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University of Richmond Magazine - Autumn 2024
Get PDFThe University of Richmond\u27s Alumni Magazine was first published as The Alumni Bulletin in 1936 and continues to this day as the University of Richmond Magazine
Utilities With Purpose
Get PDFEnvironmental, social, and governance (ESG) reporting has become a mainstay of corporate and investment decision-making, although not without controversy. Corporations are increasingly making ESG disclosures to assess and limit risks, to bolster their reputations, and to attract and keep customers. But one group of companies is significantly behind on moving toward meaningfully achieving ESG goals: large, investor-owned electric utilities (IOUs). IOUs are critical to the clean energy transition through mitigating their climate change impacts. While they claim to be increasingly focused on the environmental and social aspects of their actions, they are hampering progress on climate change. This Article is the first to describe the intersecting reasons why utilities’ ESG commitments fall short of supporting the clean energy transition and the first to suggest a remedy. Utilities’ ESG disclosures are inadequate and lack transparency, and utilities are not meeting the limited commitments they have made to reduce carbon emissions. Also, unlike other public corporations, utilities are monopolies governed by state public utility commissions (PUCs), which amplifies the effects of utilities’ wide-ranging abuses of the regulatory system
Capital Gains Realizations
Get PDFIf there are important nondeductible costs to long-term investing, then higher capital gains tax rates may encourage or discourage investors from realizing accumulated gains. This ambiguity suggests that the sizeable observed effects of capital gains taxes on realizations may partly reflect factors other than the time value of money, such as investor anticipations of future tax rate changes