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17 July 2024 / Quick Take
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Copy LinkClimate-related lawsuits are on the rise worldwide, exposing businesses to significant legal risks from their environmental impact. According to recent research,1 there has been a notable uptick in climate-related lawsuits since the 2015 Paris Agreement. Of the 2,341 cases on record, nearly two-thirds (1,557) have been filed since the adoption of the Paris accord, including 190 in the last year alone.
Climate litigation is a rapidly emerging risk for businesses across various sectors, from oil and gas to food and agriculture, finance, and consumer goods. These lawsuits range from consumer complaints to derivative actions (i.e., lawsuits brought by shareholders against the directors, management and/or other shareholders of the corporation for a failure to act in the best interests of the company). As jurisdictions across the globe ramp up climate action mandates through reporting, disclosure, and target setting, companies should proactively prepare for potential lawsuits. Mitigation strategies begin with evaluating a company’s environmental footprint,
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