Von Wobeser y Sierra Announces Creation of ESG Practice GroupBy Cas Biekmann | Wed, 08/18/2021 - 16:30
Leading law firm Von Wobeser y Sierra announced the creation of a new Environmental, Social and Governance (ESG) practice group to provide integrated legal services. The initiative is a response to a growing demand in evolving global markets such as Mexico, where ESG-based issues continue to gather more attention.
The new practice group is no surprise when looking at the rising importance of ESG, the group assures. Using research from Bloomberg Intelligence and Morningstar, the law firm assumes that ESG assets will grow at 15 percent to reach a value of US$53 trillion by 2025 in a conservative estimation. This is more than a third of the global projected US$140.5 trillion. The US is particularly interested in sustainable investing, with over 72 percent of investors expressing a marked interest in ESG-based financial products.
“Companies that have adopted an ESG approach are more resilient and achieve better financial results in environments such as the one we live in. That is why we want to contribute to the integration of an ESG perspective in our clients’ operations. It will allow them to address this new complexity and build a better business future through an adequate management of their impact on the environment, the communities, and other stakeholders,” said Claus von Wobeser, Founding Partner and member of the firm’s executive committee.
“We are excited to be trusted advisors and strategic partners of our clients by using our ‘ESG lens’ not only as a risk management tool, but also as a gateway to develop opportunities for companies to thrive in a more resilient, sustainable and equitable society,” said Partner and member of the ESG practice group, Pablo Jiménez.
Von Wobeser y Sierra’s decision to make ESG criteria the focus of a new practice area does not exist in a vacuum. Although Latin America is not developing as rapidly on the criteria as the US and the European Union Are, demand for ESG investing is still increasing sharply. Investors see ESG-positive products and companies as better long-term investments because they believe their sustainable characteristics will hold up better in the future. Topics such as climate change, human rights, racial and social equality are important to modern investors, a growth partially spurred on by the COVID-19 pandemic and its effects on society. Von Wobeser y Sierra mentions it is one of the first Mexican law firms to structure its own ESG practice group.