Last week, the Legal Sustainability Alliance (LSA) – the inclusive movement of legal firms committed to working collaboratively to improve the environmental sustainability of their operations and activities – released its 2016 Annual Report. This report, showcasing best practice in sustainability from UK firms, demonstrates a growing commitment to non-financial reporting in the sector.
Non-financial reporting is becoming an increasingly important part of maintaining competitive advantage in the legal sector. The business case for reporting non-financial data – including sustainability, CSR, health and safety and supply chain - is becoming increasingly stronger. Not only it is being seen as a way to reduce costs, attract new talent and drive business, it is also continues to be seen as fundamental in reducing corporate risk.
LSA’s 2016 Annual Report
Since 2011, Greenstone has delivered the LSA Reporting Tool, which enables 60+ UK law firms to report their sustainability credentials to the LSA. The tool, built on Greenstone’s robust software platform, enables law firms to calculate and report their carbon footprint, as well as evaluate their performance against LSA’s seven principles. This enables law firms to benchmark against their peers as well as further encourage firms to reach their sustainability goals and improve performance year-on-year.
The LSA uses the data submitted by its members to analyse performance and produce its annual report, which is published on its website. This year’s report highlights that, from the LSA member firms reporting – representing 53,651 employees - a total of 6,857 tonnes of CO₂ was removed from the sector; a 3% reduction from last year. It also reports a 5% reduction in per capita emissions and a 3% reduction in per m2 emissions.
Top UK law firms leading the way
At Greenstone we are seeing a significant increase in law firms moving beyond a high-level sustainability report with the requirement to collect, manage and report data in many different areas under the ‘non-financial reporting’ umbrella. There is also an increase in firms seeking software to enable them to streamline data collection and reporting which is particularly important for firms operating in multiple offices and global locations managing large volumes of data.
Greenstone software tools are currently implemented in 10 out of the top 15 UK law firms including Allen & Overy, Clifford Chance, DLA Piper and Hogan Lovells. Greenstone’s software is a single, modular solution to collect, manage and report all non-financial data across a global organisation.
As well as software, Greenstone has a dedicated team of industry experts to help, advise and support firms at every step of the reporting journey. We understand the specific challenges that law firms face and are committed to helping firms gather data that talks to you throughout the reporting year.
To find out how Greenstone can help improve your reporting, contact us to book a demo.