Article by: Heather Ruddock, Consultant, Legalwise Seminars Pty Ltd
Capital markets have moved to “green” investing. ESG reports have become first order analytics. Talk back radio is discussing what is “greenwashing”. Insurance is pricing climate risk. Areas of commercial law are being used to bring climate-related legal actions. The climate science in the August IPCC report is being tendered as evidence. At the end of this month we have the climate geopolitics of COP26 Glasgow.
What does all this mean for business and its advisers?
Here are a few questions:
Internal capability: Does your business have the internal capability to understand and act on your current and future exposure to climate risk and opportunity?
Supply chain emissions exposure: Are you more focused on your supply chain for human rights violation than for carbon emissions exposure?
ESG and greenwashing: Are you looking at your green credentials against potential misleading or deceptive conduct claims?
Reporting obligations: How good is your understanding of scope 1, 2 and 3 greenhouse gas metrics and related risks?
Mergers and acquisitions: How good are your due diligence processes in relation to climate risks and opportunities in your business deals?
Directors duties: Are your directors assuming that climate change will not intersect with the interests of the company and expose them to climate change litigation?
Commercial law actions: How familiar are you with the current strategic commercial law filings where climate is the litigation here in Australia and overseas?
Future proofing the business: Are you confident that you are managing to future proof your business against climate-related risks?
All these questions will be considered by experts at the first ever Legalwise Climate Change Law and Governance Think Global Act Local Conference on 17 November. ACC Australia members have been offered a generous discount of 30% off the registration fee, using the discount code: 2111ACC30. It’s a not to be missed one day event: face to face in Sydney, live webcast or on demand recording: Climate Change Conference