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

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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

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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

The U.S. isn’t the only country where climate drama is playing out in the courtroom. Countries around the world are grappling with how their legal systems handle climate-related claims. In New Zealand, the Supreme Court ruled in February 2024 that climate-related tort suits could move forward. Now the legislature is fighting to restrict such cases, floating amendments to New Zealand’s Climate Change Response Act 2002 that would make such suits impossible. A recent Russell McVeagh memo gives details:

“The Government announced yesterday morning that it intends to amend the Climate Change Response Act 2002 to prevent the courts from finding liability in tort for climate change damage or harm caused by greenhouse gas emissions. This bar will apply to both current and future claims before the courts.

In the announcement, Justice Minister Paul Goldsmith referenced the 2024 Supreme Court decision Smith v Fonterra, which had determined that a claim against six major companies could proceed to trial. The case was the first to be brought in New Zealand seeking to hold private parties liable in tort for damage caused by climate change.”

As I noted in yesterday’s blog, the U.S. is expecting an opinion on this matter from our own Supreme Court this summer. If that opinion goes the way of the plaintiffs, then we’ll likely see lawmakers attempt similar legislation to limit cases in the U.S. Senator Ted Cruz of Texas has already proposed such legislation, though political will may not galvanize around the ban until after the Supreme Court issues its opinion. New Zealand is typically thought of as more climate-friendly than the United States, so a law banning climate suits there would not bode well for potential plaintiffs here. However, the U.S. has a long and strong history of being extremely litigious. Legislating against civil actions isn’t unheard of, but it is unpopular.

Our members can learn more about ESG 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