A new practice note on climate change is being developed for conveyancers following publication of landmark guidance, the Law Society's flagship property conference has heard.

Society president Lubna Shuja told the event yesterday that climate change was not just an important topic for solicitors but society as a whole.

Environmental, social and corporate governance is a growing area of concern for partners and fee earners, Shuja said. 'It's not just about how you operate ethically - [the firm's] carbon footprint and how you give advice - but how you advise clients on the impact of climate change. We know lenders are positioning climate change as a tier one risk. They are actively reviewing their portfolios and assessing future impacts on residential and commercial property transactions… It is really important we keep up to date with the latest developments.'

Society policy adviser Alasdair Cameron told a panel discussion on the milestone guidance that Chancery Lane was looking at the issue of professional indemnity insurance as part of its forthcoming practice note, such as where professional duties begin and end. 'The practice note will go into the ability to get into what risks should be considered. We have just finished consulting with a number of stakeholders, many of whom are solicitors.'

In the meantime, Cameron suggested practitioners concerned about how climate change might affect insurance should look at The Chancery Lane Project's 'Marni's clause' - which proposes additions to standard reports on title to reflect the results of a climate search for the property.