About Hannah Sharp Hannah Sharp is a partner in Rosling King’s Dispute Resolution Group specialising in financial services disputes, fraud and commercial litigation, both domestic and cross-border. Hannah has significant experience of acting for banks (investment and retail) and other financial institutions, corporates and ultra-highnet-worth individuals on a broad range of complex disputes. About Rosling King LLP Rosling King LLP is a London-based law firm specialising in serving the needs of financial institutions, corporates and individuals. Contact Hannah Sharp Partner Rosling King LLP 55 Ludgate Hill, London EC4M 7JW Tel: +44 02072 468000 E: hannah.sharp@rkllp.com www.rkllp.com action for investors who have suffered losses through a fall in a company’s share price as a result of misleading statements or omissions made in prospectuses or listing particulars which induced the investors to buy, hold or sell their shares, and it seems likely that those provisions will be relied upon as the basis for environmental claims sooner or later. Conclusion In June 2023, the Grantham Research Institute on Climate Change and the Environment published a snapshot of the global trends in climate change litigation focusing on the period May 2022 to May 2023. The report noted that 2,341 cases had been identified globally, with 190 of these being filed in the preceding 12 months. The report also identified that climate change litigation is expanding into new jurisdictions, with claims being brought in countries including Bulgaria, Thailand, Romania, Finland and Turkey. Most importantly, more than 50% of the noted cases were found to have direct judicial outcomes which were identified as favourable to climate action. The boom in ESG-related claims shows no sign of slowing down. Although most of the claims in this area to date have been brought by NGOs, as the impact of climate change is increasingly felt, further claims will inevitably follow, including claims brought by more diverse categories of claimants against a wider range of defendants. investigating greenwashing claims and taking action against wrongdoers, with litigation expected to follow. Importantly, there is no reason why defendants to greenwashing claims would be limited to fossil fuel companies or other entities directly causing environmental damage. There is the potential for a wider net of claims to be cast against any company that misleads others, including by using ‘net zero’ carbon statistics to cover up damage to the environment. One possible route to a successful greenwashing claim is likely to be a group action brought by consumers for misrepresentation following the sale of goods or services said to be environmentally friendly or carbon neutral. False or misleading statements by companies in relation to environmental matters may also give rise to claims by shareholders, particularly as companies’ environmental reporting obligations are increasing year by year. Sections 90 and 90A of the Financial Services and Markets Act 2000 provide a cause of SPECIAL FEATURE 43 The boom in ESG-related claims shows no sign of slowing down.
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