Crisis in the Underdark
As with the other adventures, factions do play a part in this campaign. They are not, however, very important overall to your character. Be a part of a faction, don’t, it won’t make a huge difference. The main reason to be part of a faction is for character story purposes.
The factions are: Emerald Enclave, Harpers, Lord’s Alliance, Order of the Gauntlet & the Zhentarim.