New Research from Burford Capital: Businesses Prepare for Global Energy Transition Disputes
Description:
Nearly two in three GCs expect legal fees and expenses to exceed $4 million per energy transition case NEW YORK , Nov. 12, 2024 /PRNewswire/ — Burford Capital, the leading global finance and asset management firm focused on law, today releases new research entitled “Energy transition disputes: GCs and senior lawyers on the business impacts of legal challenges to come,” which demonstrates how businesses are preparing for a likely rise in legal disputes related to the global energy transition. This transition―or the shift to renewable sources of energy―is likely to cause an increase in expensive commercial disputes.
Businesses Strategize for Energy Transition Disputes
As the world moves towards renewable sources of energy, businesses are also gearing up for potential legal challenges that may arise during this global energy transition. With an expected increase in disputes related to the shift from traditional energy sources to renewable ones, companies are starting to strategize and prepare for potential legal battles that could cost them millions in legal fees and expenses.
According to the latest research from Burford Capital, more than two-thirds of General Counsels (GCs) anticipate that legal costs for energy transition cases could exceed $4 million. This staggering figure highlights the seriousness and complexity of the disputes that are expected to arise as a result of the energy transition.
Impacts on Individuals
For individuals, the rise in energy transition disputes could have various implications. Higher legal fees and expenses associated with such cases could potentially translate to increased costs for consumers. This could impact individuals in terms of higher prices for goods and services, as companies may pass on the costs of legal battles to their customers.
Global Ramifications
On a global scale, the rise in energy transition disputes could have significant implications for the business world and the economy as a whole. Disputes related to the transition to renewable energy sources could potentially disrupt industries, delay projects, and lead to uncertainty in the market. This could impact investment decisions, economic growth, and overall stability in the global economy.
Conclusion
In conclusion, as businesses prepare for global energy transition disputes, it is important for companies to proactively address potential legal challenges and seek strategic solutions to mitigate risks and costs associated with such disputes. By staying informed and prepared, businesses can navigate the complexities of the energy transition and ensure a smooth transition to renewable sources of energy.
