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Over the course of five days, over 25 experts and 35 students from across the world and disciplines gathered at McGill Faculty of Law to participate in the inaugural Transformative Business Law Summer Academy led by Professor Peer Zumbansen. Ranging from topics related to supply chain management to ESG, the students produced a 120-page report focused on corporations, finance, and their environments.

On May 30th, 2023, Anne Campbell, a second-year student at McGill Faculty of Law, had the chance to sit down with Marc Barbeau to discuss the importance of business law and sustainability. Barbeau is an Adjunct Professor in Corporate Finance at McGill Law. He is currently Air Canada鈥檚 Executive Vice President and Chief Legal Officer. Prior to his tenure at Air Canada, Barbeau was Chair of Stikeman Elliott LLP.[1]

Anne Campbell: Looking back at the TBLS Academy, what are your biggest takeaways from the experience?

Marc Barbeau: First of all, it is important that the Academy happened in the first place. To give you a bit of background, for many years, Dean Robert Leckey, and the Faculty Advisory Board of which I am a member, have looked for ways to enhance the presence of business law at McGill, which has led to the creation the Business Law Chair. The faculty should be incredibly proud of these developments, and of having Professor Peer Zumbansen in the role. The advantage of having Prof. Zumbansen and the Business Law Chair within the faculty is the ability to innovate and grow further the faculty's approach to business law, as seen through the TBLS Academy. This experience has brought together students and experts from all around the world and all disciplines to discuss business law at our faculty. We couldn't have achieved this without the tremendous initiative and work of Professor Peer Zumbansen, his team, and the faculty.

Reflecting on the current business and social context, why is the TBLS Academy important right now?

Barbeau: The TBLS Academy included a wide range of topics which are relevant to businesses and society as a whole, that is corporate purpose, finance, global value chains, and digitization and artificial intelligence. Businesses and business law are not separate from these conversations, but an integral part of them. And although some may say that businesses are a part of the issue, they are necessarily part of the way forward. To have conversations about sustainability or any of these important topics, you must have conversations with citizens, stakeholders, and businesses.

Following up on your previous comment, are business and sustainability compatible? Is there a business case for sustainability?

Barbeau: From a legal perspective, businesses in Canada and their boards of directors are encouraged to look to the long-term interests of their corporations, which aligns with sustainability. Indeed, businesses want to be relevant and responsive to the needs of their customers and stakeholders in the long term, including shareholders, many of whom have very long-term outlooks. For example, pension funds need look to the long term, leading them to seek companies that focus on the prioritization of long-term sustainable business models.

You touched on the multiple stakeholders that businesses must consider; how do you manage the relationship between employees, customers, and the environment, when their interests may appear contradictory?

Barbeau: Businesses have choices to make and have to weigh a broad range of factors when they do that, including the interests of employees, customers, and other stakeholders. This is not unlike the process that leads to government policies being adopted. Indeed, our governments face trade-offs regarding social, economic, and environmental policies when they consider how to develop and implement overall public policy. At a corporate level, companies' boards of directors also look to similarly different, occasionally competing, interests in making decisions. And as the Supreme Court of Canada referred to in BCE, boards of directors look to the corporation's long-term interests, which offers a way to discuss corporate sustainability. Yes, there will be trade-offs, just as there are trade-offs by governments when they make policy, but this is an integral part of decision-making generally, whether in the private or public spheres.

Given your extensive experience in the legal profession, I would be doing my classmates a disservice if I didn't ask what advice you have for a McGill Law student starting their career in business law.

Barbeau: First thing, I am delighted that you are considering a career in business law, just as I did. Some time ago, when I was in your position, I developed an interest for public law, largely because of some inspiring professors here at McGill who taught in those areas. That led me to do graduate work in France in French public law, and to plan on pursuing my studies and career in related areas. When I returned to Montr茅al, I ended up articling at a business law firm, Stikeman Elliott, and realized that all the legal and policy issues I found interesting in public law were also present in business law. It鈥檚 not just about business, as evidenced by our previous discussion relating to BCE.

Second, to excel in business law, like other areas of law, you will have to invest time to deepen your legal knowledge. You are developing the tools to succeed in your learning journey. And when you go into legal practice, you continue to learn. Embrace the opportunity at every turn, and learn from colleagues, clients, and opposing counsel.

Lastly, to be an excellent lawyer, you must be an excellent listener. The most effective lawyers are those that prioritize listening in all phases of their work, including before they advocate. Whether with your colleagues, clients, or mentors, listening will help you learn faster, grow your network deeper, and make a more significant and meaningful impact.

Thank you again for serving as an expert in the TBLS Academy, any last words of advice?

Barbeau: Look out for good mentors throughout your professional life, and remember, in turn, to take every opportunity that comes your way to be a mentor to others.