GDP Center Researchers Examine Legal Fees Associated With Climate Adaptation Efforts
A team of researchers from the Global Development Policy (GDP) Center, an affiliated regional center at the Frederick S. Pardee School of Global Studies at Boston University, has published a Science article exploring the legal and financial risks associated with potential government action to limit oil and gas production.
The article, titled “Investor-state disputes threaten the global green energy transition,” was co-authored by Kevin Gallagher, Pardee School Professor of Global Development Policy and Director at the GDP Center; Kyla Tienhaara; Rachel Thrasher; and B. Alexander Simmons. In their piece, the authors estimate the costs of possible legal claims from oil and gas investors in response to government actions to limit fossil fuels. They find legal claims could reach $340 billion, a substantial amount that would divert critical public finance from essential mitigation and adaptation efforts to the pockets of fossil fuel industry investors. The authors argue governments should take measures to prevent fossil fuel investors from accessing investor-state dispute settlements (ISDS), including moving quickly to terminate agreements.
The full article can be read on Science‘s website.
The GDP Center is a university-wide research center affiliated with the Pardee School of Global Studies. The GDP Center’s mission is to advance policy-oriented research for financial stability, human well-being, and environmental sustainability. Visit the GDP Center’s website for more.