A binding set of ethical rules to help fix the climate?

As noted in this NY Times article, former Simpson Thacher lawyer turned climate activist Jaime Gamble blames the law for a lot of what has gone wrong in trying to combat climate change. That the law has handcuffed companies from considering anything beyond shareholder primacy. That kind of talk certainly isn’t new. Jaime’s proposal is…

Read More

Renewable energy is becoming much cheaper

Here’s a note from Mark Campanale, Founder and CEO of the Carbon Tracker Initiative: Delighted to see Bill McKibben writing about Carbon Tracker in his latest column in the New Yorker. “…if you want real hope, the best place to look may be a little noted report from the London-based think tank Carbon Tracker Initiative. Titled “The…

Read More

How COVID disclosures provide a climate risk disclosure roadmap

– How companies approach COVID risks is similar to how they can approach climate risks – Here’s a simple disclosure roadmap that you already have at hand to evaluate climate change risk for SEC disclosures Here’s a write-up from our advisory board member, Ginny Fogg: There is lots of debate on the “when,” “where” and…

Read More

How psychology might explain what’s holding a board back

– Boards should learn about authority bias, groupthink, status quo bias and confirmation bias so they don’t fall into those traps. – 43% of directors on boards with an executive chair said it was difficult to voice a dissenting view—compared to just 35% on boards with an independent chair. This PwC memo is an interesting…

Read More

What will be the impact of the “Sustainability Standards Board”?

– The SSB will create a global standard, which is ideal to tackle a global problem. – To be effective, the SSB’s standards must be mandatory globally. Here’s a note from Sarah-Jayne Dominic of the Financial Reporting Council about the SSB: A good article summarizing the development of a Sustainability Standards Board (SSB) by the…

Read More

Vermont files a bevy of fossil fuel lawsuits

Today, Wachtell Lipton sent around this memo about a new development regarding climate lawsuits: Companies in the United States and elsewhere continue to face extreme pressure to respond to climate change, with respect to both business operations and disclosures. In the most recent U.S. development on this front, the State of Vermont yesterday brought civil…

Read More

2/3 say the environment matters (is that enough?)

– 2 in 3 global respondents say environmental issues are significantly important to them personally. – 84% of global consumers consider sustainability important when choosing a brand. Boards need to know how their employees, customers and suppliers think about ESG when they strategize. Here’s a note from Andreas Posavac, the Executive Director for IHS Markit’s…

Read More

Engine No. 1’s “Total Value Framework” now available

As Ross Kerber reports in this Reuters article, Engine No. 1 – which has about $430 million in assets under management – has released a “Total Value Framework” for investing that pushes for a value to be assigned to how corporate activities affect climate and society. Here’s an excerpt from that article: In the white…

Read More