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Environment Magazine September/October 2008


September-October 2017

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Liability and Precaution

Liability is both a legal notion and an ethical concept. This article contributes to the debate around the future roles of the precautionary principle by investigating how legal and ethical considerations intertwine. It also considers how financial markets are adjusting to the emerging economic and social realities of climate change. These two features are explored from the perspective of investors (with regard to “fiduciary duty”) and managers (with regard to the alignment between mitigation targets and company strategy).


Iancu S. Daramus is an associate of financial think-tank Carbon Tracker Initiative. He has worked with the UK Cabinet Office on social action and as a researcher for the Institute of Art and Ideas. He has an MSc in philosophy and public policy from the London School of Economics and a first-class BA in philosophy and politics from the University of Essex. His main research interests are in the ethics and economics of climate change.

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