Dr. Craig Mackenzie and Francisco Ascui with additional research by Dermot Hikisch
This report stresses the role investors can take to mitigate the detrimental effects of climate change. The authors begin by discussing the Caring for Climate (C4C) initiative introduced by UN Secretary- General Ban Ki-moon. More than 350 corporations and 60 countries have signed on, making it the world’s largest initiative of business engagement on climate change. The authors go on to stress the great opportunity present in investing environmentally-friendly, carbon reducing investments. If climate change initiatives are not acted upon, the consequences can prove to be severe and damaging to the economy and world. Overall, this report contextualizes the ESG movement in climate change. The authors organize the chapters to provide the leadership roles available to investors and emphasize where people are most successful.
This report is divided into five sections: introduction, relevance of climate change, responding to climate change, measures to build climate resilience, the role of governments, and stakeholder interactions. It focuses on insurance’s role in climate change. It recommends that insurance markets be more effective in disaster management in addition to enhancing the accessibility of weather and environmental data.
This article discusses new developments in the sustainability sector referred to as, “Sustainability 3.0, which quantifies ecosystem services, measuring, in dollar terms, the value of beneficial services the natural environment performs.” The article claims that the calibration of a firm’s success and responsibility over the environment is inevitable.