- Funded by an Australian Research Council Discovery Project grant (DP160100255) for 2016-2018, this project explores how corporate and securities law mechanisms can be used to incentivise private sector transition to clean energy sources and business practices. There is considerable scope for the private sector to contribute to cutting greenhouse gas emissions and transitioning energy systems to low-carbon, clean energy sources so as to avoid catastrophic climate change impacts on Australian businesses, communities and the environment. There is also increasing recognition by Australian companies across all sectors of the importance of managing risks associated with climate change. This project will evaluate how existing corporate law tools (such as reporting and disclosure requirements, shareholder actions and director’s duties) can and are being used to motivate companies to adopt clean energy practices; and whether there are options for law and governance reforms to promote greater uptake.
- Professor Jacqueline Peel
Melbourne Law School
- Professor Hari Osofsy
Dean, Penn State Law and School of International Affairs
- Professor Brett McDonnell
University of Minnesota Law School
- Dr Anita Foerster
Melbourne Law School
Senior Research Fellow
Presentation: Devising a Legal Blueprint for Corporate Energy Transition
Future of Environmental Law Symposium, Law Council of Australia, Sydney 10 March 2017.
Article: Liability for Misleading Disclosure of Climate Risk: Could US-style claims happen in Australia?
(2017) 32(3) Australian Environment Review
Presentation: Liability for Misleading Disclosure of Climate Risk: Could US-style claims happen in Australia?
National Environmental Law Conference, Melbourne, 18 November 2016
Article: Keeping Good Company in the Transition to a low-Carbon Economy
(2017) 35(3) Company and Securities Law Journal
Article: Carbon Risk Disclosure: the risk for Australian companies
Why two potential law reforms should be part of Turnbull Government's agenda; poor and misleading disclosure of climate risks facing businesses may be a looming legal issue in Australia, but there is also growing evidence it can have a positive effect on companies by encouraging the uptake of clean energy practices.
Presentation: Climate Risk Disclosure
Regulating the Energy Transition: Issues at the Intersection of Energy and Environmental Law, Oxford, 30 June - 1 July 2016
Submission: 2015 Senate Inquiry into Carbon Risk Disclosure
Climate change poses unparalleled financial, legal and physical risks to Australian businesses in all sectors. Specifically, carbon risk - including risks associated with the future regulation and pricing of carbon emissions and financial and legal risks associated with stranded carbon assets is a growing concern for the resource and finance sector. For companies, carbon risk disclosure focuses attention internally on developing strategies to manage carbon risks and to harness associated market opportunities, including accelerating investments in technological innovation and clean energy. Carbon risk disclosure is also critical to market transparency, allowing investors to use this information in their strategic decision-making. This inquiry is a timely opportunity to assess the practices of Australian companies in this area against emerging international frameworks for carbon risk disclosure, including new regulatory frameworks in leading economies such as the United States and France.