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Recommendations for Effectively Resolving Climate Change Disputes Against Investors journal article

Emily Davies

Carbon & Climate Law Review, Volume 14 (2020), Issue 1, Page 49 - 55

Investors, such as banks and pension funds, are responsible for a substantial amount of the capital required to achieve the goals of the Paris Agreement. Following the development of climate change legislation and case law, investors have become increasingly exposed to disputes under corporations, finance and securities and torts law relating to the climate risk of their investments. Therefore, this paper seeks to inform investors, litigants and other relevant actors as to the best approach to effectively resolve such disputes, acknowledging the urgency with which the world must take action to mitigate the impacts of climate change. Based on the nature of climate change disputes, this paper assesses the effectiveness of litigation, public inquiry and mediation as dispute resolution mechanisms. This paper explains that public inquiry may be effective in pre-empting and resolving climate change disputes against investors. Litigation may however be appropriate where the parties seek to create legal precedent or obtain enforceable remedies. Further, mediation is generally unsuitable for resolving climate change disputes against investors but may be useful in narrowing the scope of issues between the parties as part of a public inquiry or litigation.


Recommendations for an International Carbon Currency Market under Article 6 of the Paris Agreement journal article

Emily Davies

Carbon & Climate Law Review, Volume 12 (2018), Issue 2, Page 132 - 139

An international carbon currency market has the ability to achieve a global low-carbon development transition that delivers the mitigation targets of the Paris Agreement. To achieve this, Parties to the Paris Agreement must leverage climate finance to transition to an international carbon currency market as soon as possible. The private sector is an important source of climate finance and is key to achieving this goal. Adoption of guidance on cooperative approaches and rules, modalities and procedures under Articles 6.2 and 6.4 of the Paris Agreement which encourage the development of an international currency market and private sector participation will facilitate this transition. This paper commences by explaining why the world needs to rapidly develop an international carbon currency market to meet mitigation targets under the Paris Agreement. It then details the importance of private sector participation and Article 6 of the Paris Agreement. The paper then looks at lessons learned from existing carbon markets. Finally, the paper looks at what guidance on cooperative approaches and rules, modalities and procedures should be adopted under Article 6 of the Paris agreement to facilitate private sector engagement and the rapid global transition to an international carbon currency market.

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