Resilient LLP (formerly DeMarco Allan LLP)
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Lisa DeMarco

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Commonwealth Climate and Law Initiative Publishes Resilient LLP Legal Opinion on Directors’ Duties & Nature Risks in Canada

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We are pleased to announce the release of Resilient LLP’s legal opinion, Nature-related risks and the duties of directors of Canadian corporations, commissioned and published by the Commonwealth Climate and Law Initiative (CCLI) and co-authored by Lisa DeMarco and DT Vollmer. Read the Executive Summary with the full text of the legal opinion available on the CCLI website here. CCLI’s press release is also available here. The legal opinion provides guidance on the legal obligations of directors of Canadian for-profit corporations in relation to nature-related risks and outlines how such risks fall within directors’ legal duties under Canadian law: Nature-related risks fall within core legal director duties. Under the Canada Business Corporations Act, directors must oversee foreseeable and material nature-related risks under established duties of care and loyalty. This includes physical (e.g. wildfires), transition (e.g. regulation), and systemic (e.g. ecosystem collapse) nature-related risks. Inaction could expose boards to liability. Directors who fail to identify or respond to material nature-related risks could face a wide range of legal action including claims for breach of duty, shareholder or creditor lawsuits, regulatory enforcement for misleading disclosure, greenwashing and consumer protection claims, negligence or nuisance suits, and liability for failing to respect Indigenous rights. Governance expectations are rising. Directors are not expected to be environmental experts, but they must be reasonably informed. Courts will expect boards to demonstrate a reasoned, informed, and well-documented approach to nature-related risks. Overseeing these risks is both a legal and strategic imperative. Effective governance means understanding the corporation’s nature-related dependencies and impacts, engaging relevant stakeholders and Indigenous rightsholders, and integrating nature into boardroom decision-making. Key expert insights: Lisa DeMarco, Senior Partner and CEO, Resilient LLP, and lead author of the legal opinion: “This opinion makes the legal position clear. Directors don’t need to be expert scientists or activists, but…

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Resilient Run/Walk on June 11, 2024

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Are you attending Carbon Forward North America in Toronto? Join Resilient LLP for an early morning run or walk on June 11, 2024 before the conference begins. Your Toronto Hosts: The Resilient LLP Team What: A fun and easy run (5-7km) or walk (3-4km) along the Toronto waterfront. Rain or shine! Where: Meet at 6:30am at Grange Park – Henry Moore’s Large Two Forms, right behind the AGO. After the run/walk, we’ll gather at Jimmy’s Coffee (166 McCaul St, at Elm). When: June 11, 2024, 6:30am (Conference registration starts at 8:30am, with the welcome address at 9:00am.) Apple  Google  Outlook RSVP: Let us know to expect you! (There is no obligation to RSVP in advance.) Please contact Lisa DeMarco (lisa@resilientllp.com) or Jonathan McGillivray (jonathan@resilientllp.com) with any questions or comments. We look forward to seeing you on June 11!

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Watch Lisa DeMarco at North American Climate Summit 2023

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Watch Resilient LLP’s Lisa DeMarco discuss important developments and insights on voluntary carbon markets during her interview on SmartMarkets™ as part of IETA’s 2023 North American Climate Summit (NACS) last September at Climate Week New York City. The interview explores the role of carbon markets to support corporate climate action and the need for increased (i) integrity, (ii) excellence and transparency, and (iii) ambition, and highlights the important work of the Integrity Council for Voluntary Carbon Markets and the Voluntary Carbon Markets Integrity Initiative to support and provide confidence to corporates and others to credibly use emission units, emission reduction units and removals towards emissions reduction targets. SmartMarkets™ has also compiled a selection of its NACS interviews (including Lisa’s interview) into a special episode (available here) covering how carbon markets support corporate strategy for climate action; how the challenges to operationalize the Article 6 markets, as well as the challenges to the reputation and growth of the voluntary carbon markets, affect corporate strategies; and what were the most important ideas being discussed at NACS.

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Public Policy Forum Publishes Article 6 Report

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We are pleased to announce the release of an Article 6 report published by Public Policy Forum, authored by Lisa DeMarco (Resilient LLP), Katie Sullivan (IETA), and Steve MacDonald (+SM). The report, entitled The Missing Article: How to Get Canada Back in the Game on Article 6, is available now on PPF’s website and sets out a pathway for Canada to maximize the opportunity and minimize the cost of energy transition through Article 6.

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Voluntary Carbon Markets Integrity Initiative Appoints Expert Advisory Group

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The Voluntary Carbon Markets Integrity Initiative (VCMI) yesterday announced that it is has appointed an Expert Advisory Group (EAG), which will provide advice to the VCMI Secretariat and Steering Committee ahead of the launch of its Claims Code of Practice later this year. VCMI launched its Provisional Claims Code of Practice in the middle of last year. Earlier this week, VCMI announced a partnership with Winrock International to produce an operable VCMI Claims Code of Practice for voluntary use of carbon credits. The purpose of the Claims Code of Practice is to provide clear guidance to companies and other non-state actors on when and how they can credibly make voluntary use of carbon credits as part of their net-zero commitments and climate mitigation strategies, and the claims they can make about that use.  VCMI said that EAG participants were invited to join the group due to the range of expertise they bring from across key sectors and geographies. Members include carbon market experts, environmental and sustainability professionals, Indigenous community leaders, and legal and accounting practitioners. Resilient LLP Senior Partner and CEO Lisa DeMarco is among those appointed to the EAG. The full list of EAG members is available on the VCMI website.   For further information or to discuss the contents of this bulletin, please contact Lisa DeMarco at lisa@resilientllp.com.

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