Climate risk assessments must engage with the law

Author:

Wetzer Thom12,Stuart-Smith Rupert1,Dibley Arjuna134

Affiliation:

1. Oxford Sustainable Law Programme, Smith School of Enterprise and the Environment, University of Oxford, Oxford, UK.

2. Faculty of Law, University of Oxford, Oxford, UK.

3. Sustainable Finance Hub, Melbourne Climate Futures, University of Melbourne, Melbourne, Australia.

4. Melbourne Law School, University of Melbourne, Melbourne, Australia.

Abstract

Legal actions determine the allocation and magnitude of climate-related financial risk exposures

Publisher

American Association for the Advancement of Science (AAAS)

Reference14 articles.

1. Task Force on Climate-related Financial Disclosures (TCFD), Recommendations of the Task Force on Climaterelated Financial Disclosures (TCFD, 2017).

2. J. Setzer C. Higham “Global trends in climate change litigation: 2023 snapshot” (Grantham Research Institute on Climate Change and the Environment and Centre for Climate Change Economics and Policy London School of Economics and Political Science 2023).

3. National Association of Attorneys General (NAAG), Payments to States since Inception through April 20 2023 (NAAG, 2023).

4. M. Carney “Breaking the tragedy of the horizon—Climate change and financial stability” (Bank of England 2015); https://www.bankofengland.co.uk/-/media/boe/files/speech/2015/breaking-the-tragedyof-the-horizon-climate-change-and-financial-stability.pdf.

5. NGFS “Report on micro-prudential supervision of climate-related litigation risks” (NGFS 2023); https://www.ngfs.net/sites/default/files/medias/documents/ngfs_report-on-microprudential-supervision-ofclimate-related-litigation-risks.pdf.

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