As the climate crisis accelerates, world-leading investors are putting more weight behind the climate ambition of their portfolios. This January, the world’s largest asset manager, Blackrock, publicly stated that their corporation would take concrete action against companies who do not have a long-term strategy to align their businesses with net-zero greenhouse gas emissions by 2050. Historically, there have been complex legal debates on whether or not the fiduciary duties of asset managers may prevent or oblige them to make investments based on a company’s emissions profile. However, as the planet continues to warm at unprecedented rates, laws regulating the financial industry must adapt to the growing reality that businesses can no longer responsibly ignore their greenhouse gas (GHG) emissions in long-term strategic planning.
It is clear that the race to zero emissions within the financial sector is no longer a matter of if, but when. Yet, critical questions remain: how fast will this transition away from emissions-intensive industry happen? What is the role of law in regulating the decarbonization of financial actors? How can both businesses and investors best prepare for this transition? Join the Environmental Law Institute and leading experts for an in-depth exploration of regulating the financial sector in the decarbonization era.
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