Paul Gutermann Discusses Asset Owner Worries re: Climate Change With Law360
Akin Gump environment and natural resources practice head Paul Gutermann was quoted by Law360 for its article “Climate Risks Drive Investors Away From Carbon” on concerns by asset owners and managers over the financial implications of climate change.
Gutermann said coal companies will soon be facing serious new challenges as proposed carbon emissions standards for new plants arrive in September followed, next July, by a rule for extant plants. He noted, however, that companies across the industry are now much more mindful of climate risk fact, adding “There is increased due diligence and an enhanced level of climate risk analysis being done. The analysis is more sophisticated, not merely considering things like the next stage of the Kyoto protocol, but looking at industries that may be facing greater risk from changes in the environment.”
He also believes that extreme weather events such as record heat waves and storms keep climate change in investors’ minds: “There’s a trajectory of that being more highly considered. When you have things like the hurricane in New York, there clearly is more concern about it and that will continue to trend upward.”
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