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Article 10/05/2023
The action taken by regulatory bodies in Australia against greenwashing has shown no signs of slowing down, with ASIC recently issuing an infringement notice to Future Super Investments Services for overstating its environmental impact in a Facebook post made in 2019. In this article, we discuss why regulators in Australia are concerned about greenwashing, recent action taken by ASIC and the ACCC as well as the impact of increased regulatory scrutiny on insurance and insurers.
Article 13/02/2023
While many articles have discussed the potential impact of the Security Exchange Commission’s (“SEC”) proposed rule on climate-related disclosures for companies, their management, and professional lines insurers with a focus on financial disclosures, there are also areas of concern for general liability insurers. The rule will essentially be the first time the SEC will require companies to formally report about climate change risks when they make public filings.
Case review 07/11/2022
Sharma by her litigation representative Sister Marie Brigid Arthur v Minister for the Environment [2021] FCA 560, the 2021 Federal Court decision which elicited a resounding hallelujah and heralded a new era of climate duty, has been overturned on appeal to the Full Federal Court.
Article 21/07/2022
Caught in the throes of an unrelenting El Nino/La Nina cycle, the Climate Council has warned that the mounting cost of natural disasters could leave 1 in every 25 properties in Australia high risk and uninsurable by 2030. In this article we explore the costs of, possible responses to and exposure lines of insurance have to climate change.
Report 13/07/2022
Our latest global report finds that the insurance industry has a central role in building wider understanding about climate-related risks and in mitigating against those risks.
Article 26/05/2022
With the increased attention to environmental social and governance (“ESG”) policies by regulators, investors and businesses, financial lines insurers are faced with the potential risks of exposure to investigation and litigation over climate-related disclosures. This article focuses on the question of whether the increased scrutiny climate-related disclosures has actually impacted the rate of greenwashing litigation filings, and how trends in greenwashing litigation may inform financial lines insurers’ assessment of these risks.
Article 21/04/2022
With the growing importance of environmental, social and governance issues, companies are starting to recruit people to senior executive positions to oversee their strategies. Pamela Kokoszka investigates if the role of chief ESG officer is here to stay, or – if like the role of chief digital officers recruited in the 2010s – will be absorbed elsewhere once ESG becomes more embedded within their employers.
Report 11/04/2022
In this report, Kennedys experts explore key legal and regulatory developments, and provide an overview of the business critical topics which motor and transport insurers should consider as they plan for operational resilience in 2022.
Article 06/04/2022
On 24 January 2022, the OEP was granted its existence in law by virtue of the Environment Act 2021. Only a day after, it released its draft strategy and enforcement policy and a period of consultation commenced in respect of them both. In this article, we set out the duties of the OEP, its proposed enforcement strategy and policy, and our initial thoughts on how effective the OEP may indeed be in its role.
Report 31/03/2022
In this report, Kennedys experts highlight some key legal and regulatory developments and provide an overview of the business critical topics that the construction sector and insurers should consider as they plan for operational resilience in 2022 and beyond.
