Legal Perspectives for Global Challenges 5 - Principles on climate obligations of enterprises

Climate change is the most important challenge humankind ever faced. GHG emissions must be reduced at great pace and to a significant extent to keep global warming below 2 and preferably 1,5 degrees Celsius. This can only be achieved if the obligations of major players - States, enterprises and investors - are sufficiently clear. The Oslo Principles aimed to discern the legal obligations of States. The Principles on Climate Obligations of Enterprises focus on the obligations of enterprises and investors. They identify the reduction obligations of enterprises, and articulate a series of related obligations. Investors can and many already do play an important role to stem the tide. The Principles on Climate Change Obligations of Enterprises aim to provide a legal basis for active investment management and engagement geared at stimulating enterprises to comply with their legal obligations. An extensive commentary further explains the Principles and their legal underpinning. The members of the expert group are Thomas Pogge, Brian Preston, Tianbao Qin, James Silk, Jaap Spier (reporter), Elisabeth Steiner, Philip Sutherland and Daniël Witte.