Climate Change Litigation and Central Banks

68 Pages Posted: 4 Dec 2021

See all articles by Joana Setzer

Joana Setzer

London School of Economics & Political Science (LSE)

Catherine Higham

Grantham Research Institute

Andrew Jackson

UCD Sutherland School of Law

Javier Solana

School of Law, University of Glasgow

Date Written: December 1, 2021

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.

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

JEL Classification: K32, K33, K39, K41, Q54

Suggested Citation

Setzer, Joana and Higham, Catherine and Jackson, Andrew and Solana, Javier, Climate Change Litigation and Central Banks (December 1, 2021). European Central Bank Legal Working Paper Series 2021/21, Available at SSRN: https://ssrn.com/abstract=3977335 or http://dx.doi.org/10.2139/ssrn.3977335

Joana Setzer (Contact Author)

London School of Economics & Political Science (LSE) ( email )

Houghton Street
London, WC2A 2AE
United Kingdom

Catherine Higham

Grantham Research Institute ( email )

Houghton Street
London, WC2A 2AE
Great Britain

HOME PAGE: http://https://www.lse.ac.uk/granthaminstitute/profile/catherine-higham/

Andrew Jackson

UCD Sutherland School of Law ( email )

Belfield
Dublin 4
Ireland

Javier Solana

School of Law, University of Glasgow ( email )

Stair Building
5 - 8 The Square
Glasgow, Scotland G12 8QQ
United Kingdom

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