A group of law professors including Dr Thom Wetzer have proposed a financial mechanism they’re calling a “green pill” that would help companies reach ambitious net-zero targets and offer investors greater certainty that corporate sustainability goals will be met.
This September, the Sustainable Law Programme at the University of Oxford will establish the Climate Litigation Lab, a new initiative leveraging multidisciplinary research to inform climate change litigation efforts around the world.
The UK Centre for Greening Finance and Investment and the Oxford Sustainable Law Programme are set to launch a new workstream pinpointing what climate-related legal risk means in financial terms for companies. Dr Thom Wetzer told RI, 'It's clear that litigation risk is real - it's not some figment of an activist's imagination.'
Dr Thom Wetzer comments on a lawsuit brought by a Peruvian farmer, Saúl Luciano Lliuya, against RWE, Germany’s largest utility company. He said part of the reason for the uptick in climate litigation is the climate “governance gap The Paris Agreement lacks an enforcement mechanism to ensure that countries do what they’ve signed up for . . . As long as these governance gaps persist, we will see more and more litigation to try and plug those gaps.” There is also no net zero legislation governing what companies can or must do in most parts of the world, he adds.
The Oxford Smith School has partnered with publishing group Pearson to launch two online programmes in January 2022.The programmes will allow a global audience to access the Smith School's world leading sustainability research and teaching.
Newly-available scientific evidence, which could prove critical to the success of climate-related lawsuits, is often not produced in court, according to a new study published by the Oxford Sustainable Law Programme and Environmental Change Institute.
As the International Monetary Fund (IMF) and the World Bank Group convene their spring meetings, researchers from the Smith School of Enterprise and the Environment find that most governments' astronomical borrowing during the pandemic pays scant attention to the effects that climate change could have on their ability to repay the debt.