Commonwealth Climate and Law Initiative (CCLI)

🆕 The Navigator on Directors' Duties: Climate Risk and Sustainability Disclosures is now live on the Climate Governance Initiative hub! This is the fourth edition of the previously-titled 'Primer on Climate Change: Directors' Duties and Sustainability Disclosures', authored by the Commonwealth Climate and Law Initiative (CCLI) with support from lawyers around the world, in collaboration with the Climate Governance Initiative. The Navigator covers over 30 jurisdictions. It is a comprehensive tool for directors and lawyers to understand the legal and regulatory context around climate change in their jurisdiction, and sets out key information informing how directors and officers manage climate-related risks. This includes information on: 1️⃣ Government and regulatory approaches to climate change, including climate-related legislation and guidance; 2️⃣ Directors’ duties in relation to climate change, specifically how these duties and company and securities law frameworks require directors and officers to incorporate climate risk in corporate strategy, governance and management; 3️⃣ Sustainability and climate-related disclosure requirements, both narrative and financial, and directors’ duties and responsibilities in relation to them; 4️⃣ Liability risks for companies, directors and officers who fail to comply with the above; and 5️⃣ Practical tips for directors. Certain jurisdictions also include a 'Biodiversity Risk' box, which addresses the information above but in relation to nature-related risks. The Navigator can currently be found on the Climate Governance Initiative hub here: https://lnkd.in/ef7ZybYx but will be made available in pdf form on our website in the coming weeks, and more substantive updates will be made across all jurisdictions in 2025. Thank you to all the contributing authors from around the world, and the CGI Chapter Zero members, for their valuable contributions and support. 

🔊Our latest INSIGHTS interview is live! ❓Ever wondered what investors expect from boards in relation to #nature❓ 🌿CCLI biodiversity lawyer, Jasmin Fraser, spoke to Rachel Crossley, Head of Stewardship, Europe at BNP Paribas Asset Management about their expectations from boards in managing nature-related impacts, risks and disclosures. 💡 Some key takeaways: 👉 Boards are expected to develop a strong understanding of the dependencies and impacts of the business on nature across its entire value chain. 👉  Boards must also consider whether and how to update their climate commitments considering the new information about nature-related risks and opportunities. 👉 Boards should embed metrics within executives’ remuneration plans that align to the delivery of these targets and plans. 👉 Board members should receive expert training to ensure that they can deliver on their responsibilities in relation to nature. Learn about some emerging best practices for companies to address #nature risks, the importance of disclosure and quantitative data on sustainability for investors, and use of proper technologies and methodologies to measure corporate impacts and dependencies on nature. The full interview is linked in the comments 👇 #corporategoverance #sustainability #esg #responsibleinvestment #financialrisk #directorsduties Victoria Puxley Natalie Shippen Sarah Hill-Smith Param Pandya Klara Iochem Jenni Ramos Zaneta Sedilekova Photo 1 -Daniel J Schwarz via Unsplash Photo 2 - Dave Hoefler via Unsplash Photo 3 - Simon Berger via Unsplash

📣 Climate & Biodiversity lawyer Victoria Puxley will be attending The Economist Impact's Sustainability Week Africa on 24-25 October 2024 in #CapeTown. 🌱 📨 Do not hesitate to reach out to Victoria if you are attending and would like to meet up! #EconSustainability #CorporateGovernance #Sustainability #ClimateRisk

🌏 The Commonwealth Climate and Law Initiative (CCLI) recently published the fourth edition of our Navigator on Directors' Duties: Climate Risk and Sustainability Disclosures, in collaboration with the Climate Governance Initiative. This practical tool covers the legal and regulatory context around climate change in over 30 jurisdictions. 🔦 This week, the spotlight is on #India. 🔦 ➡️ What are key practical considerations for #directors under #Indianlaw in relation to #climateresilience and biodiversity risk management? Our analysis found that well-counselled board will: ✅ Delegate #climate and #biodiversity #risk identification and evaluation to a clearly identified team in management which reports directly to the CEO and board; ✅ Put on the board's agenda as a matter of priority a process to start developing a #climatetransition roadmap to 2070 with transparent carbon neutrality or reduction targets, to be periodically reviewed; ✅ Delegate to the appropriate committee(s) i.e. risk, audit, legal and governance, scenarios/strategy, nominations/remuneration, or sustainability/corporate responsibility - the task of translating the long-term strategy into a clear decision-making process for relevant aspects; ✅ Set a climate and biodiversity-conscious ‘tone at the top’ and oversee #climatestrategy and the implementation of #riskmanagement and mitigation processes; ✅Seek information from management on material climate and biodiversity risks and related policy initiatives, and participate in #ESG capacity building and training programmes; ✅Discuss with #disclosure counsel, to develop an external engagement and communications plan and oversee rigorous disclosure and accounting; and ✅Use the Securities and Exchange Board of India (SEBI)'s Business Responsibility and Sustainability Reporting (BRSR) assessment and disclosure process as a climate consciousness check and include goals for any shortfalls identified and/ or “leadership indicators” (which include biodiversity-related indicators). Many thanks to Cyril Amarchand Mangaldas Partner Anchal Dhir, Senior Associate Aman Deep Borthakur and Associate Kriti Jain, Umakanth Varottil of the National University of Singapore and CCLI Biodiversity & Climate lawyer Param Pandya for contributing to the India section. #directorsduties #corporategovernance #climaterisk #sustainabilityreporting

📢 The Commonwealth Climate and Law Initiative (CCLI) Climate & Biodiversity lawyer Victoria Puxley will be a guest speaker at the Centre for Environmental Rights and the Institute of Directors South Africa's launch event for their latest legal opinion analysing #directors duties and #liability for #climaterisk under South African law. 📆 Join us on Wednesday 23rd October, 12:30-14:30 (SAST) to hear from Victoria about global trends in #DirectorsDuties and #ClimateChange, and from other distinguished panellists including: 🟨 Keynote address from Adv. Sandile Khumalo SC, advocate at the Johannesburg Bar and co-author of the legal opinion; 🟩 Leanne Govindsamy & Zahra Omar (Lawyers, Centre for Environmental Rights): Analysis and Key Findings of the Legal Opinion; 🟩 Ansie Ramalho (King Committee Chair and Governance Specialist, @ Institute of Directors in South Africa): Reflections on Corporate Governance and Climate from the King Committee; 🟩 Nomatter Ndebele (Communications Coordinator, Centre for Environmental Rights): Moderator   You can join the event via Zoom here: https://lnkd.in/dK8kEDvr or email zomar@cer.org.za if you would like to attend in person. #SouthAfrica #corporagovernance #sustainability #ESG

📢 The Commonwealth Climate and Law Initiative (CCLI) is delighted to welcome Natalie Shippen as our new Executive Director! Natalie will be leading CCLI’s ongoing work to synthesise the existing legal duties of directors and trustees to act in a climate and nature-impacted global economy. She joins CCLI with over a decade of experience in the environmental law space spanning the public, private, non-profit and academic sectors.  The CCLI team would like to sincerely thank Cynthia Williams, our outgoing Executive Director, for her wonderful leadership and vision during her tenure. Cynthia remains on the board of CCLI and will be concentrating on the organisation's work in the US. Please join us in wishing Natalie a warm welcome!

❓What is the scope of directors' duties in relation to climate and nature risks?❓ In our latest💡Insights💡interview, Victoria Puxley speaks to Zaneta Sedilekova and Catherine Higham about the implications of the Grantham Research Institute on Climate Change & the Environment's latest climate litigation report for directors' duties. 👇 The link is included in the comments below 👇 #directorsduties #corporategovernance #sustainability #climaterisk #naturerisk

🔊Our latest INSIGHTS interview is live! 🔊 🌱 CCLI biodiversity lawyer Victoria Puxley spoke to Catherine Higham who co-authored the Grantham Research Institute on Climate Change & the Environment's Global Trends in Climate Litigation 2024 Snapshot and to Zaneta Sedilekova (Founder, Planet Law Lab) for their insightful takes on climate litigation trends and the implications for director liability. 👇 Full interview linked in the comments below #directorsduties #corporategoverance #sustainability #esg

⚠️ Are directors obliged to consider their company’s nature related risks? 🌏 In March this year, a legal opinion was published confirming that directors in England and Wales who fail to consider, mitigate and where necessary disclose nature-related risks may be breaching their legal duties. Commonwealth Climate and Law Initiative (CCLI) lawyer Jasmin Fraser explores the legal opinion’s implications for directors in the UK and around the world for the Global Association of Risk Professionals (GARP). 💸 Jasmin explains how nature-related risks are relevant both to the short and long term success of companies as they have been found to fall within existing financial risks categories. 🌳 Some practical implications include reporting and disclosure obligations imposed for material nature-related financial risks to the company and its relevant impact on nature. 👇 Link to the full piece in the comments below

📢 Don’t miss it! Towards Net Zero Conference: Legal Aspects of Corporate Climate Action in Asia is the first conference in Asia bringing together top legal minds, business leaders, investors, regulators and academics to address the challenges and opportunities of corporate climate action! ⚖️ 🌳 ➡️ Register here: https://bit.ly/nus-netzero 💡 Join us to get invaluable insights on the pressing legal challenges of climate action from CCLI Board Members Cynthia Williams (Indiana University Maurer School of Law), Sarah Barker (Pollination Law) and Ernest Lim (NUS Faculty of Law) amongst many other distinguished speakers - including former Justice of the UK Supreme Court Lord Carnwath. 📅 Date: 17 October 2024 ⏰ Time: 9:30 AM – 5:15 PM (SGT) 📍 Venue: The Westin Singapore 🎓 SILE accredited for 5.5 CPD points ❇️ Conference program ❇️ 1️⃣ Panel discussing directors’ duties in relation to climate-related risks, including CCLI Board Member Sarah Barker (Pollination Law), Shyam Divan LAWASIA (The Law Association for Asia and the Pacific), Tina Mavraki CFA (Mytilineos Holdings SA), Michael Tang (SGX RegCo) and moderated by Umakanth Varottil (NUS Faculty of Law) 2️⃣ Panel discussing the latest developments in corporate climate litigation including Lord Carnwath (Former Justice of the UK Supreme Court), Rajiv Lall (Singapore Management University), Peter Barnett (Quadrature Climate Foundation), Joana Setzer (Grantham Research Institute on Climate Change & the Environment), Sean Tseng and moderated by Jolene Lin (NUS Faculty of Law). 3️⃣ Panel exploring investors’ duties including strategic asset management and the impact of climate change on long-term market capital assumptions, including CCLI Board Member Cynthia Williams (Indiana University Maurer School of Law), Dilhan Pillay (Temasek), YK Park (AFP INTERNATIONAL ASSET MANAGEMENT ADVISORS SL), Ghislaine Nadaud (Robeco) and moderated by CCLI Board Member Ernest Lim (NUS Faculty of Law). #ClimateLiability #NetZero #CorporateSustainability #DirectorsDuties #InvestorsDuties #ESG