- A new report by UK nonprofit CDP reveals 215 of the world's biggest companies face almost $1 trillion in climate change risks, with many likely to hit within the next five years.
- The Global Impact Investing Network (GIIN) released its annual impact investor survey reflecting 266 respondents managing $239 billion in impact investing assets.
- New York lawmakers agreed to pass the Climate Leadership and Community Protection Act, the most comprehensive and aggressive climate change legislation in the nation, aiming to reduce greenhouse gas emissions 85% by 2050.
- Fashion label Ralph Lauren announced its new sustainability strategy, Design the Change. The company released five new sustainability goals, named its first chief sustainability officer, and expanded its Nominating & Governance Committee to include oversight of environmental and social risks and opportunities.
- More business schools are offering courses on sustainable finance in which students learn how to evaluate a company based on its ESG performance. The Wall Street Journal details programs at UC Berkeley's Haas School of Business, NYU Stern School of Business, Harvard Business School, and London Business School.
- Is your home at risk of flooding? The data is hard to find. First Street, a nonprofit advocating for improved flood disclosure, is assembling a comprehensive database on flood history and flood risk for homes in the U.S.
- The Federal Reserve Bank of San Francisco wants banks to get extra credit under the Community Reinvestment Act for making loans that help communities adapt to climate change and prepare for future natural disasters.
- Bloomberg recently profiled "Impact Investing for the Next Generation, " a course offered by Harvard and the University of Zurich, in collaboration with the World Economic Forum, targeted at extremely wealthy millennials around the world.
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Morrison & Foerster LLP. All rights reserved