Change is coming on climate risk due diligence for property conveyancers
The question of whether solicitors have a legal duty of care to advise their clients on climate-related risks is being posed on at The Conveyancing Climate Change Conference on 14 June in the Law Society Common Room. Environmental and Social Governance (ESG) is now a growing area of concern for partners and fee earners. It’s not just about how you operate ethically either – in terms of their footprint and who they give advice to (that is, whether you are planet-friendly). It’s also about how you advise clients on the impact of climate change. The geo-environmental risks that are most sensitive to climate change – flooding, subsidence, coastal erosion – now merit far greater consideration from the legal profession. They are increasing significantly in frequency and magnitude and ongoing engagement with lenders on security for the lifetime of the loan and potential resale will become a key compliance focus.
How important do you deem this change in regulation?