Expect more corporate litigation over social issues

[ad_1]

Climate-related lawsuits such as those filed against energy companies Exxon Mobil Corp., Shell and PG&E Corp. have dominated ESG litigation — for environmental, social and governance — in recent years. But there are signs an increase in cases extending beyond the environmental pillar of ESG may be coming.

More government and investor scrutiny of labor conditions and supply chains will boost the amount of corporate disclosure in those areas, said Nneka Chike-Obi, a director for sustainable finance at Fitch Ratings. That will give stakeholders the opportunity to glean discrepancies between what companies disclose and what they actually do, she said in a report last week. And those discrepancies will form the basis of lawsuits seeking redress.

“Climate is obviously the most pressing existential threat to the environment, but a lot of other topics are now getting more targeted regulation,” Chike-Obi said in an interview.

When it comes to social litigation, the frequency of cases is often tied to wider societal events. For example, the pandemic triggered a flood of U.S. workplace litigation, with 4,200 COVID-related lawsuits since early 2020, mostly in healthcare, according to the Fitch report. And a greater awareness of workplace discrimination against women, spurred on in recent years by the #MeToo movement, has helped fuel more gender-discrimination litigation.

Employment-related lawsuits are, of course, nothing new. But high-profile claims of alleged discrimination can be a blueprint for future cases. This month, California sued Tesla Inc. for racial discrimination and harassment after finding widespread mistreatment of Black workers at its Fremont factory.

That came on the heels of a landmark case involving a Black man who worked as a contractor for the EV maker. He alleged pervasive racism at Tesla and was ultimately awarded $137 million, believed to be the largest such verdict of its kind. (The award may eventually be reduced).

“The seeds are there,” Chike-Obi said. “And given that employment litigation has already been increasing in the past year or two, I don’t see any reason why there wouldn’t be anything related to discrimination or racial issues, given that we’ve seen it with gender issues.”

But it won’t be just lawsuits filed by employees on social issues. Litigation could also come from investors. Chike-Obi pointed to sustainability bonds, which have enjoyed growth in recent years.

If companies make misrepresentations in bond documentation about how proceeds are used for training for under-represented minorities or increasing the number of minority-owned suppliers, those are potentially subject to claim if the company falls short, she said.

“Essentially the more sustainable bond issuance, the more sustainability information is subject to securities law,” Chike-Obi said.

[ad_2]

Source link

Trending Topics

Features

Download and distribute powerful vaccination QI resources for your community.

Sign up now to support health equity and sustainable health outcomes in your community.

MCED tests use a simple blood draw to screen for many kinds of cancer at once.

FYHN is a bridge connecting health information providers to BIPOC communities in a trusted environment.

Discover an honest look at our Medicare system.

ARC was launched to create a network of community clinicians to diversify and bring clinical trials to communities of color and other communities that have been underrepresented.

The single most important purpose of our healthcare system is to reduce patient risk for an acute event.

Related Posts
Lung Cancer Awareness Month Highlights the Need for Early Detection and Health Access
Tulane Students Discover New Hip Muscle Attachment That Could Help Improve Surgery
American Diabetes Month Highlights the Link Between Diabetes and Kidney Health
Scroll to Top
Featured Articles
Lung Cancer Awareness Month Highlights the Need for Early Detection and Health Access
Lung Cancer Awareness Month Highlights the Need for Early Detection and Healt...
Tulane Hip Muscle Discovery Explained
Tulane Students Discover New Hip Muscle Attachment That Could Help Improve Su...
American Diabetes Month Highlights the Link Between Diabetes and Kidney Health
American Diabetes Month Highlights the Link Between Diabetes and Kidney Health
Unapproved peptides being examined in a pharmaceutical laboratory amid FDA safety concerns.
HHS Moves to Expand Access to Unapproved Peptides Amid FDA Safety Concerns
World Stroke Day Highlights Prevention and Brain Health Access
World Stroke Day Highlights Prevention and Brain Health Access
People living with kidney disease connecting and sharing experiences, offering peer support, encouragement, and practical insights for navigating chronic kidney disease.
Kidney Disease Support Groups: Why Connection Matters
Categories
AI
ATTR-CM
BIPOC News
Cancer
Clinical Trials
Covid19
Diseases of the Body
Environment
Health Data
Health Equity Events
Health Policy
Health Tips
Subscribe to our newsletter to receive our latest news​
All Stories
Lung Cancer Awareness Month Highlights the Need for Early Detection and Health Access
Lung Cancer Awareness Month Highlights the Need for Early Detection and Healt...
Tulane Hip Muscle Discovery Explained
Tulane Students Discover New Hip Muscle Attachment That Could Help Improve Su...
American Diabetes Month Highlights the Link Between Diabetes and Kidney Health
American Diabetes Month Highlights the Link Between Diabetes and Kidney Health
BIPOC News
Lung Cancer Awareness Month Highlights the Need for Early Detection and Health Access
Lung Cancer Awareness Month Highlights the Need for Early Detection and Healt...
World Stroke Day Highlights Prevention and Brain Health Access
World Stroke Day Highlights Prevention and Brain Health Access
People living with kidney disease connecting and sharing experiences, offering peer support, encouragement, and practical insights for navigating chronic kidney disease.
Kidney Disease Support Groups: Why Connection Matters
Environment
Invisible Disabilities, Unequal Care and the Fight for Health Access
Invisible Disabilities, Unequal Care and the Fight for Health Access
ID 213880366 ©  Prostockstudio | Dreamstime.com
Illinois Infant Mortality Is Declining, but Racial Disparities Remain
Gary, Indiana Tap Water Raises Health and Environmental Justice Concerns
Gary, Indiana Tap Water Raises Health and Environmental Justice Concerns
Work Force
A multigenerational Black and Hispanic family sitting together in a park, showing how Social Security helps support older adults, people with disabilities, and families across generations.
Millions of Older Americans Could Face Smaller Social Security Checks by 2032...
dreamstime_s_243253251
The Caregiver Journey: The Hidden Backbone of American Healthcare
Families gather at a Bronx community festival with live music, kids’ activities, and health booths sharing SOMOS social care resources and free screenings.
Celebrating Hispanic heritage while learning about health care

[xyz-ips snippet=”Output-Source-Name”]

Clinical Trials
ID 467708657 | Black Doctor ©  Fizkes | Dreamstime.com
Multi-Cancer Early Detection Could Shift Cancer Earlier, But Who Has Access?
Historic Cancer Leadership Milestone Highlights the Importance of Early Detection and Community Outreach
Historic Cancer Leadership Milestone Highlights the Importance of Early Detec...
House Advances Bipartisan EARLY Act Reauthorization, Renewing Focus on Early Breast Cancer Detection for Young Women
House Advances Bipartisan EARLY Act Reauthorization, Renewing Focus on Early ...
Vaccines and Outbreaks
dreamstime_s_276142618
RSV Season Is Starting. Here’s What Families Should Know
Victor Mejia Lacayo
Summer COVID Surge Builds Across U.S. Fyh.news
Summer COVID Surge Builds Across U.S. as Cases Rise Again
Class I Salmonella Egg Recall What to Know Fyh.news
FDA Gives Egg Recall Highest-Risk Class I Designation Over Salmonella Outbreak
Other Categories
AI
Read the latest AI News stories trending around the world
ATTR-CM
Cancer
Read the latest Cancer stories trending around the world
Covid19
Diseases of the Body
Read about the latest Diseases of the Body trending around the world
Friday Webinars
Every Friday, we bring you insightful webinars covering critical topics in healthcare, data equity, and policy reform.
Health Data
Read the latest Health Data stories trending around the world
Health Equity Events
Read the best Health Equity Events around the country.
Health Policy
Read the latest Health Policy stories trending around the world
Health Tips
Heart Health
Read the latest on Heart Health News, Stories and Tips.
kidney Health
Read more trending News about Kidney Health, Stories and Tips.