NEW YORK, Sept. 11, 2019 /PRNewswire/ -- Columbia
University's Earth Institute, home to the Lamont-Doherty Earth
Observatory, a world-renowned Earth and climate science research
center, is collaborating with leading global investment management
firm AllianceBernstein L.P. (AB) (NYSE: AB) to create a
first-of-its-kind intensive curriculum focused on climate risk and
investment performance.
Scientific experts from Lamont-Doherty and leading 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 mobilize 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.
"The Earth Institute is thrilled to be working with
AllianceBernstein to develop a curriculum focused on climate risk,"
said Alex Halliday, Director of
Columbia University's Earth Institute.
"The climate crisis is fast becoming the major issue that society
has to address across all sectors. There is an urgent need for
businesses to develop a more sophisticated understanding of the
huge risks that are to be faced. Assessing and factoring in
climate risk in a more comprehensive and granular fashion than can
be achieved from relatively blunt and misleading economic models
will have far reaching impacts. Therefore, this venture is
sorely needed and will deepen the knowledge of members of the
financial sector to make informed decisions based on a planet that
is changing due to global warming."
"This opportunity with Lamont-Doherty supports AB's strategy to
incorporate environmental factors into our investment processes,"
said Seth Bernstein, President and
CEO of AllianceBernstein. "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
As part of this collaboration, AllianceBernstein is proud to
serve as the lead sponsor of the Lamont-Doherty's Open House on
October 5th, 2019. This
annual, free event invites the public to the Earth-Observatory's
campus to educate and engage visitors on climate and geologic
threats through interactive labs, exhibits and lectures. For more
information on the 2019 Open House, visit
https://openhouse.ldeo.columbia.edu/
About Lamont-Doherty Earth
Observatory
Lamont-Doherty Earth
Observatory seeks fundamental knowledge about the origin,
evolution and future of the natural world. Its scientists study the
planet from its deepest interior to the outer reaches of its
atmosphere, on every continent and in every ocean, providing a
rational basis for the difficult choices facing humanity. For more
information, visit www.ldeo.columbia.edu.
The Earth Institute, Columbia
University mobilizes the sciences, education and
public policy to achieve a sustainable earth. For more information,
visit www.earth.columbia.edu.
About AllianceBernstein
AllianceBernstein is a
leading global investment management firm that offers high-quality
research and diversified investment services to institutional
investors, individuals and private wealth clients in major world
markets.
As of June 30, 2019, including
both the general partnership and limited partnership interests in
AllianceBernstein, AllianceBernstein Holding owned approximately
35.6% of AllianceBernstein and AXA Equitable Holdings ("EQH"),
directly and through various subsidiaries, owned an approximate
65.2% economic interest in AllianceBernstein.
Additional information about AllianceBernstein may be found on
our website, www.alliancebernstein.com.
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SOURCE AllianceBernstein