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Biodiversity Risk: Legal Implications for Companies and their Directors

Our brand new report authored by Jennifer Ramos and Zaneta Sedilekova ‘Biodiversity Risk: Legal Implications for Companies and their Directors’ explains that in order to discharge their duties and disclosure obligations, directors can ensure that risk management processes assess foreseeable biodiversity dependencies and impacts of the company for materiality and measure those that are material,…

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Momentum is gathering for the international biodiversity negotiations

On 7 December 2022, world leaders will meet in Montreal, Canada for the second round of the 15th Conference of Parties (COP15) to the Convention on Biological Diversity (CBD) to agree on the final text of Global Biodiversity Framework (GBF), an agreement with an ambitious goal to reverse global biodiversity loss. As the world enters…

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New legal opinion cautions Philippine company directors to take climate change seriously or risk liability for gross negligence

28 November 2022, London – Directors of Philippine for-profit corporations must take into consideration climate change-related risks in the discharge of their fiduciary duties of obedience and diligence to fulfil their companies’ long-term legal, economic, moral and social obligations towards their shareholders and other stakeholders. Directors must do so in order to abide by the…

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Round-up of biodiversity day at COP27 (16 November 2022)

On 16 November 2022, the focus at COP27 shifted to issues relating to biodiversity, paving the way for the UN Biodiversity Conference (COP15) which is due to take place between 7 and 19 December 2022 in Canada. Key developments of the day included the launch of the Enhancing Nature-based Solutions for Climate Transformation initiative which…

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Transition Plan Requirements- Mapping the net-zero transition

A year on from its announcement at COP26, and with the eyes of the world on Egypt’s COP27,  the UK Transition Plan Taskforce (TPT) published its Disclosure Framework and related Implementation Guidance yesterday (8 October 2022). The UK Government has stated that it intends to require listed companies, asset managers and regulated asset owners to…

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World Energy Outlook 2022 – three scenarios for the energy transition

The International Energy Agency (IEA) advises fossil fuel producing nations on energy policy and  produces annual analysis and predictions on energy consumption, production and policy which are regarded as influential by governments and companies. On 27 October, the IEA published its World Energy Outlook 2022 (WEO 2022), its most authoritative source of analysis and projections. …

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Trade offs in corporate governance and balancing directors duties on the climate–biodiversity–society nexus

Jenni Ramos, Alex Cooper and Zaneta Sedilekova explore how the interconnection between climate, biodiversity and just transition impacts on the performance of director’s duties. Last month the World Biodiversity Summit (part of New York Climate Week) convened to explore joint solutions to the biodiversity and climate crises. With COP27 in November (featuring a day on…

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Climate Change Disclosures – What board directors need to know

Climate-related disclosures are becoming increasingly more common. Several jurisdictions have begun to mandate them, while many others require them on a 'comply or explain' basis and have plans to start mandating them in the coming years. This briefing gives an overview of the importance and relevance of climate-related disclosures to board directors, including a detailed…

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IPBES ‘Methodological Assessment of the Diverse Values and Valuation of Nature’

The independent intergovernmental biodiversity advisory body called Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) has published its Assessment Report on Diverse Values and Valuation of Nature.   Jennifer Ramos, our corporate/finance and biodiversity lawyer, and Zaneta Sedilekova, our biodiversity consultant, summarise points from the report which are relevant for commercial and environmental lawyers in…

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Primer on Climate Change: Directors’ Duties and Disclosure Obligations -2nd Edition

The Commonwealth Climate and Law Initiative (CCLI) has worked with the Climate Governance Initiative (CGI) to produce the second edition to the Primer on Climate Change: Directors’ Duties and Disclosure Obligations. The Primer provides an overview of contemporary evidence that climate change presents foreseeable, and in many cases material, financial and systemic risks that…

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The development of the ISSB sustainability standards: What does it mean for directors’ legal duties?

The IFRS Foundation's International Sustainability Standards Board (ISSB) released two Exposure Drafts of proposed sustainability standards on 31 March 2022. These propose disclosures on climate-related financial risks, both as narrative disclosures and in a company's financial statements. In this white paper, Dr. John Purcell FCPA, formerly CPA Australia’s policy adviser for Environmental, Social and…

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Legal Opinion on Directors’ Duties and Disclosure Obligations under Malaysian Law in the context of Climate Change Risks and Considerations

Directors of Malaysian companies are legally required to incorporate climate change considerations into their decision-making processes, according to a new legal opinion dated 22 July 2022. A failure to do so may be a breach of a director’s legal duties and could expose them to litigation from shareholders or enforcement action from the regulatory authorities.…

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Commonwealth Climate and Law Initiative
The CCLI examines the legal basis for directors and trustees to consider, manage, and report on climate change and broader environmental risks, opportunities and impacts, and the circumstances in which there may be liability for failing to do so. We also work to advance knowledge on effective sustainable governance practice.
Contact

The Commonwealth Climate and Law Initiative is a company limited by guarantee registered in England and Wales with company number 11813153 and with registered office at 128 City Road, London, United Kingdom EC1V 2NX.

Commonwealth Climate and Law Initiative

The CCLI examines the legal basis for directors and trustees to consider, manage, and report on climate change and broader environmental risks, opportunities and impacts, and the circumstances in which there may be liability for failing to do so. We also work to advance knowledge on effective sustainable governance practice.

Contact

The Commonwealth Climate and Law Initiative is a company limited by guarantee registered in England and Wales with company number 11813153 and with registered office at 128 City Road, London, United Kingdom EC1V 2NX.

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