Are shareholders the new champions of climate justice?
Institutional and private shareholders are increasingly bringing legal claims against the companies or private institutions in which they own shares (so-called shareholder litigation). Shareholders are therefore emerging as an important group of advocates in the fight against corporate impunity for climate-related harm. (...)
Unlike strategic lawsuits which attempt to attribute climate change impacts to specific companies, shareholder litigation is essentially about the assessment of climate change related financial risk. (...)
Shareholder litigation is a compelling strategy for climate accountability – one that pressures companies to pay heed to omnipresent demands to adequately address their climate impacts, including by their own shareholders.