reform with the Financial Reporting Council's Kate O'Neill, Director of Stakeholder Engagement and Corporate Affairs, and Miranda Craig, Director of Strategy and Change. The consultation paper proposes some fundamental reforms in a number of areas in relation to audit, corporate governance and corporate reporting. In this podcast we consider some of the key issues for corporates including in relation to director liability and accountability, risk management and internal control process and procedures and audit and assurance. Visit the FRC website to hear more about the consultation and share your views.
Speakers: Gareth Sykes, Of Counsel, Kate O'Neill, Director of Stakeholder Engagement and Corporate Affairs and Miranda Craig, Director of Strategy and Change at the Financial Reporting Council
In this podcast, we discuss the Financial Reporting Council's Review of Corporate Governance Reporting with Maureen Beresford, Head of Corporate Governance at the FRC. The Review is the first to consider reporting in accordance with the 2018 edition of the UK Corporate Governance Code and considers issues including, compliance with the Code; purpose, culture and values; succession planning; diversity and stakeholder engagement. We discuss each of these themes in this podcast and look ahead to the 2021 AGM season.
Speakers: Gareth Sykes, Of Counsel and Maureen Beresford, Head of Corporate Governance at the Financial Reporting Council