In order to meet the requirements of the rapidly changing business environment and increasing cross-border regulation relating to sustainability, a new level of strategic sustainability and collaboration is needed. To address this shifting paradigm, D&I is launching a new kind of collaboration with creative consultancy Miltton to support our clients both in managing strategic sustainability and in understanding the growing regulation, integrating it into operating methods and translating it into business goals.
Promoting Strategic Sustainability
As the pressures of growing regulation and stakeholder requirements intensify, the need for strategic sustainability is becoming paramount. In fact, strategic sustainability is fast becoming an essential aspect of any modern business and thus, also a crucial part of a board member’s role. While the regulatory requirements and the responsibilities are getting stronger, so are the opportunities for value creation.
“Having spoken to a lot of board professionals in my Sustainability on Board -vlog series, sustainability is clearly considered a relevant issue both strategically and from the point of view of a board members’ own responsibility. In addition, sustainability is simply considered the right thing to do. What is needed is more tools to address it,” says Partner Hanna-Mari Manninen of D&I.
The aim of the newly launched collaboration is to support the work of the top management and the boards, in a multidisciplinary way, across the areas of corporate law, strategy and communication. The joint range of services includes coaching executives and board members, management evaluations and providing direct operative advice in specific situations, including board work, committee work, stakeholder communication etc. Surely, crisis communications is also an area where the clients will benefit from this joint approach. Just think about a situation where a company would have to respond to heavy accusations, in media or in a court proceeding, relating to an alleged human rights violation or for allegedly causing detrimental environmental impacts. The wisest approach? A joint one.
“Strategic sustainability creates value and sustainable growth for companies. Together with D&I, we can deliver a large range of services that leverage our combined knowledge and experience. In addition to regulatory knowledge, D&I has extensive experience in advising the boards and top management, as well as from major corporate transactions, disputes and other legal proceedings. All this combined with our top-level sustainability and communication expertise enables us to help our clients to prepare for and also benefit from the forthcoming regulations with concrete support“, says Eeva Taimisto, Director of Sustainability and Communications of Miltton.
A One-Stop-Shop for Legal Services and Communication
In a world increasingly defined by transparency, companies are required to demonstrate that they are meeting the standards of regulatory requirements and even exceeding them. Therefore, effective communication has emerged as a vital aspect, becoming almost as important as compliance itself. However, as regulations such as the EU Sustainability Reporting Directive (CSRD) and the proposal for the Green Claims Directive illustrate, communication is becoming significantly regulated, which presents an additional challenge for businesses trying to navigate the complexities of both sustainability and communication.
“Eventually, the Green Claims directive will not only bring obligations for companies, but also great opportunities. It sets a new frame for PR and marketing, which encourages creativity. Forerunner companies will be the ones who have their sustainability facts in order yet are able to make an impact with their story“, says Eeva Taimisto.
D&I and Miltton are committed to work seamlessly together in guiding their clients through the labyrinth of reporting and communication regulations and equip them with the necessary tools to effectively manage and communicate their compliance efforts. “For example, in order to comply with the disclosure requirements under both the CSRD (currently being implemented in Finland) and the proposed Green Claims Directive, you need to get the substance right first – and that is when the most complex legal questions come in. We believe that we can offer our clients the best comprehensive support with this one-stop-shop approach. Together with Miltton, we encourage our clients to be prepared. In sustainability related issues, you succeed by doing, not by waiting”, says Hanna-Mari Manninen.
“Based on several client surveys and researches conducted in Finland during the few recent years, large Finnish companies are increasingly interested in legal services relating to ESG and sustainability, and very curious about the developing service offerings. As such, there is nothing new in outside advisors collaborating to a certain extent while carrying out their respective assignments for the same client. The crux of this collaboration is in our joint service approach that we believe will bring our clients true competitive edge and most importantly, make it all manageable and efficient, whether it’s reducing litigation risks or supporting their brand value”, says Katja Hollmén, Director of Client Experience and Communications at D&I.
Mark Your Calendars – Coming Up Next
D&I and Miltton will kick off the fall season by jointly organizing a brunch seminar on 6 September, 2023 at the Miltton House in Helsinki. The main topic is strategic sustainability and the forthcoming regulatory changes, particularly from the board members’ perspective. The seminar is aimed at professional board members and other top management. Are you interested in attending? Please let us know at [email protected].
Miltton, established in 2001, is a leading Nordic advisor in communications, leadership, marketing, insight and stakeholder relations. Miltton is a multidisciplinary group of 350+ experts, representing different silos of society; business, media, politics, research, culture, sports, government, NGOs, and much more. Miltton’s strength is in combining these competences to help our clients navigate and succeed in an increasingly complex world. Miltton has offices in Brussels, Helsinki, Riga, Stockholm, Tallinn, and Washington D.C. Visit their website to find out more.