No legal shield for company directors who say climate change 'doesn't exist'

By Pattrick Smellie | Thu, 31 Oct 2019


Company directors and fund managers who fail to manage investment risks associated with climate change are failing in their legal duties under the Companies Act, according to a legal opinion commissioned by new business lobby group The Aotearoa Circle.Based on the opinion from law firm Chapman Tripp, the Circle argues in a 68-page interim Sustainable Finance Forum report, that directors' and investment managers' fiduciary duties should be clarified to make clear that environmental and social are factors they need to consider.Led by the chief ex...