Class action lawsuits regarding the climate are on the rise around the world. Whether they involve flash floods, wildfires or rising tides, climate change litigation cases are becoming more the norm and some of those are related to Alberta oil sands projects. In fact, the Canadian Securities Administrators (CSA) has called for better reporting on material climate risks.
When it comes to companies, Canadian regulators have put more focus on climate change and suggest Canadian issuers realize that litigation cases could ensue regarding enforcement. Investors are also urging companies to be upfront about how climate change might affect their businesses. Investors also want to know how companies are going to handle their carbon footprints in light of the decarbonization of the economy.
Lawsuits related to the environment may also affect other areas like material risk time frames. On the upside, companies do have time to develop plans to deal with climate change and disclosure practices. Experts say companies need to look at the long-term picture and work climate change issues into their corporate plans. Doing so is the only way to best avoid environmentally-related litigation suits.
Alberta entrepreneurs who seek information on litigation practices, should seek the advice of an experienced lawyer who is experienced in protecting clients' rights through the courts. A litigation lawyer knows how to present his or her client's side of a dispute to a judge to protect a client's rights and to maximize a client's chances of getting a favourable outcome. A litigation lawyer knows how the courts work and the best way to argue a client's case before a judge.