Eversheds Sutherland’s Post

"The number of court cases linked to climate change doubled between 2017 and 2022. There were more than 2,500 cases lodged worldwide as of mid-September, with more than 1,600 in the United States." - Research by United Nations, UN Environment Programme, Columbia University, Grantham Research Institute on Climate Change & the Environment, & The Business Times So maybe you think ESG isn't relevant to your company? Is not getting sued relevant to your company? What about avoiding regulator investigations and fines? What about maintaining your brand promise and local license to operate? You know the answer. With ESG disclosure regulations going into effect in every major market around the world, ESG is relevant to all companies. Rho Impact's "Impact Modeling" and "ESG-as-a-Service" offerings help you put numbers behind your narrative, and concrete action behind the public commitments. Rho Impact. You bring your WHY. We'll bring everything else (including the closest thing you can get to greenwashing insurance). https://lnkd.in/e9pnRPSH #esg #impactmeasurement #emissionsreduction #climaterisk #climatelitigation #climateliteracy #esgrisk #esgreporting #esgdisclosure #esgdata #impactmodeling #impactmanagement #impacteconomy #regulatorycompliance #classactionlawsuit #regulators

A Funder’s Perspective on Climate Litigation Although ESG investing is often viewed as a buzzword that lacks specificity and defined guidelines, it is clear that litigation funders have a growing appetite for lawsuits that tackle climate change and environmental impact issues. In a post on LinkedIn, Nivalion AG highlights the investor’s perspective on funding climate cases, examining both the challenges inherent to these lawsuits and the opportunities that they present for funders willing to back such claims. The funder begins by citing data from UNEP reporting which shows that the number of climate lawsuits being heard globally has risen from 900 in 2017, to nearly 2,200 in 2020. When it comes to jurisdiction, the majority of these cases are being brought in the United States, with less than 20% taking place in developing nations. https://lnkd.in/gcbsUARP #litigationfinance #litigationfunding #litfin #legalfinance #ESG #ESGLitigation #Climatelitigation

𝗔𝗱𝘃𝗮𝗻𝗰𝗶𝗻𝗴 𝗖𝗹𝗶𝗺𝗮𝘁𝗲 𝗝𝘂𝘀𝘁𝗶𝗰𝗲: 𝗞𝗲𝘆 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗟𝗦𝗘 𝗚𝗹𝗼𝗯𝗮𝗹 𝗧𝗿𝗲𝗻𝗱𝘀 𝗶𝗻 𝗖𝗹𝗶𝗺𝗮𝘁𝗲 𝗟𝗶𝘁𝗶𝗴𝗮𝘁𝗶𝗼𝗻 𝟮𝟬𝟮𝟯 𝗥𝗲𝗽𝗼𝗿𝘁. In June 2023, The LSE Grantham Research Institute on Climate Change and the Environment published its 5th Global Trends in Climate Litigation report. This comprehensive snapshot offers crucial insights into the current state of climate change litigation worldwide, shedding light on emerging trends, progress, and future projections. At No Impunity, we are committed to keeping our readers updated with the latest developments in climate justice and litigation, so we have collected some of the key insights here! 👇Let us take a look! 🧼 𝗧𝗵𝗲 𝗥𝗶𝘀𝗲 𝗼𝗳 "𝗖𝗹𝗶𝗺𝗮𝘁𝗲-𝗪𝗮𝘀𝗵𝗶𝗻𝗴" A significant trend highlighted throughout the report is the emergence of "climate-washing cases." These strategic litigations aim to challenge misleading claims made by companies regarding their climate-friendly operations, products, or services. With the increasing use of terms like "net-zero" and "climate neutrality," these cases seek to expose greenwashing and bring companies to account for their contributions to climate change. Crucially, in 2022, there were nearly five times as many cases of climate-washing in the U.S. and internationally as there were in 2019! 🌐 𝗢𝘂𝘁𝗰𝗼𝗺𝗲𝘀 𝗶𝗻 𝗚𝗹𝗼𝗯𝗮𝗹 𝗖𝗹𝗶𝗺𝗮𝘁𝗲 𝗟𝗶𝘁𝗶𝗴𝗮𝘁𝗶𝗼𝗻 The 2023 LSE report estimates that roughly 55% of the cases in which an interim or final decision has been reached had favorable outcomes! While it is crucial to recognize that favorable outcomes do not guarantee immediate positive consequences, successful cases continue to have positive effects both in the legal sphere and beyond. Undoubtedly, this is a major victory for climate justice! 🌊 𝗔 𝗦𝗲𝗰𝗼𝗻𝗱 𝗪𝗮𝘃𝗲 𝗼𝗳 𝗟𝗼𝘀𝘀 𝗮𝗻𝗱 𝗗𝗮𝗺𝗮𝗴𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆 After a series of failed motions in the early 2000s, cases regarding corporate accountability for climate harm are now backed by stronger legal frameworks and are experiencing a newfound success! Since the release of critical research and corresponding legal developments in 2014, a staggering 59 cases have been filed against the companies in question! By leveraging the findings of the LSE report, stakeholders can build on the momentum of strategic litigation to drive meaningful change and work toward a sustainable and equitable future for all! Find the full report by Joana Setzer and Catherine Higham at: 👇 https://lnkd.in/eBe6BvC9 And for more information on this topic, see our article here: 📰https://lnkd.in/eEZxBsUW 

Dive into our new commentary on the SEC's climate risk disclosure rules for US companies: https://ow.ly/q1qz50QZ5yZ - Our analysis leverages ESG disclosure ratings to compare US firms with global peers on environmental reporting. - We explore the implications of California's SB 253 Law, potentially more impactful for larger companies due to Scope 3 disclosures. - The commentary addresses potential legal and political challenges that may alter or revoke the SEC's current rules. #SustainableFinance #SECRules #ClimateRisk #ESGDisclosures #ESG #CorporateGovernance #Sustainability #ESGRegulation

In our 2023 Sustainability & CSR Report, Dispute Resolution partners Stan Brijs and Stijn Franken talk about addressing ESG risks and the role of climate litigation. Read the interview here: lnkd.in/e5ieJqXj. #ESG #climatelitigation #shapingtomorrow

🟢 Investors are "flying blind" to the cost of climate change litigation, according to a piece by the University of Oxford, adding to the debate over climate change litigation effectiveness 👉So far, 2,485 climate lawsuits have been ­filed. As a result, companies such as Chevron could be "in fact be net value destroying" 👉The reason why is that major sources of risks are not being accounted for by traditional methods, such as those suggested by the International Sustainability Standards Board (ISSB) and the #NGFS 👉 The authors suggests the effectiveness of #climate #lawsuits is being vastly underestimated: key elements such as raising interest rates and policy changes are not factored in Grantham Research Institute on Climate Change & the Environment ClientEarth FSB Task Force on Climate-related Financial Disclosures (TCFD) #climatelitigation #sustainability #climatechange

I came across this insightful article from Harvard Law School Forum on Corporate Governance discussing the dissonance in climate disclosure regulations among the SEC, EU, California, and ISSB regimes. The lack of harmonization poses significant business risks for multinational companies operating across these jurisdictions, including compliance challenges, increased regulatory burden, and potential legal exposure. However, amidst these challenges, there are strategic opportunities for businesses to proactively engage with policymakers and industry stakeholders to advocate for a more cohesive and standardised approach to climate disclosure. This proactive engagement can enhance reputation, build trust with investors, and gain a competitive advantage in the evolving ESG landscape. The article also highlights the relevance of Sustainable Development Goal 13: Climate Action and SDG 17: Partnerships for the Goals in addressing the dissonance in regulations. It emphasises the need for international cooperation and policy coherence in this crucial area. I invite you to read the full article here: https://lnkd.in/gS26cxH2 I would love to hear your views on this critical topic and how your organizations are approaching climate disclosure regulations. Mary Stewart Linden Edgell Mardi McBrien Fiona Wild #ClimateDisclosure #ESG #Sustainability #BusinessCompliance #CorporateAmbition

📢 Primer on Climate Change: Directors' Duties and Disclosure Obligations, Third Edition. The third edition of the Primer on Climate Change: Directors’ Duties and Disclosure Obligations provides an overview of the foreseeable financial and systemic risks, and opportunities, over short, medium and long-term investment horizons. ➡️Greece is featured for the first time thanks to the contribution of POTAMITISVEKRIS . Produced by the Climate Governance Initiative and the Commonwealth Climate and Law Initiative (CCLI), and covering 31 countries and the EU, it outlines the general climate obligations for board directors, and how company law and directors’ duties require directors to incorporate climate change into their strategies, legal oversight, and supervision of the companies entrusted to their care. Many of the sections, covering both globally applicable and country specific contexts, have been updated to include information on: ➡️ The International Sustainability Standards Board (ISSB) SR1 and SR2 standards ➡️ The European Union's Corporate Sustainability Due Diligence Directive ➡️ The Taskforce on Nature-related Financial Disclosures Access the Primer now: https://bit.ly/3szp47T #climatechange #climategovernance #cgigreece

Following more than a decade of analysis on #climatedisclosures, amid global debate and discourse, the U.S. Securities and Exchange Commission in March 2023 proposed a new rule that will require covered companies to publicly disclose climate-related information to increase transparency on their #ESG strategies, climate governance, and how they are addressing climate risks. This article discusses topic and activities law firms can discuss with their clients pertaining to the anticipated final rule.

This question is becoming more and more immanent: "Are brown investments more risky than others?" Polluting companies could be liable for trillions in damages from climate lawsuits. But few investors and regulators are taking these risks into account when evaluating companies’ climate-related financial risks, according to new Oxford Sustainable Law programme research published today in Science. The research calls for an overhaul in how climate litigation risks are assessed and provides a new framework for doing so. #investments #fossil https://lnkd.in/e4ejmvTU