Commentators have long speculated whether climate change
disclosures may result in claims under D&O policies, but such
claims have been slow to materialize. This could change in 2019 in
view of increasing interest in this area by investors, regulators
and the plaintiff's bar, as well as a recent decision in a
putative securities class action against ExxonMobil.
Despite the limited success of climate change lawsuits,
activists and governmental entities have made it clear that they
will continue to utilize litigation and other means to address
climate change. In the coming year, plaintiff firms will test
various claims and theories of liability, as they did with other
mass tort claims. In particular, there is increasing focus on the
adequacy of corporate disclosures relating to climate change
exposures and opportunities, particularly in the energy sector, but
also in other areas such as mining, transportation and insurance.
Climate change has become an important board
