Watch the full webinar: Temperature Check with Nili Gilbert >
The path to solving the climate crisis demands engaged leaders working together across every facet of society. That’s why Carbon Direct Vice Chairwoman Nili Gilbert is seeking diverse perspectives to drive solutions to global climate action, starting with New York City Comptroller Brad Lander.
Nili is sharing her conversations in a new web series, Temperature Check, which includes leaders from all sectors—from policymakers and community leaders to corporate executives and financial experts. In her first episode, Nili and Lander discussed how his decisions as Comptroller—New York City’s chief financial officer—affect climate outcomes.
A comptroller’s role in climate action
While the idea of a comptroller as a climate leader may not be obvious to some, climate-related risks affect every aspect of this role, which includes managing the city’s five pension funds. Lander is responsible for around $270 billion in assets that New York City’s employees will rely on in retirement. According to Lander, “it most certainly means confronting climate risk, both doing our part as a city to reduce emissions and mitigate the climate crisis.”
How is sustainable investing consistent with long-term financial outcomes? As a universal owner—an institutional investor that is so large that its diversified portfolio represents a slice of the entire market—Lander acknowledges “you own the carbon emissions of the global economy.” But by investing in companies that promote a sustainable transition, Lander and other finance leaders can collectively reduce the negative effects of climate change that threaten our future economy, and therefore the pensions’ long-term returns. As Lander warns, “saying, ‘what I care about is how much money can I make between today and tomorrow—next year or next decade be damned,’ is short-sighted financially.”
As Comptroller, Lander is also responsible for government accountability, conducting annual audits to ensure that city programs are efficient—and importantly—equitable and sustainable. “We have climate goals. We're thinking about how resources are distributed …that's a critical part of accountability,” says Lander.
For every aspect of his position, Lander is also thinking ahead to the social impacts of climate change, as what he calls “chief long-term view officer.” In this role, his team is working to mitigate the adverse impacts and unlock the opportunities created by climate change for the citizens of New York over the next decade and beyond.
The long-term view: Community-based leadership
As Lander looks to solve future climate challenges, he’s informed by his past experience as a community organizer. “Over the years, I started to see the connections between that community development, anti-poverty, affordable housing, tenants' rights, economic justice work, and all these climate and environmental issues.”
These experiences taught Lander to look for added opportunities to reduce inequality and strengthen communities as part of a long-term climate vision. Planning resilient civic infrastructures, for example, is an opportunity to create well-paying jobs. Community- engagement for climate resiliency efforts can turn into leadership and advocacy training for the city’s high school students.
Despite the diverse functions of Lander’s role, the work of a city comptroller is rarely a high-profile position. Even Lander admits, “who's dreaming of growing up to be a Comptroller?” But from safeguarding retirement funds for city employees to ensuring just, equitable communities, his job has crucial long-term impacts on New York communities—which means that the effects of climate change touch nearly every decision as a chief financial officer. As he puts it, “It seems to be clear that if your job is focused on the future, confronting the climate crisis has to be job number one.”
Tags
Carbon Reduction
Environmental Justice
