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Agree with both the other posters. It's not a "business case" thing. Your firm's corporate social responsibility policy should encourage it, but you may have to balance it by doing less pro bono work, for example. You have a right to time off work for public duties including governorship(https://www.gov.uk/time-off-work-public-duties). But beware hard-nosed firms who refuse to adjust your chargeable hours targets accordingly or fail to recognise public service as CSR time and thereby put you in the firing line for redundancy.