The funding application was submitted by Dr. Eugenio Vaccari together with Dr. Elizabeth Streten (Queensland University of Technology, Australia).

Dr. Eugenio Vaccari (Senior Lecturer at Royal Holloway, University of London) and Dr. Elizabeth Streten (Lecturer, Queensland University of Technology) have secured a £18,000 grant from INSOL International for their collaborative research project titled "Climate Change: New Duties and Liabilities in Insolvency?"

This project examines the intersection of climate change and insolvency law, focusing on how adaptation and mitigation policies are reshaping the duties and liabilities of directors, insolvency practitioners, and judges during insolvency and restructuring procedures. As climate risks become increasingly urgent, the project aims to highlight the necessary evolution of legal frameworks to integrate climate-related considerations effectively into insolvency processes.

The research will deliver a comprehensive analysis of laws, judicial decisions, and emerging legal trends across a range of key jurisdictions, including Africa (selected regions), Australia, the European Union, India, China, South America (selected countries), the UK, the USA, and Canada.

The study will focus on four key areas:

• The evolving responsibilities of directors in addressing climate risks, particularly in the context of insolvency and restructuring.
• The role of insolvency practitioners in managing climate-related financial risks and opportunities during restructuring processes.
• The extent to which judges must consider climate change policies when making insolvency-related rulings.
• Potential conflicts between insolvency and restructuring objectives and climate policies, with recommendations for reconciling these conflicts and justifying why such alignment is necessary.

The primary goal of the project is to equip legal practitioners with clear, actionable insights into how climate change is influencing their professional duties and liabilities in insolvency procedures.

Scheduled to begin in January 2025, the project is expected to run for approximately 30 months.