By Valerie Gardner Since our founding in 2002, we have seen it as our job to help our clients invest prudently in the market, in order to participate in the overall market growth and returns generated by business. We have always known that our clients will do best if we reduce their unnecessary costs and uncompensated risks, while providing [...]
Dr. Jonathan Tiemann Would it really be possible to replace our existing energy system with renewables? Mark Jacobson, Professor of Civil and Environmental Engineering at Stanford, thinks we can do so by 2050.1 Prof. Jacobson has done an impressive job of synthesizing demographic, economic, and engineering data to develop a formula that seems to show a path toward a fully [...]
By Dr. Jonathan Tiemann This February, a group calling itself the Climate Leadership Council published a paper titled, “The Conservative Case for Carbon Dividends.” The paper’s eight authors constitute sort of a blue-ribbon panel of thoughtful conservatives. They include former senior Republican officials (James A. Baker III, George Schultz, Henry Paulson), prominent economists (Martin Feldstein and N. Gregory Mankiw, who [...]
By Valerie Gardner BlackRock, an asset manager with over $5 trillion in assets, doesn't think so. According to Ben Moshinsky of Business Insider, BlackRock has issued a report warning investors that "Climate change is going to move a huge amount of money and not enough people are paying attention.1" For a group that holds major investments in various fossil fuel [...]
In a special 132-page report published in August 2015 entitled "ENERGY DARWINISM II: Why a Low Carbon Future Doesn’t Have to Cost the Earth," Citigroup, one of the world's largest financial insitutions, reported that it had studied the financial impacts and feasibility of whether we could afford to address climate change. It found that, in fact, opting to address climate [...]
Despite the well-pronouced and increasingly strident warnings from scientists about the deleterious effects of burning fossil fuels on the environment, there is a surprising amount of "business as usual" going on in corporate America. This makes the news about the way Anne Stausboll, the chief executive of Calpers, addresses climate change all the more impressive. According to an article in [...]
In mid-December, Goldman Sachs released a report with news that they had calculated the impacts from the large drop in the price of oil, which at that time had dropped 49 percent in less than six months: a stunning $1 trillion in at risk future oil projects. The projects — oil field investment "zombies" — were deemed all but dead [...]
Lore has it, according to Thomas Friedman, that a Chinese emporor was so enthralled with the invention of the game of chess that he offered to fulfill any wish for the inventor. The simple wish: place 1 grain of rice on the first square of the chessboard, then place 2 grains of rice on the second square, 4 grains on the third square, 8 grains on the fourth and continuing doubling the grains across the entire board. The emporer granted the wish happily, only to discover that by the 64th square, he owed his kingdom in rice. Thomas Friedman included this among many brilliant observations and points made in a talk that he gave to Stanford's Precourt Institute last year. His point here being that trends that seem small and insignificat at the outset, can have huge and uncontrolled impacts if they maintain their incremental growth over time. He posits that we are on the second half of the chessboard in the way the markets work, the impacts we are having on Mother Nature and in the operation of Moore's Law on technology.