Nature’s locus standi: Taking the Environment to Court

With institutions, both public and private, defining the functioning of major world economies, we have come a long way from the early days of industrialization to extensive urban development and technical advancement. In this developmental process, vital players in the economy seem to have neglected the importance of safeguarding the natural environment. Actions of individuals, […]

Do Extreme Weather Events Alter Investors’ Support for the Environment?

Dramatic images showing icebergs melting, global warming-related avalanches, and destructive landslides and wildfires caused by extreme weather events are now commonplace in news broadcasts. It is no surprise then that climate change-related corporate proposals have increased steadily in recent years, reflecting growing investor demand for corporate accountability around this issue. Given such a stance, what […]

The Global Green Finance Index

Background Just a few years ago, green finance was dismissed as a fringe activity. However, the rise of new financial instruments – such as Green Bonds and Fintech applications which reduce risk and open up new markets – has firmly moved green finance into the mainstream. When combined with public concern on climate change and policy makers’ preoccupation with low-carbon economic growth, it […]

Trust Culture and the Effectiveness of Consumer Protection

In our recent paper, we study consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), the watchdog agency charged with protecting consumers from financial abuses, and their disciplinary effect on bank behavior. Since its establishment, the role and effectiveness of the agency has been subject to debate—the previous administration tried to dismantle it, while the […]

Summary of Comment Letters for the SEC’s Climate Risk Disclosure RFI

Recognizing that “investor demand for, and company disclosure of information about, climate change risks, impacts, and opportunities has grown dramatically,” former Securities and Exchange Commission (SEC or Commission) Acting Chair Allison Herren Lee released 15 questions for consideration on March 15, 2021 “with an eye toward facilitating the disclosure of consistent, comparable, and reliable information […]