In one of its most anticipated rules, the SEC last month adopted a requirement for companies to disclose climate-related risks, completing a process that began two years ago with the release of the agency’s proposed climate disclosure rule. While the final rule is more narrow than initially proposed, it requires publicly traded companies to disclose […]
Blackrock CEO Larry Fink last week released his annual shareholder letter, which has become an annual media event closely scrutinized as much for its political implications as its investment insights. In this year’s missive, he briefly discussed the energy transition – the process of reducing the world’s reliance on fossil fuels in favor of low-carbon […]
Warren Buffett’s annual letter to shareholders of Berkshire Hathaway is required reading for investors of all kinds, both for its investment insights and Buffett’s folksy wisdom on many subjects. In his wide-ranging letters, there’s one topic that’s seldom mentioned – climate change. That is until this year, when Buffett warned that wildfire-related losses at […]
The annual climate conference (COP28) concluded this week, and it succeeded in doing what few thought possible: saying the world needs to end the use of fossil fuels. That achievement is all the more remarkable when you consider the persistent cloud of doom that shrouded the event. Whether it was worries the hosts were mainly […]
As we look back on 2023, one of the most significant events of the past year was the demise of ESG investing. Or, to be more precise, the end of the term itself. That’s a good thing, because it will open the way to greater clarity and accountability about investment risks. The term ESG has […]
When it comes to climate regulations, if you’re only watching the SEC you could be caught by surprise. Because while the SEC recently delayed its final rules on climate disclosure until later this year, the European Union (EU) is moving ahead with new rules on climate, sustainability, corporate responsibility and business transparency. The new rules […]
The headlines marking the end of the COP26 global climate summit were mostly gloomy, much like the weather in Glasgow. Reports focused on unenforceable pledges by countries to cut carbon levels and tepid increases in funding for poor countries most affected by climate change. But there were significant accomplishments last week in Glasgow and beyond. […]
Is a new day dawning at Exxon? Exxon shareholders elected two directors backed by an activist shareholder who called for changes in the oil giant’s response to climate change. It’s the first proxy campaign at a major US company where directors were the target and climate change was the issue. Anne Simpson of the California […]
Sometimes the most important news gets the least attention. Yesterday, to little fanfare, IHSMarkit, a financial data company, announced it would introduce a global registry for carbon credits using distributed ledger technology. It would link various registries around the world and provide a single data set for all projects and credits. Why is this so […]
We’ve written about the carbon market over the years. We’ve asked, for example, whether blockchain technology could boost its growth. We’ve highlighted the success of California’s cap-and-trade system, and we’ve suggested that the carbon market shares a lot of similarities with another asset class that grew from humble beginnings – emerging-market debt. Today, the carbon […]