Recent and upcoming developments underscore the need for public companies, and their directors and officers, to consider whether they may have exposure to a newly emerging source of disclosure-related litigation.
There is a growing, organized effort on various fronts to get every public company to voluntarily disclose information about its “carbon footprint” and about the other ways in which climate change may affect its business in the future. As discussed below, not only are significant investor groups demanding this information, but the peer pressure to make voluntary climate change-related disclosures is also becoming strong enough to get the attention of public companies across all sectors. If your company is beginning to discuss the possibility of making voluntary disclosures, or is already making them, there are potential liabilities — and directors’ and officers’ liability insurance coverage issues — to consider.
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