Principles on Climate Obligations of Enterprises

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Climate change is the most important challenge humankind ever faced. GHG emissions must be reduced at great pace and to a significant extent to keep global warming below fatal thresholds. This can only be achieved if the obligations of major players are sufficiently clear. The Principles on Climate Obligations of Enterprises’ main focus is on the obligations of enterprises. They identify the reduction obligations, and articulate a series of related obligations. The Principles aim to provide a legal basis for active investment management and engagement geared at stimulating enterprises to comply with their legal obligations.

This edition also contains obligations of accountants, credit rating agencies, (re)insurers and attorneys. An extensive commentary explains the Principles and their legal underpinning. The members of the Expert Group are: Jaap Spier, Bastiaan Kock, Brian J. Preston, Daniel Witte, Thomas Pogge, Philip Sutherland, Yann Aguila, Joerg Fedtke, Miquel Martin Casals, Qin Tianbao, Eva Schulev-Steindl, Jim Silk, Jessica Simor, and Elisabeth Steiner.

The principles, as now updated, can be taken as a fair indication as to how the law stands or is likely to develop. Lord Carnwath, former Justice of the UK Supreme Court