Addressing Climate Change Risk in a resources context

Elisa De Wit

Elisa De Wit

Partner, Norton Rose Fulbright Lawyers

Synopsis

Climate-related risks and opportunities have become an increasingly important issue for both investors and Boards.  Recently, a survey of company directors identified climate change risks as the top issue of concern.

The high profile and attention being given to this issue in Australia has been prompted by a number of developments including legal opinions by Noel Hutley SC identifying the legal risks of non-action, public statements by APRA, ASIC and the Reserve Bank of Australia, global consensus on the need to take action through adoption of the Paris Agreement and the publication of recommendations by the G20’s Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD).  Shareholder and investor engagement is also increasing and placing pressure on many industry sectors, including the extractive industry.

The resources sector is one of the sectors most exposed to climate risk, both in terms of the physical risks of climate change, but also increasingly from the transitional, reputational and litigation risks.  It is therefore increasingly important for companies and organisations to be abreast of the latest developments taking place in a regulatory and policy context.

This session will provide a high level overview of these developments, and consider how the relevant aspects of climate risk may impact on the future activities and development of the quarrying industry.

Biography

Elisa de Wit is a partner in the Melbourne office of international legal practice, Norton Rose Fulbright and heads the firm’s Climate Change and Sustainability practice.  She has over 27 years of legal experience and has practised in three Australian jurisdictions and the UK. Elisa is considered one of Australia’s preeminent climate change lawyers and advises clients on policy, regulation and compliance issues.  Elisa is a Director of the Carbon Market Institute, Beyond Zero Emissions and the Grampians Wimmera Mallee Water Corporation

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