1. Causes of Action

7. POTENTIAL FUTURE APPLICATIONS

In the 17 focus countries, potential legal avenues for using company and financial laws in climate and environment-related claims demonstrate a diverse and evolving global landscape for climate litigation. In Australia, Brazil, Norway, Netherlands, India, Philippines, Kenya, Nigeria, and the United Kingdom, company laws could play an integral role in bringing climate-related claims before respective domestic courts. Although most of these countries have not yet seen cases based on these laws, each of their domestic legislation has laid a foundation based on shareholder activism and directors' liabilities within their fiduciary duties to disclose climate-related risks to bring such claims. Germany, France, Italy, and the Netherlands have the potential to bring more cases based on relevant provisions in their respective civil codes, which are in line with the regional EU directives.

In the case of Canada, there is potential based on the proposed National Instrument 51-107, which aims to standardize climate-related disclosures in 2024. Kenya's climate considerations in company and financial laws give potential to cases to be brought on non-disclosure of climate impacts, and corporate responsibility towards the environment. Nigeria CAMA has the potential to bring cases based on the liability of directors to disclose, assess, and report climate-related risks. Philippines' Revised Corporation Code establishes liabilities for corporate torts, holding corporations and stockholders personally liable for violations contributing to climate change impacts. It also serves as a basis for legal action against directors who can be held jointly and severally liable for damages resulting from patently unlawful acts, gross negligence, or bad faith. Similarly, in the United Kingdom, regulatory frameworks shape procedural obligations for climate disclosure, and recent cases like ClientEarth v. Shell's Board of Directors demonstrate challenges in holding directors personally liable. In the United States, ERISA claims, shareholder actions, and cases related to greenwashing and material misstatements showcase the diverse legal landscape in the U.S. for climate-related claims.