CCRcorp Sites  

The CCRcorp Network unlocks access to a world of insights, research, guides and information in a range of specialty areas.

Our Sites

TheCorporateCounsel

TheCorporateCounsel.net

A basis for research and practical guidance focusing on federal securities laws, compliance & corporate governance.

DealLawyers

DealLawyers.com

An educational service that provides practical guidance on legal issues involving public and private mergers & acquisitions, joint ventures, private equity – and much more.

CompensationStandards

CompensationStandards.com

The “one stop” resource for information about responsible executive compensation practices & disclosure.

Section16.net

Section16.net

Widely recognized as the premier online research platform providing practical guidance on issues involving Section 16 of the Securities Exchange Act of 1934 and all of its related rules.

PracticalESG

PracticalESG.com

Keeping you in-the-know on environmental, social and governance developments

The role of Chief Legal Officer (CLO) is on the rise. A CLO oversees the legal department from a big-picture level, as opposed to a General Counsel which provides support in various legal matters. CLO’s have their attention split in many different directions as they set priorities for their legal departments. This includes managing compliance risks for ESG issues.

A new survey from the Association of Corporate Counsel and Exterro shows that the companies using the title have expanded from 21% to 25%, with 77% of CLOs report directly to the CEO. Survey respondents reported the following ESG issues as macro trends causing their organization to improve compliance efforts:

• Changing regulations on emissions

• Customer and investor pressures

• Customer focus on DEI/ESG related to the supply chain

• Customer pressure on carbon neutral plans

• Demands for transparency

• Environmental compliance requirements

Additionally, 69% of respondents indicated that they expect their focus on ESG to accelerate in the future. This is up from 66% in 2021.

With new reporting regulations in the EU, the upcoming SEC climate-related disclosures rule, and the ongoing anti-ESG conflict at the state and federal level, it’s no surprise that ESG is causing headaches for CLOs. The fact that most CLOs report directly to the CEO is additional evidence that ESG is making its way into decision making at the highest levels. The compliance and legal risk associated with management of ESG raise the profile of ESG issues, as companies seek to manage the increasing regulatory and reputational risks.

If you aren’t already signed up, subscribe to our complimentary ESG blog here: https://practicalesg.com/subscribe/ for daily updates delivered right to you. 

Back to all blogs

The Editor

Zachary Barlow is a licensed attorney. He earned his JD from the University of Mississippi and has a bachelor’s in Public Policy Leadership. He practiced law at a mid-size firm and handled a wide variety of cases. During this time he assisted in overseeing compliance of a public entity and litigated contract disputes, gaining experience both in and outside of the courtroom. Zachary currently assists the PracticalESG.com editorial team by providing research and creating content on a spectrum of ESG… View Profile