Environmental Alpha : Institutional Investors and Climate Change.
Title:
Environmental Alpha : Institutional Investors and Climate Change.
Author:
Calvello, Angelo.
ISBN:
9780470543344
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (435 pages)
Series:
Wiley Finance ; v.462
Wiley Finance
Contents:
ENVIRONMENTAL ALPHA: Institutional Investors and Climate Change -- Contents -- Preface -- THE NATURE OF THE CLIMATE CHANGE CHALLENGE -- A TAXONOMY OF ENVIRONMENTAL INVESTMENTS -- INTENDED AUDIENCE -- STRUCTURE OF THE BOOK -- FINAL THOUGHTS -- REFERENCES -- Acknowledgments -- Part I: Introduction to Climate Change Issues and Consequences -- Chapter 1: The Science of Climate Change -- HUMAN-CAUSED CLIMATE CHANGE: THE EVIDENCE -- OTHER HUMAN INFLUENCES ON CLIMATE -- CHALLENGES IN PROJECTING FUTURE CLIMATE CHANGE -- FUTURE CLIMATE CHANGE WITH AND WITHOUT EMISSIONS REDUCTIONS -- SUMMARY -- NOTES -- REFERENCES -- Chapter 2: The Economics of the Climate Change Challenge -- CONSIDERING THE CASE FOR ACTION -- THE POLICY FRAMEWORK -- SUMMARY AND CONCLUSION -- ACKNOWLEDGMENTS -- NOTES -- REFERENCES -- Chapter 3: Climate Change Policy: What Investors Need to Know -- OVERVIEW OF POLICY AND POLICY DRIVERS -- WHY INVESTORS CARE ABOUT POLICY -- CLIMATE POLICY AND REGULATION: AN OVERVIEW -- DESIGNING A DOMESTIC APPROACH -- THE IMPACT OF OTHER POLICIES -- DESIGNING AN INTERNATIONAL APPROACH -- LOOKING FORWARD -- SUMMARY: IMPLICATIONS FOR INVESTORS -- ACKNOWLEDGMENTS -- REFERENCES -- Part II: Climate Change and Institutional Investors: Key Strategic Issues -- Chapter 4: Risks and Their Impact on Institutional Investors -- FOUR CATEGORIES OF CLIMATE RISK -- INVESTOR ENGAGEMENTS WITH COMPANIES AND POLICY MAKERS ON CLIMATE RISK ASSESSMENT AND DISCLOSURE -- INVESTOR ACTION ON CLIMATE RISK -- MARKET MELTDOWN: DOOM OR BOON TO GREEN ECONOMY? -- ACKNOWLEDGMENTS -- REFERENCES -- BIBLIOGRAPHY -- Chapter 5: The Case for Climate Change as the Paramount Fiduciary Issue Facing Institutional Investors -- THE FRESHFIELDS REPORT -- UNITED NATIONS PRINCIPLES OF RESPONSIBLE INVESTMENT -- THE CHALLENGE OF CLIMATE CHANGE -- BUSINESS RISKS AND OPPORTUNITIES.
ENERGY AND INSURANCE AND REINSURANCE -- CONCLUSIONS -- REFERENCES -- Chapter 6: SRI or Not SRI? -- A MISSED OPPORTUNITY -- AFTER AWARENESS, THEN WHAT? -- SRI OR NOT SRI? -- THE LIMITATIONS OF CURRENT APPROACHES -- LEVERAGING CARBON BETA IN THE EQUITY SPACE -- THE CARBON BETA MODEL ITSELF -- WHITHER CARBON FINANCE? -- ACKNOWLEDGMENTS -- NOTES -- REFERENCES -- BIBLIOGRAPHY -- Part III: Environmental Alpha: The Investment Case for Climate-Related Strategies -- Chapter 7: Taxonomy of Environmental Investments -- CLIMATE CHANGE: A CLUSTER CONCEPT -- THE DRIVERS OF RETURNS -- CATEGORIES OF ENVIRONMENTAL INVESTMENTS -- THE RISKS AND CHALLENGES OF ENVIRONMENTAL INVESTING -- THE BENEFITS OF ENVIRONMENTAL INVESTMENTS -- CONCLUSION -- REFERENCES -- BIBLIOGRAPHY -- Chapter 8: Investing in Climate Change -- PERSISTENCE OF CLIMATE CHANGE AS AN IDENTIFIABLE SOURCE OF EXCESS RETURNS -- FUNDAMENTAL ATTRIBUTES OF THE CLIMATE CHANGE UNIVERSE -- APPLYING CLIMATE CHANGE TO DIFFERENT ASSET CLASSES -- BENEFITS OF INCLUDING CLIMATE CHANGE IN ASSET ALLOCATION -- MARKET DEMAND AND SUPPLY -- CONCLUSION -- DISCLAIMER -- REFERENCES -- BIBLIOGRAPHY -- Chapter 9: Carbon as an Investment Opportunity -- THE KYOTO PROTOCOL AND EMISSION TARGETS -- THE CLEAN DEVELOPMENT MECHANISM AND JOINT IMPLEMENTATION -- THE EUROPEAN UNION EMISSIONS TRADING SCHEME -- EMERGING CARBON SCHEMES -- FLAVORS OF CARBON -- WHY INVEST IN THE CARBON SPACE TODAY? -- CARBON WILL BE A HUGE MARKET -- ALPHA, INFORMATION, AND RESOURCES -- CONCLUSIONS AND OUTLOOK -- Chapter 10: Market-Based Solutions to Reduce Emissions from Deforestation and Degradation (REDD) -- SECTION ONE: SCIENCE AND POLICY -- SECTION TWO: MARKET-BASED SOLUTIONS -- CONCLUSION -- NOTES -- REFERENCES -- BIBLIOGRAPHY -- Chapter 11: Effective Clean Tech Investing -- CLASSIFYING THE SCOPE OF CLEAN TECH INVESTMENTS.
THE PACE OF CLEAN TECH INNOVATION AND FUTURE PROSPECTS FOR INVESTING -- FITTING CLEAN TECH INVESTMENTS INTO AN EFFECTIVE AND DIVERSIFIED PORTFOLIO -- CONCLUSIONS AND IMPLICATIONS -- BIBLIOGRAPHY -- Chapter 12: Sustainable Commercial Property -- BACKGROUND AND CONTEXT -- BUILDINGS AND CLIMATE CHANGE: A GLOBAL CHALLENGE -- SIZE OF THE MARKET FOR SUSTAINABLE PROPERTY -- SUSTAINABLE PROPERTY DRIVERS AND BARRIERS -- THE INVESTMENT THESIS FOR SUSTAINABLE PROPERTY -- SUSTAINABLE PROPERTY INVESTMENT OPPORTUNITIES -- FUTURE TRENDS AND RISK: A PERFECT STORM? -- NOTES -- REFERENCES -- Chapter 13: Liquid Alpha: The Case for Investing in Water -- THE IMPACT OF ACCELERATING DEMAND ON WATER SUPPLIES -- STRUCTURAL IMPACTS ON WATER SUPPLY -- IMPACT OF CLIMATE CHANGE -- INVESTING IN WATER -- CAPTURING LIQUID ALPHA -- RISKS TO INVESTING IN WATER -- SUMMARY -- ACKNOWLEDGMENTS -- NOTES -- REFERENCES -- Part IV: Practical Considerations -- Chapter 14: A Collaborative Response to Climate Change -- DIARIES OF AN INVESTMENT CONSULTANT -- WHY MIGHT A COLLABORATIVE APPROACH TO CLIMATE CHANGE BE APPEALING? -- WHAT ARE THE PITFALLS OF COLLABORATION? -- A COLLABORATIVE FRAMEWORK APPLIED TO CLIMATE CHANGE -- COLLABORATION IN ACTION: ASSET/LIABILITY MODELING AND SCENARIO ANALYSIS -- CONCLUSION -- REFERENCES -- BIBLIOGRAPHY -- Chapter 15: Corporate Responsibility and Environmental Investing -- WHAT IS CR AND ER? -- WHAT COMPRISES AN ASSET MANAGER'S ENVIRONMENTAL FOOTPRINT? -- WHAT ROLE DOES ER (AND CR) PLAY IN A CORPORATE ENTITY'S BUSINESS MODEL? -- WHAT ER STATEMENT SHOULD AN INVESTOR EXPECT FROM A CORPORATION? -- AN INVESTOR'S APPROACH TO ER -- CONCLUSION -- APPENDIX: AN INTERVIEW WITH MICHELLE CLAYMAN OF NEW AMSTERDAM PARTNERS -- REFERENCES -- Chapter 16: Beyond Best Practices -- STEP 1: UNDERSTANDING CLIMATE CHANGE AND THE VIRTUAL TEAM.
STEP 2: ASSESSMENT (ENVIRONMENTAL STRESS TEST) -- STEP 3: FROM THEORY TO PRAXIS -- STEP 4: GENERAL OBSERVATIONS -- CONCLUSION -- NOTES -- REFERENCES -- About the Author -- About the Contributors -- Index.
Abstract:
Climate change will present institutional investors with both complex risks and dynamic opportunities in the years ahead. This situation has the potential to affect many sectors in radically different ways and to varying degrees over time. Institutional investors need to have a thorough understanding of the multidimensional risks and opportunities that could influence nearly every investment in their portfolios. While Environmental Alpha has value for all investors, it was specifically written for institutional investors-defined pension funds, endowments, foundations, insurance companies, and superannuation funds-with delegated investment responsibilities. The information found here will enhance your understanding of environmental investments, as well as the excess returns, or "alpha," their strategies offer, and put you in a better position to prudently direct and commit capital in the face of continuous climate change. Composed of four parts-Introduction to Climate Change Issues and Consequences, Climate Change and Institutional Investors, Environmental Alpha: The Investment Case for Climate-Related Strategies, and Practical Considerations-each of which contains contributions by leading experts in the environmental investing arena, this comprehensive guide moves beyond many of the theoretical or academic discussions on the topic to provide you with real-world insights into an emerging market. Page by page, Environmental Alpha: Examines the climate change-related drivers of returns (science, economics, policy and regulation, and technology) that make environmental alpha possible Explores fiduciary duty and climate changeContains in-depth explanations of each of the major categories of environmental investing and examines related environmental alpha opportunities Discusses practical implementation issues Presents real-world case studies
and detailed examples Climate change will be one of the most important investment themes of the next twenty years. The related environmental investment opportunities will provide institutional investors with some of the greatest "alpha" opportunities for years to come. This book will provide you with a framework for effectively assessing and accessing these opportunities.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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