Ropes & Gray’s ESG Partners Featured in Bloomberg Law Article on Growth of Law Firm ESG Practices
A Sept. 25 Bloomberg Law article titled “Ethical Investing’s Shifting Winds Force Law Firms to Be Nimble” discusses the growth of ethical investing and corporate social responsibility, reporting that “nimble law firms are responding by creating specialized legal teams.” The article features insights from asset management partner Melissa Bender, strategic transactions partner Michael Littenberg and ERISA partner Josh Lichtenstein.
“We’ve really reached … a tipping point,” Melissa told Bloomberg Law. “ESG integration is here to stay.” Though some companies regard ESG as a recent phenomenon, Michael highlights that ESG and CSR principles have been steering financial decisions for decades, adding that Ropes & Gray is currently working with more than 200 clients, ranging from asset managers to influential trade groups, on ESG-related issues.
In discussing the Labor Department’s proposals to impose significant reporting requirements on retirement plan administrators considering ESG in investments, Josh highlighted that these requirements could ensnare “funds that just include ESG considerations as part of their risk evaluation framework” rather than the activist entities the administration appears to want sidelined.