Herbert Smith Freehills Launches AI-Powered ESG Monitoring Tool

Herbert Smith Freehills Launches AI-Powered ESG Monitoring Tool

Herbert Smith Freehills has launched a new tool aimed at assisting businesses in keeping pace with the rapidly evolving landscape of ESG regulations and reporting requirements. Known as the 'Global ESG Tracker,' this tool integrates human and artificial intelligence to monitor ESG-related legal developments worldwide.

Over the past 18 months, Herbert Smith Freehills developed the Global ESG Tracker through collaboration between their Digital Legal Delivery and ESG practices. Led by ESG Director Ernst Muller, the tool comprehensively tracks a broad spectrum of ESG issues, including climate change policies, biodiversity, energy transition, water management, waste, employment practices, human rights, and directors' responsibilities.

As changes in policy, regulations, or legislation arise globally, the Global ESG Tracker aggregates this information into a centralised platform. It then generates tailored reports for clients, enabling them to prepare for forthcoming legal, sustainability, and financial reporting obligations.

Silke Goldberg, Partner and global head of ESG at Herbert Smith Freehills, commented on the tool's significance: "The principles on which ESG reporting is based are, by now, increasingly well understood, yet the increased demand on businesses to account for their impact on people and planet is a more recent development. For many organisations, the ability to keep up to date with changes across multiple jurisdictions is a daunting task, particularly in an environment dominated by fast-paced change."