The leader of the Pacific island of Tuvalu said his nation would be flooded by rising sea levels and would cease to exist by 2050 under current emissions trends, though owners of any low-lying coastal property in the US or the rest of the world might have a claim. Bank of America analysts warn that oil , gas and coal companies are facing an escalating number of lawsuits for alleged climate abuse . The warning comes as global leaders gather in Paris for the United National " COP21 " climate summit to draw up sweeping plans to curb greenhouse gas emissions . Decisions in Paris are likely to include a plan to pave the way for zero net emissions , implying that most fossil fuel reserves booked by major oil , gas and coal companies can never be burned . Along with legal ramifications , the deal will also send a moral signal ; the Bank of England 's Governor , Lord Carney , warned last month that those who suffered losses from climate change might bring claims on third - party carbon insurance , forming a parallel with the legal claims in US courts that escalated to $ 85bn .
Bank of America analysts warn that oil , gas and coal companies are facing an escalating number of lawsuits for alleged climate abuse . The warning comes as global leaders gather in Paris for the United National " COP21 " climate summit to draw up sweeping plans to curb greenhouse gas emissions . Decisions in Paris are likely to include a plan to pave the way for zero net emissions , implying that most fossil fuel reserves booked by major oil , gas and coal companies can never be burned . Along with legal ramifications , the deal will also send a moral signal ; the Bank of England 's Governor , Lord Carney , warned last month that those who suffered losses from climate change might bring claims on third - party carbon insurance , forming a parallel with the legal claims in US courts that escalated to $ 85bn .