CIB Economy, Governance, Climate [SP 24]

As the reality of climate change and its impacts are becoming increasingly observable, standards and regulations are enacted at a rapid pace, both at the international and national levels, to address sustainability and ESG (environment, social and governance) topics. The real economy and the financial sector are pivotal factors for a more sustainable future and there is a general expectation that companies will align their business models and activities with the Paris climate agreement goals and other sustainability standards. The courts all around the world are taking stance to accelerate the transition towards a net zero economy and so-called strategic climate litigation has become a powerful tool in the hands of NGOs, citizens and communities to create more public awareness, bring about social change, advance climate policies, and change the behavior of States and companies.

This course adresses legal issues regarding economy, governance and climate protection from an interdisciplinary perspective. It present the general regulatory framework applicable to environmental sustainability, with a focus on global warming, starting with international treaties and Resolutions (Agenda 2030, Paris Agreement) and standards (such as the OECD principles for multinational enterprises). It will then address how these international obligations are implemented in Swiss law (and EU law) and the main impacts of this regulatory framework for companies (subject to new transparency and reporting duties as well as due diligence duties). Proper corporate governance is crucial to address this fast-evolving regulatory framework and the expectations of all stakeholders and we will review the main principles applicable thereto. The course will then focus on climate litigation, both against states and companies, and will examine in more details some emblematic cases and their implications for Swiss companies.

Besides sessions and discussions in plenum, the students will examine the topics discussed in class in greater depth and present them to the plenary session.