Climate risk is the financial risk created by the real-world impacts of climate change.
That includes stronger storms, rising temperatures, floods and wildfires. It also includes changing insurance markets, new regulations, supply-chain disruptions, and the damage and downtime when extreme weather destroys buildings, equipment, and infrastructure.
ClientEarth USA is using the law to hold reckless corporations accountable on climate risk.
Why climate risk matters
Our entire economy, and much of our retirement savings, are heavily exposed to the disruption that climate change is causing. But many of the corporate and financial institutions that we rely on to manage our savings are not sufficiently considering climate risks in the way they manage retirement funds. They’re also failing to future proof these funds to protect people and the planet. This leaves millions of Americans exposed to climate risks and the severe financial impact of climate change.
What we’re doing to protect people and the planet from climate risk
The people managing your retirement money have a legal duty to protect you. In legal terms, they are fiduciaries. Their job is to manage risks and act prudently and solely in the interests of the workers whose money they manage.
Ignoring the financial risks of climate change, or treating such risk as simply an ethical or “political” consideration, leaves workers’ savings exposed to foreseeable losses.
That failure is not only irresponsible — it’s unlawful. ClientEarth USA is working to shine a light on this failure and use the law to hold institutions accountable for their failure to act.
Cushman & Wakefield
Our legal team has filed a lawsuit against the real estate services firm, Cushman & Wakefield. The lawsuit alleges that by offering its staff a retirement fund loaded with climate risk, Cushman & Wakefield is jeopardizing its workers’ retirement savings, in breach of its duty as a fiduciary.
A successful case could set a powerful precedent, making it unmistakable that those safeguarding trillions of dollars in retirement savings must manage climate risk just as they would any other material financial threat, and give working Americans the protection they are owed.
Join us to hold reckless corporations accountable for a liveable planet.
We’re using the law to hold corporate and financial institutions accountable for environmental harm and to change their behavior for long-term impact on climate change. Learn more about our achievements so far.
Learn more about our impact
ClientEarth USA is using the law to hold America’s biggest corporate polluters and their financial enablers accountable for the environmental harm they cause. Learn more about our current cases and how you can get involved.
Our current cases