Japanese corporate directors could be held personally liable if they fail to address climate risks, according to a report released Wednesday by the U.K.-based Commonwealth Climate and Law Initiative.
The study warns that ignoring climate-related financial threats could expose executives to lawsuits, regulatory scrutiny and financial losses, arguing that climate risk management must be embedded in corporate governance.
Coauthored by legal scholars specializing in corporate governance, the study underscores the mounting financial and legal risks facing companies in Japan.
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