News & Analysis as of

Climate Change Breach of Duty

Cadwalader, Wickersham & Taft LLP

Cadwalader Climate - June 2024

In this week’s edition, we look at the climate-linked criminal lawsuit filed against a French oil major. We also review a survey conducted by Bloomberg Law that shows a majority of attorneys believe they will see only a...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for April 2024

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s first “Shadow Trading” trial; •SCOTUS’s...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Litigation Updates — May 2024

On March 6, 2024, the SEC issued its long-awaited climate disclosure rule, which mandates the disclosure of climate-related risks and Scope 1 and Scope 2 greenhouse gas emissions, among other things. The rule was immediately...more

A&O Shearman

First of its kind "derivative action" climate case falls at the first hurdle

A&O Shearman on

In a judgment handed down on 12 May 2023, the English High Court has refused permission for UK environmental NGO ClientEarth to continue “derivative claims” on behalf of Shell against its directors in connection with their...more

BCLP

High Court dismisses green strategy derivative claim against Shell’s directors

BCLP on

In February 2023 ClientEarth issued a derivative action against Shell’s 11 directors. ClientEarth alleged that the directors had breached their duties under the Companies Act 2006 (CA 2006) by failing to adopt and implement...more

Cadwalader, Wickersham & Taft LLP

Investors Accuse Large Asset Manager of Not Adequately Addressing Climate Risk

More than 1,400 individual investors have signed a letter asserting that a large U.S.-based asset manager is violating its fiduciary duty to mitigate climate-related investment risks....more

Mintz - Privacy & Cybersecurity Viewpoints

Preparation for 2022 Fiscal Year-End SEC Filings and 2023 Annual Shareholder Meetings

Public companies initiating the year-end reporting process will need to consider, and in many cases take steps to address, a number of significant developments and issues. To assist companies in this process, Mintz has...more

Jones Day

ClientEarth Threatens Legal Action Against Shell's Directors in England and Wales

Jones Day on

On 15 March 2022, ClientEarth announced that it had written to Shell's board of directors informing them of its intent to bring a claim on behalf of the company for the board's failure to implement a Paris Agreement compliant...more

Jones Day

Australian Court Rules Environmental Regulator is Duty Bound to Develop Climate Change Policies

Jones Day on

The Facts  In April 2020, a climate action group called Bushfire Survivors for Climate Action Incorporated ("BSCA") filed civil enforcement proceedings against the EPA in the NSW Land and Environment Court....more

Morgan Lewis

Company Directors in Singapore Urged to Consider Climate Change Risks

Morgan Lewis on

A team of independent legal counsel issued a legal opinion (the Opinion) on 14 April on Directors’ Responsibilities and Climate Change under Singapore law, concluding that directors of corporations in Singapore are obliged to...more

Jones Day

Landmark Settlement of Lawsuit Against Australian Superannuation Fund Over Climate Change Risks

Jones Day on

A major superannuation fund has promised to enhance its management of climate change risks, disclose to members how those risks are addressed and align its investment portfolios to net-zero emissions by 2050. In mid-2018,...more

White and Williams LLP

Exxon Prevails in a Major Climate Change-Related Legal Battle, But Many Questions Remain Unanswered

White and Williams LLP on

Earlier this week, the New York Supreme Court handed Exxon Mobil Corporation a resounding win following a twelve day bench trial and testimony from eighteen witnesses in the first major climate change-related lawsuit to be...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - April 2018

Bobby D. Fentress, et al, vs. Exxon Mobil Corporation, et al - "This is an Employee Retirement Income Security Act case alleging a breach of fiduciary duties in the management of a defined contribution plan. Defendants'...more

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