Earlier this year, environmental law charity ClientEarth announced the first UK climate-based shareholder derivative action, seeking to hold a board of directors accountable for alleged deficiencies in their emissions reduction strategy. The claim fell at the first hurdle, the High Court refusing it permission to proceed on the papers – albeit ClientEarth will now have a second bite at the cherry in an oral hearing. This In Practice article considers the lessons learnt for future climate-related claims and the potential impact for the financial services sector.
1 AUG 2023The authors look at the progress made to date by the UK government in implementing climate-related disclosure rules and consider the preparatory steps that organisations should take ahead of the inevitable introduction of additional disclosure requirements.
1 DEC 2022