Environmental, Social and Governance (ESG) litigation has become dominated by climate lawsuits, most notably filed against global energy companies like Shell Plc and Exxon Mobil Corp. The scope of ESG litigation is expanding, as regulatory developments pose new potential risks for a wider range of organizations. These broadening risks can largely be attributed to the demand for mandatory reporting requirements coupled with current legislation in the area. Now, we are witnessing an influx of lawsuits against both governments and corporations based on ESG statements in securities filings.
While governments and corporations around the globe push forward with vaccine development and potential cures, therapeutics litigation is now receiving attention. Rapid developments in this area are leading to securities and derivatives violations.