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Bankers ‘Are Right’ to Fear Legal Risk of Their CO2 Claims (2)

Sept. 28, 2022, 7:22 PM

Bankers have every reason to be worried about the risk of litigation after declaring their commitment to net-zero goals, according to lawyers advising the industry.

Members of the Glasgow Financial Alliance for Net Zero, by far the biggest climate club for banks and investment professionals, “find themselves between the devil and the deep blue sea on climate targets,” said Sonali Siriwardena, partner and global head of ESG at Simmons & Simmons in London.

“The litigation risk is real and banks are right to be concerned about it,” she said in an interview.

Sonali Siriwardena
Source: Simmons & Simmons

Over the past 1 1/2 years, ...