2017 Hot List Recipient

2020 Hot List Recipient

2021 CEO of the Year

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Admitted to the bar and joins Russell McVeagh

2012

Going green with Te Whakahaere

Hannah Bain: Like many people working in this area, my interest in climate change started as a personal one. While the science is not new, I started thinking really seriously about the significance of the threat around the time I moved to London in early 2016. For me, travelling and meeting different people, together with increasingly alarming warnings from the Intergovernmental Panel on Climate Change, focused my mind on the issues in a new way, and my passion for the topic has developed from there.

HB: There has been a real momentum shift over the past few years in relation to the way that organisations are responding to climate change. From a legal perspective, a significant change has been the introduction of New Zealand’s mandatory climate-related disclosures regime, which will require many New Zealand businesses to report on their climate-related risks and opportunities for financial periods starting on 1 January 2023 – with much of the relevant work already underway.

HB: There are too many to list; however, there a few that are top of mind for me. In Aotearoa, we obviously have some thorny mitigation issues that we need to grapple with, but a potentially even greater challenge is how we adapt to the impacts of climate change in a way that is effective, equitable – especially for our indigenous Māori population – and affordable. Meeting that challenge is going to require vast amounts of public and private sector resources over the coming years, and there will need to be high-quality engagement between government and relevant stakeholders. From a legal perspective, the reform of the resource management system has a critical role to play, and I'm lucky to be working at Russell McVeagh with a best-in-class group of resource management lawyers who are helping our clients navigate the many complexities arising out of the reform. Globally, a key challenge is how to ensure that our response to climate change is implemented in a way that is equitable for developing countries. Significant matters that remain to be ironed out include the provision of adequate finance to assist developing countries to transition, and compensation for loss and damage caused by climate change.

Many companies and firms in New Zealand have been announcing their commitment to net zero of late. What do you think of the strides the country is making with regard to dealing with climate change? What areas need more focus, in your opinion?

HB: While New Zealand has the advantage of having a settled framework in place for climate change mitigation and adaptation following the passage of the Zero Carbon Act in 2019, the real challenge now for both the government and the business community is turning those frameworks into measurable action. The focus for the remainder of the decade will need to be on converting the plans set out in the emissions reduction plan and the national adaptation plan into real-world action that actually reduces emissions and improves our resilience to climate impacts. In relation to businesses, it’s positive to see the level of focus on transition planning, which in many cases includes making some sort of public commitment to reducing emissions. It is important, though, that before putting in place net-zero or similar targets, businesses carefully consider their ability to meet those targets and put in place credible plans to get there. Net-zero commitments that are not supported by appropriate plans could be subject to allegations of greenwashing, and we’re starting to see both increased regulatory scrutiny and private litigation internationally in relation to such claims.

HB: The traditional role of law firms has been changing for a while. Clients now see the services that law firms can provide as extending beyond advice on the application of the law to include a wider suite of strategic services. In the climate space, the importance of the topic to businesses, combined with the specialist nature of the subject and its interaction with numerous other disciplines, meant that we saw an opportunity to broaden our offering by partnering with an experienced non-legal climate consultancy. The team at Te Whakahaere have deep experience in climate consultancy, with principal Mark Baker-Jones previously having been political adviser to the Minister for Climate Change in Aotearoa during the development of the Zero Carbon Act, and previously an adviser to governments in Australia on climate policy. We’re really excited to be working with Te Whakahaere to deliver a wider range of services to our clients.

HB: Following our entry into the alliance, Russell McVeagh remains committed to providing high-quality advice to our clients that takes into account their individual needs and operating environments. In that regard, nothing has changed! The difference with the alliance is that now, when we’re talking with clients about matters related to climate change, we will be able to offer the option of additional services from our experienced alliance partner in the consultancy space. If a client wishes to proceed with a joint instruction, they will have the benefit of combined legal and consultancy expertise in this fast-moving and complex area.

Spotlight

While the regime is focused on disclosure, we’re seeing that the process of preparing for disclosure is causing companies to carefully consider their resilience to the risks caused by climate change, and to adjust their strategies in response. Further, the influence of the new regime is not limited to organisations that are required to report, with many organisations making some form of climate-related disclosures on a voluntary basis. We’re also seeing the regime influencing the way that businesses interact with each other as companies start to work on managing their ‘Scope 3’ (value chain) emissions. I’m excited about the role that businesses can play in Aotearoa’s low-emissions future. We’re a country of innovators, and we're already starting to see the results of that can-do attitude in industries like green tech, where companies are seeing the opportunity presented by the transition. I’m hopeful we’ll see more and more of that innovation in the remainder of this critical decade.

Russell McVeagh offers its clients a collaborative, one-firm approach. Its practice groups work seamlessly to support a wide range of clients, drawing on expertise across the full spectrum of banking and finance, competition, corporate advisory, litigation, public law, real estate and construction, tax, and environmental and planning law matters. The firm provides exceptional service through its comprehensive range of practice areas and clear, innovative advice. Handling some of Aotearoa New Zealand's most significant and complex transactions and matters, many with cross-border considerations, Russell McVeagh's lawyers work with major corporates, on government projects of national significance, and on key infrastructure projects to help shape our country and the legal landscape.

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>$1m

Value of pro bono legal support

>320

Number of lawyers employed

Number of core firm values

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2012

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favourite quote

“Don’t sweat the small stuff, and everything is small stuff. Of course, climate change is not ‘small stuff’, but this helps me get from one day to the next!”

Hannah Bain

Special counsel at Russell McVeagh

Hannah Bain talks to NZ Lawyer about Russell McVeagh’s new alliance with climate consultancy Te Whakahaere and her personal passion for climate change issues

Read on

“We’re a country of innovators, and we’re already starting to see the results of that can-do attitude in industries like green tech, where companies are seeing the opportunity presented by the transition”

Hannah Bain, Russell McVeagh

“The traditional role of law firms has been changing for a while. Clients now see the services that law firms can provide as extending beyond advice on the application of the law”

Hannah Bain, Russell McVeagh

Milestones

2011

2012

2015

2016

2019

2021

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2012

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2015

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2016

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2019

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2021

Going green with Te Whakahaere

Spotlight

Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products. Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members. We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards. By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.

Company Profile

YEAR ADMITTED TO BAR

2012

Tenure at FIRM

Started at Russell McVeagh in 2012; left in 2016 and returned in 2020

FAVOURITE QUOTE

“Don’t sweat the small stuff, and everything is small stuff. Of course, climate change is not ‘small stuff’, but this helps me get from one day to the next!”

Karen Adams

President and CEO at Fundserv

Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent

Read on

Milestones

2011

2012

2015

2016

2019

2021

Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.

2012

Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.

2015

Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.

2016

Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.

2019

Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.

2021

Going green with Te Whakahaere

Spotlight

Company Profile

YEAR ADMITTED TO BAR

2012

Tenure at FIRM

Started at Russell McVeagh in 2012; left in 2016 and returned in 2020

Karen Adams

President and CEO at Fundserv

Career highlight

Read on

IN Partnership with

In Partnership with

What are the most pressing climate change issues New Zealand faces today, and the most pressing ones faced by the planet as a whole?

What moved Russell McVeagh to work with Te Whakahaere, and why now?

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Started at Russell McVeagh in 2012; left in 2016 and returned in 2020

What birthed your passion for climate change?

As the lawyer spearheading Russell McVeagh’s climate change offering, what have you observed about the approaches to dealing with climate change – both legal and non-legal – being taken by businesses in recent years?

Can you tell us more about what Russell McVeagh’s part in this alliance will entail?

What plans are in the pipeline for the alliance in 2023 and beyond?

HB: The alliance's top priority is to continue to talk with existing and potential clients about the climate change issues they’re facing, and to provide tailored advice. In addition, we’re kicking off 2023 with climate change events in both our Auckland and Wellington offices. We’ll be joined at those events by a panel of esteemed guests, and we’re looking forward to picking their brains about recent and future developments in climate law, policy and business strategy. We’ll also be continuing to publish our thought leadership on key developments over 2023 and beyond, and working with clients to deliver seminars on important climate change topics.

HB: My role in the alliance is to be the key point person between Te Whakahaere and Russell McVeagh on matters relating to our joint offering. As the lawyer leading Russell McVeagh’s climate change practice, I’ll also be continuing to work with our experts across all areas of the firm to deliver advice in this important space to our clients.

What is your specific role in the alliance?

HB: I’m absolutely thrilled to be a leader within Russell McVeagh as it embarks on this strategic alliance with Te Whakahaere. The opportunity to work with a team of the calibre of Te Whakahaere is a true career highlight. Climate change is an important topic not just for our clients but also for our team, and one of the parts of my job that I enjoy the most is working with our exceptionally talented lawyers across all levels of the firm on matters they're interested in. I’m delighted that, through the alliance, our more junior team members will be able to be part of a broader climate offering, and learn from both Russell McVeagh’s experts and the formidable Te Whakahaere team.

What does it mean to you to be a leader at Russell McVeagh as it embarks on this alliance with Te Whakahaere?

2012

2015

2016

2018

2020

2022

Admitted to the bar and joins Russell McVeagh

2012

Promoted to senior solicitor at Russell McVeagh

2015

Moves to Herbert Smith Freehills LLP in London

2016

Promoted to senior associate at Herbert Smith Freehills

2018

Returns to Russell McVeagh; promoted to senior associate

2020

Promoted to special counsel and appointed as the key lawyer responsible for spearheading the Te Whakahaere alliance

2022

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