Deutsche Bank aims to raise €1bn from socially responsible products https://t.co/ej36dJXLrK June 19, 2016— BizDeansTalk (@BizDeansTalk) June 22, 2016
Deutsche Bank aims to raise €1bn from socially responsible products https://t.co/ej36dJXLrK June 19, 2016— BizDeansTalk (@BizDeansTalk) June 22, 2016
Two of us (Suntae Kim and Todd Schifeling) conducted research to build a more robust understanding of the rise of B corporations.
to prove that they are more genuine, authentic advocates of stakeholder benefits. For instance, certifying firms often highlighted how B corporation certification would help them stand out “in the midst of a ‘greenwash’ revolution”...
believed “the major crises of our time are a result of the way we conduct business,” and they became a B Corporation to “join the movement of creating a new economy with a new set of rules”
Stand out “in the midst of a ‘greenwash’ revolution”:
Investments in renewable energies (with the exception of bioenergy) are characterised by high upfront costs and low operational costs. Once an investment decision has been taken, investors have little room for adapting it to changing regulatory and market conditions. Political or regulatory uncertainty increases the risk for investors, and consequently raises the cost of capital,38 making the overall investment more costly.39 Some Member States have made retroactive changes to their RES support schemes, which has undermined investors' confidence.40
This paper analyses the development of renewable energy sources (RES) in the EU, with a focus on support mechanisms at the EU and Member State level, including current and upcoming reforms. It presents the principal support mechanisms for RES, as well as developments in selected Member States, outlines the main technical and regulatory challenges associated with an increasing share of renewable energy and highlights the involvement and positions of the European Parliament. The development of renewable energy sources (RES) is a priority for the European Union. One of the goals of the EU Energy Union strategy is making the EU the world leader in renewable energies
Investors give unprecedented voting support 4 climate ‘stress-test’ at ExxonMobil & Chevron annual meetings today https://t.co/itCBLzn8C3— George Serafeim (@GeorgeSerafeim) May 25, 2016
@PaulPolman, CEO Unilever, 29 May 2016
RTd by @GeorgeSerafeim
Corporate Sustainability: First Evidence on Materiality Mozaffar Khan, George Serafeim, and Aaron Yoon (HBS)
Khan, Mozaffar N., George Serafeim, and Aaron Yoon. "Corporate
Sustainability: First Evidence on Materiality." Harvard Business
School Working Paper, No. 15-073, March 2015.
An increasing number of companies make sustainability investments, and an increasing number of investors integrate sustainability performance data in their capital allocation decisions. To date however, the prior academic literature has not distinguished between investments in material versus immaterial sustainability issues. We develop a novel dataset by hand-mapping data on sustainability investments classified as material for each industry into firm-specific performance data on a variety of sustainability investments. This allows us to present new evidence on the value implications of sustainability investments. Using calendar-time portfolio stock return regressions we find that firms with good performance on material sustainability issues significantly outperform firms with poor performance on these issues, suggesting that investments in sustainability issues are shareholder-value enhancing. Further, firms with good performance on sustainability issues not classified as material do not underperform firms with poor performance on these same issues, suggesting investments in sustainability issues are at a minimum not value-destroying. Finally, firms with good performance on material issues and concurrently poor performance on immaterial issues perform the best. These results speak to the efficiency of firms’ sustainability investments, and also have implications for asset managers who have committed to the integration of sustainability factors in their capital allocation decisions.
RTd by PwC_sustainability @PwCclimateready
Tweets by @malcolmhpreston
World Oil companies are pressed to address climate change - MIT +BCG report May 12 https://t.co/TihrfEtQSV— BizDeansTalk (@BizDeansTalk) May 12, 2016
Encouraging study from MIT & BCG -"Investing For a Sustainable Future "https://t.co/s4QWgxcyAP— Mark Tercek (@MarkTercek) May 13, 2016
A bacterium that degrades and assimilates poly(ethylene terephthalate) (plastic) March 11 Kyoto University, https://t.co/COcHF9d9sA— BizDeansTalk (@BizDeansTalk) March 12, 2016
via El País, marzo 10, “Descubierta una bacteria capaz de comerse un plástico muy común”https://t.co/XmLBDTqaiD— BizDeansTalk (@BizDeansTalk) March 12, 2016
The Invisible Hand Won’t Solve the Climate Crisis. Capitalism Must Evolve. https://t.co/rV50cJSlC9— Andrew Hoffman (@HoffmanAndy) February 15, 2016
Quants are the new ethical investors Quantitative analysts-> environ, social & governance factors 2 - inefficiencies https://t.co/PNftNSRCD4— BizDeansTalk (@BizDeansTalk) January 25, 2016
2) https://t.co/NFvvX5Ai6C 2 help identify potl risks assoc with transition to a low carbon economy,representing perf of broad equity market— BizDeansTalk (@BizDeansTalk) January 25, 2016
“Nevada decision”Borenstein, prof Haas,:“net metering- inefficient&opaque way 2++ growth of low-greenhouse-gas tech https://t.co/68BLqdAPf4— BizDeansTalk (@BizDeansTalk) January 9, 2016
Many studies have examined the costs and benefits of net metering for both utilities and solar-owning customers, and their conclusions vary widely. A study carried out for the Nevada Public Utilities Commission found that net metering for systems installed between 2004 and 2016 would provide a benefit to non-solar owners of $36 million over the life of the systems. Others, however, have calculated that rooftop solar increases costs to the grid that surpass the value of the power. Responding to the Nevada decision, Severin Borenstein, a professor at the University of California at Berkeley’s Haas School of Business, wrote that “net metering is an inefficient and opaque way to support the growth of low-greenhouse-gas technologies, and should be replaced with more direct and transparent subsidies.”
Severin Borenstein recognized for contributions to the field of energy economics: Haas professor Severin Borenstein… https://t.co/VkAkPk9kpD— Berkeley News (@berkeleymedia) November 19, 2015
20 November 2015
The plan is for the new company, called i(x) Investments, to invest in early-stage and undervalued companies that are working on issues such as clean energy, sustainable agriculture and water scarcity...
ROBERT B. REICH is Chancellor’s Professor of Public Policy at the Richard and Rhoda Goldman School of Public Policy at the University of California, Berkeley, and senior fellow at the Blum Center for Developing Economies. He has served in three national administrations and has written fourteen books..
(Deckle Edge, September 29, 2015, 304 pages)
“This is an important and provocative book about the erosion of America’s middle class by one of the nation’s most astute and passionate social critics. Reich provides an original and compelling analysis of how the rules governing America’s form of capitalism have contributed to growing income inequality and of how these rules have been distorted by the role of money in the U.S. political system.” —Laura D’Andrea Tyson
“Robert Reich has written a riveting guide to how our economic and political system has become so badly flawed, distorted by pervasive rent seeking and monopolies. He explains our rising inequality and our poor economic performance. Wholesale reform is needed—far beyond the usual prescriptions of raising the minimum wage and spending more money on education.” —Joseph Stiglitz
“Robert Reich sets the terms for new and more productive debates by rediscovering the political roots of the economic arrangements we too often take for granted. Everyone concerned with our economic future will need to grapple with Reich’s arguments in 2016 and beyond.” —Lawrence H. Summers
This is not a commercial for "Saving Capitalism: For the Many, Not the Few" pic.twitter.com/EokxNVr6qb— Robert Reich (@RBReich) November 7, 2015
Here's a talk I gave a few days ago at the Business for Social Responsibility conference in San Francisco. Hope... https://t.co/OXgjoqZbDH— Robert Reich (@RBReich) November 9, 2015
September 24, 2015
It’s the fourth day of Climate Week NYC, and the big corporate commitments keep rolling in. On Wednesday, nine Fortune 500 companies pledged to meet 100 percent of their electricity needs using renewable sources. Later that day, nine more linked up with the World Resources Institute and WWF to spur progress on renewables.
The firms — Amazon, DuPont, Equinix, Etsy, Intuit, Microsoft, Sealed Air, Starbucks and Starwood — signed on to the Corporate Renewable Energy Buyers’ Principles, developed by large energy buyers as a way to advance renewables and add their perspective to the future of the U.S. energy system.
But, along with going 100 percent renewable, sustainability leaders are asking politicians and the business community to consider another number: zero.
La empresa multinacional Siemens ha anunciado que quiere ser la primera empresa del sector industrial del mundo en lograr una emisión cero de carbono en el año 2030. Para ello, la compañía invertirá alrededor de 100 millones de euros en los próximos tres años.
Robert Eccles has been trying to change the nature of corporate reporting for more than 20 years. He has been an advocate for supplementing financials with information on non-financial factors that are leading indicators of financial results – such as product development, customer satisfaction and the development of intangible assets.
The premise is those companies that do so, perform better.
Eccles is the Professor of Management Practice at Harvard Business School, the founding chairman of the Sustainability Accounting Standards Board ( www.sasb.org ) and is a member of the steering committee of the International Integrated Reporting Council. ( integratedreporting.org )
February 16, 2015
This is the fourth of six questions from a roundtable discussion with the directors of sustainability research centers at six top business schools.
In this complimentary series you’ll discover:
The 6th Annual Alliance for Research on Corporate Sustainability (ARCS) Conference, hosted by the Samuel Curtis Johnson Graduate School of Management at Cornell University, will be held Wed. May 7 - Fri. May 9, 2014. The ARCS Conference brings together scholars from across disciplines, focused on advancing rigorous academic research on corporate sustainability topics. The conference will include a variety of paper presentations, Research Roundtables, and the awarding of the inaugural ARCS Sustainability Scholar Award and ARCS Conference Best Paper Award.
(Click on the two images for zoom)
Sir Richard Lambert, former Director General of the Confederation of British Industry, currently Chancellor of Warwick University and senior independent adviser to Deutsche Bank. He was a Member of the Bank of England’s Monetary Policy Committee, before which he worked at the Financial Times, serving as Editor when the successful US version of the newspaper was launched. He was commissioned by the Government to write the Lambert Review of Business-University Collaboration in 2003.
Research Interests: environmental law and policy, environmental dispute resolution, legislation and statutory interpretation, administrative law, the regulatory state, private environmental governance
Why climate change "needs to be framed as a national security issue.” http://t.co/zvPhTWXutC— Knowledge @ Wharton (@whartonknows) August 21, 2014
... what I suggest in my paper, “The Military Environmental Complex,”...
...“I think what sets my research apart, in part, comes from where I’m situated and what my background is. Most lawyers who decide to become professors go on to teach in law schools, but I chose to come to a business school. Obviously, my research is very connected to the idea of the role that business plays in society. I think what sets my research apart, in part, is the fact that I’m kind of bridging these two worlds and trying to have a conversation, not only with other legal scholars, but also with business and management scholars...
The BC3, Basque Centre for Climate Change, has been ranked second place in the Climate Think Tank Ranking, ahead of 293 public and private organisations working in the field of climate change economics and policy.
BC3 es un centro de investigación multidisciplinar que fue creado en 2008 en el marco del programa BERC del Gobierno Vasco y apoyado por la Universidad del País Vasco, con el objetivo de fomentar la excelencia en la investigación a largo plazo de las causas y consecuencias del cambio climático.
The London School of Economics and Political Science
Samuela Bassi and Dimitri Zenghelis
Centre for Climate Change Economics and Policy
Grantham Research Institute on Climate Change and
However, the case for lowering the ambition of climate change efforts, as a weakening of the Fourth Carbon Budget would imply, is not justified by competitiveness concerns, not least because of the negative impacts this would have on some of the economy’s fastest growing and most promising and innovative sectors. Uncertainty about the future climate policy framework could potentially cost jobs and affect growth, especially in the current macroeconomic environment. (end of paper)
Video with English subtitles:
"While many companies' dedication to social responsibility and sustainability are genuine, consumers should always take "greenwashing" (or "causewashing") into account — that is, when a company markets itself as charitable, only to draw in customers."
Safeguarding this critical zone was the focus of a recent meeting in Beijing, where the National Science Foundation of China met with their counterparts in the US, UK, France and Germany. The aim was to develop an Apollo-scale programme to tackle the resource constraints that threaten to undermine global economic development...
We have 10 years because many solutions will take at least a decade to take effect, and because we have only 20 years before the perfect storm of food, water and energy shortages (Above document) makes landfall.
The first step must be to create a theory. This would literally be a map of all of the processes and interactions that matter for sustaining life, including the flow of energy, nutrients and water in the landscape; competition between animals, plant and humans for these resources; losses in the form of greenhouse gas emissions to the atmosphere; the role of soil in recycling nutrients; and the feedbacks between life and the physical environment including climate regulation and environmental engineering.
With such a map, scientists, businesses and decision-makers from all backgrounds can navigate and talk together. Each can see how their contributions and needs fit with those of others as the picture evolves.
Day1. Here and Now: 100 ways over 100 days to reimagine the MBA as a tool for creating more sustainable leaders… http://t.co/vYU09hOsdx— Giselle Weybrecht (@gweybrecht) June 23, 2014
'If trends continue, we are going to lose lots of species. But the paper is about ways to avoid that'
The world's plant and animal species are going extinct at a rate 1,000 to 10,000 times faster than they did before humans came along. If that continues, we could lose one-third to half of all species by the end of the century. A variety of birds, frogs, fish, mammals — gone.
Those grim statistics come from a big recent study in Science (30th May, 2014), led by Duke University biologist Stuart Pimm. The paper was the most comprehensive attempt yet to calculate a "death rate" for the world's species — an update on work first begun in 1995...
BP: So extinction rates are higher now that humans are around. Why? What are we doing?
If that continues — and continues for many decades — then by the end of the century we are going to lose one-third or one-half of all species. And that kind of loss in biological diversity hasn't been seen in 60 million years...
But what the paper is about mostly, is ways in which we can avoid that. So yes it's bad, but the paper is full of important news about how we can make a difference.
BP: Let's talk about that, then. What are ways to avoid — or at least mitigate — mass extinction.
...SP: Yes, it gives us a practical solution. What my NGO does, Saving Species, is we take our data and identify exactly where we think the most important fragments are. And then we raise money from Brazilian conservation groups to buy up the land between the fragments and reforest it. So we reconnect it — stitching habitat fragments to form much bigger habitats...
...SP: We do have an extraordinary piece of technology for surveying biodiversity — it's called a smartphone...
...SP: I'd say things like the Endangered Species Act and conservation biology have been very successful. Current extinction rates are high, but they'd likely be worse without the work of conservation biologists...
...A good example: Brazil used to be the third largest emitter of greenhouse-gas emissions from burning its forests. But with a bilateral agreement from the Norwegian government, Brazil has massively reduced its deforestation....
...We can map out where species are. We can also figure out where they're not likely to be because we've got increasingly good data on deforestation from Joe Sexton's research group at the University of Maryland...
Brrroooommm https://t.co/Vigi7c28td— Pau Garcia-Milà (@pau) June 14, 2014
en.wikipedia.org/wiki/Tesla_Model_S - It scored a perfect 5.0 NHTSA safety rating
4 Apr 2014
The Tesla Model S is the most important car Top Gear has tested. Let's just throw that out there. A handsome if generic-looking exec hatch, it threatens to do to the traditional car industry what Amazon did for retailing and Apple's iTunes infrastructure did to the music business - utterly rewire it.
The mainstream media loves Tesla's CEO, Elon Musk, a man who is two-parts real-life Tony Stark to one-part Steve Jobs. The guy made a billion from Paypal, has his own space exploration company, and recently proposed the Hyperloop high-speed transportation system. He also used to own a McLaren F1, so rest easy - he ‘gets' cars the way we do. But, rather than build a ridiculous vanity supercar, he decided to apply 21st-century Silicon Valley thinking to a technology model and industry that epitomises the 20th century. Following the slightly tentative Tesla Roadster, the results are game-changing.
Add the Performance Pack, whose higher-capacity inverter boosts torque to 443lb ft and power to the equivalent of 416bhp (probably more, in fact), and you've got an all-electric car with the same step-off and start-line grunt as a Porsche Turbo.
Everything about the Model S is reassuringly familiar and utterly bewildering at the same time. You get in, select D and go. You don't even turn it on. There's no handbrake, no paddleshift and, wind and tyre rush apart, no noise. A tentative squeeze on the accelerator pedal is like dipping your toe in a reservoir of torque, but better to build up to it gradually. Back off and there's a hearty slug of regenerative braking. Pretty soon, you'll only be using the brakes to come to a complete halt in traffic.
...usefully low centre of gravity.
It's not a sports car, though. Yes, it'll warp like a spaceship to 62mph in just over four seconds, and it keeps rolling out great gobbets of torque until you're well past 100mph. Its reduction gearing means that peak power and torque are right on the money, so overtaking is supercar easy, and motorway work utterly seamless. It also handles pretty well, too, despite its two-tonne plus weight (blame those batteries). Fundamentally, it's a languid cruiser, rather than a thriller.
It's also an EV, so inevitably you begin thinking about the available energy and what you're doing with it in a completely different way. Responsibility becomes less of a chore. The 85kWh Model S will deliver a range of up to 265 miles, 220 without requiring you to drive like your family is strapped to the bonnet. It takes 15 hours to fully charge it from a standard 32-amp UK street or supermarket charging point, half that using Tesla's home charging apparatus. (Tesla's ‘Supercharger' stations are being rolled out in Europe and the US). Range anxiety isn't really on the radar....
...The Tesla Model S is incredible...
This isn't the America of old Detroit. The Silicon Valley interloper has changed everything.
Spain is one of the worlds largest oil importers. For €2000 I made my car run on liquid gas. http://t.co/9QuqgKgeEo— Martin Varsavsky (@martinvars) 15 Juin 2014
gyre (Oxford Dictionary) -> (Geography), a circular pattern of currents in an ocean basin: the central North Pacific gyre.
The world’s oceans contain millions of tons of trash, much of it collected into vast gyres of plastic and debris. Even if humanity stopped putting garbage in the water today, researchers project that these garbage patches would continue growing for hundreds of years. One such trash vortex, known as the Great Pacific Garbage Patch (Wikipedia), already spans hundreds of miles.
How do we get all that garbage out? Boyan Slat, a 19-year-old Dutch aeronautical engineering student, is raising $2 million to build an ocean cleanup contraption he designed to passively funnel garbage to specific collection points. Working with a team of over 100 people, he recently released a 528-page feasibility study (PDF) detailing how the complex technology works and grappling with questions of legality, costs, environmental impact, and potential pitfalls...
The U.S. Environmental Protection Agency (EPA) has issued its long-awaited draft regulations on carbon emissions from U.S. power plants, which would require a 30 percent reduction in carbon dioxide emissions from 2005 levels by 2030. Just days before Monday’s announcement, scientists from Harvard and Syracuse universities released a study highlighting the potential health benefits of such changes.
While the federal regulations, to be finalized next year, are aimed at reducing the emission of globe-warming carbon dioxide, since they would decrease pollutants from power plant smokestacks, there is a significant ancillary benefit for human health.
Studies have indicated that air pollutants like sulfur dioxide, nitrogen oxides, mercury, and fine particulate matter that penetrate deeply into the lungs not only harm people with pulmonary conditions such as asthma, they also affect the cardiovascular system and can lead to thousands of premature deaths, along with thousands of days lost from work and school because of illness...
In Q&A, Harvard analysts assess new EPA rules cutting power plant emissions http://t.co/BX0qHPnHH2— Sustainable Harvard (@GreenHarvard)
Barclays this week downgrades the entire electric sector of the U.S. high-grade corporate bond market to underweight, saying it sees long-term challenges to electric utilities from solar energy, and that the electric sector of the bond market isn’t pricing in these challenges right now. It’s a noteworthy downgrade since electric utilities which make up nearly 7.5% of Barclays’ U.S. Corporate Index by market value. From Barclays credit strategy team:
Electric utilities… are seen by many investors as a sturdy and defensive subset of the investment grade universe. Over the next few years, however, we believe that a confluence of declining cost trends in distributed solar photovoltaic (PV) power generation and residential-scale power storage is likely to disrupt the status quo. Based on our analysis, the cost of solar + storage for residential consumers of electricity is already competitive with the price of utility grid power in Hawaii. Of the other major markets, California could follow in 2017, New York and Arizona in 2018, and many other states soon after...
9 Apr 2014
The UK Green Investment Bank (GIB) has today announced that it has become a signatory to the United Nations-supported Principles for Responsible Investment (PRI)(www.unpri.org/about-pri/about-pri).
PRI joins over 1,200 signatories, who collectively have around $US35 trillion assets under management.
The UK Green Investment Bank was launched in November 2012. It has £3.8 billion of funding from the UK government. It is the first bank of its kind in the world. It is a "for profit" bank, whose mission is to accelerate the UK's transition to a greener economy, and to create an enduring institution, operating independently of government.
June 2, 2014
Around 60 University of Oxford academics have used an open letter to demand the institution stops investing in fossil fuel companies.
Among the 64 signatories so far are Lord May of Oxford, former chief scientific adviser to the UK government and Gordon Clark, current director of the Oxford Smith School of Enterprise and the Environment.
Henry Shue, professor of politics and international relations at Oxford, and one of the letter’s signatories, said: “We at Oxford like to claim the mantle of intellectual leadership…here is our opportunity to display genuine leadership when it counts.”
“We know about housing bubbles. Now we have a carbon bubble, a bubble of unreal value. It is too risky to own shares in this bubble..."
In an open letter to the university’s vice chancellor, the academics urge the world-renowned institution to join the fight to stop climate change by "ridding its £3.8 billion endowment of investments in fossil fuel companies".
The letter says that Oxford has a “responsibility to show leadership in tackling one of the greatest challenges we as a society currently face”.
The Intergovernmental Panel on Climate Change’s (IPCC) recent report concluded that carbon-intensive energy production was the single biggest contributor to global warming.
Energy companies continue to search for new fossil fuels reserves, despite warnings from the IPCC that 80% of the reserves such companies have already claimed must never be used if dangerous climate tipping points are to be avoided.
Recent analysis by the thinktank Carbon Tracker warned that as much as $1.1 trillion (£650 billion) of investors’ money is currently at risk as a result of this.
The sustainable entrepreneurship network of Spain http://t.co/fOw686Y2SA— Martin Varsavsky (@martinvars) 29 Mai 2014
Harvard has become the first American university to sign on to a United Nations-backed code of responsible investment – in a move to assuage a carbon divestment campaign.
Six months after explicitly rejecting calls to divest from fossil fuels, managers of Harvard's $33bn endowment will now be guided by a set of investment principles taking into account environmental and social factors such as water and human rights, the university announced on Monday.
The new guidelines, set by the Principles of Responsible Investment organisation, do not commit Harvard to selling existing holdings in fossil fuels...