01 Oct 2021 | 12:02 pm | 2 min. read
Multinational law firm Pinsent Masons has been named Law Firm of the Year at the prestigious Legal Business awards in London for the third time in five years.
Acknowledged for its commitment to its purpose-led strategy, the judges credited Pinsent Masons for ‘the firm’s desire to match strong financial performance with its commitment to ESG principles, client handling and innovation.’
In 2020 the firm transformed how it measures success, moving beyond financial growth as a sole indicator. Pinsent Masons now reports to its Board and the market on metrics which track levels of trust among colleagues and clients, how it works better within the communities in which it operates, its environmental commitments and the firm’s purpose-led business growth.
Since beginning its transition to becoming a purpose-led business in 2018, the firm has revised its strategy to align with its commitment to ‘making business work better for people’. Standout progress includes working alongside its established charitable partners to support over 13,000 young people globally during the last financial year as part of its commitment to inspire young lives.
In line with its strategy Pinsent Masons set Science Based Targets earlier this year, which commit the firm to cutting absolute carbon emissions by a minimum of 50% and sourcing 100% renewable electricity across its global estate by 2030. Furthermore, the firm is calling on the legal industry to join together to pledge a million hours to support projects that strive to prevent climate change and reduce biodiversity loss.
Richard Foley, Senior Partner at Pinsent Masons says:
“It’s great that Pinsent Masons has been recognised by a prestigious panel of General Counsel for the change it is trying to bring about - both within our business and the profession more widely. We’ve made some bold changes to the way we operate and the encouragement we’ve received from our colleagues, clients and industry peers has inspired us to do so with confidence.
“Our clients share our belief that business can and should work better for people. That stimulates openness, encourages people to challenge convention, innovate and deploy the right mix of professionals to achieve best outcomes. It’s collaboration of that sort that enables us to do business in the right way and for the right reasons and to measure and report against the things that really matter.”
Pinsent Masons has advised on a series of standout matters recently which align with its purpose and values. These include advising Tesla on Australia’s first virtual power plant to provide cheaper, cleaner power to South Australia, Resonance on the launch of a series of impact investment funds and the UK Government on its purchase of an additional 60 million doses of the Pfizer BioNTech Coivd-19 vaccine.
The firm has secured a number of high-profile accolades in recent years including being named the Most Innovative Law Firm in Europe in 2020 at the FT Innovative Lawyer Awards Europe 2020, winning the Sustainability category at the FT Innovative Lawyer Awards Asia Pacific 2021 and Insurance Team of the Year at the Legal Business Awards 2020.
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