The corrective potential of suing Carbon Majors
An economic view on climate change litigation
Research Paper by Magdalena Lomacka
18.12.2019
Abstract
Using economic theory and empirical evidence, this paper shows that the widespread development of legal liability of businesses for their past greenhouse gas emissions has the potential to directly deter carbon-intensive production, influence the pricing structure of goods and services (to better reflect their carbon footprint) and make its way into investment decisions.