[MCN] A Prominent Capitalist's Advice on Climate-Aware Investing

[Lance Olsen]

Morningstar Investments  21 Jun 2018

SUSTAINABILITY MATTERS <https://www.morningstar.com/articles/archive/433/sustainability-matters.html>
3 Ways to Follow Jeremy Grantham's Advice on Climate-Aware Investing
Jon Hale, Ph.D., CFA

https://www.morningstar.com/articles/870194/3-ways-to-follow-jeremy-granthams-advice-on-climat.html <https://www.morningstar.com/articles/870194/3-ways-to-follow-jeremy-granthams-advice-on-climat.html>

Excerpt: 1st 4 paragraphs

In his sobering keynote address <https://www.morningstar.com/articles/869512/grantham-protect-the-planet-profit-from-green-caus.html> at last week's Morningstar Investment Conference <https://www.morningstar.com/articles/868487/2018-morningstar-investment-conference.html>, GMO's Jeremy Grantham argued that we are in "the race of our lives" to stave off the worst effects of climate change. Grantham noted that the development of greener technologies and renewable energy is accelerating, resulting in a decarbonizing economy that is the biggest economic event since the industrial revolution. 

But climate change now appears to be happening faster than expected. Thus, it’s a race against time to mitigate the destabilizing consequences of global warming.

Capitalism's "complete inability to deal with externalities, tragedies of the common, and the very long term” helped cause these problems and is ill-suited to helping solve them.

"We deforest the land, we degrade our soils, we pollute and overuse our water and we treat air like an open sewer, and we do it all off the balance sheet. Anything that happens to a corporation over 25 years out doesn’t exist for them; therefore, as I like to say, grandchildren have no value to them."

Against that rather dire backdrop, what can and should investors do to become more climate-aware and to have an impact on the outcome of "the race of our lives”? Grantham mentioned three things investors could do: divest from fossil fuels, invest in green solutions, and encourage corporate sustainability in the companies they own.

Rest of article here
https://www.morningstar.com/articles/870194/3-ways-to-follow-jeremy-granthams-advice-on-climat.html <https://www.morningstar.com/articles/870194/3-ways-to-follow-jeremy-granthams-advice-on-climat.html>


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2015: “Here we discuss the capacity of conservation organizations to adapt to changing environmental conditions, focusing primarily on public agencies and nonprofits active in land protection and management in the US.”

Paul R Armsworth et al. Are conservation organizations configured for effective adaptation to global change? Frontiers in Ecology and the Environment 2015; doi:10.1890/130352

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2018:  Adapting Conservation Approaches to Address a Changing Climate
A Wildlife Conservation Society report offers real-world examples of how conservation practitioners are already beginning to modify their conservation endeavors to include information on climate. 

The first step, says WCS, is to consult the latest science on observed and projected climate impacts. 

Learn more >> <https://www.wcsclimateadaptationfund.org/resources>
https://www.wcsclimateadaptationfund.org/resources <https://www.wcsclimateadaptationfund.org/resources> 

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