Principles on Climate Obligations of Enterprises

Climate change is the most important challenge humankind ever faced.

GHG emissions must be reduced at great pace and to a signifi cant extent to keep

global warming below fatal thresholds. This can only be achieved if the obligations

of major players are suffi ciently clear. The Principles on Climate Obligations of

Enterprises’ main focus is on the obligations of enterprises. They identify the

reduction obligations, and articulate a series of related obligations.

The Principles aim to provide a legal basis for active investment management and

engagement geared at stimulating enterprises to comply with their legal obligations.

This edition also contains obligations of accountants, credit rating agencies,

(re)insurers and attorneys. An extensive commentary explains the Principles and

their legal underpinning. The members of the Expert Group are: Jaap Spier,

Bastiaan Kock, Brian J. Preston, Daniël Witte, Thomas Pogge, Philip Sutherland,

Yann Aguila, Jörg Fedtke, Miquel Martin Casals, Qin Tianbao, Eva Schulev-Steindl,

Jim Silk, Jessica Simor, and Elisabeth Steiner.

“This document will help corporate leaders to make informed decisions about

the measures to be taken, and allows others – investors, Prudential Authorities,

accountants and NGOs – to assess whether the required measures have

been implemented.”

Gordon Brown, former Prime Minister of the UK