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Environmental, social and governance (ESG) matters rapidly rose up the corporate agenda in 2019, such that ESG is now a mainstream issue across all areas of corporate life, including in mergers and acquisitions (M&A), global law firm Herbert Smith Freehills states in a new report, entitled ‘M&A in 2020: The New Normal’. The report analyses this key trend that has come to the fore in the past 12 months owing to increased awareness of climate change, unease with globalisation and pressure from activists and consumers.