Sustainability & Environmental, Social & Governance (ESG)

ESG Legal Compliance Services

Al-Hamad Legal Group is pleased to announce the launch of a new Sustainability and Environmental, Social and Governance (ESG) Advisory practice to help listed and non-listed companies based in the Stare of Kuwait, boards and senior management navigate the legal, business and political ramifications of developing and implementing Sustainability and ESG initiatives. Our team has developed a renewable energy project practice with multiple success stories working with leading regional alternative energy technology services and solution providers and seek to offer clients strategies to adopt corporate governance best practices and risk mitigation, guidance and implementation of sustainability programs and sustainability investment strategies for financial institutions.

On January 30, 2017, the Government of Kuwait unveiled the country’s National Development Plan, branded as “New Kuwait”. Derived from the late Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al Sabah’s vision statement, the Kuwait National Development Plan mobilizes development efforts across seven pillars with the aim of transforming Kuwait into a financial, cultural, and institutional leader in the region by 2035. The seven pillars are also in line with the United Nations Sustainable Development Goals (SDGs).

According to its website, Boursa Kuwait #boursekuwait has developed this corporate sustainability disclosure guide with the aim of supporting Kuwaiti listed companies report on Environmental, Social, and Governance (ESG) issues, in order to meet the growing needs of various stakeholders, including investors, customers, suppliers, and regulators for transparent and regular information.

We have worked with some of the leading impact investors, family offices, philanthropists, non-profits, high-growth companies, and global corporations on their ESG-related deals, regulatory compliance, and ESG policies. We are proud to have supported clients in several areas including healthcare and wellness, energy and climate change, and education, among others.

The new legal and regulatory frameworks replace the previously voluntary reporting standards issued by non-governmental organizations and require that businesses proactively address ESG matters, our team draws from its extensive global government experience to provide our clients a unique perspective in successfully navigating rapidly evolving ESG-related policy, regulatory, and legislative developments, maximizing opportunities while minimizing risks.

Areas of Service

Investors, boards, management, employees, consumers, and regulatory agencies are among the stakeholders worldwide for whom ESG issues are becoming a top priority. With an eye toward the often-disparate needs of this wide spectrum of stakeholders, our ESG advisory team offers comprehensive services to help companies protect their interests, promote good stewardship, and establish reporting initiatives that will directly enhance their organization’s leadership role as global citizens, while increasing their growth potential and other measures of success. Our ESG team offers businesses counsel on:

• Policy, regulatory, and legislative developments. Analyzing issues ranging from environmental compliance and corporate governance to public company disclosures and government contract procurement and advocating for our clients’ interests in response to proposed regulatory and legislative requirements.
• Legal requirements and best practices. Evaluating the policies and practices that organizations implement to comply with relevant legal and regulatory frameworks and, increasingly, assisting clients in adopting and implementing ESG policies voluntarily due to stakeholder pressure. This includes voluntary disclosure practices, supply chain management, executive compensation policies, data privacy, and cybersecurity measures.
• Transactional risks and compliance. Working with organizations to identify, understand, and manage governance risks and liabilities in transactions by conducting due diligence across a broad array of areas, including environmental law compliance, executive compensation, and employment practices, and by negotiating the appropriate allocation of those risks and liabilities amongst all involved parties.
• Complex Commercial Contracts. Negotiating complex agreements such as engineering, procurement, and construction contracts and operation and maintenance agreements, and counselling clients on related issues with respect to subcontractors, vendors, customers, and other third parties.