April 19, 2024


Equality opinion

Reed Smith launches Global Environmental Sustainability Plan 2024

Global law company Reed Smith announces the start of its World-wide Environmental Sustainability Approach 2024. 

With measurable and transparent targets, the plan underpins the firm’s continuing determination to evolving its operations and behaviours to drive long lasting environmental sustainability within the agency, its communities and the legal business.

Reed Smith’s approach has an preliminary two-year focus, with the expectation that the agency will announce a revised set of targets and timelines as the original milestones are realized. As a result of this sustained world work, the firm will develop on earlier environmental, social and governance (ESG) endeavours to cut down its carbon footprint and operate in a much more sustainable style.

The strategy is targeted on three vital preliminary priorities:

  • Reducing carbon emissions: In accordance with the greatest offered science, the agency recognises that there is an urgent need to speed up the changeover in the direction of world wide web zero emissions. Reed Smith is originally fully commited to lowering its carbon footprint by 20% by 2024. The business will publish its progress in opposition to this target in get to provide transparency on this crucial concern.
  • Recycling: The business is aiming to make all items utilized throughout its global operations recyclable or reusable by 2024. It is getting active methods to cut down the use of one-use plastics during its offices and will train and teach its individuals to make certain they are equipped to adhere to sustainable squander administration techniques when performing remotely.
  • Interior engagement: The agency will appoint two sustainability associates and two sustainability champions to drive the development of the firm’s sustainability ambitions. It will also build a ‘Green Team’ with representation from all its offices to make certain it achieves its sustainability ambitions in the course of the organization.

Nick Bagiatis, Reed Smith’s main operating officer, stated: “We have a responsibility to act sustainably in aid of our communities all over the world. The firm’s sustainability strategy reflects the shared determination of our people to this endeavor. Our approach will take a holistic tactic and establishes particular and measurable targets that will lead to impactful and tangible results. Our first targets are an essential first step on our journey to achieve sustainability.”

Reed Smith’s global environmental sustainability approach also contains a number of initiatives that will help to boost the firm’s strategy to safeguarding the atmosphere. These include things like:

  • Citizenship: All timekeepers can now on a yearly basis designate up to 25 several hours of perform and activities similar to sustainability assignments as billable time. The billable-hour credit score in direction of sustainability projects may well be the initial of its sort between international regulation firms.
  • Procurement: Reed Smith will undertake a critique of all suppliers and perform with them to ensure that their insurance policies and procedures are environmentally sustainable and align with the firm’s sustainability aims.
  • Investing in our atmosphere: The agency will reinvest cost savings produced through its sustainability procedures with charitable organisations that assist direct to a far more sustainable earth.
  • Guaranteeing firmwide sustainability: The firm will leverage most effective techniques from its most sustainable workplaces, from recycling and procurement to waste management and vacation, to create a gold regular that all of its places of work can emulate globally. 
  • Customer partnerships: The organization will host twice yearly roundtables with shoppers throughout industries to talk about developments, enhancements and alternatives for Reed Smith to make more improvements to greatly enhance its strategy to preserving the setting.

Sustainability billable-hours credit rating

Reed Smith’s enhancement of its billable-hrs policy for all timekeepers to contain get the job done on sustainability assignments is to recognise and reward the pursuit of sustainability. The 25 hrs of sustainability-similar management, advocacy, education and improvement will rely in the direction of the firm’s current 140 hours of billable credit score every calendar year for non-billable function. This coverage will take result June 1 2022.

This enhancement of the billable-several hours plan builds on the firm’s commitment to offer its lawyers and other timekeepers with vast-ranging progress alternatives. Timekeepers may well dedicate up to 140 hours of non-billable function toward billable credit history every calendar calendar year. These non-billable hours can be utilised for professional bono legal support, innovation tasks (up to 50 several hours) and range-related initiatives (up to 50 several hours). In addition, associates can conduct up to 50 several hours of “development in action” that present substantive on-the-position instruction that is not billed to a shopper.

Casey Ryan, Reed Smith’s world head of personnel, stated: “The expansion of the billable-several hours policy to involve sustainability tasks is a further improvement of our Associate Lifestyle initiative, which enables our lawyers to work on challenges of critical great importance even though making management capabilities and increasing their talent sets. These ordeals will more aid their authorized and expert enhancement and generate key advances in assist of sustainability.”

Qualifying functions for sustainability-relevant billable-several hours credit incorporate:

  • Serving in a management part on Reed Smith’s internal Inexperienced Staff
  • Leading or arranging sustainability-linked meetings and authorized initiatives
  • Attending instruction packages or workshops that emphasis on sustainability
  • Participating in consumer partnerships related to sustainability
  • Signing up for in other exterior sustainability partnerships, such as the Web Zero Lawyers Alliance

About Reed Smith

Reed Smith is a dynamic global legislation business devoted to assisting clients go their firms forward. With an inclusive lifestyle and revolutionary attitude, we produce smarter, extra innovative legal expert services that generate far better outcomes for our clients. Our deep business know-how, prolonged-standing relationships and collaborative framework make us the go-to partner for complex disputes, transactions and regulatory issues. Now celebrating extra than 140 several years of provider, our firm spans 30 offices with 3,000 people today, together with 1,700 lawyers.

For far more information, be sure to go to www.reedsmith.com.