Our Publications
Life, Health, Property, Casualty: Canadian Insurance Company Directors and Effective Climate Governance
The insurance sector is important because it provides the financial safety net for many Canadians suffering losses associated with climate impacts. Insurance coverage is the guarantee that policyholder losses will be indemnified; yet climate-related weather events are growing in severity and frequency. Severe weather damage in Canada caused $2.4 billion in insured losses in 2020, […]
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Directors’ Duties Regarding Climate Change in Japan
Authored by Dr. Yoshihiro Yamada, Vice Dean of College of Law at the Ritsumeikan University, Dr. Janis Sarra, Professor of Law at the University of British Columbia, and Dr. Masafumi Nakahigashi, Vice-President at Nagoya University, the report outlines the three primary duties for directors of Japanese companies: duty of loyalty; duty to be compliant with […]
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Duty to Protect: Corporate Directors and Climate-Related Financial Risk
Amid growing calls from regulators, financial standard organizations and institutional investors, Canadian corporations face pressure to adopt transparent climate-risk reporting. But first, they need greater clarity on the metrics and standards involved. Author Janis Sarra recommends that Canada clarify and adopt mandatory uniform reporting on climate metrics and finance, so that corporate officers and directors […]
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Audit Committees and Effective Climate Governance, A Guide for Boards of Directors
Authored by Dr. Janis Sarra, Professor of Law at the University of British Columbia, with contributing authors Meghan Harris-Ngae, Ernst & Young, Roopa Davé, KPMG, and Ravipal Bains, McMillan LLP, this guide draws together current legal standards and best practice guidance for Canadian audit committees, to assist them in taking a leadership role in effective […]
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‘Troubling Incrementalism’: Is the Canadian Pension Plan Fund Doing Enough to Advance the Transition to a Low-carbon Economy?”
A new legal analysis released by the Canada Climate Law Initiative “’Troubling Incrementalism’: Is the Canadian Pension Plan Fund Doing Enough to Advance the Transition to a Low-carbon Economy?” finds that the CPP’s approach to managing the financial risks of climate change may not be consistent with the best interests of Canadian beneficiaries and contributors. […]
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The emergence of foreseeable biodiversity-related liability risks for financial institutions: A gathering storm?
Recent economic literature identifies liability as a key category of foreseeable financial risk associated with biodiversity loss. However, it has not, to date, provided further guidance on the nature and extent of litigation and legal risks that should be considered in determining the potential materiality of relevant risks for a given financial actor or system. […]
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