Legal Opinion on Climate Risk Duty of Care
Summary of Norton Rose Fulbright’s Opinion on Climate Risks In Property Transactions
Do Real Estate Lawyers in NSW owe their clients a duty of care to advise and warn in relation to climate risk?
Read the bite sized summary of the below Norton Rose Fulbright guidance to find out.
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Legal Opinion: Do Real Estate Lawyers in NSW Owe Their Clients a Duty of Care to Advise and Warn in Relation to Climate Risk?
Conveyancers and real estate lawyers play a central role in advising their client on any risks with their planned home or investment asset. Going forward, climate change represents perhaps the single greatest risk to both property values and peace of mind.
We commissioned Norton Rose Fulbright, the pre-eminent environmental law practice in Australia, to consider the duty of care and other factors for NSW legal professionals. Their findings, which are being considered by the Australian Law Commission and NSW Law Society, are available exclusively through Groundsure.
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About Groundsure: Enabling Climate-Driven Decisions for Legal Professionals
Australia is in the front line of climate change. Our communities and businesses have witnessed such extremes of flooding and bushfires in recent years and now is the time to take action and think ahead about what the future could bring. Our mission is to ensure that our climate-challenged society makes positive, sustainable and responsible land and property decisions. This starts with ensuring legal professionals are able to advise their clients effectively as part of the transaction due diligence.
Find out moreImpacts of Climate Change on Real Property Podcast
In this special edition of their environmental law podcast, Norton Rose Fulbright partner, Elizabeth Wild and special counsel, Sarah Mansfield, discuss how climate change impacts real property, including in terms of its value, insurability and development potential, and the advice that the legal profession should be providing to their clients in light of these impacts.
