As the pressure on the water resources mounts within a river basin, institutional innovation may occur not as a result of a planned sequence of adjustments, but arising out of the interplay of several factors. By focusing on the basin trajectory this paper illustrates the importance of...

In Our Lives in Their Portfolios, Brett Christophers provides an account of the rise of 'asset manager society' - a world in which the infrastructures of public life are converted from public to private ownership. Here I use Christophers' analysis to comment on growing calls for asset manager...

An important source of political opposition to measures aimed at reducing emissions of greenhouse gases (GHGs) arises from concerns over their negative effects on the competitiveness of domestic firms, especially those that are energy-intensive and exposed to competition from foreign producers....

A growing number of financial institutions, ranging from BlackRock to the Bank of England, have warned that markets may not be accurately incorporating climate change-related risks into asset prices. This Article seeks to explain how this mispricing can exist at the level of individual assets...

A growing number of investors, insurers, financial services providers, and nonprofits rely on information about localized physical climate risks, like floods, hurricanes, and wildfires. The outcomes of these risk projections have significant consequences in the economy, including allocating...