Governance
The G in ESG
Freeths provides high-quality legal services to clients across various sectors throughout the UK. We are committed to conducting our business with integrity, professionalism and respect for all our stakeholders.
Our purpose is to create exceptional outcomes that meet the needs and expectations of our clients, while upholding the highest standards of ethics and professionalism. Our core values of being “Bold”, “Smart” and acting “Together” to “do the right thing” support our long-term success and sustainability.
The Management Board
The Firm’s Management Board (“Main Board”) is responsible for developing and implementing the Firm’s purpose, mission, strategy and values. The Management Board ensures that we have a clear governance structure and policies that support our purpose and promote a culture of trust, accountability and innovation.
In line with its obligations as a member of B Corp, Freeths amended its Members’ Agreement in 2023 to require the Board to consider the long-term consequences of decisions on the interests of all its stakeholders and the environment; and to maintain high standards of business conduct and fairness among members of the LLP. In promoting the success of the Firm, no particular stakeholder interest is regarded as more important than others.
The Management Board regularly reviews the Firm’s performance against its strategic objectives and monitors our compliance with applicable laws, regulations and professional standards. The Management Board is ultimately responsible to the Members (Equity Partners) of the LLP for its performance.
Our Management Board Committees
The Management Board comprises of Partners and Senior Employees that represent an appropriate balance of skills, experience, diversity and independence to enable it to discharge its duties effectively. It ensures that it has access to relevant external advice and training as required.
The Management Board has six committees:
- Executive Committee
- Audit Committee
- ESG Committee
- Members Remuneration Committee
- Appointments and Promotions Committee
- Premises Committee.
A number of matters, are reserved for the Management Board, including:
- development and implementation of the firm’s purpose, mission, strategy, values and policies
- overseeing the firm’s financial performance, risk management, internal controls and compliance
- approving major investments, acquisitions, disposals and contracts
- ensuring effective communication with stakeholders.
Risk
The Firm operates a "Three Lines of Defence Model" of risk management, namely Ownership (1st line), Oversight (2nd line) and Assurance (3rd line).
Risk appetite is determined by the Management Board and is actively managed via a matrix that includes: Operations Board Members (Heads of Business Support Teams), Department (Legal Service Line) Heads, and Office Managing Partners.
The Firm’s COLP, COFA and Risk and Compliance teams provide independent oversight. Assurance is provided by independent audit of the Firm’s Financial Statements, Solicitors Accounts Rules Compliance, Anti-Money Laundering Compliance; and third-party accreditations including Lexcel, Conveyancing Quality Standard, ISO22301 Business Continuity Management, ISO 27001 Information Security Management, ISO 9001 Quality Management, ISO 14001 Environmental Management, Cyber Essentials and Investors in People.
The Management Board meets at least six times per year and receives regular reports from the Senior Management Team and its committees on key aspects of the firm’s operations.
The Management Board recognises that building strong relationships with its stakeholders is essential for the Firm’s long-term success. Our stakeholders include Members of the LLP, staff, clients, suppliers, regulators, professional bodies, communities, and society at large. The Management Board ensures that the Firm has effective mechanisms for engaging with stakeholders on a regular basis.
More about ESG at Freeths
ESG
ESGAt Freeths, doing the right thing runs through everything we do, from fighting for environmental rights in court, to sourcing reusable coffee cups.
Environment
EnvironmentFind out more about Green Group initivates that help us to be as sustainable as possible.
Social
SocialFind out what we do for our employees, Diversity & Inclusion and also the wider community.
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