I'm all for the health of the planet and its people, but I call into question recent calls for a regulation to make the property-casualty insurance industry an environmental traffic cop.
Last October, a subcommittee of the U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing on “Climate Disclosure: Measuring Financial Risks and Opportunities.” Several experts testified, including Mindy Lubber, president of Ceres (pronounced “series”), an organization whose mission is to “integrate sustainability into capital markets for the health of the planet and its people.”
Ms. Lubber's testimony focused on why corporate climate risk disclosure is essential for investors, and she made some good points. For example, she noted that shareholders have an interest in knowing that an energy company is about to build a coal-fired power plant.
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