#clientearth

[rjzimmerman]

Shell Directors Sued by ClientEarth for Breach of Climate Duties - EcoWatch

ClientEarth is not only a nonprofit environmental law organization — it has also been a shareholder in the Shell oil company since 2016. Now, ClientEarth is suing Shell’s 13 directors and holding them personally and legally responsible for failing to devise a strategy to prepare the company for net zero emissions.

Excerpt from this story from EcoWatch:

ClientEarth is not only a nonprofit environmental law organization — it has also been a shareholder in the Shell oil company since 2016. Now, ClientEarth is suing Shell’s 13 directors and holding them personally and legally responsible for failing to devise a strategy to prepare the company for net zero emissions, which it says is a breach of their duties under the UK Companies Act.

The Companies Act requires that directors exercise reasonable care, skill and diligence and act in a way that would be most likely to promote the company’s success “for the benefit of its members as a whole.”

If the lawsuit succeeds, Shell’s board of directors could be forced to take specific steps to be in alignment with the 2015 Paris agreement, which has a goal of limiting global heating to less than two degrees Celsius by cutting fossil fuel emissions, reported The Guardian.

“Shell is seriously exposed to the physical and transitional risks of climate change, yet its climate plan is fundamentally flawed,” said Paul Benson, a lawyer for ClientEarth, as Fortune reported. Benson went on to say that if Shell is promising to adhere to the Paris agreement but not actually doing so, “then there is a risk of misleading investors and the market at large.”

According to Fortune, ClientEarth has been a shareholder in Shell in order to have voting rights and obtain investor information about the company.

ClientEarth said it was inviting other shareholders to join the lawsuit, reported The Guardian. A windfall of $19 billion in profits for the oil company in 2021 may make some shareholders reluctant, however. Shell announced last month that they intend to buy back shares, which increases the value of those in the hands of the remaining shareholders.

[moneymasteryhubonline]

ClientEarth hires first Asia fundraiser | News | Eco-Business

ClientEarth has hired its first dedicated fundraising lead for Asia. Joining the environmental law charity from climate finance think tank Carbon Tracker is Mirabella Pulido, who will lead regional fundraising efforts based in London. ClientEarth launched in Asia in 2016, focusing on training China’s Ministry of Ecology and Environment and the Supreme People’s Court in environmental law…

[7wo7rees]

Our work | ClientEarth

At ClientEarth, we use our unique expertise in corporate, finance and securities laws to hold US corporations directly accountable for their

David Gilmour is 79 today.

[agnickradio]

Επικυρώθηκε ο Κανονισμός για την αποκατάσταση της φύσης

Ιστορική νίκη για την ευρωπαϊκή φύση! Τη Δευτέρα, 17 Ιουνίου, έπειτα από αγωνιώδεις συζητήσεις, το Συμβούλιο των Υπουργών Περιβάλλοντος ενέκρινε τον Κανονισμό για την Αποκατάσταση της Φύσης, δίνοντας αίσιο τέλος σε μια μακρά και επίπονη νομοθετική διαδικασία. Continue reading Επικυρώθηκε ο Κανονισμός για την αποκατάσταση της φύσης

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[faultfalha]

The court of the United Kingdom's decision was a shock, and it seemed to herald a new age of uncertainty and dismay. Its verdict was tucked away neatly between the grey stone facades of the courts, as if it had never been uttered aloud. On the surface, justice seemed to have been served, but those who kept vigil in the heart of darkness knew that something else was brewing. The sky was afire with seething, terrible clouds, as if stormy days had been left behind in favour of unruly nights. The wind howled down the empty streets, carrying with it the faint echo of a distant thunder. In its passing, the air held an ancient promise - a warning of the consequences of that judgement, a reminder of the uphill battle yet to be faced. The fear ran deep, yet the truth remained the same - the cause was far from lost, and the fight for justice would rage on regardless. Its flames might have been snuffed that day, but like the Phoenix, they would rise from the ashes, and be just as bright.

[faultfalha]

A group of activists in the United Kingdom attempted to sue Shell Oil for damages related to climate change, but their case was dismissed by a UK court. In a statement, the Shell spokesman said "We are pleased that the UK court has dismissed this case. We have always maintained that this case was without merit and we are confident that we will be vindicated." This is a major blow to the activists, who hoped to use the courts to hold fossil fuel companies accountable for their role in climate change.

[bauerntanz]

Klage gegen EU-Greenwashing

UmweltschützerInnen klagen vor dem Europäischen Gerichtshof (#EuGH) gegen #Greenwashing von #Erdgas und #Atomenergie durch die #EU_Kommission.

Die Umweltorganisationen ClientEarth, Transport & Environment (T&E), der BUND und das Brüsseler Europa-Büro des WWF und andere haben am Dienstag vor dem Europäischen Gerichtshof in Luxemburg zwei Klagen gegen die Einstufung von Erdgas und Atomkraft durch die Europäische Union in der EU-Taxonomie als “nachhaltige” Energieformen eingereicht.  Der zweite delegierte Rechtsakt der EU-Taxonomie hatte…

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[thoughtlessarse]

Shell directors personally sued over ‘flawed’ climate strategy

Claimants ClientEarth say the oil company’s plan puts the company at financial risk as the world transitions to clean energy

The directors of oil major Shell are being personally sued over their climate strategy, which the claimants say is inadequate to meet climate targets and puts the company at risk as the world switches to clean energy. Environmental lawyers ClientEarth have filed the lawsuit against the 11 directors at the high court in England. It is the first case in the world seeking to hold corporate directors liable for failing to properly prepare their company for the net zero transition, ClientEarth said. ClientEarth, which has a token shareholding in Shell, is suing under the UK Companies Act, and is supported by a group of large pension funds and other institutional investors. It argues a global transition to low-carbon energy is inevitable as world governments act to end the climate crisis and that Shell’s failure to move fast enough threatens the company’s success and would waste its investors’ money on unneeded fossil fuel projects. Shell recently announced a record annual profit of $40bn (£33bn), driven by the high energy prices resulting from Russia’s war in Ukraine. But, as climate litigation increases across the world, the company has suffered a flurry of recent legal and regulatory challenges. These include a Dutch court order to cut emissions from its oil and gas by 45% by 2030 and a claim that Shell is investing less in green energy than it says.

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