Report

Report Risk Management

Catastrophe Bonds

Catastrophe bonds are the most well-known type of ILS to transfer catastrophe risk to capital market investors and the second-largest according to volume. The first catastrophe bonds were issued in the mid-1990s and the market has been steadily growing since that time. This primer explains the general mechanics of catastrophe…

Carolyn KouskySeptember 20, 2022

Report Risk Management

Parametric Insurance for Disasters

The concept of parametric insurance, while not new, is getting increased attention as a way to provide faster and more flexible funds to victims of disasters and as a tool to provide post-disaster funds for emerging and otherwise difficult-to-insure risks. There is also hope that parametric policies can broaden disaster…

Carolyn KouskySeptember 20, 2022

Adaptation as Risk Management Report Risk Management

Climate Science in Adaptation Litigation in the U.S.

This paper examines climate adaptation litigation in two broad categories: (1) cases seeking adaptation measures; and (2) cases challenging planned or existing adaptation actions. For each, the paper describes the key features of the litigation, the role of climate science in the claims and defenses of the parties advocating for…

Jacob ElkinAugust 31, 2022

Report Risk Management

ICRRL Annual Report 2022

This annual report summarizes ICRRL's work in the first year following its launch on June 14, 2021.

Jeffrey FralickJune 13, 2022

Adaptation as Risk Management Report Risk Management

Ensuring Robust Consideration of Climate Change Under NEPA

This policy brief outlines six regulatory revisions for the Council on Environmental Quality to prioritize in its National Environmental Policy Act (NEPA) rulemaking to improve consideration of climate change during environmental review. Each of the suggestions is consistent with the purpose, structure, and text of NEPA and will better ensure…

Dena Adler and Max SarinskyApril 22, 2022

Financial Disclosure Financial Regulation Report

Stakeholder Guide to the SEC’s Proposed Rule on Climate-Related Disclosure

This guide provides information on the Securities and Exchange Commission's proposed rule on climate-related disclosure, including a summary of the proposed disclosure standards, an explanation of the importance of these disclosures for investors, and an overview of the public comment process.

Gabriel Malek, Michael Panfil and Stephanie JonesApril 4, 2022

Adaptation as Risk Management Environmental Justice Report Risk Management

Evaluating Climate Risk in NEPA Reviews: Current Practices and Recommendations for Reform

This report finds that in order to meet the National Environmental Policy Act (NEPA) requirement that federal agencies take a “hard look” at the environmental effects of proposed actions, agencies must consider how the changing weather and environmental conditions brought by climate change might impact an action and alter its…

Romany Webb, Michael Panfil, Stephanie Jones and Dena AdlerFebruary 15, 2022

Financial Regulation Regulatory Activities Report

Public Comments Overwhelmingly Support the US Labor Department Proposed Rule Addressing the Inclusion of ESG Criteria and Proxy Voting in ERISA-Governed Retirement Plans

This analysis of public comments found overwhelming support for the Department of Labor's proposed rule Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights, with 97 percent of comments in favor. The proposed rule affirms the ability of retirement plan fiduciaries to consider climate risk and other environmental,…

Eric Pitt, Bryan McGannon, Ginny Brooks, Gabriel Malek, Stephanie Jones and Claire Staib-KaufmanJanuary 25, 2022

Financial Disclosure Financial Regulation Report

Assessing the Costs and Benefits of Mandatory Climate Risk Disclosure

As the Securities and Exchange Commission (SEC) prepares a new climate risk disclosure rule, this report analyzes relevant case law and highlights best practices that the SEC can follow in estimating the rule’s economic impacts. With trade groups expected to challenge any new disclosure requirement by claiming that its costs…

Jack Lienke and Alex SongJanuary 19, 2022