- There is a steady increase in law suits investigating statements made in their sustainability reports. The recent BP oil spill case is a good example of this, where the ‘sustainability’ statements of their report was scrutinized
- Attorney-client privilege should shield disclose of draft sustainability reports and communications involving lawyers advice, allowing transparent and honest communications in preparing reports
- Companies need lawyers input to advise them on the requirements of mandatory reporting – for example SEC and UK Companies Act 2006
- Managing risk-companies need lawyers input to advise them on how to manage their potential legal liability risks. Early implementation of appropriate risk management strategies can prepare parties to transition from voluntary to mandatory reporting.
- Evaluating contractual relationships between parties to the reporting organization and service providers. What if the IT company collating software inadvertently discloses information that is confidential?
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