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8 - Conclusion

Published online by Cambridge University Press:  09 April 2021

Lisa Benjamin
Affiliation:
Lewis & Clark College, Portland
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Summary

This concluding chapter ties together the various elements of regulatory and market-based developments covered earlier in the book and the impacts they have on dominant corporate norms. International consensus shifting on climate change indicates that these dominant theories and norms have become outdated, and should be adapted to reflect broader public and private investor concerns around climate change. The systemic risks of climate change are proving to be a market driver for reallocation of capital away from fossil fuel assets and towards a low or no carbon economy. Companies themselves are reacting with net-zero emissions targets, although these approaches mainly cabin climate concerns to risk-based approaches. This chapter argues that public regulation is still needed to ensure corporate climate action protects not only profits but the public. It ends with two areas of likely future regulatory development – standardised disclosure obligations for companies on climate risk, as well as governance and strategy making by companies on climate change. It also advocates that companies hire climate expertise on an either an ad hoc or permanent basis to help directors reimagine the corporate purpose in the Anthropocene.

Type
Chapter
Information
Companies and Climate Change
Theory and Law in the United Kingdom
, pp. 214 - 230
Publisher: Cambridge University Press
Print publication year: 2021

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  • Conclusion
  • Lisa Benjamin
  • Book: Companies and Climate Change
  • Online publication: 09 April 2021
  • Chapter DOI: https://doi.org/10.1017/9781108689243.008
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  • Conclusion
  • Lisa Benjamin
  • Book: Companies and Climate Change
  • Online publication: 09 April 2021
  • Chapter DOI: https://doi.org/10.1017/9781108689243.008
Available formats
×

Send book to Google Drive

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive.

  • Conclusion
  • Lisa Benjamin
  • Book: Companies and Climate Change
  • Online publication: 09 April 2021
  • Chapter DOI: https://doi.org/10.1017/9781108689243.008
Available formats
×