Global Investor-Director Survey on Climate Risk Management

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See all articles by Kristin Bresnahan

Kristin Bresnahan

Columbia University - Law School

Jens Frankenreiter

Columbia Law School

Brea Hinricks

affiliation not provided to SSRN

Nina Hodzic

affiliation not provided to SSRN

Sophie L'Helias

International Corporate Governance Network

Julian Nyarko

Stanford Law School

Sneha Pandya

Columbia Law School

Eric L. Talley

Columbia University - School of Law

Date Written: November 1, 2020

Abstract

Changes in the global climate are having profound impacts on business operations, governance, and organizational management around the world. Boards of directors are searching for ways to account for these changes as they help guide their organizations, and investors are increasingly concerned about how these changes might impact their portfolios. This global survey, conducted by a team of researchers at the Ira M. Millstein Center for Global Markets and Corporate Ownership at Columbia Law School and experts at LeaderXXchange, seeks to understand how—if at all—institutional investors and board directors incorporate climate-related issues in their investment decision making and their oversight responsibilities, respectively. It is among the first global survey of its kind targeting both investors and directors to probe their responses on climate risk management using two tracks aggregated in a single survey. The survey collected data on a broad range of topics, including demographic information of respondents and their views on issues such as materiality of climate change, training on climate change issues, disclosure of climate risks, climate risk management, board oversight and engagement and proxy voting on climate-related issues. We find a strong majority of respondents across groups rank climate issues high up on their list of important considerations. That said, climate issues appear to attract stronger attention among investors (as opposed to directors), women, younger respondents, and European respondents.

Keywords: Climate change, renewable energy, corporate governance, corporate stewardship, risk management

JEL Classification: G30, G34, Q5

Suggested Citation

Bresnahan, Kristin and Frankenreiter, Jens and Hinricks, Brea and Hodzic, Nina and L'Helias, Sophie and Nyarko, Julian and Pandya, Sneha and Talley, Eric L., Global Investor-Director Survey on Climate Risk Management (November 1, 2020). Available at SSRN: https://ssrn.com/abstract=

Kristin Bresnahan

Columbia University - Law School ( email )

435 West 116th Street
New York, NY 10025
United States

Jens Frankenreiter

Columbia Law School ( email )

435 West 116th Street
New York, NY 10025
United States

Brea Hinricks

affiliation not provided to SSRN

Nina Hodzic

affiliation not provided to SSRN

Sophie L'Helias

International Corporate Governance Network

London W1B 1AH
United Kingdom

Julian Nyarko

Stanford Law School ( email )

559 Nathan Abbott Way
Stanford, CA 94305
United States

Sneha Pandya

Columbia Law School ( email )

435 West 116th St
NEW YORK, NY 10027

Eric L. Talley (Contact Author)

Columbia University - School of Law ( email )

435 West 116th Street
New York, NY 10025
United States

HOME PAGE: http://www.erictalley.com

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