Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate change and decarbonisation
• Plastics and single-use packaging
• Changing consumer demands for sustainable food and goods
• Product/service offerings
• Operations/facilities
• Employee policies and practices

Climate Goals & Targets

Environmental Challenges

• Difficulty measuring the impact of sustainability work
• Sustainability viewed as an 'add-on' rather than core to business strategy
• Lack of designated sustainability leader in some organizations

Mitigation Strategies

• Embed sustainability into business strategies and objectives
• Position sustainability as a central part of the company’s business strategy
• Include dedicated sustainability leaders

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Community Engagement
• Pro Bono Legal Services

Environmental Achievements

• Implemented sustainable practices in Singapore office, including energy-saving LED bulbs (75% less energy than standard bulbs), designated recycling areas, reduced unnecessary travel, and invested in technologies for virtual interaction.
• Provided pro bono legal support to several organizations focused on environmental sustainability (SEAS, GCNS, SGBC, WMRAS, ESI, HFCAS, WWF, SEC, CGS).

Social Achievements

• Provided pro bono legal services through the Criminal Legal Aid Scheme (CLAS), with lawyers committing 10-15 hours per case on average.
• Participated in charity book drive (Read for Books 2020), raising 1000 books for underprivileged children.
• Supported various registered charities (Cycling Without Age, SOS Children's Villages International, Club Rainbow, Singapore Academy of Law STAR Bursary) through pro bono legal services, fundraising, and donations.

Governance Achievements

• Established a Sustainability Committee comprising members of the Board and Executive Committee to focus on sustainability commitments.
• Regularly monitors energy usage and encourages staff to reduce consumption.

Climate Goals & Targets

Environmental Challenges

• Reducing carbon footprint as a global business despite main activities not producing significant emissions.

Mitigation Strategies

• Measuring, reporting on, and taking action to improve environmental footprint; implementing sustainable practices in the Singapore office; reducing unnecessary travel; investing in carbon compensation and offsetting tools; providing environmental sustainability guidance to remote workers.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Renewable Energy
• Climate Change
• Sustainability

Environmental Achievements

• 46 GW of clean power deals contracted through Corporate PPAs in 2023
• 74% growth in European Corporate PPAs between 2022 and 2023
• 73 PPA deals signed in Europe in Q1 2024 with a total capacity of 5.4 GW

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Demand for Corporate PPAs outpacing green energy generation
• Intermittency of renewable power requiring supplementary power sources
• Protracted negotiations (12-24 months)
• Lack of contractual standardization
• Change in law risks
• Creditworthiness/bankability of offtakers
• Potential for corporate default if wholesale power prices decline
• Inconsistencies between regulatory regimes
• Complexity of getting Corporate PPAs approved by banks/investors
• Grid connection delays
• Generators pivoting to government-backed revenue streams
• Regulatory constraints (e.g., ring-fencing of UK REGOs)
• Supply chain difficulties
• High interest rates and expensive equipment contracts
• Local opposition to wind farms (Sweden)
• Lengthy approval processes for RES projects (Croatia)
• Different ideas between seller and buyer about electricity price (Czech Republic)
• Legal and financial challenges hindering PPA growth (Denmark)
• Feasibility challenges and regulatory uncertainties for offshore wind (Finland)
• Price volatility and low spot prices (Spain)
• Grid constraints and lengthy connection times (UK)
• Uncertainty about pricing and construction costs (USA)

Mitigation Strategies

• Government-sponsored financial incentives (Europe)
• Standardised PPA commercial/contractual models
• Blockchain PPAs for easier demand aggregation
• New technology enabling 24/7 renewable power purchase
• Smaller corporates joining together to share risk
• Government support schemes (France, Germany)
• Capacity Investment Scheme (CIS) in Australia
• Virtual PPAs (Croatia, Hungary, Romania)
• Innovative balancing circle membership arrangements (Hungary)
• Regulatory changes supporting on-site solar installations (Hungary)
• Energy communities and simplified PPAs for non-professional actors (Italy)
• Guarantee Fund (Netherlands)
• PPAssurance guarantee product (Netherlands)
• Contracts for Difference (CfD) auctions (UK)
• Energy intensive industries support (UK)
• TMO4+ grid connection reform plan (UK)
• Inflation Reduction Act (USA)

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 13 (Climate Action)

Corporate PPAs contribute to these goals by increasing renewable energy adoption and reducing carbon emissions.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• The Lawyer’s Energy & Infrastructure team of the year (2021)
• European Corporate Team of the Year Award (2022)

Environmental Metrics

ESG Focus Areas

• Energy Transition
• Renewable Energy
• Climate Change
• Sustainability
• Supply Chain
• Digitalization
• Hydrogen
• Critical Minerals
• Safety
• Compliance

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Bottlenecks in renewable energy growth (permitting, grid infrastructure)
• Critical mineral supply chain risks (palladium, graphite)
• Market volatility and uncertainty in offtake contracts for critical minerals
• Public opposition to mining projects
• Costly green hydrogen production
• Cybersecurity risks associated with digitalization and AI
• Data protection concerns in the energy sector
• Shortage of skilled professionals in AI for the oil and gas sector
• Legacy systems hindering AI integration in oil and gas
• Job displacement concerns due to AI in oil and gas

Mitigation Strategies

• Policy reforms to expedite renewable energy project approvals (e.g., UK's 'Getting Great Britain building again' policy)
• EU's Action Plan for Grids, Regulation on Trans-European Networks, and Recommendations on Energy Storage
• Increased investment in domestic mining capacity and collaboration with international partners
• Development of domestic recycling strategies for critical minerals
• Investment in technologies to make green hydrogen production more affordable
• Robust security measures to safeguard automated systems from cyber threats
• Comprehensive change management and retraining programs for the workforce in oil and gas
• Investment in data quality and integration, training and development opportunities for employees in oil and gas
• Collaboration with technology providers and regulatory bodies to address regulatory and ethical concerns in oil and gas

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Increased focus on securing supply of critical minerals; development of downstream operations, such as magnet recycling plants

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products and services; Green hydrogen production

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 9 (Industry, Innovation and Infrastructure)
• Goal 13 (Climate Action)

Initiatives related to renewable energy, energy efficiency, hydrogen, and critical minerals contribute to these goals.

Sustainable Products & Innovation

• Green hydrogen
• AI-driven solutions for energy efficiency and emission reduction

Awards & Recognition

• Not disclosed