climate finance course materials spring 2024
Class Tuesday March 19: Framing: why climate finance
Why (and Why Not) Climate Finance?
Neil Gunningham, A Quiet Revolution, Central Banks, Financial Regulators and Climate Finance, Sustainability (2020) (this article does a very good job of framing issues in the area of climate finance (especially focusing on regulation))
Class Thursday March 21: Divestment and Against ESG
Divestment and Against ESG: Materials for Class on Thursday March 21
Julie Ayling & Neil Gunningham, Non-state Governance and Climate Policy: the Fossil Fuel Divestment Movement, Climate Policy (2015)
Class Tuesday March 26: Measuring Carbon and Net Zero; taxonomies
Measuring Carbon, Net Zero, Taxonomies: Materials for Class on Tuesday March 26
Allegra Dawes, Voluntary Carbon Markets: A Review of Global Initiatives and Evolving Models, CSIS Brief (May 31, 2023)
Allegra Dawes, What’s Plaguing Voluntary Carbon Markets ?, CSIS Commentary (Feb. 2, 2024)
IOSCO, Voluntary Carbon Markets Consultation (Dec. 3,2023)
Class Thursday March 28: Insurance
Insurance: Materials for Class on Thursday March 28
Felicia Khoo & Jeffery Yong, Too Hot to Insure – Avoiding the Insurability Tipping Point, FSI Insights No. 54 (Nov. 20, 2023)
Class Tuesday April 2: Banking
Banking: Materials for Class on Tuesday April 2
Office of the Comptroller of the Currency (OCC), Treasury; Board of Governors of the Federal Reserve System (Board); and Federal Deposit Insurance Corporation (FDIC), Principles for Climate-Related Financial Risk Management for Large Financial Institutions, 88 Fed. Reg. 74183 (Oct. 30, 2023).
NYDFS, Guidance for New York State Regulated Banking and Mortgage Institutions Relating to Management of Material Financial and Operational Risks from Climate Change (Dec. 2023)
Class Thursday April 4: Asset management and greenwashing
Asset Management and Greenwashing: Materials for Class on Thursday April 4
Financial Markets Law Committee, Pension Fund Trustees and Fiduciary Duties: Decision-making in the Context of Sustainability and the Subject of Climate Change (Feb. 6, 2024).
Class Tuesday April 9: Securities regulation and disclosure
Securities Regulation and Disclosure: Materials for Class on Tuesday April 9
Sullivan & Cromwell Memo, Key Implications of SEC’s Climate-Related Disclosure Rules for Public Companies (Mar. 12, 2024)
Complaint in US Chamber of Commerce v. California Air Resources Board (C.D. Cal.)
Class Thursday April 11: Data issues, accountability, audit, ratings
Data Issues, Accountability, Audit, Ratings : Materials for Class on Thursday April 11
Annie Brett, Information as Power: Democratizing Environmental Data, 2022 Utah L. Rev. 127 (2022)
Heather Lovell & Donald Mackenzie, Accounting for Carbon: The Role of Accounting Professional Organisations in Governing Climate Change, 43:3 Antipode 704 (2011) (you can access this article through the UM library e-resources)
Additional resource: ESG Data Convergence Initiative
Class Tuesday April 16: Documentation for climate finance; climate bonds
Documentation for Climate Finance and Climate Bonds: Materials for Class on Tuesday April 16
Quinn Curtis, Mark C.Weidemaier, & Mitu Gulati, Green Bonds, Empty Promises, 102 N. Carolina L. Rev. 131 (2023).
Class Thursday April 18: Climate litigation and finance
Climate Litigation and Finance: Materials for Class on Thursday April 18
Anna A. Mance, How Private Enforcement Exacerbates Climate Change, 44 Cardozo Law Review 1493(2023)