PARIS — From being a marginal and even mocked issue, climate-change litigation is fast emerging as a new frontier of law where some believe hundreds of billions of dollars are at stake.
Compensation for losses inflicted by man-made global warming would be jaw-dropping, a payout that would make tobacco and asbestos damages look like pocket money.
Eyeing the money-spinning potential, some major commercial law firms now place climate-change litigation in their Internet shop window.
Seminars on climate law are often thickly attended by corporations that could be in the firing line -- and by the companies that insure them.
LOOK AT THE TIP OF THIS SCAM:
"There's a large number of entrepreneurial lawyers and NGOs who are hunting around for a way to gain leverage on the climate problem," said David Victor, director of the Laboratory on International Law and Regulation at the University of California at San Diego.
"The number of suits filed has increased radically. But the number of suits claiming damages from climate change that have been successful remains zero."
The majority of these cases touch on regulatory issues and access to information, which can have many repercussions for coal, gas and oil producers and big carbon-emitting industries such as steel and cement.
"In this area, the floodgates have opened," said Michael Gerrard, director of the recently-opened Center for Climate Change Law at Columbia Law School in New York, who contributed to the Deutsche Bank report.
[Go to the above link and be scared of the scam]
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