Australia's fall from grace as a global leader in the fight against dangerous climate change was rapid and inglorious.

But any Australian business leaders who think they got away with sticking their heads in the sand should think again.

New legal advice by senior Sydney silk Noel Hutley being released on Monday, suggests it is almost certain that directors of an Australian company will one day face legal action for neglecting to properly account for the potential impact of climate change on their business.

"It is likely to be only a matter of time before we see litigation against a director who has failed to perceive, disclose or take steps in relation to a foreseeable climate-related risk that can be demonstrated to have caused harm to a company (including, perhaps, reputational harm)," the advice, commissioned by the Centre for Policy Development and the Future Business Council, titled "Climate Change and Directors Duties" concludes.