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World Bank Launches Sustainable Development Bond
January 19, 2018
Further highlighting its embrace of the UN Sustainable Development Goals as a key element of its funding model, the World Bank has issued a Sustainable Development Bond worth over one billion Canadian dollars with the aim of "advancing gender equality and the empowerment of women."
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New York City Files Climate Suit Against Energy Companies
January 19, 2018
The Washington Post reports that the government of New York City has filed a federal lawsuit against the five largest publicly traded oil companies in the world for compensation related to the current and future impacts of global warming and has announced its public pension plans will divest up to $5 billion from companies with ties to fossil fuels.
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Exxon Threatens Municipalities with Climate Countersuit
January 18, 2018
CNN reports that Exxon has accused a group of cities and countries in California suing the energy company over its alleged contributions to global warming of bad faith, given the statements made by some of these municipalities in their bond offerings on the uncertainties involved in climate change, and requested to depose city officials in a move toward a countersuit.
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NGO Report Aims to Provide Basis for Climate Lawsuits
January 18, 2018
The Center for International Environmental Law has produced a document purporting to demonstrate "the legal and evidentiary basis" for permitting people affected by global warming to sue energy companies for their contribution to the phenomenon through the use and promotion of fossil fuels, including under "international human rights law."
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NGOs Seek EU Class-Action System for Human Rights
January 18, 2018
A group of nongovernmental organizations has issued a statement calling for EU institutions to develop an EU-wide mechanism permitting plaintiffs to file class-action lawsuits in the case of "all instances of harm caused by corporate entities," including human rights violations and environmental harm.
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