Climate Risk

3 posts

The Tragedy on the Financial Horizon is Closer Than You Think

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 […]

DOL Rule Clarifies that ESG Analysis is Consistent with Fiduciary Duty. Will it Preempt State Anti-ESG Laws?

  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 […]

Federal Agencies Must Consider Climate Risk in Environmental Reviews under NEPA

This post was co-authored by the Sabin Center’s Romany Webb and Stephanie Jones and Michael Panfil of Environmental Defense Fund. From pipelines destabilized by melting permafrost to power line-sparked wildfires exacerbated by drought, the impacts of climate change are affecting infrastructure across the U.S. and heightening the risks it poses […]