Are You a Liability? Ethical Issues and the Disclosure of Potential Liability Arising from Greenhouse Gas Regulation
During the past several years, few issues in environmental law have received the attention, and have such broad implication for potential change, as greenhouse gas ("GHG") regulation. Unlike the more traditional areas of regulatory focus, virtually every operating business contributes GHG emissions. The global warming debate has raged for decades, preventing any clear regulatory direction in the United States. However, several significant developments in the last several years have dramatically changed that landscape; these changes require in-house counsel to evaluate their approach toward financial disclosures. In the face of these developments, counsel should begin to question their disclosure obligations relative to potential liability arising from GHG emissions if they have not already.