Chambers Asia-Pacific Research Manager Hussain Ajina, wrote an article published in The Australian Business Review, the business section of one of Australia\u2019s leading newspapers. The article covers developments in the Australian legal landscape over the last year. Read the article below. <\/p>\n\n\n\n\n\n
The last twelve months have been awash with activity when it comes to the legal scene in Australia, and this has been exemplified in the launch of Chambers Asia-Pacific 2023. <\/p>\n\n\n\n
The 2023 guide sees the number of rankings for individual barrister go up by 47, to a grand total of 1,529, whereas the rankings for law firms and barristers\u2019 sets goes up to 632, an increase of 15. This includes a number of firms who have been ranked in Chambers for the first time, such as the Banton Group for Dispute Resolution: Class Action (Plaintiff) <\/em>and Meridian Lawyers for Insurance Defence<\/em>, and the list of newly ranked individuals includes 12 younger lawyers who were ranked as \u2018up and coming\u2019 lawyers or \u2018associates to watch\u2019<\/p>\n\n\n\n\n\n Amidst the continue outpouring of activity in the legal market over the last year, the one phrase that has been on most people\u2019s lips has been ESG. Interviewees, including both lawyers and the consumers of legal services, have been quick to highlight how much the prevalence of ESG issues has risen of late. <\/p>\n\n\n\n Various sources report \u201ca surge in ESG funding\u201d <\/em>and a \u201chuge source of deal flow in sustainable financing,\u201d <\/em>with one commentator simply stating: \u201cESG has exploded.\u201d <\/em>Most particularly, the area of climate change has been a key area of interest over the last year, with practitioners across numerous practice areas commenting on its increased importance, one source noting: \u201cThese days it\u2019s more critical to be looking towards climate change,\u201d <\/em>whilst an interviewee in the government space says: \u201cThe focus is on climate.\u201d <\/em><\/p>\n\n\n\n This focus can be seen in various types of work, with sources reporting \u201can uptick in climate change litigation\u201d <\/em>as well as that \u201con the regulatory side, climate change is significant,\u201d <\/em>while a number of consumers of legal services are commenting on firms\u2019 abilities to advise on climate-related issues, even when these are not the focus of the matter in question.<\/p>\n\n\n\n\n\n The recent prominence of climate-change issues is reflected in a new Climate Change legal ranking table<\/a><\/em> in Chambers Asia-Pacific 2023, which covers the Asia-Pacific Region as a whole. Though the table is focused on reflecting the entire region, readers will notice a preponderance of Australian names amongst the ranked firms and lawyers in that table, with Sydney-based Martijn Wilder AM being ranked as a band 1 lawyer for this area. <\/p>\n\n\n\n There is no doubt that Australia is regional, and indeed global, leader when it comes to the subject of climate change, and this will only continue as the field becomes of greater and greater significance going forward.<\/p>\n\n\n\n These trends have been particularly highlighted by new climate change legislation passed the Federal Parliament this year, which forms a part of the country\u2019s effort to transition away from carbon. <\/p>\n\n\n\n The inevitable effect that this will have on Australia\u2019s highly developed mining industry, particularly with regards to coal mining, has not gone unnoticed by market participants. One source notes: \u201cIn the mining space we\u2019ve seen some big exits \u2013 it\u2019s a good time to exit the market at the moment,\u201d <\/em>and another highlights \u201cthe scramble for tenure for energy transition projects,\u201d <\/em>adding: \u201cThere\u2019s been an influx of people looking to invest in renewables.\u201d <\/em><\/p>\n\n\n\n A final interviewee concludes: \u201cThere are huge opportunities in the development of renewables and the energy market transition.\u201d<\/em><\/p>\n\n\n\n\n\n Looking more broadly, the Australian economy has continued to be strong, having previously fared quite well during the COVID pandemic as compared with many other countries around the world. <\/p>\n\n\n\n A market commentator notes that \u201cit\u2019s been a very hot year for M&A with lots of investments into Australia\u201d <\/em>and another quips: \u201cThe last couple of years have been gangbusters for ECM, with lots of IPOs.\u201d <\/em>The flow of inbound investment has continued to see billion-dollar transactions taking place, but it cannot be said that Australia has completely escaped the economic pressures that are prevalent across the world at the moment, with one source commenting that \u201cprice volatility, particularly with regard to gas prices, has been driving a lot of disputes.\u201d <\/em><\/p>\n\n\n\n This comes as ASIC swings away from its mantra of \u2018Why not litigate?\u2019 adopted a few years ago, an interviewee noting that the regulator is \u201cno longer so keen on litigation.\u201d <\/em>The future of the economy is far from certain as, amidst continuing economic pressure around the globe and rising inflation, one practitioner in the insolvency space dryly notes: \u201cI\u2019ll have a lot more engagements next year\u2026 I hope.\u201d<\/em><\/p>\n\n\n\n As the legal scene moves on, with the ever-increasing prominence of ESG and climate change issues as well as the developing economic situation, Chambers will continue to keep a finger on the pulse of the Australian legal landscape, producing coverage which encapsulates the market as accurately as possible.<\/p>\n\n\n","protected":false},"featured_media":0,"parent":0,"template":"","categories":[],"tags":[],"publication":[],"blocks":[{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n Chambers Asia-Pacific Research Manager Hussain Ajina, wrote an article published in The Australian Business Review, the business section of one of Australia\u2019s leading newspapers. The article covers developments in the Australian legal landscape over the last year. Read the article below. <\/p>\n","innerContent":["\n Chambers Asia-Pacific Research Manager Hussain Ajina, wrote an article published in The Australian Business Review, the business section of one of Australia\u2019s leading newspapers. The article covers developments in the Australian legal landscape over the last year. Read the article below. <\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"lazyblock\/chambers-header","attrs":{"header":"Insights into the legal market in Australia","headerLevel":"2","blockId":"Z28Kcn1","blockUniqueClass":"lazyblock-chambers-header-Z28Kcn1"},"innerBlocks":[],"innerHTML":"","innerContent":[]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n The last twelve months have been awash with activity when it comes to the legal scene in Australia, and this has been exemplified in the launch of Chambers Asia-Pacific 2023. <\/p>\n","innerContent":["\n The last twelve months have been awash with activity when it comes to the legal scene in Australia, and this has been exemplified in the launch of Chambers Asia-Pacific 2023. <\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n The 2023 guide sees the number of rankings for individual barrister go up by 47, to a grand total of 1,529, whereas the rankings for law firms and barristers\u2019 sets goes up to 632, an increase of 15. This includes a number of firms who have been ranked in Chambers for the first time, such as the Banton Group for Dispute Resolution: Class Action (Plaintiff) <\/em>and Meridian Lawyers for Insurance Defence<\/em>, and the list of newly ranked individuals includes 12 younger lawyers who were ranked as \u2018up and coming\u2019 lawyers or \u2018associates to watch\u2019<\/p>\n","innerContent":["\n The 2023 guide sees the number of rankings for individual barrister go up by 47, to a grand total of 1,529, whereas the rankings for law firms and barristers\u2019 sets goes up to 632, an increase of 15. This includes a number of firms who have been ranked in Chambers for the first time, such as the Banton Group for Dispute Resolution: Class Action (Plaintiff) <\/em>and Meridian Lawyers for Insurance Defence<\/em>, and the list of newly ranked individuals includes 12 younger lawyers who were ranked as \u2018up and coming\u2019 lawyers or \u2018associates to watch\u2019<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"lazyblock\/chambers-header","attrs":{"header":"The growth of ESG across the Australian legal market","headerLevel":"2","blockId":"l1Duk","blockUniqueClass":"lazyblock-chambers-header-l1Duk"},"innerBlocks":[],"innerHTML":"","innerContent":[]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n Amidst the continue outpouring of activity in the legal market over the last year, the one phrase that has been on most people\u2019s lips has been ESG. Interviewees, including both lawyers and the consumers of legal services, have been quick to highlight how much the prevalence of ESG issues has risen of late. <\/p>\n","innerContent":["\n Amidst the continue outpouring of activity in the legal market over the last year, the one phrase that has been on most people\u2019s lips has been ESG. Interviewees, including both lawyers and the consumers of legal services, have been quick to highlight how much the prevalence of ESG issues has risen of late. <\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n Various sources report \u201ca surge in ESG funding\u201d <\/em>and a \u201chuge source of deal flow in sustainable financing,\u201d <\/em>with one commentator simply stating: \u201cESG has exploded.\u201d <\/em>Most particularly, the area of climate change has been a key area of interest over the last year, with practitioners across numerous practice areas commenting on its increased importance, one source noting: \u201cThese days it\u2019s more critical to be looking towards climate change,\u201d <\/em>whilst an interviewee in the government space says: \u201cThe focus is on climate.\u201d <\/em><\/p>\n","innerContent":["\n Various sources report \u201ca surge in ESG funding\u201d <\/em>and a \u201chuge source of deal flow in sustainable financing,\u201d <\/em>with one commentator simply stating: \u201cESG has exploded.\u201d <\/em>Most particularly, the area of climate change has been a key area of interest over the last year, with practitioners across numerous practice areas commenting on its increased importance, one source noting: \u201cThese days it\u2019s more critical to be looking towards climate change,\u201d <\/em>whilst an interviewee in the government space says: \u201cThe focus is on climate.\u201d <\/em><\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n This focus can be seen in various types of work, with sources reporting \u201can uptick in climate change litigation\u201d <\/em>as well as that \u201con the regulatory side, climate change is significant,\u201d <\/em>while a number of consumers of legal services are commenting on firms\u2019 abilities to advise on climate-related issues, even when these are not the focus of the matter in question.<\/p>\n","innerContent":["\n This focus can be seen in various types of work, with sources reporting \u201can uptick in climate change litigation\u201d <\/em>as well as that \u201con the regulatory side, climate change is significant,\u201d <\/em>while a number of consumers of legal services are commenting on firms\u2019 abilities to advise on climate-related issues, even when these are not the focus of the matter in question.<\/p>\n"]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"lazyblock\/chambers-header","attrs":{"header":"Climate change legal rankings","headerLevel":"2","blockId":"eUOkM","blockUniqueClass":"lazyblock-chambers-header-eUOkM"},"innerBlocks":[],"innerHTML":"","innerContent":[]},{"blockName":null,"attrs":[],"innerBlocks":[],"innerHTML":"\n\n","innerContent":["\n\n"]},{"blockName":"core\/paragraph","attrs":[],"innerBlocks":[],"innerHTML":"\n The recent prominence of climate-change issues is reflected in a new Climate Change legal ranking table<\/a><\/em> in Chambers Asia-Pacific 2023, which covers the Asia-Pacific Region as a whole. Though the table is focused on reflecting the entire region, readers will notice a preponderance of Australian names amongst the ranked firms and lawyers in that table, with Sydney-based Martijn Wilder AM being ranked as a band 1 lawyer for this area. <\/p>\n","innerContent":["\n