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January 30, 2023

ESG among top 3 drivers of US, Canada class actions

Research by Norton Rose Fulbright found that ESG factors are the third most concerning area for class action in the US and Canada. The law firm’s 2023 Annual Litigation Trends Survey gathered the views of more than 430 general counsel and in-house experts in charge of litigation across financial services, energy, healthcare and technology. Out of all respondents who expressed concern about class-action lawsuits in 2023, 37 per cent singled out ESG as a driver. This was only 8 per cent a year earlier. ESG has become the fastest growing class action threat in the two countries.

Employment disputes and those related to cybersecurity, data protection and data privacy were the first and second most pressing class-action concerns, respectively, according to the study. The report summarising the findings dives into the specific reasons driving ESG class actions, with lack of commonly accepted ESG metrics and growing regulatory pressure as the top reasons fuelling litigation.

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