The EMEA Green Guide by The Legal500 has just been released, marking the second time Sorainen has been recognised as an ESG-focused firm. This recognition underscores that we are a leading ESG practice in the Baltic region as well as our commitment to sustainability.
According to The Legal500, Sorainen brings expertise in high-value and landmark renewable energy projects and possesses deep knowledge in providing regulatory and project development advice to support the green ambitions of leading corporate clients and sustainability-focused organisations.
Over the last year we have experienced steady growth in the environmental, social and governance (ESG) related services we provide to clients. We also continue to invest in matters important for the long-term sustainability of our region. Recent examples of notable projects in this area include:
- advising Energiasalv on a EUR-800-million project regarding the development of a seawater-pumped hydro accumulation power plant with a capacity of 500 MW
- assisting Rail Baltica with a EUR-5.6-billion greenfield railway infrastructure project linking Finland, Estonia, Latvia, Lithuania, Poland, and the European standard-gauge rail network
- advising RGREEN INVEST on providing EUR 42 million in funding to the renewable energy company Green Genius, with the financing conducted through the issuance and subscription of project bonds
- through Sorainen’s Shared Mission project, we’ve advised the FudLoop startup, which manages food lockers to reduce food waste, and Filaret startup, which upcycles cigarette-butt waste into environmentally friendly 3D printing filament
- providing free legal and tax support to the Entrepreneurs for Peace project in Ukraine, as part of which the foundation undertook the restoration of the windows of a building that had been destroyed by explosions
We also conducted trainings for different clients on various ESG-related matters relevant to their business. For example, we provided training to the management board of BYKO-LAT on corporate governance issues and liability regulation, and trained a team from the Lithuanian Actuarial Society on sustainable finance-related legal requirements pertinent to the insurance sector.
As our experience proves, environmental sustainability, social responsibility and corporate governance are no longer optional add-ons but essential components of long-term success and resilience for any company. As corporations navigate complex regulatory frameworks and stakeholder expectations, they are increasingly turning to us for tailored advice on all ESG-related legal and tax issues.
To learn more about how our team can support you on your ESG journey, please contact Vitalija Impolevičienė, co-head of our ESG service line, at vitalija.impoleviciene@sorainen.com.
Increasing the focus on ESG
We have also made considerable progress in the field of sustainability in our internal business operations, as is reflected in the second edition of our annual Sorainen Sustainability report. Covering all the jurisdictions in which the firm operates, we have shown promising results and achievements, living up to the values our strategy is built on.
Some of our highlights from 2023:
- Sorainen Estonia was certified as a European Green Office
- We have started revising our purchasing and travel policies, as well as supply chain management procedures
- We continued working to improve the Environment Management System under ISO 14001, with the aim of getting it certified this year
- Due to the innovation at the core of our firm and our embrace of AI, we are the only law firm from the Baltic or Nordic regions ranked in this year’s FT Innovative Lawyers Index – Europe 2023
- We significantly increased a share of pro bono work and supporting impactful charity, innovative and start-up projects
- We aligned our sustainability report with GRI Standards to enhance transparency, comparability and reliability of our reporting efforts
- We opened Tartu HUB: remote working spaces in Tartu which promote the multifaceted development of young lawyers
Raising awareness
Giving back is an important value for Sorainen. To raise awareness about ESG and how it influences our daily lives, as well as the business environment, we constantly educate society as well as businesses in different formats, from podcasts with Äripäev radio to events at the Estonian Business School.
Our colleagues speak at such business conferences as “Sustainability that pays off ‘23” and “Nordic and Baltic sustainable business meeting” in Lithuania; the “Baltic Sustainability Award”, “One world, one future” and “Sustainable real estate and construction in the Baltics 2023” conferences in Latvia and many more.
As of this year, we have also started producing ESG newsletters with the most relevant information to help businesses to grow. Subscribe here if you would like to receive these newsletters.
The Global Green Guide
The Legal 500’s Global Green Guide is the first worldwide guide to the top law firms advising on issues around climate change, governance and sustainability, with the editors picking out the leading practices and individuals in each jurisdiction, recognising firms’ contribution to “green change” and ESG. The guide sees The Legal 500 go around the world, taking a global perspective on law firms that are key players in this field, i.e. firms that are in one way or another contributing to the “green transition.”
