Fossil fuel phase-out to spur M&A in 2024, while ESG is top litigation risk, say law firms

Law firms Clifford Chance and Baker McKenzie have placed ESG at the heart of their outlooks for 2024

The expected acceleration of the phase-out of fossil fuels will lead to an increase in asset sales and spin-offs as oil and gas companies reconfigure their portfolios, predicts law firm Clifford Chance, while respondents to a survey conducted by peer Baker McKenzie cite environmental, social and governance factors as the primary litigation risk for 2024.