In September 2015, then Bank of England Governor Mark Carney gave a landmark speech on the “Tragedy of the Horizon.” The concept was simple: climate change creates tremendous risk for financial markets, but these mounting risks are ignored by investors due to the market’s tendency towards myopia. The speech marked […]
Climate Finance
10 posts
2023 is a significant year for corporate climate disclosure rules: regulators around the world are issuing or strengthening their disclosure requirements for registered companies pertaining to sustainability and climate-related financial risk. In Europe, the European Commission plans to finalize initial reporting standards for corporate sustainability reporting by June. UK regulators […]
On February 9, 2023, ClientEarth filed a derivative action against the Board of Directors of Shell at the High Court of Justice in England and Wales (ClientEarth v. Shell’s Board of Directors). The lawsuit alleges that the Board has failed to manage material and foreseeable climate risks, therefore breaching UK […]
The federal Department of Labor (“DOL”) issued a final rule on Tuesday, November 22, allowing plan fiduciaries to consider climate change and other environmental, social and governance (“ESG”) characteristics when they choose investments and exercise shareholder rights, reversing a Trump-era rule that sought to constrain this type of risk […]
Over 150 business climate collaborations have arisen in recent years as the private sector has begun to grapple with its role in combatting climate change. The functions of these associations range from establishing shared net zero targets to developing frameworks for carbon accounting. As these groups have proliferated, they […]
On Monday, March 21, the Securities and Exchange Commission (SEC) proposed new rules aimed at enhancing public companies’ disclosure of climate-related risks. The proposed rule, which was supported by three of the four sitting SEC Commissioners, notes that “climate-related risks have present financial consequences that investors in public companies […]
By Peter Lehner, Managing Attorney, Sustainable Food and Farming, Earthjustice February 2019 Roughly every five years, Congress revises and renews the Farm Bill to fund our nation’s food security, nutrition, and farm conservation programs. The 2018 Farm Bill, which passed with large bipartisan majorities in both chambers, is surprisingly climate-conscious. Its successes will […]
Five sports entities explained why they have become industry leaders by engaging with voluntary carbon offset markets at Friday’s Sports and Climate Change Summit. The New York Yankees, New York Mets, NASCAR, U.S. Tennis Association (USTA), and Major League Soccer (MLS) are each purchasing carbon offsets from cookstove projects in […]