Roles for Lawyers in the Transformation

By: The Uncertain Solicitor, 21 March 2024

This article by The Uncertain Solicitor illustrates how many significant voices are expressing opinions about the need for new ways to engage with the world around us and identifies roles for lawyers in bringing these individual interventions into a coherent and compelling new narrative. It explores the following topics:

  • The perspective of pension fund trustees
  • The perspective of other large investors
  • Macro-stewardship
  • Consumer duties
  • Charity trustee investment duties
  • Directors duties
  • True & fair
  • Double materiality
  • Reputational considerations

The major cause of the climate and ecological crises we face is the unrelenting pursuit of profit maximisation and increased financial returns. In terms of cause and effect, vanishingly few contest this statement. A troublingly large number ignore it, however, and carry on regardless. Yet look around and more and more figures operating within the system and calling for urgent change. These can feel quite disparate, but common themes are discernible. Each might be regarded as a crack, letting some light in, and lawyers are as well placed as any to bring these together into a new way of conducting business and investment practice, which aligns greenhouse gas emissions reduction and nature restoration and financial sustainability.

The Uncertain Solicitor, 21 March 2024