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Fossil fuel companies risk plague of 'asbestos' lawsuits as tide turns on climate change
The UN says the world is poised for a sweeping climate deal in Paris. 'It is unstoppable. No amount of lobbying is going to change the direction'

Oil, gas and coal companies face the mounting risk of legal damages for alleged climate abuse as global leaders signal an end to business-as-usual and draw up sweeping plans to curb greenhouse gas emissions, Bank of America has warned.
“Some investors, such as philanthropic trusts and foundations, will also have to consider whether continuing to invest in high-carbon assets represents a significant conflict to their overall mission and objectives"
Prince of Wales
Investors in the City are increasingly concerned that fossil fuel groups and their insurers are on the wrong side of a powerful historical shift and could be swamped with exhorbitant class-action lawsuits along the lines of tobacco and asbestos litigation in the US.
“It is setting off alarm bells that there could be these long tail risks,” said Abyd Karmali, Bank of America’s head of climate finance..