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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

A quick disclaimer here: I was only able to access/read the abstract – so I leave it to others to opine on in depth legal implications of what the authors claim in the whole of the paper.

A new peer-reviewed paper Carbon majors and the scientific case for climate liability was published in Nature that – if its findings become widely accepted – will drastically change the legal risk landscape for companies emitting greenhouse gases:

“Using scope 1 and 3 emissions data from major fossil fuel companies, peer-reviewed attribution methods and advances in empirical climate economics, we illustrate the trillions in economic losses attributable to the extreme heat caused by emissions from individual companies… Drawing quantitative linkages between individual emitters and particularized harms is now feasible, making science no longer an obstacle to the justiciability of climate liability claims.”

Wow. This could be huge, but we’re a long way off from seeing these claims going to – or being upheld in – court. There will no doubt be much controversy surrounding the paper from both the scientific and legal communities. It is still worth keeping on your radar screen though.

Our members can learn more about climate liability here.

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The Editor

Lawrence Heim has been practicing in the field of ESG management for almost 40 years. He began his career as a legal assistant in the Environmental Practice of Vinson & Elkins working for a partner who is nationally recognized and an adjunct professor of environmental law at the University of Texas Law School. He moved into technical environmental consulting with ENSR Consulting & Engineering at the height of environmental regulatory development, working across a range of disciplines. He was one… View Profile