Pinsent Masons partner Michael Watson, who advises companies on climate action, said the climate emergency ‘represents the greatest risk to society and to business that we have seen in our generation’.
He said lawyers could play an important role: ‘It is likely that climate change risks are going to emerge more quickly than one could have anticipated rather than more slowly, and lawyers are good at identifying and analysing risks.’
Law firms ran COP26 information hubs, hosted talks and signed pledges as the 26th Conference of Parties (COP) got under way in Glasgow.
The biggest announcement to emerge has been a pledge by more than 100 leaders to commit to halting and reversing forest loss by 2030. An update from Travers Smith explained the commitment would be supported by £8.75bn from 12 countries while more than 30 international companies including Aviva, Schroders and Axa have committed to end investment in activities linked to deforestation.
The Forum of Insurance Lawyers (FOIL) has created a Climate Change Charter, signed by all 42 of its law firm members. It commits signatories to supporting the insurance industry as it transitions to sustainable practices and net zero carbon emissions.
The Law Society launched a climate change resolution as well as co-hosting a conference on climate change and the law with the Law Societies of Scotland and Northern Ireland, and co-hosting a webinar at the conference with Lawyers for Net-Zero.
Law Society president I Stephanie Boyce said: ‘Solicitors and law firms need to prepare for how the consequences of the climate crisis will affect them and contribute to the global drive to transition to net-zero.
‘This includes identifying climate change related risks and greener courses of action, as well as reducing the greenhouse gases associated with running any business. Nearly a third of the UK’s largest businesses and many law firms have now pledged to eliminate their contribution to carbon emissions by 2050.’
