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The Implications of the Universal Owner for Climate Mitigation


October 22, 2019
12:00 pm - 1:30 pm


Vanderbilt University Law School
Hyatt Room
131 21st Avenue South
(parking info)

Nashville, TN (and webinar)


This event is free and open to the public.

  • You will have to download the Zoom Launcher to view this session via webinar. Check with your IT person (especially if you are with a government agency) to ascertain if you will be able to access this session or whether you should use a personal non-networked device.
  • All times noted are Central Time. The webinar will begin at 1 PM Eastern, 12 noon Central, 11 AM Mountain, and 10 AM Pacific. There is no CLE for this course and there will be no subsequent recording available.
  • To view the webinar, at the time indicated, join Zoom Meeting at https://zoom.us/j/431862462   Meeting ID: 431 862 462

    One tap mobile:
    +16465588656, 431862462# US (New York)
    +17207072699,,431862462# US (Denver)

    Dial by your location:
    +1 646 558 8656 US (New York),  +1 720 707 2699 US (Denver)

    Find your local number: https://zoom.us/u/af4uPLv56

Co-sponsored by Vanderbilt Energy and Environmental Law Program, Environmental Law Institute, Vanderbilt Environmental Law and Policy Annual Review, and Vanderbilt Energy and Environmental Law Society

The Implications of the Universal Owner for Climate Mitigation

This workshop will explore the implications of the universal owner concept for climate mitigation. An emerging literature suggests that because many large institutional investors have diversified portfolios that mirror the market, they do not benefit from any one company profiting through negative externalities that harm other companies. If this concept survives critical scrutiny, it may explain why institutional investors are increasingly pushing for decarbonization across many sectors and may predict that this pressure will continue in the future. Climate change is a systemic investment risk that cannot be diversified away, so the universal owner concept also may become the focus of shareholder activism from institutional investors that have typically been passive overseers of corporate behavior. Drawing on insights from experts in environmental and securities law, economics, and other fields, this workshop will explore the viability of the universal owner concept and the implications for climate mitigation and other environmental, social and governance issues.  The workshop will be accessible to the public as a webinar via the information provided above.

Moderator: Mike Vandenbergh (Vanderbilt)

Madison Condon
(NYU Law School)
Rick Alexander (Shareholder Commons)
Margaret Blair (Vanderbilt Law School)
Yesha Yadav (Vanderbilt Law School)
Mark Cohen (Owen Graduate School of Management)