2023

Environmental
Sustainability
ReportIntroduction

Contents

Sustainability at Sidley

Tracking Our Progress

Global Business Operations

Stakeholder Engagement

Introduction

Stakeholder Engagement

01 Letter From the Management Committee

09 Climate Risk Assessment

02 Recent Sustainability Highlights

09 Client Relations

Legal Services

About This Report

09 Legal Profession

Sustainability at Sidley

10 Supply Chain Management

03 Approach to Sustainability
03 Sustainability Framework

Legal Services

04 Our Climate Targets

11 Aviation and Airlines

04 Responsible Citizenship

11 Environmental, Social, and Governance
11 Renewable Energy

Tracking Our Progress

12 Transportation

05 A Measurable Difference

12 Pro Bono

Global Business Operations

About This Report

06 Energy

13 Boundary, Scope, and Methodology

06 Carbon Neutrality
07 Green Buildings
08 Business Travelers
08 Paper Reduction
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Introduction

Letter From theManagement
Committee

SIDLE Y AUS TIN LLP | SUS TAINABILIT Y REPORT 2023

Sustainability at Sidley

Tracking Our Progress

Global Business Operations

Stakeholder Engagement

At Sidley, we are committed to minimizing our
ecological impact in all areas of our operations,
supporting our clients in their business andsustainability activities, and enhancing the qualityof life for people in the communities where we live
and work.

Extending beyond our emissions data, thisreport includes descriptions of our client advisory
services and sustainability-driven legal disciplines
worldwide. Our experience covers environmental,social, and governance (ESG) matters, renewableenergy projects, and pro bono work.

Sidley’s 2023 Environmental Sustainability reportcovers key activities and achievements from theprevious year, as well as how we continue toaddress climate change through our sustainability
program and firmwide initiatives. We areparticularly proud of the progress we have madeto date against our long-term climate targets. Last
year, we successfully achieved carbon neutrality
in our direct operations — meeting the first of
our climate commitments — and made positive
strides toward our 2030 reduction and 2050
net-zero goals. We also completed our mostcomprehensive Scope 3 data collection to date,
improving our ability to identify areas of impact
and opportunities for emissions reductions.

Our firm recognizes that the environmental
challenges we face are complex and multifaceted.
We believe that through innovation and continuous
improvement, we can make a meaningful
difference. We encourage you to delve into thereport and discover the progress we have madetoward sustainable growth.

Legal Services

About This Report01

Introduction

Sustainability at Sidley

Tracking Our Progress

Global Business Operations

Stakeholder Engagement

Legal Services

About This Report

RecentSustainability
Highlights

SIDLE Y AUS TIN LLP | SUS TAINABILIT Y REPORT 2023

Carbon Footprint Reduced

Renewable Energy Expansion

Scope 3 Reporting

25% total reduction (12,747 tCO2e)
compared to 2019

Sidley’s global data center and London officeare 100% powered by renewable energy

Expanded the scope of our data collection
on Scope 3 emissions from purchased goods
and services

Carbon Neutrality Achievement

Business Travel

We fulfilled our near-term emissions reduction
target by achieving carbon neutrality in our
direct operations, leveraging Renewable
Energy Credits (RECs) and offsets to
supplement office-based efforts

Reduced air travel as a result of greater virtual
collaboration compared to baseline year

Paper Usage
50% paper reduction
compared to baseline year

Climate Risk ModelingFirm leaders conducted a climate risk scenario
analysis aligned with guidelines provided by
the Financial Stability Board’s Task Force on
Climate-related Financial Disclosures

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Introduction

Sustainability
at Sidley

Sustainability at Sidley

Tracking Our Progress

We are committed to doing our part to ensurea sustainable future by conducting business in a
responsible and mindful way that creates longterm value for our various internal and external
stakeholders. We aim to minimize our impact on
the environment by setting ambitious climate
commitments to reduce our carbon emissions, aswell as by creating a more sustainable workplaceand culture across our global firm.

Approach to Sustainability
We apply a sustainability lens to both ourinternal operations and the legal work we do forclients. Where possible, we engage with selectsuppliers and other service partners in supportof our sustainability objectives and supply
chain management efforts. Across each of ouroffice locations, we engage with landlords andproperty managers to implement sustainability
improvements, ensuring that the best carbon
reduction technologies and operating procedures
are in place.
Our sustainability activities incorporate all levels
and all areas of our firm, with ultimate oversightand involvement of the firm’s leadership. From theoperations team, to our leadership committees,to the actions of each employee, we encourage
our professionals to consider how to integratesustainability within their area of responsibility.

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Global Business Operations

Stakeholder Engagement

We partner with clients to help them achieve theirsustainability goals and contribute to a net-zero
economy. Our work for clients includes navigatingcomplex ESG and sustainability issues andproviding comprehensive advice on many of themost significant renewable energy projects aroundthe globe. We also have a robust pro bono practice,with a dedicated program that provides legal
services to socially and environmentally focusedbusinesses across the developing world.

Sustainability Framework
To help facilitate our sustainability efforts, weorganized the most salient environmental issues
impacting our firm under a three-pillar framework:
Legal Services, Global Business Operations, andStakeholder Engagement. This framework allows
us to focus on where we have the opportunity tomake the greatest impact and communicate ourprogress in a structured and transparent way.

Legal Services

About This ReportOUR FR AMEWORKLEGAL SERVICES
ESG

Pro Bono

GLOBAL BUSINESSOPER ATIONSEnergyPurchased
Goods& Services

Travel &Commuting

S TAKEHOLDERENGAGEMENT
Personnel

Clients

Community
Partners

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Introduction

Sustainability
at Sidley

Sustainability at Sidley

Tracking Our Progress

Our Climate Targets
To reduce our carbon footprint, we have set short-,
medium-, and long-term climate goals for our
Scope 1, 2, and 3 greenhouse gas (GHG) emissions,in alignment with science-based targets. (For more
information on types of emissions, see here.)
2022: Achieved carbon neutrality in our direct
operations through a combination of renewableenergy initiatives and carbon credits
2030: Reduce Scope 1, 2, and 3 GHG
emissions 55%, against a 2019 baseline year
2050: Reach net-zero GHG emissions

Responsible Citizenship
Preserving the environment is one of the many ways
we demonstrate that we are responsible stewardsof our people, our clients, and our communities.
Maintaining our longstanding recognition as aleader in the legal profession, Sidley strives toreflect the world in which we live, while seeking
to protect the fundamental principles of equality,
inclusion, and justice. We are committed to action
in support of these principles, in the work that we
pursue, the causes we support, and in the time ourpeople dedicate to pro bono representation andsocial projects.

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Global Business Operations

Stakeholder Engagement

Legal Services

About This Report

Diversity, Equity, and Inclusion
We strongly support a workplace culture where
every person is given the opportunity to thrive andbe the most authentic version of themselves. We
continually seek out ways to diversify our ranks,build an inclusive and welcoming culture, and foster
inclusion and collegiality within the profession.
Pro Bono and Social Responsibility
Our lawyers offer pro bono support to those who
are unable to afford legal representation, working
on impact immigration litigation, political asylum
matters, and cases involving political unrest andracial inequality issues. We also seek to build
stronger communities through local partnershipsthat make a difference in the lives of people
around the world.
Well-Being
We provide a workplace conducive to goodmental health, encouraging a more widespread
understanding of mental health issues and how
to respond to them and providing substantial
resources to address those issues when they arise.

04

A Measurable Difference
We are proud of the progress we have madetoward our goal of reducing our carbon footprintby 55% by 2030 (against our 2019 baseline). At theend of 2022, we were almost halfway there, with a
total reduction of 12,747 tCO2e compared to ourbaseline year. The most impactful changes were:– Transitioning to 100% renewable electricity forour buildings, leveraging RECs to supplement
office-based efforts– Improvements in energy efficiency
across our office sites– Reducing air travel through greater
virtual collaboration– Reducing commuting emissions due
to hybrid work arrangements
Accurate and complete data are essential tounderstanding and learning from our environmental
impact and supporting our clients in their own
sustainability reporting. We have calculated ourcarbon footprint annually beginning with our 2019
data and report the results to CDP, one of themost commonly used platforms for measuring andunderstanding corporate environmental impacts.
In 2022, we undertook our most comprehensive
data collection effort to date, significantly widening
the scope of our data collection on Scope 3
emissions, which make up the vast majority of

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Global Business Operations

Stakeholder Engagement

our carbon footprint. For Category 1 (Purchased
Goods and Services), we moved from measuring
only paper products, toner, and food to all relevantpurchases. We also recalculated our 2019 baseline
to provide a more accurate comparison of progressover the last four years.
The resulting analysis shows that Sidley reduced its
carbon footprint by 25% since 2019, representing
steady progress toward our goal of 55% reduction
by 2030.
While the firm purchased high-quality, REDD+
carbon offsets equivalent to our Scope 1 emissions
for the 2022 reporting cycle, we recognize thatcarbon offsets are a tool to be used “above andbeyond” changes to business practices. As a result,
we have reported our total Scope 1 emissions
without including the carbon offsets.

Total Emissions Over Time (tCO2e)277.39525.46SCOPE 2

Tracking Our Progress

SCOPE 1

Tracking Our
Progress

Sustainability at Sidley

SCOPE 3Introduction

7,132.32
140.21

2019
2022

Legal Services

About This Report

GHG Emissions Comparison 2019 & 2022
Scope 1

Scope 2

Scope 3Emissions Type

2019
tCO2e

2022
tCO2e

ChangeStationary(Natural Gas)

250.85242.26-8.59

Fugitive Emissions(Refrigerants)

26.54

283.19*256.65Purchased Electricity(Electricity)

7,096.47

0*-7,096.47

Purchased Steam(Steam)35.85

140.21104.36

Purchased Goods
and Services

22,904.65

20,990.04-1,914.61

Capital Goods

6,146.68

5,163.91-982.77

UpstreamTransportation

831.2

721.42-109.78

Waste Generated
in Operations

240.37241.15

0.78

Business Travel

6,433.38

4,910.39-1,522.99

Employee Commuting

6,131.43

4,657.83-1,473.60

Total

50,097.42

37,350.40-12,747.02

42,687.72
36,684.74*For further details, see the About the Report section on page 13.

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Introduction

Global Business
Operations

Sustainability at Sidley

Tracking Our Progress

EnergyA major focus of Sidley’s sustainability strategy
has been to identify ways to reduce energy in
our offices. Some of the energy-saving practices
already underway include:– ENERGY STAR and EPEAT-certified computers,
IT peripherals, and kitchen appliances, withenergy savings settings applied by default– Upgraded LED lighting, occupancy sensors,
daylight sensors, and zoned lighting areas– Automated building systems that regulate
heating, cooling, and ventilation basedon occupancy– Routine training and reminders to lawyers
and staff to turn off unnecessary lights anduse recycling and composting bins

Global Business Operations

Stakeholder Engagement

Furthermore, Sidley is committed to transitioning
to 100% renewable electricity across our realestate portfolio. As utility grids gradually increase
their sourcing of renewable power and severalof our property managers opt into green powerpurchasing agreements, we are supplementing
those efforts by purchasing renewable energy
credits (RECs) equivalent to our energy use fromtraditional energy sources. This investment enables
us to reduce our carbon footprint and support thetransition to a more sustainable energy system.

About This Report

Carbon Neutrality
Above and beyond our commitment to achieving
net-zero emissions through changes to businesspractices and energy sources, we also support
carbon mitigation efforts beyond our operations
and services. As such, our approach also
incorporates high-quality, jurisdictional REDD+
carbon credits equivalent to our Scope 1 emissions.
Together with our commitment to 100% renewableenergy, these steps effectively make Sidley’s direct
operations carbon neutral.

Renewable Energy Projects
In 2022, our investment in RECs have supported
the development of a number of renewable energy
projects on a global scale.
Types

Locations– Periodic energy audits to identify further
opportunities for efficiency

Wind

China

Biomass

Germany– EV charging stations at selected locations

Hydro-Electric

Malaysia
United Kingdom
United States

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Legal Services

Carbon Offsets Support
Peru’s Tambopata ProjectThrough our carbon offsetting, Sidley
supported Asociación para la Investigación
y el Desarrollo Integral (AIDER), a nonprofit
organization committed to environmental
conservation and sustainable development,in support of the Tambopata Project. This
REDD+ project seeks to reduce deforestationand degradation in the Tambopata National
Reserve and Bahuaja-Sonene National Park
located within the Madre de Dios regionof Peru.

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Introduction

Global Business
Operations

Sustainability at Sidley

Tracking Our Progress

Green Buildings
Sidley has 21 locations in nine countries around theworld. At each location, office managers coordinate
environmental efforts, including engagementwith landlords and property managers andcommunication with lawyers and staff. Below is asnapshot of what “green office” practices we havein place across our global platform:

Global Business Operations

Stakeholder Engagement

13 Locations Are in LEED* and BREEAM**
Certified Green Buildings

ChicagoPalo Alto
Washington, D.C.

– 95% of offices have practices toreduce waste and increase recycling– 81% of offices have initiatives toreduce energy consumption– 81% of offices engage with landlords
and property managers to implement
green building practices– 67% of offices regularly purchase products
and services with environmental certifications,third-party sustainability approvals, or otherenvironmental attributes

DallasHong Kong
HoustonLos Angeles
New York
San Francisco

Legal Services

About This Report

London Office Enters
CUBE Competition
In 2022, Sidley’s office in London took part in
the CUBE competition — a UK-wide initiativethat leverages gamification to help landlords,
managers, and occupiers collaborate as one
team in delivering significant energy savings.
The year-long competition focuses on
evaluating and improving the energy efficiency
performance of buildings. By encouraging
cooperation between all stakeholders involvedin building management and occupation,
CUBE seeks to drive sustainable practices
and reduce carbon emissions.

BostonCentury City

– 51% of offices have active efforts
to reduce paper use
LondonBrussels*Leadership in Energy and Environmental Design (LEED) is a worldwide standard for sustainability inbuilding design and construction.
**Building Research Establishment’s Environmental Assessment Method (BREEAM) is the environmental
standard for buildings and interior spaces in the UK and Europe.

Note: Sidley’s Miami office opened its doors in 2022. The building is currently pending LEED certification.

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Introduction

Global Business
Operations

SIDLE Y AUS TIN LLP | SUS TAINABILIT Y REPORT 2023

Sustainability at Sidley

Tracking Our Progress

Business Travelers

Global Business Operations

Stakeholder Engagement

Legal Services

About This Report

Paper Reduction

To better understand the environmental impactof our travel choices, we maintain a close working
relationship with American Express GBT Lawyers
Travel (Lawyers Travel™), a vendor dedicated toenvironmentally sound business practices thatminimize waste and reduce carbon emissions
and greenhouse gases. Our partnership involves
exploring sustainability solutions, ensuring accurate
data collection, and incorporating Lawyers Travel’s
resources and eco initiatives into our managed
travel programs.

In such a paper-heavy profession, we are constantly
looking for ways to reduce our paper use. Someof the most effective strategies across our global
offices include:

Sidley has long relied on innovative virtual
collaboration tools and videoconferencing toconnect clients and colleagues effectively from afar.
While in-person meetings remain necessary at times,
we are committed to promoting virtual options
wherever suitable, which reduces greenhouse gas
emissions linked to travel. We engage with ourclients regarding their sustainability initiatives andconsider their policies and guidance on businesstravel. Additionally, we encourage our lawyers andprofessional staff to evaluate each travel opportunity,
taking into account video and virtual alternatives
before booking their flights or low-carbon
transportation options.

– Using electronic closing books andtranscripts instead of paper versions– Using an electronic document management
system to store and retrieve documents– Setting printers to print double-sided by default– Using e-sign software to eliminate theneed for multiple copies of printed contracts
and agreements– Reusing shipping boxes, delivery boxes,and manila envelopes– Switching to e-brochures and electronic
circulation of meeting materials– Investing in online journal subscriptions to remove
the need for printed copies of books and articles

Carbon Impact of Paper Use
In 2022, Sidley reduced emissions associatedwith paper usage by 48% compared to thebaseline year. This is equivalent to carbon
sequestered by 1,154 acres of U.S. forests orremoving 215 gasoline-powered passenger
vehicles from the road for one year.

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Introduction

Stakeholder
Engagement

Sustainability at Sidley

Tracking Our Progress

To enhance the way we operate as a sustainablebusiness, we frequently collaborate with key internaland external stakeholders worldwide. These
collaborations allow us to share best practices
and experiences, inspire participation, and work intandem to solve complex environmental problems.
Such collaborations help us with evaluating ourpolicies and processes to operate more sustainably
and better serve our clients and communities.

Climate Risk Assessment
In 2022, we conducted our first climate risk
scenario analysis to better understand how climatechange may present physical, legal, market,
and technological risks to the firm. Guided bya sustainability consultancy that designed andfacilitated a workshop in alignment with guidelines
from the Task Force on Climate-Related Financial
Disclosures, we engaged senior directors andleadership, along with key administrators andmembers of our sustainability department, in
exploring plausible climate futures and how
the firm’s business strategy would fare undersuch scenarios.

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Stakeholder Engagement

The subsequent analysis helped us identify andassess the potential risks and opportunities
associated with climate change, allowing us todevelop effective strategies to manage andmitigate these risks. These included:– Disruptions to business continuity– Increasing complexity of legal requirements due
to climate change– Evolving office space needs– Evolving workforce needs

Client Relations
Sidley is proud to be a trusted and reliable partner
to global business. By actively listening to theneeds of our clients, we support their efforts inmeasuring their environmental performance andpartner with them to achieve their long-termsustainability objectives. Our participation in
CDP and other reporting enables us to track andmeasure progress, identify risks and opportunities,
and learn new tools that put sustainability into
action for our clients and other stakeholders.
Please refer to the Legal Services section to learn
more about our client work.

Legal Services

About This Report

Legal Profession
Sidley delivers innovative thought leadershipat the leading edge of environmental law. Ourlawyers are frequent speakers and authors andregularly participate in key industry conferences
and initiatives. We keep clients and industry
professionals abreast of emerging issues throughnews updates, blog posts, and various roundtables,
webinars, and other event formats. The Sidley
Podcast series has also featured topics related tosustainability, with episodes covering the Supreme
Court’s decision in West Virginia v. EP, the growthof green bonds, and climate action initiatives in the
U.S. and the EU.
Law Firm Sustainability Network
To support and develop our efforts, Sidley is amember of the Law Firm Sustainability Network(LFSN), a nonprofit organization of law firms andlegal departments committed to promoting thebenefits of sustainability and corporate social
responsibility within their firms and throughout thelegal profession. Founded in 2011, LFSN has grown
to include global partners such as the American
Bar Association, the Legal Sustainability Alliance,
and the Australian Legal Sector Alliance.

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Introduction

Stakeholder
Engagement

Sustainability at Sidley

Tracking Our Progress

Supply Chain Management
We believe that ethical and responsible sourcing
is important throughout the supply chain. We
continue to seek out suppliers and vendors
who share our dedication to sustainability andenvironmental stewardship. Throughout 2022,
we engaged with Lawyers Travel™ to improve
our travel reporting, Iron Mountain to shred andrecycle our paper waste, and property managers
to prioritize sustainability in their buildings andoperations. Fostering trusting relationships withthese partners, we are working toward greatertransparency in our supply chain and long-termclimate commitments. Moreover, we encourage
our suppliers to adopt similar sustainable businesspractices in their operations.
Our offices employ a variety of sustainable sourcing
strategies, from day-to-day procurement of healthysnacks to choosing building renovation materials
with air quality and human health in mind. A surveyof office managers found green purchasing
generally fell into the following four categories:

Global Business Operations

Stakeholder Engagement

Kitchen– Reusable glassware and coffee cups
– Permanent dishware and cutlery– Recycled-content napkins and otherpaper products
Food– Healthy snacks with a focus on minimallyprocessed and whole foods– Locally sourced food for catered meals– Vegetarian options for catered meals

Legal Services

About This Report

New York Office Uses Tracking
Tool to Reduce Food Waste
In 2022, the food services team in Sidley’s
New York office began using Waste Not, a
web-based tracking tool designed to help
cut food waste in the kitchen and reduce theamount that is sent to landfills. This innovative
program uses real-time tracking anddashboard reporting to control food waste
and monitor environmental impact, as well as
further identifying areas for improvement.

Cleaning– Non-toxic and eco-friendly everyday
cleaning supplies– Low-odor and emissions carpet cleaning– Recycled-content and/or sustainability
certified paper towels
Building and Equipment– Low VOC paint for renovation work
– Energy-efficient computers, IT peripherals,
and appliances– Office furniture with recycled materials

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Introduction

Legal Services

Sustainability at Sidley

Tracking Our Progress

Sidley is regarded as a forerunner in a broad arrayof areas related to sustainability and environmental
law. We regularly provide advocacy and thought
leadership in matters pertaining to ESG, climatechange, environmental justice, and renewableenergy — with extensive experience spanning a
number of industries, including aviation and airlines
and transportation.
Our lawyers also understand the importanceof using their skills and experience to assist
underserved communities, individuals, andorganizations who cannot afford legal
representation. Through Sidley’s Emerging
Enterprises Pro Bono Program, our lawyers
support sustainable and economic growth acrossthe developing world by offering high-quality
international legal services to sociallyand environmentally focused business.
Recent engagements include representing:

Aviation and Airlines
American Airlines in its investment in ZeroAvia, aleader in hydrogen-electric, zero-emission aviation.
In addition to the investment, a memorandumof understanding provides American Airlines
the opportunity to order up to 100 enginesfrom ZeroAvia’s hydrogen-electric powertrain
development program. This investment showcases
another action on American Airlines’ path to

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Global Business Operations

Stakeholder Engagement

achieve its aggressive climate goals, including
achieving net-zero GHG emissions by 2050.
United Airlines Ventures in a strategic investment
in NEXT Renewable Fuels, which is permitting aflagship biofuel refinery that, at full production,
could produce up to 50,000 barrels per day ofsustainable aviation fuel, renewable diesel, and otherrenewable fuels.

Environmental, Social,and Governance
The investors providing the construction equity
for projects developed by the Advanced Clean
Energy Storage Joint Venture, which will be thelargest green hydrogen production and storage
platform in the world upon completion – Winner of
IJGlobal’s 2022 Deal of the Year.

Renewable Energy
Distributed Solar Development, LLC (DSD), a
leader in large-scale, custom solar PV and energy
storage solutions, in a US$155 million private notes
offering that securitized a portfolio of commercial
and industrial (C&I) and community distributed
generation (CDG) assets. The offering is the firstever 144A transaction to securitize a C&I portfoliowith a significant concentration of CDG assets, andis the first term securitization sponsored by DSD.
The deal sets an industry model for issuers seeking
to bring community solar to debt capital markets.

Legal Services

About This Report

Invenergy in a definitive agreement withBlackstone Infrastructure Partners and Caissede dépôt et placement du Québec for an
approximately US$3 billion equity investment
in Invenergy Renewables Holdings LLC, thelargest private renewable energy company inNorth America, by funds managed by Blackstone
Infrastructure Partners. This commitment is oneof the largest renewable investments in North
American history, and will provide significant
capital to drive an accelerated build-out of
Invenergy’s clean energy platform.
Brookfield Renewable, one of the world’s largest
publicly traded, pure-play renewable power
platforms, in its purchase of Urban Grid, one of thelargest greenfield solar and battery storage project
developers in the United States.
TC Energy Corporation in a US$29.3 million
investment in a renewable natural gas (RNG)
production facility near the Jack Daniel Distillery in
Lynchburg, TN. Owned by Lynchburg Renewable
Fuels LLC and sponsored by 3 Rivers Energy
Partners, the facility will produce RNG with a carbon
intensity score that is 50% lower than traditional
natural gas, saving up to 16,000 tons of CO2e/year.

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Introduction

Legal Services

Sustainability at Sidley

Tracking Our ProgressTransportation
Pilot Company in an agreement with GM to build
out a national DC fast charging network that will
help accelerate the widespread adoption of EVs,
increase access to charging, and help enablelong-distance electric travel of people and vehicles
across the U.S. This network of 2,000 charging
stalls, co-branded “Pilot Flying J” and “Ultium
Charge 360,” will be powered by EVgo eXtend andopen to all EV brands at up to 500 Pilot and Flying J
travel centers.

Pro Bono
myAgro, an inspiring social enterprise, with thedrafting of their third series of working capital
facilities. myAgro helps to transform the lives ofsmall-scale farmers in Mali, Senegal, and Tanzania
by alleviating poverty. The enterprise provides
business solutions for farmers living in remoteplaces, including financing through layawaysavings for farm inputs, distribution of seed andfertilizer, and providing training on sustainableagricultural practices.
OnePower, an innovative social enterprise withdeep roots in Lesotho, on its Electrification
Financing Initiative and Renewable Energy
Performance Platform’s LSL 150 million seniordebt and equity investment.

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Global Business Operations

Stakeholder Engagement

Legal Services

About This Report

Sidley Helps Pro Bono Client
Link Clean Energy Access in India
to the Carbon Market in Korea
A Sidley team, in connection with the firm’s
Emerging Enterprises Pro Bono Program,helped our client MicroEnergy Credits (MEC)
enter the emerging carbon market in South
Korea. MEC, which has been a Sidley client
since 2014, helps provide micro-entrepreneurs,
primarily women, in developing countries withclean energy products that result in reductions
in CO2 emissions that can be certified under
the United Nations Framework Convention on
Climate Change.
Sidley assisted MEC with their complex, multistage initiative to convert certified emission
reduction credits generated by MEC throughthe sale of clean energy products in India
into Korean Offset Credits (KOCs). The KOCs
can then be sold to power companies inSouth Korea under legislation introduced in2010 permitting the allocation and trading ofgreenhouse gas emission credits.
MEC’s clean energy products include solar
lighting, efficient stoves, and water purifiers.
The company partners with microfinanceinstitutions (MFIs) to launch and scale clean
energy lending programs by providing social
impact carbon credits to net zero pioneers.

Each carbon credit comes from a householdthat has upgraded their home and/or lifestyleusing clean energy. Since its founding in
2007, MEC has expanded throughout India
and has also established a footprint in Kenya,
Mongolia, and Uganda.
“Sidley’s support has been amazing, and they
have truly gone above and beyond their roleof mere legal counsel,” said April Allderdice,
CEO and co-founder of MEC. “They haveprovided pertinent and strategic insights,
understood our social mission, and have theright alignment to our cause. It has been afantastic partnership, and Sidley has been withus at every stage of our growth.”
Sidley first represented MEC in connection
with an equity investment by a social impact
investment fund. The firm also advised on two
successive bridge financings from an angel
investor and a term loan facility from a sociallyoriented lender, as well as advising on various
proposed changes to MEC’s capital structure.

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Introduction

About This Report

Sustainability at Sidley

Tracking Our ProgressThis is Sidley’s second annual sustainability report,
covering calendar year 2022. It is inclusive of all
Sidley sites and operations unless otherwise noted.

Boundary, Scope, and Methodology
We began calculating our carbon footprintin 2020 (for a 2019 baseline), and like manyorganizations, we began with emissions
categories that were readily available. In 2023, inpartnership with a sustainability consultancy, we
expanded the breadth of those calculations tolook comprehensively at emissions across ourentire value chain and in alignment with the GHG
Protocol and the Science Based Targets Initiative
Corporate Net-Zero Standard.
As a result, our reported 2022 carbon footprint
is significantly larger than what was reported inprevious years. This increase, however, is almost
entirely attributable to the expanded set of data
points included, rather than significant changes inour business practices. When the 2019 baseline
was restated to conform with this expanded
methodology, it showed that Sidley had reduced
its carbon footprint 25% over the last four years.

Scope 1 and 2 Emissions
Sidley offices and data centers were included in
Scope 1 and 2 emissions calculations, excluding
very small offices representing less than 5% of

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Stakeholder Engagement

our employees. Because Sidley leases its space,
we relied on property managers and landlords toprovide data on utility and refrigerant use. Where
only data for the entire building was available,
Sidley estimated its allocated use based on
percentage of square foot occupancy. Where
energy data were completely unavailable for a
specific site, Sidley extrapolated for that site basedon square footage intensity factors for Sidley’s“average” office or data center.
Scope 1
Fugitive Emissions: Fluctuations in Scope 1
emissions are largely attributable to refrigerant
top-offs for HVAC equipment, which occur at
irregular intervals.

Legal Services

About This Report

Scope 3 Emissions
Category 1
Purchased Goods and Services: Prior to 2022, wetracked the upstream emissions associated with food,paper products, and toner. This year, we significantly
expanded the scope of these calculations to also
include all other purchased goods and services(spend analysis) comprising 18 spend categories andexcluding costs related to payroll/benefits, legal fees,charitable contributions, and bank-related charges.
Category 2
Capital Goods: This category covers upstream
emissions associated with all depreciable purchases
made in 2022 (spend analysis).
Category 3

While the firm purchased high-quality, REDD+
carbon offsets equivalent to our Scope 1 emissions
for the 2022 reporting cycle, we recognize thatcarbon offsets are a tool to be used “above andbeyond” changes to business practices. As a result,
we have reported our total Scope 1 emissions
without including the carbon offsets.

Upstream Transportation and Distribution: This
category covers emissions associated with courier/messenger/postal service (spend analysis).

Scope 2Category 5

Purchased Electricity: We purchased andretired RECs equivalent to our Scope 2
emissions thereby resulting in zero 2022
purchased electricity emissions.

Waste Generated in Operations: This category
includes emissions associated with municipal solid
waste, mixed recycling, organics/composting,shredded paper, and e-waste. Where activity data
for specific sites were unavailable, we extrapolated
based on square foot intensity factors.

Other Fuel and Energy: Immaterial
Category 4

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Introduction

About This Report

Sustainability at Sidley

Tracking Our Progress

Stakeholder Engagement

Category 6

Category 10

Business Travel: Sidley’s travel agency provided
carbon emissions associated with air travel. In 2022,
we added calculations for emissions associatedwith rail (distance), hotel stays (number of nights),
and car rentals (distance) for trips booked throughthe travel agency.

Processing of Sold Products: Not relevant

Category 7
Employee Commuting: Commuting was calculatedusing an average distance (zip code to zip code)for each employee. Estimates for single-passenger
vehicle commuting vs. public transportation weremade on an office-by-office basis, and estimates
for the number of days per week commuting weremade based on job category. Incremental energy
consumption from remote work was calculatedusing a guide published by the Anthesis Group,
Estimating Energy Consumption & GHG Emissions
for Remote Workers (2021) (no survey option).
Category 8
Upstream Leased Assets: Not relevant
Category 9
Downstream Transportation and Distribution:
Downstream transportation (primarily courier/messaging/postal services) is combined andreported as part of Category 4: Upstream
Transportation and Distribution.

SIDLE Y AUS TIN LLP | SUS TAINABILIT Y REPORT 2023

Global Business Operations

Category 11
Use of Sold Products: Not relevant
Category 12
End of Life Treatment of Sold Products: Not relevant
Category 13
Downstream Leased Assets: Not relevant
Category 14
Franchises: Not relevant
Category 15

Legal Services

About This Report– Utility-provided emissions factors (2022) for
market-based electricity consumption.
– U.S. EEIO emissions factor datasets for spendbased analysis of 1) purchased goods andservices, 2) capital goods, and 3) upstream
transportation and distribution.
– Environmental impact estimates for office paper
consumption were made using the Environmental
Paper Network Paper Calculator Version 4.0. For
more information, visit www.papercalculator.org.
– Remote work impacts were calculated using theguide Estimating Energy Consumption & GHG
Emissions for Remote Workers (Anthesis Group,2021) (no survey option).

Investments: Not relevant

Restatements

Emissions Factors

Carbon footprint information (page 5) for the 2019baseline year has been restated in alignment withthe explanation provided above.

The following emissions factor datasets were usedin the 2022 carbon footprint calculations:– EPA GHG Emissions Hub Datasets (April 2023)
for natural gas, steam, heating oil, waste,business travel, employee commuting (via car/public transit), and location-based electricity (forU.S. sites only).
– EIA Electricity Emissions Factors (2021) for
location-based electricity consumption atinternational sites.

For More Information
We welcome your feedback. For questions,concerns, or suggestions, please contact:
Sharon Light, Director of Sustainability,
sustainability@sidley.com.

14

Introduction

Sustainability at Sidley

Tracking Our Progress

Global Business Operations

Stakeholder Engagement

Legal Services

About This Report

CHICAGOBOSTONLONDONNEW YORKBRUSSELSBEIJINGWASHINGTON, D.C.

MUNICHTOKYOLOS ANGELESMIAMIGENEVASHANGHAICENTURY CITYDALLASPALO ALTOSAN FRANCISCO

HOUSTON

HONG KONG

About the Firm
Sidley is an elite global law firm. With 2,300
lawyers, annual revenue of US$3 billion, andexperience that spans 157 years, we haveestablished a reputation using Built to Win
legal strategies in successfully representing
clients in more than 70 countries on complex
transactional, investigation, regulatory, andlitigation matters.
SM

SINGAPORESYDNEY

With 21 offices strategically situated in key
commercial and financial hubs throughout theUnited States, Europe, and Asia Pacific, ourperspective and our reach are truly global.
Our lawyers and business professionals, fluent
in more than 80 languages, possess thecultural awareness and cross-border legal
acumen needed to bring clarity to a dynamic
business landscape.

SIDLE Y AUS TIN LLP | SUS TAINABILIT Y REPORT 2023

Attorney Advertising - Sidley Austin LLP, One South Dearborn, Chicago, IL 60603, +1 312 853 7000. Sidley and Sidley Austin refer to Sidley Austin LLP and affiliated partnerships as explained at www.sidley.com/disclaimer. Prior results do not guarantee a similar outcome. Photos may include Sidley alumni or other individuals who are not Sidley lawyers. Photos may be stock photographs.

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