Sustainable Development

Sustainable development today is not just an ethical trend, but a requirement of the market and regulators. Banks, large corporations and institutional investors evaluate partners based on ESG criteria (Environmental, Social and Governance). Credit conditions, access to exchange instruments and the company's reputation depend on this.

CLS offers systematic legal support in the areas of ESG and sustainable development. We help our clients to not only meet the growing demands, but also to turn the ESG agenda into a competitive advantage: reduce risks, attract green financing and build a long-term strategy.

Our approach combines a deep knowledge of Russian and international law with the understanding of real business processes. We work at the juncture of financial, corporate and environmental regulation, supporting the client the entire way from diagnostics to full integration of the sustainable development principles into the company's activities.

The direction of sustainable development at CLS is formed by specialists with unique experience in implementing large-scale ESG projects, including for leading European energy companies. The team possesses the necessary expertise in the entire cycle of implementing the principles of sustainable development – from integration into the operational activities of enterprises to compiling non-financial reports in accordance with international standards.

CLS experts participated in developing the historic UN General Assembly resolution “The 2030 Agenda for Sustainable Development.” Working in expert working groups, they contributed to the formation of global standards for sustainable development which today determine the vector of development of business and states around the world.

Key areas of our work

Sustainable financing

We help you understand the requirements of Russian banks and exchanges for ESG borrowers and issuers to attract ESG financing:

  • Building a road map of opportunities and conditions for attracting ESG financing in Russian banks and on Russian exchanges
  • • Analysis of the requirements of exchanges, investors and banks in the framework of ESG financing, development of recommendations for achieving “green” status in order to attract ESG debt financing instruments
  • • Advising on the procedure for attracting ESG financing on the Russian market
ESG strategy and corporate governance

We conduct diagnostics, identify gaps and build a holistic sustainable development management system. We integrate the UN Sustainable Development Goals (SDGs) into business processes.

  • ESG diagnostics: identifying gaps and best practices through benchmarking, gap analysis and analysis of stakeholders’ expectations and requests
  • Defining strategic directions and priorities in sustainable development
  • Developing an ESG strategy or an appropriate part of the corporate business strategy for integrating ESG processes
  • Building a detailed road map for achieving the company’s ESG goals and providing support during implementation (including setting relevant KPIs)
  • Improving ESG policies, building and regulating processes
  • Prioritization and integration of the UN Sustainable Development Goals, including further development of relevant activities and KPIs
Non-financial reporting

We bring reports in line with international standards (GRI, SASB, ISSB) and Russian recommendations (Ministry of Economic Development, Bank of Russia, Russian Union of Industrialists and Entrepreneurs).

  • Making non-financial statements compliant with the law and international standards and recommendations (ISSB, GRI, SASB), consulting support in the preparation of such statements
  • Bringing non-financial statements in line with Russian recommendations for preparing non-financial statements (Ministry of Economic Development, Bank of Russia, Russian Union of Industrialists and Entrepreneurs)
ESG ratings

We determine business priority ratings, develop measures to improve positions and adjust internal policies to meet the requirements of rating agencies:

  • Determining a company’s priority ESG ratings
  • Creating a road map of measures to improve the company’s position in ESG ratings
  • Development of recommendations for making changes to the company’s policies, procedures and publications on the web site, taking into account the requirements of ESG ratings
Carbon units and climate regulation

We advise companies in the oil and gas and other sectors on CO2 emission compensation, greenhouse gas validation and verification and placement of carbon units in the Russian register:

  • Offering optimal industry-specific solutions for oil and gas companies in the field of CO2 compensation
  • Advising companies on the possibility of greenhouse gas validation and verification by organizations accredited by the Federal Accreditation Service (RusAccreditation) for compliance with the provisions of GOST R ISO 14065-2022 “Greenhouse gases”
  • Advising companies on the possibility of placing their own carbon units in the carbon unit register
Green standards

We offer optimal solutions to meet international and Russian environmental standards, including in the real estate and construction sectors:

  • Determining a company’s priority ESG ratings
  • Creating a road map of measures to improve the company’s position in ESG ratings
  • Development of recommendations for making changes to the company’s policies, procedures and publications on the web site, taking into account the requirements of ESG ratings
Training and competence development in sustainability and ESG issues

We conduct turn-key seminars and programs, from basic ESG introduction to non-financial risk management and preparation for non-financial reporting.

  • Training programs and seminars are developed and adapted to meet the needs of the client and the target audience. Examples of topics:
    • Impact of sustainability trends on company practices
    • Managing non-financial risks
    • Introduction to ESG, the concept of responsible investing, requests and expectations of responsible investors
    • ESG ratings and indexes
    • The role of the Board of Directors / committees under the Board of Directors / top management in managing sustainable development
    • Preparation for non-financial reporting – building internal processes, determining the importance of topics and analyzing collected data

Practice Team

Anna Persiantceva

Head of PPP and Project Financing practice

Mikhail Shalygin

Head of Sustainable Development and Support for Oil & Gas Projects

Evgeny Sysoev

Senior Associate


News

Mikhail Shalygin elected to manage Committee for sustainable development at the Russian-German Chamber of Commerce

On October 5, the Russian-German Chamber of Commerce held a meeting and elections of the management to the Committee for…