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This legal opinion on fiduciary duties and climate change was commissioned for a business roundtable attended by senior business leaders, fund managers, legal experts and regulators in Melbourne in October 2016.

It discusses the duty of care and diligence, climate change risk and how this might apply to future climate-related litigation against company directors in future.

It emphasises that as the economic and environmental implications of climate change intersect, company directors are legally empowered to elevate climate-related risks and opportunities to the forefront of corporate strategy. Directors who do not consider these issues properly, or who overlook climate change altogether, risk personal liability for failing to act in their companies’ best interests.

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