Emerging Areas of Group and Class Actions Related to ESG Disclosures
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The last few years have seen increased attention being paid to environmental, social, and governance (ESG) issues from investors, consumers, and regulators. At the same time, competition and market-based activities have led to an increased desire for ESG disclosure by public companies and financial institutions, often on a voluntary basis. ESG disclosures come with the potential for conflict between stakeholders’ objectives for company performance and consumers’ expectations regarding the products and services they buy. As a result, group and class action litigation is emerging in several areas, as ESG outcomes fail to meet the promises purportedly indicated by ESG disclosures. This chapter considers three areas of such conflict and how economic analysis contributes to addressing questions relevant to class action treatment.
This article was first published in ICLG Class and Group Actions Laws and Regulations 2023.
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