Facing the realities
The overall message was clear. Boards need to take the lead in managing the environmental, financial and liability risks to their organisations’ activities, and to mitigate the climate change risks and liabilities they could be exposed to – both corporately and in their capacity as fiduciaries. The risks are real - but speakers at the event also sounded a note of optimism: that despite the challenges, commercial opportunities exist for those with innovative solutions or an ability to harness the rapidly-emerging new economy that the global response to climate change is creating.
As the rhetoric in the public debate moves from climate change to climate emergency, the fact that the event was so well attended by delegates from such a wide range of spheres demonstrates how far the issue has risen up the corporate agenda.
Duties of care already exist today, but the standards against which companies are measured are becoming more demanding, and that will play through into liability.
- Nigel Brook, Partner, Clyde & Co
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