AllianceBernstein (AB) has joined hands with Columbia University's Earth Institute, home to the Lamont-Doherty Earth Observatory, to create a first-of-its-kind intensive curriculum focused on climate risk and investment performance.
Scientific experts from Lamont-Doherty and finance professionals at AB will co-develop a new curriculum, 'Climate Science and Portfolio Risk', after identifying the need for an educational, research-based program to integrate a deeper analysis of how climate change implications can affect economic and financial outcomes.
The collaboration between Lamont-Doherty and AB will focus on how to integrate a deeper understanding of climate science with companies' risks and opportunities.
The curriculum strongly aligns with the Earth Institute's mission to mobilise the sciences, education and public policy to achieve a sustainable earth, and AB's mission to embrace responsible investing and generate excellent outcomes for clients through research.
Seth Bernstein, president and CEO of AllianceBernstein said: "As an active manager focused on building robust, sustainable portfolios for our clients, we are uniquely positioned to identify, research and engage with companies on critical climate-related risks and opportunities. This extensive curriculum will empower our investment managers to better assess these increasing climate complexities, engage more effectively with companies and ultimately build more sustainable portfolios for clients."
All investment teams at AB will enroll in a pilot program over the next year during which the curriculum will be presented in integrative, interactive intensive sessions. The investments teams will be guided to evaluate how companies' risks and opportunities are associated with global climate change, including rising sea levels, wildfire hazards, predictive modeling for extreme weather and other potential consequences. The outcomes of the pilot program will enhance the curriculum so that it can serve as a model for the broader investment industry.