In 5 Yrs., Top 100 US Law Firms Took 358 Cases From Big Energy, Made 1.3 Trillion In FF Deals Happen
The world’s biggest corporate law firms have been making millions of dollars representing fossil fuel companies but, as the climate crisis intensifies, this work is coming under increasing scrutiny. Over the last five years, the 100 top ranked law firms in the US facilitated $1.36tn of fossil fuel transactions, represented fossil fuel clients in 358 legal cases and received $35m in compensation for their work to assist fossil fuel industry lobbying, according to a “climate scorecard” published in August.
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Fossil fuel companies rely heavily on armies of lawyers to advise on projects, lobby, negotiate contracts, secure permits and navigate an increasing number of climate lawsuits. Law firms’ fossil fuel industry work has increased compared with the previous year’s scorecard, even as climate warnings become more dire and the International Energy Agency has warned new fossil fuel development is incompatible with the target of net zero emissions by 2050. The climate scorecard awarded firms grades based on their involvement in lawsuits “exacerbating climate change”, their support for fossil fuel transactions and fees received for lobbying on behalf of the fossil fuel industry.
Paul Weiss, a top 10 US firm according to Vault Law’s rankings, was one of 37 to receive the lowest F grade. The firm, which has its own sustainability practice, has acted for fossil fuel companies in 30 cases over the last five years, according to the scorecard. Among the most high-profile was the firm’s work representing ExxonMobil in a landmark trial where the company was accused of having misled investors about the risks of climate change to its business. The court ruled in favour of Exxon in 2019. Paul Weiss did not respond to a request for comment.
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Law firms are starting to ramp up their own climate action, even as they continue their fossil fuel work. A number of firms that scored F grades on the climate scorecard, including Shearman & Sterling and Hogan Lovells, have signed up to the Net Zero Lawyers Alliance, which launched in July. Members pledge to achieve net zero emissions by 2050 and to work with clients to embed climate goals and to help drive “systemic change”. Neither firm responded to the Guardian’s request for comment. Another alliance member, DLA Piper, has set its own science-based target to halve all emissions by 2030, including indirect emissions from the firm’s supply chain. The firm was recently appointed official legal services provider for the forthcoming Cop26 climate talks. But it scored only a D on the climate scorecard and has represented clients including Shell, ExxonMobil and BP. The firm declined to comment.
Ed. - Just . . . . fucking . . . . stop it. Nobody cares.
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https://www.theguardian.com/environment/2021/oct/09/fossil-fuel-companies-law-firms
