Drawing on data from Columbia University’s Sabin Center for Climate Change Law, S&P highlights a more than fourfold increase in the total number of climate cases worldwide, from 581 in 2013 to 2,410 in 2023. This uptick not only signifies growing societal pressures but also a heightened awareness of climate impacts. The geographic spread of these cases has expanded significantly, with legal actions now spanning 75 jurisdictions, marking a considerable rise from 24 in 2017.
Diverse Targets, Persistent Focus
While litigation has diversified to include financial institutions among others, oil and gas companies remain primary targets. Notable is a recent case filed by California against major oil companies like ExxonMobil and Chevron, accusing them of misleading the public on the risks of fossil fuels.
Deceleration but Continued Vigilance
S&P notes a slight decrease in the number of new climate cases filed globally, from a peak of 263 in 2021 to 200 in 2023. Nonetheless, they anticipate that the frequency of new cases will consistently exceed levels seen before the 2015 Paris Agreement, underscoring an ongoing trend.
