Monthly Archives: April 2020

A Meditation on Juliana v. United States

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A Meditation on Juliana v. United States
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In August 2015, 21 plaintiffs, ranging from 8-19 years old at the initial hearing, filed a landmark lawsuit against the United States as well as many specific members of the Federal Government. In short, their claim was that the U.S. Government had knowingly violated the rights of the plaintiffs and future generations, by encouraging, subsidizing, and permitting activities relating to carbon and other greenhouse gas emissions. The consequences of these actions will infringe on the plaintiffs constitutional rights to life and liberty. They further asserted that, since most of their generation does not yet have the right to vote, they had been robbed of their future before they even had a say.

Remarkably, the case made its way through the legal system to the Ninth Circuit Court of Appeals before it was dismissed there and is currently pending on appeal, which many hope could be won such that it would move forward to the Supreme Court in 2021. In the meantime, the Juliana v. US case has sparked a litany of opinion pieces, amicus curiae briefs, and academic attention.

It has even grabbed the attention of Lisa Heinzerling, the Justice William J. Brennan, Jr., Professor of Law at the Georgetown University Law Center. Heinzerling is an award winning professor and researcher, as well as an expert in the fields of administrative law, environmental law, food law, and torts. She has also published several books, notably: Priceless: On Knowing the Price of Everything and the Value of Nothing.

In this “meditation,” Heinzerling takes us along on the journey of Juliana v. US, as only an expert can. Explaining the complexities of the case and its many appeals in common language, Heinzerling notes how fascinating this case truly is, its impact after its dismissal, and the future implications of climate law. Ultimately, Juliana v. US was dismissed on a technicality, and even then it was dismissed 2-1. By comparing this case to one with a related one: Exxon v. Healey, Heinzerling explores the possibility that this may be only the beginning of this sort of lawsuit and expresses her dissatisfaction with the dismissal of Juliana v. US.

Part of the Environmental Law & Policy Program Lecture Series. 

Financing a Sustainable Future

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In the coming years, climate finance and sustainable investing will likely be some of the most transformed sectors in the world. David Blood, co-founder and Senior Partner of Generation Investment Management (GIM), joins the University of Michigan community to share his expertise and 30+ years of experience on the cutting edge of sustainable finance.

Chairman of Dialight, one of the co-chairs of The World Resources Institute, board member of several organizations, such as: On the Edge Conservation and The SHINE Group, David Blood has one of the most impressive resumés and investment portfolios in the world. In a talk given at the University of Michigan’s Ross School of Business, Blood outlined his past experiences within the investment sector and where he sees the field moving in the near future.

From education to child psychology to finance to leading the world in sustainable investing, David Blood came to the forefront of the investing world when he left an 18-year long career at Goldman-Sachs to join Al Gore in founding GIM. A mission driven institution, GIM has lead the charge on divestment, redefined best practices, and incorporated social justice and equity throughout their portfolio. They are now one of the most successful investment agencies in the world.

In the past, investing has revolved around two aspects: risk and return. Impact has traditionally been viewed as a side effect of the process, not a consideration. However, as Blood notes, “all investing has impact,” and whether that be positive or negative is the “fiduciary duty” of the investor. GIM has set the bar for incorporating impact into their mission.

“All investing has impact.”

– David Blood

Blood believes that sustainability and climate are current and future drivers of economies and that the shift towards a “green economy” will happen sooner than people think. Cautioning the public not to assume that what has happened in the past will also happen in the future, Blood predicts that the coming years will entail “the most significant economic shift in history.”  

“It cannot be incremental, it must be transformational.”

– David Blood

Following Blood’s talk, a panel of experts convened to discuss sustainable finance and divestment within the state of Michigan. The panelists were:

The panel discussed transitioning to a sustainable economy, the potential of a carbon tax, what a just transition would entail, and some obstacles that prevent sustainable investing. Using real data and their collective decades of expertise, the panel predicted what urgency in the economic sector will look like over the next few years. The evening concluded with a Q&A section.