Principles on Climate Obligations of Enterprises

“The principles, as now updated, can be taken as a fair indication as to how the law stands or is likely to develop.” Lord Carnwath, former Justice of the UK Supreme Court

“The principles in this book are not just a matter of legal niceties – they underpin how businesses can survive – indeed thrive – in the face of one of the biggest challenges the human race has ever faced.” Paul Fisher, former Executive Director, Bank of England

"The Principles on Climate Obligations of Enterprises is a timely and compelling book that clarifies the critical role that businesses must play in addressing the global climate emergency and preventing catastrophic impacts on human rights. These principles should be understood and applied as legally binding obligations, not as voluntary guidelines." Dr. David R. Boyd, UN Special Rapporteur on Human Rights and Environment

Climate change is the most important challenge humankind ever faced. GHG emissions must be reduced at great pace and to a significant extent to keep global warming below fatal thresholds. This can only be achieved if the obligations of major players are sufficiently clear. The Principles on Climate Obligations of Enterprises’ main focus is on the obligations of enterprises. They identify the reduction obligations, and articulate a series of related obligations. The Principles aim to provide a legal basis for active investment management and engagement geared at stimulating enterprises to comply with their legal obligations.

This edition also contains obligations of accountants, credit rating agencies, (re)insurers and attorneys. An extensive commentary explains the Principles and their legal underpinning. The members of the Expert Group are: Jaap Spier, Bastiaan Kock, Brian J. Preston, Daniël Witte, Thomas Pogge, Philip Sutherland, Yann Aguila, Jörg Fedtke, Miquel Martin Casals, Qin Tianbao, Eva Schulev-Steindl, Jim Silk, Jessica Simor, and Elisabeth Steiner.