Law firms: ethics v profit

Profits per equity partner has for a long time been the definitive measure of law firm success, but that is changing, with a growing realisation that there are other ways to measure success. Law firms and their clients are increasingly focused on ESG (environmental, social and governance) issues, and junior lawyers in particular are putting pressure on the profession to shift to a business model that prioritises sustainability over profitability.

My organisation Obelisk Support’s latest report, ‘World in motion: why the legal profession cannot stand still’, found that nearly three-quarters of junior lawyers agreed that they would not join an organisation whose values did not match with their own, even if they were offering more money. An even higher proportion said they were looking to effect positive change in society through their work as lawyers.

Nearly two-thirds of junior lawyers wanted the right to refuse to work on certain matters