ESG

Environmental, Social and Governance (ESG) principles have become an integral part of corporate governance, risk management and regulatory compliance. European Union sustainability regulation, including reporting and due diligence obligations, affects an ever-wider range of companies and requires a systematic and well-considered approach.

RASK Attorneys-at-Law is recognised as one of the leading ESG advisers in the Estonian legal market. We are one of only a few Estonian law firms to hold the Responsible Business Index label at the highly regarded Silver level. This label is an official acknowledgement that we have consciously embedded responsible business principles into our core legal practice and operate in a systematic and consistent manner. It confirms that we understand ESG not only from a legal perspective, but also as entrepreneurs ourselves.

This practical understanding is one of the reasons why our ESG track record includes, among other matters, advising on the largest ESG-related merger transaction in Estonia to date. As a result of this transaction, one of the largest sustainability business alliances in Estonia, the Estonian Sustainable Business Association (KELL), continues its operations.

ESG is not merely a reporting obligation, but an integral part of a company’s governance framework. It affects day-to-day management as well as key strategic decisions, including investment decisions, contractual relationships, supply chains and the responsibilities of management bodies.

Legally sound ESG implementation helps mitigate legal, financial and reputational risks and creates transparency for investors, business partners and supervisory authorities.

We also advise clients on the following:

• Analysis of ESG-related regulatory requirements and their applicability
• Legal assessment of sustainability reporting and disclosure obligations
• Drafting and updating ESG policies, codes of ethics and internal rules and guidelines
• Whistleblowing regulation, including drafting internal procedures and documentation for handling whistleblowing reports
• Advice on the implementation of the Pay Transparency Directive, including preparation of remuneration policies and related internal documentation
• Due diligence obligations in supply chains and in relation to business partners
• Risk mapping and mitigation in transactions and day-to-day business operations
• Conducting legal audits and internal investigations, both company-wide and within specific legal areas or departments

RASK supports clients in designing and implementing ESG frameworks, considering the company’s size, sector and risk profile.

Head of Practice – Annika Vait

Annika Vait is an attorney-at-law, partner and Head of the ESG practice at RASK Attorneys-at-Law, as well as Co-Head of the Corporate and Employment law practice. She is one of Estonia’s most highly regarded business advisers, with nearly twenty years of experience in corporate advisory work, M&A and employment law. She has received repeated recognition in leading international legal directories, The Legal 500, as a “Leading Individual” in Corporate and M&A.

Annika advises clients on the preparation and negotiation of corporate documentation and contracts and represents clients in dispute resolution when necessary.

As Head of ESG, Annika combines strong legal expertise with hands-on entrepreneurial experience. Prior to joining RASK, she spent more than ten years as an entrepreneur, a founding partner and managing partner of law firm ALTERNA, giving her a deep understanding of the practical needs of business leaders and the impact of management decisions.

She has been a member of the Estonian Bar Association’s Corporate Law Committee for over ten years and has actively contributed to the development of legislation. She is a member of the Estonian Sustainable Business Association’s working group on equal treatment and employee wellbeing, has co-authored the Äripäev Entrepreneurs’ Handbook and has contributed to the annual reports of the Estonian Human Rights Centre.