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LEGAL MEMORANDUM concerning DIRECTOR DUTIES AND LIABILIT Y FOR CLIMATE RISK UNDER SOUTH AFRICAN LAW
This legal memorandum analyzes the potential for company directors in South Africa to be held personally liable for failing to address, disclose, and prepare for climate-related financial risks. It examines the intersection of the Companies Act 71 of 2008, common law, the National Environmental Management Act (NEMA), and the recently enacted Climate Change Act 22 of 2024, arguing that climate risk is a material financial risk that falls under existing directors' duties of care, skill, and fiduciary loyalty.
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Document type: Report
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