ESG - Corporate Social Responsibility By Any Other Name Might Fly in Earnings Call, as Well as Titles for Law Firm Specialized Practices

 "Companies test out different ways to talk 

about ESG without saying 'ESG'" 

Yahoo Finance, February 4, 2024

Come on, businesses will always be dealing with some aspect - frequently high-profile - of what has been termed forever as "corporate responsibility" or being "a good global citizen." And when that isn't proceeding the way or at the pace constituencies want, the lawyers will have to come in. The demand for the legal services will be there, sometimes more brisk than at other times. Law firms with a track record for being effective in resolving those kinds of conflicts will always have assignments.

But the recent wrench in the works that has caused everyone in the loop a new set of problems is that for a number of years now the focus on corporate responsibility has gone by the moniker "ESG" (Environmental Social Governance). To many that whole ball of wax is being interpreted as a fad like the interest in zombies and vampires. Good riddance that it's being phased out and nonono don't bring up the term in earnings call. (The term "AI," though, is quite welcome, even encouraged,)

Law firms might do themselves and their clients a big favor by being proactive on this one. For instance, they can retitle and rebrand the designated ESG practices they recently have established. The first one out of the gate had been Paul, Weiss' in April 2020. No slouches when it comes to emerging opportunity - ESG was getting hot - other large law firms quickly set up their own specialized ESG units. 

Clients with law firms handling their corporate responsibility matters probably don't want the media and other kinds of watchers to view that from any ESG perspective. That could make them appear woke or stuck in a time warp.

A smart law firm could be the early mover. It can structure a contest for those at their fav law school to conjure up a new title and a new description (marketing copy) for the services attached to what they traditionally do in corporate social responsibility. For the underclassman who comes up with the winner there would be a summer internship. For a student graduating something paid on the student loan nut. 

In most cases you have only one shot in communications. Jane Genova is a communications coach and content-creator. Complimentary consultation (please text 203-468-8579 or email janegenova374@gmail.com)

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