- Prof. Jacqueline Peel, Melbourne Law School
Expert Panel on Super Funds, Climate, and the Law Melbourne, 22 August 2018
Prof. Jacqueline Peel, Melbourne Law School Expert Panel on Super - - PowerPoint PPT Presentation
Prof. Jacqueline Peel, Melbourne Law School Expert Panel on Super Funds, Climate, and the Law Melbourne, 22 August 2018 OVERVIEW 1. Emergence and growth of climate litigation 2. Global trends in climate litigation 3. Situating the REST case
Expert Panel on Super Funds, Climate, and the Law Melbourne, 22 August 2018
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brought before administrative, judicial and other investigatory bodies that raise issues of law or fact regarding the science of climate change and climate change mitigation and adaptation efforts.
more peripheral issue
disclosure, improving regulation, recovering loss
3 https://www.greenbiz.com/article/are-countries-legally-required-protect- citizens-climate-change
in other jurisdictions
pathways, esp. in US
increasing interest in suits against corporate actors
mitigation but emerging body of cases on adaptation issues
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Implementation, and Potential Implementation Action
State Environmental /Energy Law
US
Cedars v. Karan )
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coal mines
impacts, especially coastal
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violated duty of care to citizens through inadequate emissions reduction targets
fundamental constitutional rights including the right to life due to adaptation failures
assessment to include climate change for prospective coal plant
government to present action plan to reduce deforestation in Amazon region
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fiduciary duties especially around disclosure of climate business risk
culture, accelerated by Paris Agreement, to view climate change in financial risk terms
Recommendations (June 2017)
barristers supporting potential liability
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http://www.smh.com.au/environment/climate-change/ailing-coal-giant-peabody- reaches-settlement-over-misleading-climate-comments-20151109-gkusyh.html
CC poses material financial risks to bank’s business that should have been disclosed to investors
subsequent CBA annual report acknowledged climate as material financial risk and promised to undertake climate scenario analysis of business
Carmichael mine
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litigation
sector actors: institutional investors (super and pension funds)
laws for climate purposes
jurisdictions e.g. ClientEarth letters warning of legal action against 14 of UK’s biggest pension funds
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http://www.abc.net.au/news/2018-07-25/mark- mcveigh/10030602
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