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29 Colum. J. Envtl. L. 89 (2004)
Climate Change: It's Not Just a Policy Issue for Corporate Counsel - It's a Legal Problem

handle is hein.journals/cjel29 and id is 95 raw text is: Climate Change: It's Not Just a Policy Issue
for Corporate Counsel-it's a Legal
Problem
By J. Kevin Healy and Jeffrey M. Tapick*
I.  Introduction   ..............................................................................  90
II. Regulatory Programs Addressing Climate Change ................. 94
A.   International Efforts to Address Climate Change ............ 94
III. Existing Federal and State Regulatory Programs Addressing
Clim  ate  Change .......................................................................  96
A .  Federal Initiatives   ...........................................................   96
B.   State and Local Initiatives ................................................. 98
IV. Potential Liabilities for Corporations' Failure to               Address
C lim ate  C hange  .......................................................................... 101
A.   Potential for Litigation Against Major GHG Emitters ....... 101
B.   Directors' and Officers' Liability ....................................... 102
C .  Shareholder    Initiatives ........................................................ 105
D.   SEC Disclosure Obligations ............................................... 106
V. Developing a Response to Climate Change ............................... 108
A.   Conducting       a   Company-Specific         Climate     Change
R eview    ................................................................................ 108
B .  E lem  ents  of  a  Plan  .............................................................. 109
i.  Preparation     of an   Inventory    of Past and      Present
C arbon  Em  issions  ......................................................... 109
ii. Enrollment in a Registry ............................................... 110
iii. Ongoing Accounting Systems for Carbon .................... 110
iv.  Political A ttentiveness  .................................................. 111
v.  SEC   R eporting   .............................................................. 112
vi. Public and Private Assistance ....................................... 112
V I.  C onclusion   ................................................................................. 113
A PPEN   D IX   ........................................................................................ 114
* J. Kevin Healy is a partner in the New York office of Bryan Cave LLP. Jeffrey M. Tapick is law
clerk to the Honorable James A. Parker, U.S. District Court, District of New Mexico.

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