The time is now - climate risk a mandatory issue for all boards
We expose the significant liability risk faced by companies and individual directors if they continue to treat climate change as an issue for ‘tomorrow’s board’.
Climate risk
Navigating Environmental, Social and Governance issues
Climate change litigation is becoming increasingly prevalent and has the potential to substantially disrupt business activities or operations, with subsequent cost implications. Accordingly, it is not surprising that businesses are stepping up their efforts to understand, assess and minimize their exposure to risks associated with climate change-related legal action.
Key risks to business associated with climate change litigation, among others, include exposure to damages claims, financial and reputational cost of defending litigation, disruption to operations and enforcement of financial disclosure requirements. To date, the majority of climate change litigation has occurred in the US, followed by Australia, the UK, the EU, New Zealand, Canada and Spain.
Articles
Quelling the Extinction Rebellion
Directors of all companies need to actively consider and plan for climate risks now.
Climate change litigation update
The total number of climate change cases filed to date has now reached 1,302, with 148 new cases being filed since August 2018.
Climate Change Authority consultation on emissions policies
In July the Climate Change Authority released a consultation paper to support its work in updating its advice to the Australian Government on climate change policies.
Momentum builds towards international carbon market
At the fiftieth session of the UNFCC Conference of the Parties, negotiators agreed to a draft text for the implementation of Article 6 to the Paris Agreement.
Australian election climate change update
The result of the May Federal election is likely to set the tone for the level of Australia’s ambition to address climate change and engage on this issue at the international level.
Further legal opinion covering directors' duties and climate change
An update of a 2016 legal opinion on how Australian law requires company directors to consider, disclose and respond to climate change has been released.
Climate change litigation: is your business prepared?
We draw on relevant case summaries and highlighting key trends, developments and lessons in relation to climate change litigation.
Climate-related financial risks: are banks and insurers risk ready?
The Bank of England's Prudential Regulatory Authority identified two primary categories of climate-related financial risk for regulated firms – physical risk and transition risk.
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