Skip to content Skip to sidebar Skip to footer

Directors’ Liability and Climate Risk: White Paper on Singapore

Alongside the new Chan legal opinion on directors’ responsibilities and climate change under Singapore law, the Commonwealth Climate and Law Initiative (CCLI) is pleased to publish a new white paper: Directors’ Liability and Climate Risk: White Paper on Singapore.

Authored by Dr. Ernest Lim, Associate Professor, NUS Law who is also co-author of the Chan legal opinion, the white paper complements and extends the analysis in the Chan legal opinion. The white paper explores the legal risks to directors for breaches of their duties and disclosure obligations in relation to climate change, as well as how directors’ duties can be enforced using the techniques of derivative action and oppression.

Dr. Ernest Lim explained of the legal opinion and white paper: “The legal analysis is based on evidence. As the impacts of climate change on Singapore become more visible and legislative and regulatory responses strengthen, this affects the standards of conduct directors must meet to fulfil their duties. Just last year the Monetary Authority of Singapore issued environmental risk management guidelines, setting out their expectations that directors and senior management of financial institutions should maintain oversight of environmental risk management and be assigned specific responsibilities in this regard. The legal opinion draws on these and other developments to find that climate issues are within directors’ responsibilities.”

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.

CCLI © 2022. All Rights Reserved.