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Using Anti-Bribery and Corruption Regimes for ESG Concerns

By Stephanie Yonekura, Ann Kim and Derek Centola
December 01, 2022

Compliance leaders recognize that Environmental, Social and Governance (ESG) is a growing concern for U.S. companies, but face challenges in determining how to embed compliance structures into their programs. One solution is to look to already existing anti-bribery and corruption (AB&C) compliance measures. Despite perceptions that these regimes may compete for compliance resources, they can in fact work in tandem to leverage existing resources to establish a more comprehensive compliance program.

The Importance of ESG

It is clear — ESG concerns are top of mind for compliance professionals. In Steering the Course III: Navigating Deep Waters, a recent study conducted by Hogan Lovells of 600 chief compliance officers (CCOs), heads of legal, or equivalent executive roles (referred to collectively as "compliance leaders") from around the world, over 80% of compliance leaders identified ESG risk as a current and future priority in their business strategies. These compliance leaders noted that integration of ESG programs would positively impact their organization's reputation.

The reputational value of imposing ESG compliance is important. Risks of reputational fall out can attract unwelcome headlines that, in the ever-changing media landscape, put businesses in the crosshairs of the next great "cancel" movement. In addition to reputational concerns, proposed legislation and regulatory measures will create new legal requirements that will necessitate companies to implement ESG controls.

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