The dinner meeting in Monterrey gathered among the best GCs in the city who discussed nearshoring, climate change adaptation and mitigation, and diversity and inclusion in Mexico.
The conversation on nearshoring highlighted the potential advantages of relocating certain legal functions or processes to Mexico. Cost-efficiency was identified as a significant benefit, given the availability of skilled legal professionals at lower rates. Additionally, nearshoring presents an opportunity to access a diverse pool of legal talent and establish cultural alignment. There are, of course, risks associated with it in terms of how to properly manage natural resources. Establishing new companies in the country signifies more stress on the environment such as water which already represents a problem Up North.
Hence the participants recognized the importance of addressing climate-related challenges within the company’s operations. They emphasised the need to enhance sustainability efforts and align legal strategies with the company’s ESG goals. Partnerships with governmental and non-governmental organisations, as well as industry peers, were also considered essential for collaborative climate change solutions. One of the general counsel highlighted how it would be extremely efficient to think about circular economy as a model of production and consumption in order to minimise waste and pollution, maximize resource efficiency and regenerate natural systems.
Lastly, the discussion centered around diversity and inclusion in Mexico. Concerns about the underrepresentation of certain demographic groups in the legal profession. The need to attract and retain diverse talent was highlighted, with an emphasis on promoting an inclusive workplace culture that values diversity. Participants acknowledged the role of leadership in driving D&I initiatives and discussed the possibility of establishing a task force to address these issues.
In conclusion, the Monterrey dinner provided a platform for in-depth discussions on nearshoring, climate change adaptation and mitigation, and diversity and inclusion in Mexico. The outcomes included plans for feasibility studies on nearshoring, reviews of environmental policies, sustainability training, and the consideration of establishing a D&I task force. These outcomes reflect the GCs’ commitment to strategic decision-making, sustainable practices, and fostering a diverse and inclusive legal environment.