Global research from the Diligent Institute and the Rock Center for Corporate Governance at Stanford University finds that the environment is directors’ largest long term worry. Central to this are sustainability concerns linked to environmental issues including climate change, pollution, waste, or recycling, which have the power to negatively impact their business over the long term.
Sustainability necessitates a focus on both the environment and climate change. As the environment impacts on people and communities, and good corporate governance minimises risks of adverse impacts, environmental, social and governance challenges and opportunities are interlinked.
The increasing complexity of environment and planning related regulation poses a great challenge for organisations across all sectors. But sustainability goes further than mere compliance – it requires organisations to adopt a holistic approach to environmental challenges, and constantly consider the impacts of the environment on the organisation itself. This is demanded not only by the law, but by the society in which organisations operate as the frequency of climate-related litigation increases.
Businesses are required to make climate related financial disclosures and consider the risks and opportunities of climate change. Using the Task Force on Climate-Related Financial Disclosures (TCFD) guidelines for climate-related disclosure, our team can help business navigate disclosure requirements and obligations.
Our responsible business team advises clients on developments in environment and planning law, emerging legal challenges faced by a broad range of businesses such as climate change litigation and other risks, and litigation associated with the principle of ecologically sustainable development, most commonly in the context of asserted non-compliance with the principle of intergenerational equity and the precautionary principle.
For further information on Corrs’ integrated responsible business approach, click here.