The Imminent Threat of ESG Class Actions – Roundtable Discussion

A recent survey by the law firm Norton Rose Fulbright found that 28% of more than 430 general counsel and in-house litigation leaders said their so-called ESG dispute exposure increased in 2022, and 24% expected it to deepen over the next 12 months. The key reasons are the absence of clear environmental, social and governance metrics and requirements, and the heightened regulatory scrutiny on the importance of ESG. The issue has joined employment and labour disputes, cybersecurity and data protection in what Norton Rose refers to as “class-action areas of future concern.”

This special roundtable with ISITC-Europe and the Chartered Institute for Securities & Investment will take a deep dive – under the Chatham House rule of confidentiality – into this potentially difficult area, covering:

• General background to class actions – both in the US and outside
• The evolving class action landscape
• What should investors do?
• The rise of ESG class action cases and shareholder activism
• A look into the future – what can we expect to see?

The discussion will be chaired by Simon Osborne, Fellow and Joint Head of Board Evaluation at The Chartered Governance Institute, Executive Fellow with the London Business School Leadership Institute, Adviser to the International Corporate Governance Network, renowned expert and published author on Corporate Governance.

The opening presentation will be given by Trip Chong, Director of Global Class Actions at Broadridge Investor Communications. Trip has over 13 years industry experience in securities group investor actions with particular focus on international jurisdictions. Trip has an excellent understanding of client needs and works closely with law firms, litigation funders and investor rights groups to help clients navigate the complex landscape of international securities litigation.

George Littlejohn, Senior Adviser at the CISI, will present the results of recent research, due for publication in May, amongst the Green Finance Education Charter group – some 1.3 million global professionals in the worlds of securities and investment, asset management and financial reporting – into the risks in the field, and will also report on recent discussions with global regulators on their plans here.