Insolvency and Climate Change

In this episode of the ⁠International Insolvency Institute⁠’s Global Perspectives podcast, we covered the interaction between insolvency law and climate change. Our expert panelists were Antonia Menezes (Senior Financial Sector Specialist at the World Bank Group, III Member) and Gabriel Olivera (O’Melveny’s, III NextGen member). After a short clarification on the terminology applicable to insolvency cases strictly connected with climate change issues, our panelists discussed the topic from a practical perspective. Mr Olivera discussed the importance and implications of the recent bankruptcies of Pacific Gas & Electric, as well as Basic Water Company. Ms. Menezes spoke about the role that MSEs may play in mitigating climate change, and what states can do to better equip these companies to deal with climate change issues. The podcast concludes with a discussion on the ramifications of climate change for the economy, as well as on the initiative currently undertaken by the World Bank to develop practical guidance on how to approach this issue from a statutory perspective. NextGen’s Chairperson, ⁠Adam Crane⁠ (Baker & Partners in the Cayman Islands), introduces this podcast, which has been moderated by Dr Eugenio Vaccari (Royal Holloway, University of London). The podcast was recorded in late April 2024, with information correct at the time of the recording.