Cravath Publishes Winter 2026 Issue of Alumni Journal
Environmental, Social and Governance (ESG)
Environmental, social and governance (ESG) considerations have become an increased area of focus and importance for both value creation and risk mitigation to investors, regulators and various other stakeholders. Cravath delivers unparalleled legal expertise and business judgment in advising our corporate clients and their boards of directors on evolving, and often novel, challenges and opportunities associated with ESG issues, whether clarifying the highly‑fractured private ESG space, understanding the direction of travel at the SEC and other regulatory bodies or strategically addressing shareholder and other stakeholder concerns.
Our lawyers bring together an exceptional depth of experience in corporate governance and public reporting obligations, as well as environmental, climate and other sustainability matters, to counsel clients on developments in the ESG space. Our multi‑disciplinary approach allows us to engage in the full range of the questions and bespoke issues that may arise. Additionally, Cravath serves as a trusted advisor to senior management and boards of directors. Our deep client relationships translate to a thorough understanding of the legal and business objectives to provide strategic solutions for our clients’ ESG needs.
Lawyers in our ESG practice also provide expert counsel with respect to disclosure responsibilities and opportunities in the ESG space, whether arising as a result of legally required disclosures, as part of our clients’ sustainability reporting processes or in response to inquiries from shareholders or ESG ratings agencies or scorecard providers. We are experienced in working with our clients to establish appropriate governance procedures and controls processes so that ESG risks and strategies can be appropriately monitored by boards and management, and information can be presented in a way that is relevant, comparable, consistent and reliable. Cravath regularly advises companies in connection with ESG shareholder proposals and other year‑round shareholder engagement and communications around ESG issues. We also handle investigations and litigation arising from ESG‑related matters.
Our ESG capabilities include:
- Understanding and navigating the complex environment of ESG‑related framework providers, standard‑setting bodies and ratings providers, including international ESG‑related regulatory requirements;
- Responding to ESG‑related shareholder communications or shareholder proposals;
- Reviewing and assisting with the preparation of sustainability reports and other ESG‑related disclosure;
- Advising on the set‑up of ESG programs, including advice on appropriate disclosure controls and procedures for sustainability reporting;
- Establishment of ESG governance processes and procedures for the supervision of ESG risks and strategies; and
- Preparing for requirements for ESG disclosures in reporting, including recently adopted SEC climate reporting rules.
Cravath’s experienced ESG team includes previous leaders at the SEC, including the former Director of the Division of Corporation Finance who initiated the project that later became the 2010 Commission Guidance Regarding Disclosure Related to Climate Change. Having shaped the dialogue surrounding ESG disclosure for many years, our lawyers continue to influence the conversation, as well as the education around and development of this dynamic and ever‑changing area.
Our lawyers bring together an exceptional depth of experience in corporate governance and public reporting obligations, as well as environmental, climate and other sustainability matters, to counsel clients on developments in the ESG space. Our multi‑disciplinary approach allows us to engage in the full range of the questions and bespoke issues that may arise. Additionally, Cravath serves as a trusted advisor to senior management and boards of directors. Our deep client relationships translate to a thorough understanding of the legal and business objectives to provide strategic solutions for our clients’ ESG needs.
Lawyers in our ESG practice also provide expert counsel with respect to disclosure responsibilities and opportunities in the ESG space, whether arising as a result of legally required disclosures, as part of our clients’ sustainability reporting processes or in response to inquiries from shareholders or ESG ratings agencies or scorecard providers. We are experienced in working with our clients to establish appropriate governance procedures and controls processes so that ESG risks and strategies can be appropriately monitored by boards and management, and information can be presented in a way that is relevant, comparable, consistent and reliable. Cravath regularly advises companies in connection with ESG shareholder proposals and other year‑round shareholder engagement and communications around ESG issues. We also handle investigations and litigation arising from ESG‑related matters.
Our ESG capabilities include:
- Understanding and navigating the complex environment of ESG‑related framework providers, standard‑setting bodies and ratings providers, including international ESG‑related regulatory requirements;
- Responding to ESG‑related shareholder communications or shareholder proposals;
- Reviewing and assisting with the preparation of sustainability reports and other ESG‑related disclosure;
- Advising on the set‑up of ESG programs, including advice on appropriate disclosure controls and procedures for sustainability reporting;
- Establishment of ESG governance processes and procedures for the supervision of ESG risks and strategies; and
- Preparing for requirements for ESG disclosures in reporting, including recently adopted SEC climate reporting rules.
Cravath’s experienced ESG team includes previous leaders at the SEC, including the former Director of the Division of Corporation Finance who initiated the project that later became the 2010 Commission Guidance Regarding Disclosure Related to Climate Change. Having shaped the dialogue surrounding ESG disclosure for many years, our lawyers continue to influence the conversation, as well as the education around and development of this dynamic and ever‑changing area.
Publications
May 22, 2026
Cravath Publishes Quarterly Review on Q1 2026 Trends in M&A, Activism and Corporate Governance
On May 22, 2026, Cravath published the latest edition of its Quarterly Review, which provides insight into practical points, key takeaways and relevant developments across the M&A, activism, restructuring, regulatory and corporate governance landscape. This edition covers:
Activities
April 28, 2026
John White Co‑moderates the University of Delaware Weinberg Center for Corporate Governance’s 2026 Program on Shareholder Proposals and ESG at a Crossroads
On April 28, 2026, Cravath partner John W. White co‑moderated a program, hosted by the University of Delaware’s John L. Weinberg Center for Corporate Governance, entitled “Shareholder Proposals at the Crossroads: Boards, ESG, and the Future of SEC Rule 14(a)‑8.” John, who has guided this series of Weinberg Center programs since its inception, led the discussion surrounding how directors, companies and proponents have navigated the Rule 14a‑8 arena during the current proxy season under the SEC staff’s new paradigm, as well as how boards have been addressing ESG issues in today’s environment.
Activities
November 10, 2025
Alyssa Caples, Nick Dorsey and Dan Cerqueira Speak at IBA’s 2025 Annual Conference
Cravath partners Alyssa K. Caples, Nicholas A. Dorsey and Daniel J. Cerqueira spoke at the International Bar Association’s 2025 Annual Conference, which was held November 2-7 in Toronto and convened legal professionals from across the globe.
Publications
November 10, 2025
Cravath Publishes Quarterly Review on Q3 2025 Trends in M&A, Activism and Corporate Governance
On November 10, 2025, Cravath published the latest edition of its Quarterly Review, which provides insight into practical points, key takeaways and relevant developments across the M&A, activism, restructuring, regulatory and corporate governance landscape. This edition covers:
Activities
June 12, 2025
Michael Arnold Speaks at PLI’s ESG 2025: What It Means for Boards, Management, and Counsel Program
On June 10, 2025, Cravath partner Michael L. Arnold participated in “ESG 2025: What It Means for Boards, Management, and Counsel,” a program presented by the Practising Law Institute in New York. The program hosted a number of experts, including company management and in‑house and outside counsel, to review recent trends in the sustainability landscape and best practices for governance. Michael spoke on a panel entitled “Board Oversight of ESG,” which reviewed ESG developments and changes over the past year in board‑level oversight of ESG and gave advice to boards of directors in fulfilling their duties while navigating the ESG landscape.
Publications
May 22, 2026
Cravath Publishes Quarterly Review on Q1 2026 Trends in M&A, Activism and Corporate Governance
On May 22, 2026, Cravath published the latest edition of its Quarterly Review, which provides insight into practical points, key takeaways and relevant developments across the M&A, activism, restructuring, regulatory and corporate governance landscape. This edition covers:
Activities
April 28, 2026
John White Co‑moderates the University of Delaware Weinberg Center for Corporate Governance’s 2026 Program on Shareholder Proposals and ESG at a Crossroads
On April 28, 2026, Cravath partner John W. White co‑moderated a program, hosted by the University of Delaware’s John L. Weinberg Center for Corporate Governance, entitled “Shareholder Proposals at the Crossroads: Boards, ESG, and the Future of SEC Rule 14(a)‑8.” John, who has guided this series of Weinberg Center programs since its inception, led the discussion surrounding how directors, companies and proponents have navigated the Rule 14a‑8 arena during the current proxy season under the SEC staff’s new paradigm, as well as how boards have been addressing ESG issues in today’s environment.
Activities
November 10, 2025
Alyssa Caples, Nick Dorsey and Dan Cerqueira Speak at IBA’s 2025 Annual Conference
Cravath partners Alyssa K. Caples, Nicholas A. Dorsey and Daniel J. Cerqueira spoke at the International Bar Association’s 2025 Annual Conference, which was held November 2-7 in Toronto and convened legal professionals from across the globe.
Publications
November 10, 2025
Cravath Publishes Quarterly Review on Q3 2025 Trends in M&A, Activism and Corporate Governance
On November 10, 2025, Cravath published the latest edition of its Quarterly Review, which provides insight into practical points, key takeaways and relevant developments across the M&A, activism, restructuring, regulatory and corporate governance landscape. This edition covers:
Activities
June 12, 2025
Michael Arnold Speaks at PLI’s ESG 2025: What It Means for Boards, Management, and Counsel Program
On June 10, 2025, Cravath partner Michael L. Arnold participated in “ESG 2025: What It Means for Boards, Management, and Counsel,” a program presented by the Practising Law Institute in New York. The program hosted a number of experts, including company management and in‑house and outside counsel, to review recent trends in the sustainability landscape and best practices for governance. Michael spoke on a panel entitled “Board Oversight of ESG,” which reviewed ESG developments and changes over the past year in board‑level oversight of ESG and gave advice to boards of directors in fulfilling their duties while navigating the ESG landscape.
Cravath Bicentennial
Celebrating 200 years of partnership. In 2019, we celebrated our bicentennial. Our history mirrors that of our nation. Integral to our story is our culture.
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