There is potential brewing of class action lawsuits taking place in the climate change discussion. In an article from Environmental News Network, it is reported that companies could face class-action lawsuits from shareholders if they do not accurately inform shareholders of threats from climate change.
Now, litigation is always a tricky and slow process when it comes to action on behalf of the environment, but it has been successful in the past (see CA, autmokers, the EPA, and fuel economy). If I understand Class-Action Lawsuits correctly (and the probability that I do not is very high), this could actually make sense. I'm not for the general "sue everyone all the time" mentality of the U.S., but I can see potential benefits here, like ensuring companies to address seriously threats involved in global warming beyond a simple number of pounds of CO2 released by the business.
"Renee Garner, climate change lawyer with Freehills, said increasingly savvy shareholders were wanting more information about the carbon profile of companies ahead of the carbon pollution reduction scheme...It is all well and good for a company to say this is how much they emit, but actually the material risks that arise out of the regulation, shareholders want to know that as well. If companies can sort out what those risks are now … then they will be in front."
If we can't force the companies to notice the green protesting footsoldiers, we can at least get them to hear their stockholders.
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