Please invest in Our Daily Planet today, by making a one time or monthly contribution.
We do not charge our readers a subscription fee for our content. We want to continue to grow our readership, particularly among millennials and public servants. Voluntary contributions from readers will help us employ interns and freelance journalists, expand our content, and reach a larger audience.
If you make a contribution of $150 or more, you will become an official “Friend of the Planet” and receive a Friend of the Planet T-shirt or water bottle. You can also submit opinion essays to us for our consideration for posting on our new “Bright Ideas” op-ed page.
Harvard Forward Students Photo: Ryan N. Gajarawala, Harvard Crimson
Senator Elizabeth Warren continues to push for greater transparency in corporate reporting documents so that shareholders and the public can get meaningful information about climate risks facing companies. Similarly, large institutions are also being pressured by shareholders and stakeholders to divest from fossil fuels in order to lower their climate risks. Last week, the Harvard Crimson reported that there is now a “sister” organization to Harvard Forward called YaleForward working to elect young alumni to Yale’s main governance boards in order to raise climate issues and divestment with university leadership.
Why This Matters: The pressure is having an impact. Harvard announced last week that its endowment would be “carbon neutral” by 2050 but does not go enough for climate-conscious students, faculty, and alums. Other universities such as Georgetown and Brown have pledged to divest from fossil fuels in much shorter time frames. Indeed, Senator Warren explains why climate change should matter to every large institution and corporation — “’the current value of direct private investor losses globally due to the physical risks of climate change is between $4.2 trillion and $13.8 trillion, depending on the warming scenario’ and that climate change may lead to ‘permanent damage that would far eclipse the scale of the 2007-2008 financial crisis.’” Oh, and, Go Yale Forward! Boola Boola!
Senator Warren’s Proposal
Senator Warren has sponsored legislation that would create a rigorous and standardized climate disclosure regime in order to ensure that public companies disclose their climate-related risks so investors can accurately assess them before buying or selling stock in that company. All public companies would have to disclose, among other relevant information, their direct and indirect greenhouse gas emissions, assets related to fossil fuel that they own or manage, how the company’s financial valuations would be affected under various climate scenarios, and the company’s risk management strategies related to the physical and transition climate change risks. The Securities and Exchange Commission is currently looking at changes to its corporate disclosure requirements — but it is unlikely that this Administration would require climate disclosures absent a legislative requirement.
According to The Crimson, Yale’s Board of Trustees consists of Yale’s president plus 16 trustees, and the goal of Yale Forward is to get 2015 alum Maggie Thomas elected to the Board. Thomas said in a press release that she believes Yale University has the “potential to be a champion of light and truth” in fighting climate change and that her goal is “to work towards that future together.” Specifically, she is campaigning on a platform of fossil fuel divestment, more robust processes for developing socially-responsible investment guidelines, and increased support for climate-focused research and education.” The campaign also calls for “the elimination of the five-year disenfranchisement rule for Yale College alumni—who are barred from voting in Corporation elections until they have held their degrees for more than five years—and for increased transparency around the operations of the Corporation.”
There’s been ample research to show that the Arctic is warming much faster than any other region on the planet. However, there’s been little media focus on what’s happening on the opposite side of the planet, until now. A new study published in the journal Nature Climate Change on Monday has revealed that the South […]
An alarming new analysis from the First Street Foundation revealed that millions of American homes are at a growing risk of extreme flooding. As CNN wrote, today, around 8.7 million properties are located in Special Flood Hazard Areas as determined by FEMA’s flood maps, the legal standard used in the US to manage floodplains, determine […]
Our Daily Planet is your daily dose of the stories shaping our world and the ways that you can take action. From the climate crisis to the protection of biodiversity, if these issues matter to you then please subscribe & stay informed!
Your privacy is Important! We promise never to use your email address to send you spam or advertisements.