NEW YORK, April 28, 2021 /PRNewswire/ -- Leading
global investment management firm AllianceBernstein L.P. ("AB")
(NYSE: AB) has been announced as the Founding Member of the
Corporate Affiliate Program at the newly launched Columbia Climate
School, the first purpose-built school of its kind in the world
focused exclusively on tackling climate change and its related
challenges by integrating climate activity at the university to
connect, amplify, and advance new areas of inquiry into climate
with a laser focus on developing solutions.
AB's commitment to the Climate School marks a new paradigm in
how financial services firms are addressing the challenges posed by
climate change. For Columbia, the
inclusion of a commercial enterprise in the development of the
landmark Columbia Climate School signals a recognition that the
size, scope and challenge presented by climate change warrants a
new approach in academia that proactively leverages the role of
businesses and capital markets in solving for, and impacting, these
issues.
As the Founding Member of the Corporate Affiliate Program, AB
will facilitate the engagement of commercial enterprise with
Columbia's pioneering climate and
sustainability research. By bringing together the perspectives of
investors and scientists, AB and Columbia will seek to leverage their unique
skills and insights to help shape the next generation of
professionals who will be working on managing climate risk and
solutions across the industries, sectors and countries that the
firm invests in across the globe every day.
As part of the exclusive, three-year agreement, AB and
Columbia will embark on a research
agenda focused on the intersection of climate science and academic
study with investment decisions. The research enterprise will
comprise of ongoing interaction between AB's investors and
Columbia's scientists and experts
on core climate issues as they arise in the investing process
across portfolios, sectors, asset classes and regions. The parties
will also collaborate on long term, in-depth research into the most
significant climate-related challenges, such as the approach to net
zero and the role and interaction of various parties and
stakeholders in achieving this target in the next 30 years.
The agreement represents the second phase of Columbia and AB's collaboration, which
commenced in September 2019. The
landmark first phase saw AB and Columbia co-develop a first-of-its-kind
curriculum focused on integrating climate science into portfolio
management and construction. More than 250 of AB's investors, as
well members of the Board of Directors and the executive team,
participated in the intensive, research-based training program.
The collaborative training has given AB investors greater
insight into the science behind a changing climate and its
implications on the issuer, portfolio and macroeconomic contexts,
while Columbia scientists benefit
from a better understanding of the investing process, in order to
better design and disseminate decision useful information to
companies, communities and governments.
A key component of the collaboration is to engage with the wider
investment market on how to address climate change. As part of the
initiative, AB and Columbia have
recently rolled out the highly successful Climate Change and
Investment Academy, which has seen a global cohort of more than
1,000 asset owners and consultants trained and certified on a
series of key climate finance issues and research.
As part of the long-term collaborative research agenda, AB and
Columbia will continue to partner
with AB's clients in addressing the challenges and questions
associated with climate change with a view towards developing
meaningful solutions.
"We are thrilled to launch our Climate School's Corporate
Affiliate Program and to deepen our partnership with
AllianceBernstein," said Alex
Halliday, Founding-Dean of the Columbia Climate School and
Director of the Earth Institute. "I strongly believe that if you
want to effect real change in the world you need to think about how
you can engage the business community. This partnership represents
an unprecedented opportunity to do just that—to build the business
community into the new school's dynamic, solutions-driven
transdisciplinary model. AB's role will be integral for providing
our scientists with a view of the potential impacts of their work
and research in practice across sectors, industries, and countries.
This collaboration between science and finance is critical to
developing and identifying solutions to the climate
crisis."
"Our partnership with the Columbia Climate School
demonstrates the depth of AB's commitment to advancing the
integration and understanding of climate change into decisions
facing investors, businesses, governments and society," said
Seth Bernstein, President and CEO of
AllianceBernstein. "The urgency of climate change means that
investors need to go beyond the traditional approach to risk,
research, analysis and engagement to develop knowledge and human
capital within the investment industry that is acutely focused on
this issue for decades to come. We are proud to be continuing our
groundbreaking work with Columbia
University, and to be helping to shape how our industry
fights climate change, both today and in the future."
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. The firm has $697 billion in
client assets under management, as of March
31st, 2021.
Additional information about AllianceBernstein may be found on
our website at www.alliancebernstein.com
About Columbia Climate School
Announced in July
of 2020, the Columbia Climate School will be the first of its kind
and the first new school at Columbia
University in more than 25 years. The climate crisis is one
of the greatest threats facing humanity. The Columbia Climate
School will provide the scholarship needed to tackle climate change
and its related challenges. It will offer solution pathways through
transdisciplinary research, education, partnerships, innovative
technologies, and the sharing of ideas. The School will ensure that
students are equipped with the knowledge and tools necessary to
lead on the climate crisis.
The School will serve as an integrated hub of climate activity
at the University to connect, amplify and advance new areas of
inquiry and research in the field of climate at Columbia. The School will encompass the Earth
Institute research centers and programs, build on Lamont-Doherty
Earth Observatory's decades of earth science research, and involve
schools and departments from across the University.
For more information on Columbia Climate School, visit our
website at www.climate.columbia.edu
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SOURCE AllianceBernstein