Nokia, the Finnish telecommunication company, has set up a scorecard system to assess the panel law firms it will partner with. The Company will assess the law firms quarterly and annually to assess their work in the areas of diversity, equity and inclusion (DE&I) and make strategies for the same. The scorecard system was presented to all the law firms in the month of March. Eversheds Sutherland, Roschier, Bird & Bird, Quinn Emanuel, McKool Smith and Alston & Bird are part of the first group of companies who take part in the assessment.
The law firms will be assessed on their recruitment policies — including the Mansfield Rule, which sets diversity targets for appointments — as well as pay equality, availability of mentoring and pro bono initiatives, the percentage of billable work carried out by employees from diverse backgrounds, engagement with diversity and inclusion organisations and the presence of a dedicated E, I&D team.
The panel will receive regular updates from the legal and compliance team of Nokia. This practice is expected to influence change and progress in terms of diversity and inclusion practices in the legal profession. Nokia’s diversity and inclusion committee will also guide and mentor these firms on some of the best practices that they can adopt to ensure improvement.
Last month, Vodafone also revealed its global legal advice panel, saying it will select firms on their shared commitment to promoting diversity targets and environmental, social and governance (ESG) best practices.