The emergence of foreseeable biodiversity-related liability risks for financial institutions: A gathering storm?
This report by the Commonwealth Climate and Law Initiative seeks to provide guidance on the nature and extent of litigation and legal risks that should be considered in determining the potential materiality of biodiversity. It proposes a framework by which biodiversity-related legal liability risks should be considered by financial sector supervisors and participants .
The framework takes a broad view of biodiversity-related liability risks and provides general commentary on the circumstances and actors where it is likely to present heightened concerns.
It argues that biodiversity-related liability exposure are not limited to prevailing categories of 'environmental' law claims, but drawing from legal developments on other risk issues highlights potential exposures under environmental, commercial, tort and other laws.
Barker, Sarah, Ellie Mulholland and Temitope Onifade (2020) The emergence of foreseeable biodiversity-related liability risks for financial institutions: A gathering storm?. Commonwealth Climate and Law Initiative