RBA’s climate change speech hints at radical policy shift

The supply shocks associated with climate change must force a radical rethink in the way central banks set monetary policy, shifting focus away from inflation onto nominal growth.That is the view of Warwick McKibbin, an economist at the Australian National University and former board member of the Reserve Bank of Australia, whose work on the…

Net-Zero by 2050 — Report from Climate Majority Action

Investors are increasingly making the business case for taking action on climate change. The collective choice problem inherent in planet-wide environmental issues, amplified by the distorting impact of often-undisclosed political donations from corporate executives and billionaires (see our work on the fake dark money front group Main Street Investors Coalition) has left investors, particularly long-term, passive investors like…

Catherine Howarth is on a mission to hold asset managers to account | Financial Times

ShareAction’s work is diverse and she groups topics into three areas: pushing for change in investee companies, tracking progress and encouraging individuals to hold their funds to account. The first involves forming coalitions to tackle responsible investment issues. This includes ShareAction’s Workforce Disclosure Initiative, which presses large groups to provide quality data on supply chains…

Climate change tops the list of ESG concerns for investors in 2019 — PRI

Statement from PRI: The number of topics under the environmental, social and governance (ESG) umbrella is expanding. Emerging ESG concerns such as artificial intelligence, big data and cyber security are attracting more and more investor attention. Looking ahead to the remainder of 2019 and beyond, the PRI still sees climate change as the number one…

Investing in the Environment

The direction of this year’s Davos talks point to a subtle yet material shift of responsibility for the environment from public to corporate spheres. The WEF has gone so far as to issue a manual on Climate Governance for Corporate Boards, suggesting that it is for boards to monitor and mitigate related risks. While the…

Shareholder activism is on the rise, but companies are fighting back – CNN

VEA Vice Chair Nell Minow is quoted in a CNN story about shareholder activism and the way corporate executives are pushing back, including the fake front groups ACCF and Main Street Investors Coalition. Leveraging shareholder votes for environmental and social ends isn’t new, but such resolutions have been on the rise in recent years. Shareholders…

Jeremy Grantham’s $1 Billion Plan to Fight Climate Change – Bloomberg

Terrifying an audience is one of Jeremy Grantham’s specialties. The legendary investor, co-founder of Grantham Mayo Van Otterloo (GMO), is famous for predicting doom. And he’s famous for being right, with a remarkable record of spotting investment bubbles before they pop, notably the 2000 tech crash and 2008 financial crisis.These days, the topic of Grantham’s…

How to rescue the global climate change agenda | Financial Times

The depressing reality about climate change is that we could solve the problem, at manageable cost, but are failing to do so. This failure is due to a mixture of blindness and self-deception. The blindness comes from those, such as US president Donald Trump, who deny the reality of climate change. The self-deception comes from…

Report: Pensions in a Changing Climate

A new report from Share Action finds that pension funds are not doing an adequate job of disclosing climate risk in their portfolios. The most striking finding of our analysis reveals that over 60% of pension funds publish little or no information on their climate responses, placing them at risk of breaching their legal duties…