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Climate change litigation and central banks

Author

Listed:
  • Setzer, Joana
  • Higham, Catherine
  • Jackson, Andrew
  • Solana, Javier

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

Suggested Citation

  • Setzer, Joana & Higham, Catherine & Jackson, Andrew & Solana, Javier, 2021. "Climate change litigation and central banks," Legal Working Paper Series 21, European Central Bank.
    • Handle: RePEc:ecb:ecblwp:202121
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    File URL: https://www.ecb.europa.eu//pub/pdf/scplps/ecb.lwp21~f7a250787a.en.pdf
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    References listed on IDEAS

    as
    1. Franziska Bremus & Franziska Schütze & Aleksandar Zaklan, 2021. "The Impact of ECB Corporate Sector Purchases on European Green Bonds," Discussion Papers of DIW Berlin 1938, DIW Berlin, German Institute for Economic Research.
    2. De Santis, Roberto A. & Roos, Madelaine & Hettler, Katja & Tamburrini, Fabio, 2018. "Purchases of green bonds under the Eurosystem’s asset purchase programme," Economic Bulletin Boxes, European Central Bank, vol. 7.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. O'Connell, Marguerite & Abraham, Laurent & Oleaga, Iñigo Arruga, 2023. "The legal and institutional feasibility of an EU Climate and Energy Security Fund," Occasional Paper Series 313, European Central Bank.

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    More about this item

    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;
    All these keywords.

    JEL classification:

    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
    • K39 - Law and Economics - - Other Substantive Areas of Law - - - Other
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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