How we do business
Responsible business strategy
Transitioning from strategy to reality - Responsible business report 2023
Since we launched our inaugural report last year, we’ve been delighted to see how positively our decision to set out our ambitious strategy has been received by colleagues and clients.
In this year's report, we outline the steps we’re taking to make a reality of our strategy, building on the natural strengths of our culture whilst always pushing ourselves to go further in key areas of the Environmental, Social and Governance (ESG) agenda.
This work has been carried out in a testing environment. We’ve had to make tough choices to contend with a prolonged period of high inflation and interest rates and a cost-of-living crisis. Despite these pressures, we’ve kept our eyes on the future and making progress towards our goals.
Embedding our values and responsible business principles
Last year, we ran a consultation exercise to articulate our values. Now, we are working to make sure that our policies and frameworks fully reflect them, as well as the wider principles that underpin our responsible business agenda.
A strategic approach
Last year, we launched our new Equity, Diversity and Inclusion (ED&I) strategy, supported by clear targets.
Since then, our focus has been on embedding and pushing forward the strategy to meet the challenges which we face. It has put us in a strong place to make progress and has really helped provide a focus. But, we recognise that we won’t hit these objectives overnight. We’re still at the start of a long journey.
There is so much to do and deliver on all this, we need to prioritise. Our strategy is supported by our networks who play a critical role in developing and pushing forward our strategy. They are a great – “from the ground up” – source of fresh thinking and new ideas.
Finding new ways to create social value
Our refreshed social impact strategy is helping us harness the skills and experience of our people to deliver even greater social impact.
An ambition to create real social value has always been a defining feature of our culture at Trowers and is integral to how we think about ourselves in relation to the wider world. We recognise that we don’t operate in isolation and that the work we do and how we do it has an impact on society at large.
With that in mind, in the last 12 months, we have been refining our approach in this area and have launched a refreshed social impact strategy focused on three priority areas for action. As such, we are committed to doing our bit to: Ensure fairness and access to justice, in the UK and internationally. Advance social mobility and diversity and inclusion in our profession and more widely in society. Help build a world that is environmentally and socially sustainable.
Plotting the path to net zero
One year ago, we announced our net zero target – to achieve a 50% reduction on our baseline emissions by 2030 and a 90% reduction by 2050.
In the last 12 months, we’ve taken steps to drive our progress by:
- Building up a more detailed and accurate picture of our greenhouse gas (GHG) emissions by improving the quality of our data capture and calculation methodologies.
- Right-sizing our office space and investing in more efficient technology and operational measures to drive energy efficiencies.
- Engaging with and facilitating partnerships to play our part in tackling the enormous climate and sustainability challenges that we collectively face.
Achill Management, the organisation behind the Legal Sustainability Alliance, also continue to advise us on our sustainability journey, as we continue the process of developing and shaping our key priorities.