Climate change litigation and central banks

Joana Setzer, Catherine Higham, Andrew Jackson and Javier Solana

No 21, Legal Working Paper Series from European Central Bank

Abstract: Given the urgent need to dramatically reduce greenhouse gas emissions, and concern regarding insufficient climate action and ambition across the globe, NGOs and individuals are increasingly turning to the courts to force States, public authorities, and private entities to increase their climate action and ambition and hold them accountable through climate-related litigation. The three contributions in this legal working paper discuss various aspects of such climate change litigation around the world. The papers examine the evolution of climate-related cases, the scope of such cases and the varying grounds on which they have been based. They also focus in some detail on certain key judgments addressing novel issues, as well as a recent climate-related case brought against a national central bank. The papers were originally presented at the Legal Colloquium on “Climate change litigation and central banks – Action for the environment”, organised by the European Central Bank on 27 May 2021. JEL Classification: K32, K33, K39, K41, Q54

Keywords: Article 11 TFEU; climate-related litigation; climate change; climate risk; compilation of cases; corporate sector purchase programme; European Convention on Human Rights; financial risk; Ireland; legal standing.; litigation against financial institutions; monetary policy; right to an environment; transnational legal networks (search for similar items in EconPapers)
Date: 2021-12
New Economics Papers: this item is included in nep-ban, nep-env, nep-law and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecblwp:202121

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