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The investigation is the latest in a growing tide of climate liability cases being brought against governments and corporations.
Naomi Ages, climate liability campaigner at Greenpeace, said Buffett is making a false comparison between inflation and climate risks, which are far more unpredictable.
In what was the first climate liability suit brought under human rights and tort law, Judge Hans Hofhuis told the court that the threat posed by global warming was severe and acknowledged by the Dutch government in international pacts.
In June, the Netherlands' high court ruled on the world's first climate liability suit, ordering the Dutch government to take stronger action against climate change to better protect its citizens.
"If climate liability is difficult or impossible to litigate under the current legal system, then change the law," he and two co-authors wrote in their recent journal article.
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Law professors from the University of Calgary and Dalhousie University published an article earlier this year in the Georgetown Environmental Law Review looking at whether "comparisons between tobacco and climate change liability withstand scrutiny".
"The law has so dramatically changed the liability climate that insurers will likely exclude coverage for lead-based-paint claims in their coverage," he said.
In a report issued last year, Swiss Re, an insurance giant, compared the suits to those that led dozens of companies in asbestos industries to file for bankruptcy, and predicted that "climate change-related liability will develop more quickly than asbestos-related claims".
Given somewhat conflicting results in prior literature, our analysis is valuable in that it provides insight into the ongoing debate regarding how the medical professional liability climate ultimately influences the health insurance market.
Karl, Born, and Viscusi [18] also find that the professional liability climate has a non-trivial influence on the dollar amount of state-level health insurance losses per capita, though their results suggest that lower levels of professional liability exposure are associated with higher levels of health insurance losses.
Environmental Research Letters, May 2015"Liability for climate change".
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