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Principles to guide investment towards a stable climate

Nature Climate Changevolume 8pages24 (2018) | Download Citation

Investors will play a major role, whether active or passive, in climate change mitigation. To enable prudent decision-making, we propose three physically based engagement principles that could be used to assess whether an investment is consistent with a long-term climate goal.

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R.J.M., C.H. and M.R.A. would like to acknowledge financial support through the Oxford Martin Net Zero Carbon Investment Initiative. We would like to acknowledge valuable comments and feedback from E. Adlen and R. Rafaty. We are grateful to the participants of two workshops held in mid-2015, the first chaired by M. Smith at the Oxford Martin School and the second by D. Schrag at Harvard University’s Centre for the Environment, which helped inform much of our thinking when developing an early version of these principles.

Author information


  1. Environmental Change Institute, University of Oxford, Oxford, UK

    • Richard J. Millar
    •  & Myles R. Allen
  2. Institute for New Economic Thinking, Oxford Martin School, Oxford, UK

    • Cameron Hepburn
  3. Smith School of Enterprise and the Environment, University of Oxford, Oxford, UK

    • Cameron Hepburn
  4. Oxford Martin School, University of Oxford, Oxford, UK

    • Cameron Hepburn
    • , John Beddington
    •  & Myles R. Allen
  5. Department of Physics, University of Oxford, Oxford, UK

    • Myles R. Allen


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Correspondence to Richard J. Millar.

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