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Navigating the Legal Labyrinth: ESG Compliance Management as a Legal Service

In: Exploring ESG Challenges and Opportunities: Navigating Towards a Better Future

Author

Listed:
  • Kinga Flaga-Gieruszyńska
  • Neringa Gaubienė
  • Kristina Pranevičienė
  • Piotr Krzystek

Abstract

Purpose: ESG compliance management is transforming legal practices through its necessity in the current corporate world, and its role in limiting legal risk in the ESG area. Methodology: A qualitative research approach, relying on a range of sources, including legal sources, case studies, and information on the practical aspects of the work of lawyers specialising in ESG compliance management, the methodology facilitates a deep understanding of the practical aspects of ESG compliance management and its integration into legal services. Conclusions: Results show that ESG compliance management is becoming an indispensable part of legal services due to the increasing complexity of regulations and the need for proactive ESG risk management strategies. The growing demand for specialised lawyers adept in compliance strategies, the importance of developing ESG concepts in business practice, also reveals the role of technology in enhancing the efficiency and effectiveness of ESG compliance management practices. Limitations: Limitations in its scope, primarily due to the rapidly changing nature of legal regulations and ESG compliance requirements, mean this study is constrained by the variability of ESG compliance practices in different areas of the legal services market, which may affect the generalisability of the findings. Future Research: The impact of emerging technologies on ESG compliance management, the evolution of regulatory frameworks in response to global challenges, and the development of standardised best practices for ESG compliance management in the legal services market areas.

Suggested Citation

  • Kinga Flaga-Gieruszyńska & Neringa Gaubienė & Kristina Pranevičienė & Piotr Krzystek, 2024. "Navigating the Legal Labyrinth: ESG Compliance Management as a Legal Service," Contemporary Studies in Economic and Financial Analysis, in: Exploring ESG Challenges and Opportunities: Navigating Towards a Better Future, volume 116, pages 3-24, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:csefzz:s1569-375920240000116002
    DOI: 10.1108/S1569-375920240000116002
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    More about this item

    Keywords

    ESG compliance management; legal services; corporate governance; compliance strategy; technology; sustainable development; K22; Business and Securities Law; K23; Regulated Industries and Administrative Law; K32; Energy; Environmental; Health; and Safety Law;
    All these keywords.

    JEL classification:

    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law

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