In a joint Brookings - Environmental Defense Fund report, Stephanie H. Jones, Gabriel Malek, Michael Panfil, and David G. Victor examine the February 2021 Texas power crisis as a case study to spotlight how public companies are responding to current disclosure rules. Insufficient disclosure practices across Texas utility companies about present and future climate-related perils indicates a need for reform.
The February 2021 extreme winter weather event and ensuing power outages in Texas (collectively, the “February 2021 Crisis”) are a salient example of the electric sector’s vulnerability to extreme weather events that will plausibly become more frequent and more severe with climate change. The blackouts were dangerous, costly, and in some cases deadly for the Texans who suffered the effects on the ground. Such events, and the market and policy responses they trigger, are also highly material to investors in the affected companies.
Climate Risk and Financial Regulations Attorney - Environmental Defense Fund
Investor Influence Coordinator - Environmental Defense Fund
[On decarbonizing the heavy transport industry and the shift to electric delivery vehicles for e-commerce] The last-mile delivery is actually a fairly easy usage to electrify. It also has monetary advantages. The vehicles are used really heavily — on the road every day, running around all day — and electricity is a cheaper fuel than gasoline or diesel. Those vehicles are likely to be more expensive up front, but they’re also likely to pay for themselves.