Columbia University Professor Jeffrey Sachs writes, in an article entitled “Thank Goodness for the American Corporation“, about the wake-up call many US companies have received about global warming. In it he reports on some of the positive changes that companies such as GE have recently made despite the lack of leadership in Washington. Notably, the often overlooked roll of pension funds is mentioned. As necessarily long-term investors, pension funds stand to lose in the long term if serious investment in the long term future is not made. Furthermore, as shareholders, pension funds are able to easily absorb short-term losses that sometimes result from proactive environmental steps, making them ideal change agents.
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US Private Sector Begining to Act on Climate Change
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