ESG Initiative News Archives

Climate Change to Wipe Away $1.5 Trillion in U.S. Home Values, Study Says

An image from the California Palisades wildfires, with palm trees in the background and a religious figurine on top of a demolished site in the foreground.

(Outlet: The Wall Street Journal) Rising home-insurance costs and more homeowners spurning some risky neighborhoods will drive these declines, according to First Street.…Read More

Call For Papers: Migration & Organizations Conference

Businesspeople in a modern office setting with cityscape reflections. The scene conveys professionalism and corporate activity.

(Call for Papers: Migration & Organizations Conference) Now in its eighth iteration, this gathering seeks to advance rigorous research and strengthen the community of scholars at the intersection of migration and organizations.…Read More

Make dollars make sense

Yale building lit up with trees in front.

(Outlet: Financial Times) Once reserved for philanthropists, foundations and investors are prepared to accept lower returns to achieve positive social and environmental effects in the impact investing market.…Read More

As climate risks mount, homeowners far beyond California face soaring insurance bills

Burned house and backyard area in California wildfires.

(Outlet: CBS News) As disasters linked to climate change become more frequent in the U.S., homeowners across the country are paying the price through skyrocketing insurance costs — and not only in states like Florida and California that are considered most vulnerable to global warming. …Read More

With Housing Safety And Affordability At Stake, Experts Share Ideas

Map of average annual insurance premiums in the first half of 2023 by county showing many counties already stressed by high premium prices. From National Bureau of Economic Research

(Outlet: Forbes) As wildfires roar across southern California, these natural disasters are not only destroying homes but taking lives. Home insurance costs also are taking on a whole new dimension.…Read More

We Will All Be Paying For L.A.’s Wildfires

In a composite image, a map of North America is pictured alongside firefighter James Lyons spraying water on a home burned by the Palisades Fire.

(Outlet: The Lever) Los Angeles’ wildfires and an industry-tied insurance regulator may prove a tipping point for the country’s faltering financial safety net.…Read More

Insurance cost of Los Angeles wildfires may be felt in Australia

(Outlet: ABC News Australia) California’s devastating wildfires have exposed an insurance crisis plaguing many disaster-prone areas around the world, and risk pushing up premiums in Australia.…Read More

Researchers at the University of Pennsylvania calculate the hidden factor that can make companies less valuable than investors think: ‘We were still shocked’

(Outlet: The Cool Down) The baseline estimate of the burden is 131% of a firm’s total equity value. A paper from the University of Pennsylvania has outlined how one surprising factor could be reducing the value of various firms, and getting a handle on the issue would be a smart move for shareholders, employees, and customers. …Read More

Pacific Palisades fire may spell an end to cheap homeowners insurance in California

Aerial view of Pacific Palisades neighborhood, January 9.

(Outlet: Reuters) The scale of losses anticipated in the wildfires now ringing Los Angeles, as well as regulatory changes enacted late last year, could spell an end to relatively cheap homeowners’ insurance in areas like the Palisades that are at elevated risk for wildfires, four analysts told Reuters.…Read More

As wildfires burn in Los Angeles, insurers brace for a potential financial disaster

Firefighters fight a fire in California as a house blazes.

(Outlet: Marketplace) Benjamin Keys, a professor of real estate and finance at the University of Pennsylvania’s Wharton School, joined “Marketplace” host Amy Scott to talk about the California insurance market and what the payout might look like once claims come in. …Read More