As the climate debate continues, researchers say there will be a significant increase in the number of lawsuits brought against fossil fuel-creating companies.
In the new study, it was found that lawyers are commonly failing to use the most up-to-date scientific climate research to back their claims, meaning the cases often fail.
But as evidence linking particular weather events to increasing carbon emissions continues to develop, experts say we will see more and more successful compensation claims.
Whilst there have been some notable climate-related lawsuits..there have only been a few successful cases where compensation is sought for damages caused by climate change linked to human activity.
Oil, gas, coal and other emissions producers are aware of the legal moves to lean on advanced science to prove responsibility… and they are worried.
Researchers say that the cases “seem to have merit and have a chance of success and the risk perception of investors in the fossil fuel industry could quite rapidly change so that emissions could one day be seen as liabilities”.
What’s the hold up in China?
China’s long-awaited national carbon market is set to miss the government’s target to have trading underway by the end of June.
It’s unclear when the system will begin operating, a spokesperson with the Shanghai Environment and Energy Exchange says that trading won’t now happen until after July 1 because of a lack of organisation, according to a person familiar with its development.
It’s unclear how long the start will be delayed, according to the person.
It’s a fresh set-back for what will be the world’s largest carbon market, in terms of greenhouse gas emissions covered.
