Fossil Fuel Industry

A global energy crisis of unparalleled scope and complexity is currently roiling the planet. Although the crisis is most acute in Europe, it is having a significant impact on markets, regulations, and economies all over the world. Europe was the region most impacted by the crisis since the Ukraine conflict where Russia’s supplies to Europe were disrupted. The nation took action to mitigate the effects of the crisis as a result of this interruption, one of which was the urge to find new sources of energy. The African continent is rich in energy resources, but the question that remains is whether it will be able to replace Russia in meeting Europe's energy needs.

Climate litigation has been a steadily growing trend in recent years with the number of litigation cases multiplying globally in 2022. In 2023, a new wave of climate lawsuits are stirring concerns among big industries, corporate stakeholders and governments and causing businesses to increase attention to precise reporting and accountability for emissions. As more regulators globally are developing rules that require large companies to disclose their climate-related risks, more companies are beginning to comply with the requirements and integrating the new regulations in their planning; demonstrating the critical nature of this shift. While the race to curb global heating gets tighter, the spotlight is growing on actors that are exacerbating the fossil-fueled climate crisis. At the same time, the gap between the concrete actions that companies and governments should be taking and where they currently stand is still huge. This makes climate litigation a more appealing channel for frustrated environmental activists and citizens. What impact does increased climate litigation have on businesses and governments? And what happens when legal paths yield unsatisfying results?