Press and Media
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Global investors launch guide to drive engagement on climate risk with the electric utilities sector
A week after more than 170 countries signed the Paris Agreement and investors voted on a shareholder climate risk resolution at the AGM of US utility AES Corporation, a global network of more than 270 institutional investors (representing assets worth over €20 trillion) has published a guide setting out the threats facing the utilities sector and investor expectations for how these companies must act to adapt their business strategies to a 2°C climate change pathway.
EPA Administrator Gina McCarthy, Sen. Sheldon Whitehouse D-RI, Oil Industry Expert Amy Myers Jaffe, Food Tank’s Danielle Nierenberg and Fortune 500 Business Leaders to Headline Ceres Conference
On the heels of the historic signing of the Paris Climate Agreement, the nonprofit sustainability group Ceres will bring together 500 business, investor and nonprofit group leaders to discuss how leading businesses in key industries are responding to sustainability challenges and combating climate change threats on a rapidly warming planet.
“Today will be marked not only as Earth Day, but the day that our world rebooted to set our climate back on track,” Ceres president Mindy Lubber said Friday at the historic signature ceremony of the Paris Agreement on climate change at the United Nations.
Blogs and Columns
When it comes to addressing climate change impacts to Berkshire Hathaway’s insurance business, Warren Buffett paints a somewhat misleading picture that minimizes the business risks posed by a demonstrably changing climate. In doing so, Buffett begs serious questions about his company’s planning for climate impacts and undermines confidence in the insurance division’s climate resilience.
Yesterday at the annual meeting of utility AES, shareholders had their first chance to vote on a resolution asking a U.S. based company to stress test its investments against the low carbon future that the Paris agreement will help bring about. The resolution received support from 42% of investors, the highest vote ever for a 2 degree stress testing resolution in the U.S.
Six years ago, the SEC took one giant step toward acknowledging climate change as a financial risk and opportunity for markets. Their formal guidance on climate risk discusses climate risks, how they are material, and how they are disclosed—but the SEC has almost nothing to enforce that guidance.
A growing list of major investors is backing calls on ExxonMobil to acknowledge climate risk, after its credit rating was downgraded on Tuesday. British insurer Aviva and Seattle’s public pension fund are among the latest to declare their support for a shareholder resolution to be considered at next month’s AGM. California’s CalPERS, New York City Pension Fund and the Church of England are also in favour.
Earth Day 2016: Paris Climate Agreement To Be Signed By Over 150 Countries At UN Ceremony In New York
Leaders from more than 150 countries are set to gather in New York City on Friday to sign the landmark climate change deal struck in Paris last year. The event will be the latest in a series of steps to transform the global accord into an actual tool for combating greenhouse gas emissions and boosting the use of cleaner energy.
The deal 195 nations finalized in December in Paris may be the most important climate agreement ever reached, but pockets of corporate leaders, financial regulators and money managers remember it for another reason: a shift in how the business community views global warming.
This three-part podcast series focuses on the ethics of supply chain management and the evolving impacts on human rights. This episode looks at a recent Securities and Exchange Commission (SEC) rule requiring all companies listed on U.S. stock exchanges to disclose the origin of four key minerals—tin, tungsten, tantalum and gold. Found in most consumer electronic devices, as well as the aerospace, automotive and heavy manufacturing sectors, these minerals contribute to ongoing political violence, illegal trafficking and devastating human rights violations in the DRC.
Ceres, along with Oxfam America and Calvert Investments, released a new guide to help improve corporate disclosure and management of financial impacts of climate change and help investors make more informed investment decisions. This week, we speak with Bennett Freeman, Senior Vice President of Sustainability Research and Policy at Calvert Investments about the new guide and what it means for companies and investors alike.