ESG and Sustainability
Simonsen Vogt Wiig advices on sustainable development and assists in clarifying the requirements for compliance with Environmental, Social, and Governance (ESG). We advise on how ESG frameworks and overall risk management can be adapted to meet the new requirements and on the increasing expectations from financial investors, the authorities, consumers and society in general.
Our team is composed of lawyers with ESG and sustainability expertise across leading disciplines and market areas. We assist in areas such as green loans, green technology development, green construction and real estate development, sustainable marine industries and -shipping etc.
We assist with managing sustainability compliance in all aspects of corporate governance and steering. Our strategic advisors assist in identifying sustainability risks and ESG requirements in relevant industries and sectors.
Together with our customers, we uncover the opportunities in relation to new requirements for sustainable development and assist with ESG assessments (due diligence) in connection with transactions and other financial processes. We also assist with preparation for sustainability restructuring through optimization and with facilitation for the purchase or sale of companies.
We provide advice on the EU’s action plan for sustainable finance and the EU taxonomy, which in future will be of great importance to most companies. Sustainability risks and the new classification system affect most market sectors and -players, including banks, asset managers, investment firms and other financial institutions, energy companies, the shipping industry, the aquaculture industry and real estate developers. We help with the preparation of organizational and financial risk.
We assist with advice on the requirements for social sustainability and the new Norwegian Transparency Act that large companies are obliged to implement from 2022. We provide advice on the scope of the law and assist with due diligence assessments related to requirements for the companies themselves and their supply chain.
Our service offerings in area of ESG and sustainability includes among other:
- ESG assessments (due diligence) in connection with transactions and other financial processes
- Strategic advice in connection with sustainable development and compliance with regulations
- Screening and classification assessments related to sector specific business activities (EU taxonomy screenings)
- Mapping and risk assessment related to negative sustainability impact, which provides an opportunity for restructuring where the risk is greatest.
- Anchoring of due diligence assessments and sustainability throughout the company (governing documents, internal routines and procedures as well as employee training)
- Preparation of relevant language and liability provisions in various contractual matters