Managing Climate Risk: Insights from Global Legal Trends and Government Initiatives

As the urgency to address climate change grows, the Australian Government and governments worldwide are facing increasing pressure to take decisive action to mitigate climate-related risks and ensure a sustainable future for all. Recent legal rulings and government initiatives provide valuable insights into the evolving landscape of climate risk management and disclosure, highlighting the importance of proactive measures and collaborative efforts across sectors. 

Only recently, Europe’s top human rights court found the Swiss government to have “failed to comply with its duties” to combat climate change and meet emissions targets. This landmark ruling underscores the legal obligations of governments to address climate change under human rights law and signals a potential shift towards greater accountability for climate action.

The verdict, which followed a decade-long legal battle led by a group of Swiss women, reflects a growing trend of climate litigation aimed at holding governments accountable for their environmental responsibilities. With climate-related lawsuits filed globally, including significant cases in Australia and the United States, it is clear that climate change is increasingly being viewed as a legal and human rights issue. The implications of governmental inaction are becoming increasingly evident, reinforcing the imperative for public sector organisations and entities to address climate issues proactively.

At the same time, governments are also taking proactive steps to better prepare for a changing climate and address climate-related risk. To support this, the Australian Government’s Climate Risk and Opportunity Management Program (CROMP) will be a key enabler in building capabilities to identify and manage the impacts of climate change to government policies, programs, assets, and services. By embedding climate risk management in decision-making processes and providing training and support services, the program aims to ensure better outcomes for communities.

These developments are central to the discussions and objectives of The Hatchery’s upcoming Public Sector Climate-Related Risk & Disclosure conference, scheduled for 25-26 June 2024 in Canberra and Online. The conference will uniquely bring together the key stakeholders and leaders from across Federal, State and Local Government to share best practices to assess, disclose and manage climate risk. Further, it will explore the key role of leadership, governance, and how to build public sector capability to effectively manage climate risk.

As governments worldwide navigate the complex challenges posed by climate change, collaboration and decisive action will be essential in securing a resilient and prosperous future for generations to come. The conference serves as a critical forum for advancing these goals and supporting public sector capability to achieve this.

For more information about the conference, download the program here