Annual report 2022 - Report - Page 18
Legal training in an
uncharted field
18 Annual Report 2022
Horten has assembled a task
force of attorneys and partners
specialising in several
established business areas to
develop ESG as a new special
field. Two young attorneys are
also on board, who have had the
opportunity to learn from some
of the most experienced people
in the company, and also help
explore and develop a legal field
that is currently undergoing
rapid change.
“My interest in the complex new ESG area
was aroused during my studies. I
therefore chose to write my thesis on the
subject. It’s highly motivating that I can
use my knowledge from my studies in a
practical context, and help establish ESG
as a new business area at Horten. I also
feel privileged and inspired about
working closely with talented attorneys
and partners, with extensive knowledge
and many years of experience from their
respective fields. I’m also very pleased to
have the opportunity to further specialise
in ESG regulation. This field will not only
be of great importance to many
companies, but also to the goal of
creating a sustainable future,” says
Stephanie Pitzner, one of the two young
attorneys on the ESG team, who is also
attached to Horten’s M&A department as
a attorneyassistant attorney.
Mads Herdichek Langfeldt is the other
young attorney on the ESG team. He is a
newly appointed attorney who, in
addition to ESG, works on regulatory
issues and commercial contracts in the
energy sector. His legal specialisation
already has a clear focus on companies’
green transition and sustainability. The
work with ESG is therefore meaningful on
several levels.
“As a legal area, ESG is about identifying
how companies can meet the many new
demands, and find paths to good
solutions – often completely new paths. I
will always find it very motivating to work
in this manner. It may sound lofty, but for
me, having the opportunity to help
develop ESG as a business area in a
company like Horten also means
becoming a small part of a much larger
agenda that can help make the world a
better place. So it’s more than just a
professional privilege to be on the ESG
team.”
Rapid changes
ESG stands for Environmental, Social and
Governance. It focuses on how
companies’ products and services
contribute to sustainable development in
environmental, social and governance
terms. It also looks at how companies
manage their activities to minimise the
negative impacts on our planet.
The European Parliament adopted a
CSRD Directive in 2022. This obligates
listed companies with over 500
employees to report on their
sustainability efforts and performance
from 1 January 2024. In 2025, this
requirement will be extended to other
large companies with more than 250
employees and, from 2026, to listed
SMEs.
“The legal aspects concerning much of
sustainable development have been quite
loosely based for many years, with very
little concrete foundation. But things are
really changing now, and the CSRD
Directive is a good example of that. This
doesn’t mean that we have a final
European ESG regulatory framework yet,
but we are starting to get a clearer
picture of the future regulation and what
will be required of companies. Companies
are currently facing a decision on how
they will handle the ESG task and their
position in the future market. It forces us
to be forward-looking. That makes the
work very complex, but also very exciting
to be a part of,” says Mads Herdichek
Langfeldt.
First-hand experience with dynamic
consultancy
When a field develops as rapidly as ESG
is doing, it not only places new demands
on companies that they have to adapt to.
It also places demands on legal
consultants, who have to stay abreast of
developments and be constantly ready to
explore various legal options.
“I have always found Horten to be a
company that emphasises finding
solutions, even if the law does not
provide clear answers. You can
particularly see this in the ESG area. We
may well be beginning to see the
contours of the legal framework that
companies will have to navigate, but
there is a lack of legal practice on how to
interpret and implement the rules. The
result is a more open playing field, where
the consultancy also needs to draw on
new perspectives from younger players
like myself, to supplement the partners’
solid experience from other legal areas.
This also makes it very dynamic work,”
says Mads Herdichek Langfeldt.
A career opportunity
The dynamic and exploratory element in
helping to develop a new business area
for Horten also means that both Mads
Herdichek Langfeldt and Stephanie
Pitzner are being assigned interesting
and challenging tasks which would
normally be reserved for more
experienced colleagues. This is because
nobody has definitive answers yet.