--- title: Global Alliance of Impact Lawyers (GAIL) description: The Global Alliance of Impact Lawyers (GAIL) is a community of legal leaders who are using the practice of law to have a positive impact on people and the planet, and to accelerate the just transition. image: https://gailnet.org/wp-content/uploads/2022/07/Job-post-image_050722.png --- [Insights](https://gailnet.org/insights/) / [GAIL Special Project](https://gailnet.org/category/policy/gail-special-project/), [Policy](https://gailnet.org/category/policy/) / ## [Scaling True & Fair](https://gailnet.org/scaling-true-fair/) ## Insights ![](https://gailnet.org/wp-content/uploads/2022/07/Job-post-image_050722.png) [GAIL Special Project](https://gailnet.org/category/policy/gail-special-project/), [Policy](https://gailnet.org/category/policy/) ## Scaling True & Fair September 17, 2025 [Asia Pacific](https://gailnet.org/region/asia-pacific/), [Europe](https://gailnet.org/region/europe/), [United Kingdom](https://gailnet.org/region/united-kingdom/) GAIL Collaborates with Social Value International to Expand Groundbreaking Legal Research from Europe to Asia Pacific What does it mean for a company’s accounts to give a *“true and fair”* view? This longstanding requirement has been central to corporate reporting for decades, but recent legal analysis has brought new urgency to the question. In particular, a landmark UK legal opinion by George Bompas KC concludes by urging directors to “exert themselves” in fulfilling the true and fair requirement in the context of sustainability, including consideration of whether sustainability-related issues, such as climate impacts, water use, or unpaid labour, should be reflected directly in financial accounts. As sustainability reporting frameworks gain global traction, the True & Fair project led by [Social Value International](https://www.socialvalueint.org/) (SVI) challenges us to rethink profit and corporate accountability itself—ensuring hidden costs to society and the environment are no longer invisible in company balance sheets. ## **GAIL’s European Leadership** In 2024, GAIL partnered with SVI to test how the UK legal opinion might apply across Europe. GAIL members in the UK, Italy, France, and other jurisdictions undertook national legal analyses, producing reports that shed light on how *true and fair* duties operate within different domestic and EU frameworks. These contributions not only added new dimensions to the issue but also involved GAIL members as thought leaders in reimagining the role of law in embedding sustainability into the heart of corporate governance. ## **Expanding to Asia Pacific** Building on this work in Europe, GAIL and SVI are now replicating the research across Asia Pacific. Lawyers in **Australia, Japan, Hong Kong, Malaysia, and Singapore** will examine how “true and fair” (or equivalent legal concepts) appear in their jurisdictions, asking five key questions: - Where does the duty sit in law? - How is it interpreted in practice? - Are there comparable concepts or overrides of accounting standards? - Which authorities provide guidance? - How might it extend to sustainability and non-financial reporting? This cross-regional effort reflects GAIL’s mission: to **scale impactful legal research across jurisdictions** and create the conditions for transformative legal infrastructure worldwide. ## **Opportunities for GAIL Members** For GAIL members, this project is more than research. It is a chance to: - Take on visible leadership roles as lead or supporting lawyers for this research; - Share expertise and insights and provide legal thought leadership; - Shape how legal duties around sustainability reporting are understood globally; - Be profiled as part of a unique, cross-regional initiative that connects impact lawyers across continents. ## **Join the Cross-Regional Learning Session** GAIL will host a **1-hour cross-regional “teach-in” round table** at** 8AM UK**/**9AM CEST/8PM HKT on Monday, 29 September 2025**. GAIL Europe members who led this research in European jurisdictions will share their learnings, challenges, and perspectives with their Asia Pacific counterparts—passing the baton of knowledge and helping to ensure a strong, coherent global body of legal research on true and fair accounting practices. We invite interested GAIL members to join this session, contribute to the conversation, and connect with colleagues leading this cutting-edge work. Please email [events@gailnet.org](mailto:events@gailnet.org) if you’d like to join this session.  ![](https://gailnet.org/wp-content/uploads/2023/02/resized-Social-Value-International-Logo-1-1024x262.png) ![](https://gailnet.org/wp-content/uploads/2025/02/SVI_TF_Logo_-ColourOnDark1-1024x256.png) ## Topics [Corporate Governance](https://gailnet.org/topic/corporate-governance/), [ESG](https://gailnet.org/topic/esg/), [Legislation and Regulation](https://gailnet.org/topic/legislation-and-regulation/), [Systems Change](https://gailnet.org/topic/systems-change/) ## Author - [![](https://gailnet.org/wp-content/uploads/2022/06/Keya-profile-picture-380x380.jpg)](https://gailnet.org/people/keya-advani/) ## [Keya Advani](https://gailnet.org/people/keya-advani/) [See more → : Keya Advani](https://gailnet.org/people/keya-advani/) [← Back to all Insights](https://gail.staging-001.dev/insights/) ## Related Insights - [![New Research on True and Fair in the EU](https://gailnet.org/wp-content/uploads/2025/09/1756797416629.jpg)](https://gailnet.org/new-research-on-true-and-fair-in-the-eu/) [Article](https://gailnet.org/category/article/) ## [New Research on True and Fair in the EU](https://gailnet.org/new-research-on-true-and-fair-in-the-eu/)September 16, 2025 Social Value International SVI’s True & Fair Project has released a research paper examining how the “true and fair” requirement in EU law is interpreted in Italy, the Netherlands, France and Spain, and what it means for directors, auditors and investors as sustainability issues become increasingly material. [See More →](https://gailnet.org/new-research-on-true-and-fair-in-the-eu/) - [![True \& Fair Project:](https://gailnet.org/wp-content/uploads/2025/02/UK-guide-banner-landscape.png)](https://gailnet.org/true-fair-project/) [Article](https://gailnet.org/category/article/) ## [True & Fair Project:](https://gailnet.org/true-fair-project/)February 13, 2025 Social Value International The True & Fair Project has released a new guide to assist UK company directors who recognise the importance of incorporating sustainability-related information into their financial statements to ensure a true and fair view. [See More →](https://gailnet.org/true-fair-project/) [![back to top](https://gailnet.org/wp-content/uploads/2023/12/Screenshot-2023-12-01-at-11.13.05-AM-e1701447750880.png)](#single-page-top) ## Become a Member [**JOIN**](https://gailnet.org/?page_id=73) [**LOG IN**](https://gailnet.org/?page_id=9) ## Your cart (items: 0) ## Products in cart | Product | Details | Total | | --- | --- | --- | Subtotal £0.00 Taxes and discounts calculated at checkout. [View my cart](https://gailnet.org/cart/) [Go to checkout](https://gailnet.org/checkout/) **Your cart is currently empty!** [Start shopping](https://gailnet.org/shop/) Notifications