Shares in Pacific Gas & Electric took a beating this week as investors reacted to its potential financial exposure to wildfires in California. It is risk the company has openly identified, but investors seemed caught by surprise. The episode could mark the end of investor complacency about climate risk. Earlier this week, the big […]
Bloom Energy reports earnings tomorrow, its first since completing an IPO in late July. Besides the financial results, investors will be watching to see how the CEO copes with the spotlight. His debut wasn’t encouraging. In an interview after the IPO, CEO KR Sridhar said the company was profitable on a GAAP basis as of […]
It’s been a year since the Task Force on Climate-related Financial Disclosures (TCFD) released its recommendations. Backed by the G20 finance ministers and chaired by Michael Bloomberg, the TCFD offered concrete guidance for public companies on how to report risks and opportunities arising from climate change. The TCFD left no doubt that boards have an […]
Warren Buffett and Jamie Dimon are at it again. The pair joined forces today on a WSJ op-ed to call for an end to earnings guidance. Is this really the best advice they have to offer given the issues that dominate boardrooms today?
The New York Times has found a solution to global warming. Well, maybe not. But it has revealed a misguided approach to covering climate change, one that is quick to embrace homespun narratives while overlooking difficult data.
Warren Buffett’s annual shareholder letter was full of folksy charm and investment wisdom. But it had little to say about how he and the Berkshire Hathaway board are handling climate risks for the sprawling conglomerate.
This is the time of year when corporate directors sweat. They are anxiously finalizing the annual report and proxy materials that will present the company’s financial results and risks for all to see. This year directors have an added challenge: meeting investor expectations to disclose material climate-related risks. The pressure from investors is real. Blackrock, […]
Bank regulators live in obscurity, diligently keeping the wheels of finance spinning. Then a crisis arrives, and they are thrust into view. No one embodied that more than William McDonough, former head of the NY Federal Reserve Bank, who died last week. He is perhaps best known for quelling the market panic when a big […]
With the stock touching levels last seen 20 years ago, this isn’t the transition GE shareholders were hoping for. But it is also a warning of what could be in store for another iconic conglomerate when its long serving CEO steps down.
Democratic victories in last week’s elections have given new life to efforts to combat climate change through cap-and-trade systems. Advances in distributed ledger technology could kick them into high gear.