Affiliates Peter Tufano and Christianna Wood Speak on ESG Disclosures and Business Collaborations to Address Climate Change at Analysis Group Events

November 14, 2024

Analysis Group affiliates Peter Tufano and Christianna Wood spoke about ESG disclosures and corporate collaborations to address climate change at private dinner events in New York City and Washington, DC, hosted by Analysis Group. In their presentation, “It’s Not Easy Being Green: Navigating ESG and Climate Change in Global Securities Markets and Antitrust Regimes,” Professor Tufano and Ms. Wood explored antitrust concerns around corporate climate alliances and the potential risks associated with environmental, social, and governance (ESG) disclosures. The program was organized by Analysis Group Managing Principal Andrea Okie and Vice President Anne Catherine Faye and moderated by Ms. Okie.  

Professor Tufano, the Baker Foundation Professor at Harvard Business School and an expert on business solutions to climate change, centered his discussion on corporate climate alliances: groups of competitor companies that formally collaborate to set climate goals, develop capabilities, and influence a transition toward a less carbon-intensive economy. He described the potential benefits of these coalitions, noting that businesses may be well suited to advancing progress toward climate goals. He acknowledged, however, the corresponding risk of antitrust litigation: While other countries have recognized an exception to antitrust enforcement for competitor companies collaborating on climate issues, US agencies, to date, have not done so. Professor Tufano concluded by presenting his own research findings from a study exploring these issues.

Ms. Wood, an expert in institutional finance and corporate governance, complemented Professor Tufano’s perspective with that of an experienced practitioner in her presentation on issues related to ESG disclosures. She juxtaposed investors’ desires for climate-related disclosures with the ambiguity that US companies face regarding what – and how much – information can or must be shared with investors. She discussed ESG disclosure regulations, litigation risks posed by companies’ disclosure of non-financial information, and the possibility that companies will roll back their public climate commitments in response to these risks.