I'm also trying to follow what's happening in finance. Seems very big.
Thread on how central bankers, fund managers, global investors are all sounding the alarm.
9/https://twitter.com/emahlee/status/1131794951811919874 …
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Anywho, this thread is getting entirely too long. It's been hard to find those who are both finance experts AND understand the enormity of climate and its impacts. Most finance peeps still operate in the old paradigm that doesn't consider/ "get" climate. Merci! /end
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Replying to @emahlee
i do have a few thoughts in this but let me organize them. for one thing, for instance: action on climate-change is one thing that companies are judged on for “sustainability,” which is a hot topic in investing. Investors want sustainable companies. HOWEVER…
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…a lot of “sustainability” is just self-reported stats from companies, many of them meaningless. So companies can just say they’re sustainable without anyone really being able to check. There’s a lot more on this as well, I have some notes. Give me a couple of days! ty.
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Replying to @moorehn
Emily Cunningham Retweeted Emily Cunningham
Thanks! I became interested in this because I co-filed, along with other Amazon employees, a climate shareholder resolution (which then started a much bigger movement at Amazon). I began to think about the business / financial angle much more.https://twitter.com/emahlee/status/1074441121391042565 …
Emily Cunningham added,
Emily Cunningham @emahleeI'm one of the Amazon employees quoted in this NYT article. I want to add to@kateconger's reporting and provide more context on WHY I decided to take this action and to be so public about it. Climate change is the issue of our lifetimes. 1/X https://www.nytimes.com/2018/12/16/technology/tech-workers-company-stock-shareholder-activism.html …Show this thread2 replies 0 retweets 1 like -
(Btw, I'm just gonna get out a bunch of thoughts – no need to respond.) I'd never filed a resolution (or even voted! as a shareholder). This was all new to me. But since I was taking this action, I wanted to think about any levers to make Amazon care / do something.
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Emily Cunningham Retweeted Emily Cunningham
And yes, totally understand limitations of self reported stats and that investors do want companies to be "sustainable". ISS and Glass Lewis sided with us on our climate shareholder resolution:https://twitter.com/emahlee/status/1126931128105951233 …
Emily Cunningham added,
Emily Cunningham @emahlee
This is a BIG WIN for the 7,300 Amazon employees asking the company to adopt our climate plan shareholder resolution!
The two largest proxy advisors to institutional investors are siding with us!
It's time for Amazon to stand with employees... and now its investors! https://twitter.com/AMZNforClimate/status/1126922811975409664 …1 reply 0 retweets 0 likes -
Emily Cunningham Retweeted Emily Cunningham
In this thread I talked about (among other things), climate "stress tests" and how they're being used in Europe. This helps give investors a window into how vulnerable they are.https://twitter.com/emahlee/status/1119708505596780545 …
Emily Cunningham added,
Emily Cunningham @emahleeIn Europe, climate stress tests mostly dive into holdings and assets. Ex: "If there were to be a sudden adjustment—a carbon bubble—would you still be a solvent bank if all fossil fuel companies lost 40% of their value?" But Amazon shareholders need more stresses tested. 27/Show this thread1 reply 1 retweet 0 likes -
Emily Cunningham Retweeted Emily Cunningham
The main thesis in that thread is: "climate is a fundamental, strategic driver of Amazon's risks and opportunities." But the same is true of virtually every business right now. Yet, *crickets.* No one is talking about this.https://twitter.com/emahlee/status/1119687615605645312 …
Emily Cunningham added,
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Emily Cunningham Retweeted Alex Steffen
My guess why: it is almost incomprehensible how much climate will disrupt every aspect of our society, including finance/ economy. Ironically, certain parts of the financial world *are* paying a lot of attention because they know it will hurt profits.https://twitter.com/AlexSteffen/status/1154489654000795649 …
Emily Cunningham added,
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Emily Cunningham Retweeted Emily Cunningham
Emily Cunningham added,
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Emily Cunningham Retweeted Emily Cunningham
Another example of climate being a fundamental driver of risks and opportunities. Damn. GE fucked this one up.https://twitter.com/emahlee/status/1140552712360099841 …
Emily Cunningham added,
Emily Cunningham @emahleeGE lost billions by 'misjudging' renewables: report "GE lost a 'simply staggering' $193 billion in just three years to 2018 -- amounting to almost three quarters of its market capitalisation." h/t @chickamade https://news.yahoo.com/ge-lost-billions-misjudging-renewables-report-114015514.html …Show this thread1 reply 0 retweets 0 likes -
We don't yet have a way to estimate the price of a US city (think Miami) being lost to climate change. HUGE.
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