24.9.2020

What Does Sustainability Mean to a Corporate Lawyer?

More and more companies are putting sustainability at the forefront of their strategies and are looking for ways to combat climate change. Customers and investors expect companies to act ethically and respect human rights.

In the midst of this, companies are turning to their legal advisors for knowledge about good, sustainable practices — not just about what the law or courts says is legal. Legal work is changing, and I think that it is changing for the better.

SUSTAINABILITY EXTENDS THROUGHOUT BUSINESS LAW

Lawyers seems to have discovered sustainability work a bit late, though we are in a position to have a significant impact. Sustainability issues extend far beyond environmental law. Nearly every contract brings with it the opportunity to make a difference.

It is difficult to think of a field of law that wouldn’t involve some aspect of sustainability. Green finance is becoming more common, and contract templates are evolving. In mergers and acquisitions, sustainability issues come up in due diligence reviews and can impact purchase prices, and there is much work that could be done in energy sector contractual structures.

Public procurement projects should be implemented sustainably. If competitors want to work together to reduce emissions, they need a competition law assessment. Business intelligence needs to be based on the responsible use of data, and merely knowing the GDPR by rote is not enough. Anti-corruption work needs functional compliance practices and whistleblowing channels.

IMPACT THROUGH NEW FINANCIAL INSTRUMENTS

The pursuit of impact is also creating entirely new kinds of work for lawyers. Impact investing and impact funds have already gained a foothold. In impact investing, private capital is not only used to pursue a profit, but also measurable benefits for society, and it is being promoted as one possible solution to the increasing challenges faced by the public sector.

NEW CAREER PATHS FOR LAWYERS

The changes that are going on in the world are a call to lifelong learning and are creating new, interesting career paths for future generations of lawyers. Who would have thought just a few years ago that the UN’s sustainable development goals could be a major part of business lawyer’s work?

DOING OUR PART

At the beginning of 2020, Castrén & Snellman became the first Finnish law firm to join the Global Compact. There are three pillars to sustainability at C&S: our own sustainability, sustainability advice for clients and impact on society.

We can have the biggest impact through helping our clients develop their own sustainability. In addition to the UN Global Compact, our sustainability work is anchored in the UN’s sustainable development goals. Our key goals are to promote equality, fight climate change and promote the rule of law.

This blog was first published in 18.8.2020.

Latest references

We advised Neste as it signed a EUR 250 million 10-year loan with NIB. The loan will finance Neste’s investments related to research and development (R&D) in processing lower-quality feedstocks into high-quality renewable products; as well as the liquefied waste plastics (LWP) investment at Neste’s refinery in Porvoo, Finland. The R&D activities supported by the loan focus on the development of renewable solutions. These include, for example, expanding feedstock capabilities and technologies that enable the processing of new and lower-quality waste and residues into high-quality renewable end products. Part of the financing supports Neste’s liquefied waste plastics investment in Porvoo, related to upgrading low-quality plastic waste into high-quality feedstock at an industrial scale. The investment contributes to advancing circular economy solutions by enabling the use of hard-to-recycle plastic waste as a replacement for virgin fossil raw materials. The unit has an annual capacity to process up to 150,000 tonnes of liquefied waste plastic. Production ramp-up commenced in 2026.
Case published 19.8.2026
We advised Aspo Plc, ESL Shipping Ltd and AtoBatC Shipping AB in relation to finance matters in connection with the demerger of Aspo, by which all the shares in ESL Shipping Ltd held by Aspo, together with the related assets and liabilities, will be transferred to a new independent company to be named ESL Shipping Group Plc. Aspo intends to apply for the shares of ESL Shipping Group to be admitted to trading on the regulated market of Nasdaq Helsinki. It is further intended that Aspo be renamed Telko Group Plc. 
Case published 19.8.2026
We acted as Finnish law legal adviser to the lenders and the export credit agencies in connection with the EUR 514.4 million green project financing for the development and construction of Easpring Finland New Materials Oy’s cathode active material (CAM) manufacturing plant in Kotka, Finland. The borrower, Easpring Finland New Materials Oy, is a joint venture owned by Beijing Easpring Material Technology, Finnish Minerals Group and LG Energy Solution. The financing was provided by six international commercial banks, with Société Générale acting as financial adviser and mandated lead arranger together with Natixis as co-mandated lead arranger, and DNB, ICBC, ING and Standard Chartered participating as lenders, with support from the export credit agencies Finnvera and Sinosure. The project represents a significant milestone for Finland and the European battery value chain by strengthening Europe’s domestic supply of cathode active materials, a key component in lithium-ion batteries for electric vehicles and energy storage applications. Once the first phase of the project is operational, the Kotka facility is expected to produce approximately 60,000 tonnes of cathode active material annually, making it one of the largest CAM production plants in Europe and supplying leading battery manufacturers across Europe. 
Case published 21.7.2026
We acted as Finnish legal advisor to Delta Capacity in connection with its acquisition of the ready-to-build Karppio battery energy storage system (BESS) project from Helios Nordic Energy. The acquisition was made and the project will be implemented together with Strioga Family Foundation. The Karppio BESS project is located in Teuva, Finland, and has a capacity of 125 MW / 300 MWh. Delta Capacity will lead the remaining development of the project through to commissioning, planned for 2027, and will serve as long-term asset manager. Delta Capacity is a Swiss-based developer of utility scale battery storage systems. The acquisition adds to Delta Capacity’s growing Nordic portfolio. 
Case published 20.7.2026