Our Senior Partner, To’ Puan Janet Looi, and Tan Sri Zarinah Anwar, the Chairman of the Institute of Corporate Directors Malaysia, co-authored the ‘Legal Opinion on Directors’ Duties and Disclosure Obligations under Malaysian Law in the Context of Climate Change Risks and Considerations’, commissioned by the Commonwealth Climate and Law Initiative (CCLI).
 
The Legal Opinion found that directors of Malaysian companies are legally required to incorporate climate change considerations into their decision making processes. A failure to do so may be a breach of directors’ legal duties and could expose them to litigation from shareholders or enforcement action from the regulatory authorities.
 
The other key findings of the legal opinion are available here.
 
The legal opinion was also mentioned by Karina Litvack, Chairman, Climate Governance Initiative, on BFM in their podcast, titled ‘Board Leadership Required for Climate Governance’.
 
Listen to the podcast here.
 
Janet also spoke about the Legal Opinion at the  “Climate Change Risks and Directors Duties” webinar held jointly by the Climate Governance Malaysia and Bar Council Malaysia: https://www.cgmalaysia.com/post/webinar-on-directors-duties-climate-change
 
For further information on ESG and climate change risks and directors’ duties, please see here.