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TheCorporateCounsel

TheCorporateCounsel.net

A basis for research and practical guidance focusing on federal securities laws, compliance & corporate governance.

DealLawyers

DealLawyers.com

An educational service that provides practical guidance on legal issues involving public and private mergers & acquisitions, joint ventures, private equity – and much more.

CompensationStandards

CompensationStandards.com

The “one stop” resource for information about responsible executive compensation practices & disclosure.

Section16.net

Section16.net

Widely recognized as the premier online research platform providing practical guidance on issues involving Section 16 of the Securities Exchange Act of 1934 and all of its related rules.

PracticalESG

PracticalESG.com

Keeping you in-the-know on environmental, social and governance developments

Climate activists seeking to accelerate the transition away from fossil fuels are getting more creative. While fossil fuels companies are often in the crosshairs of NGO litigation, industries tangential to the extraction of fossil fuels are increasingly catching NGO eyes now. We’ve seen banks that finance fossil fuels projects become targets of NGO complaints. Most recently, a complaint was filed with the Organisation for Economic Co-operation and Development (OECD) against global advertiser WPP. DeSmog covers the complaint in a recent article:

“[The NGOs] charge that WPP’s work for major fossil fuel polluters like BP, Saudi Aramco and Shell, along with its work for other heavily polluting industries such as carmakers, airlines, and plastics, makes the company accountable for enabling pollution as well as human rights violations. According to DeSmog’s research, WPP — the world’s largest advertising agency by revenue — also works with TotalEnergies, as well as a number of other oil and gas clients.”

OECD decisions are not legally binding. However, a previous OECD complaint filed by ClientEarth caused BP to stop running a series of ads in 2019, so there is precedent for OECD proceedings altering company action. NGOs are likely to expand their view beyond fossil fuels companies to their business partners. It is worth knowing your company’s relationship to the fossil fuels industry and understanding reputational, business and legal risks that may arise from those relations.

Our members can learn more about climate litigation here.

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The Editor

Zachary Barlow is a licensed attorney. He earned his JD from the University of Mississippi and has a bachelor’s in Public Policy Leadership. He practiced law at a mid-size firm and handled a wide variety of cases. During this time he assisted in overseeing compliance of a public entity and litigated contract disputes, gaining experience both in and outside of the courtroom. Zachary currently assists the PracticalESG.com editorial team by providing research and creating content on a spectrum of ESG… View Profile