ARTICLE
13 November 2019

The Climate Is Changing: What Every Board Member Needs To Know

MF
Morrison & Foerster LLP

Contributor

Known for providing cutting-edge legal advice on matters that are redefining industries, Morrison & Foerster has 17 offices located in the United States, Asia, and Europe. Our clients include Fortune 100 companies, leading tech and life sciences companies, and some of the largest financial institutions. We also represent investment funds and startups.
Morrison & Foerster partner Suz Mac Cormac co-authored an article with PG&E's Brian Wong for ACC Docket, a publication by the Association of Corporate Counsel, that covers how climate
United States Environment

Reprinted with permission

Morrison & Foerster partner Suz Mac Cormac co-authored an article with PG&E’s Brian Wong for ACC Docket, a publication by the Association of Corporate Counsel, that covers how climate change impacts companies and how board members should address the related risks and issues.

“Ignoring the impact of climate change on business in the long term and the short term is at best irresponsible, and at worst could deal a significant blow to the company and its shareholders,” write the authors, who suggest that board members and in-house counsel should “consider changes in climate as they provide guidance and exercise their oversight function over management.”

“There is no ‘best-in-class’ solution for all boards to adopt in considering climate risk as part of their oversight function,” according to the authors, who then offer some leading practices on private governance as advice, noting that impact analysis, board governance structure, board education, management accountability, and transparency are key in preparing companies for change over the coming months and years.

Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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