IPAA Access - Summer 2016 - (Page 19)

Feature: Fossil Fuel Divestment Update LARGEST COSTS OF FOSSIL FUEL Divestment has Nothing to do with Lost Returns By Prof. Hendrik Bessembinder THE ONGOING DEBATE ABOUT WHETHER INSTITUTIONS THAT DIVEST THEIR FUNDS OF FOSSIL-FUEL ASSETS SHOULD EXPECT HIGHER RETURNS IN THE FUTURE, LOWER ONES, OR NO MEANINGFUL CHANGE AT ALL COULD BE ENDED RATHER ABRUPTLY IF WE HAD ACCESS TO THE GUIDANCE OF A CRYSTAL BALL. b But since we don't, many endowment and pension fund managers studying the issue have been forced to make decisions on the basis of which set of arguments appeals to them more: that making a portfolio less diversified tends to weaken performance over time; or that markets are systematically overvaluing energy stocks, so the smart move is to get out now. www.ipaa.org IPAA ACCESS MAGAZINE 19 http://www.ipaa.org

Table of Contents for the Digital Edition of IPAA Access - Summer 2016

President's Message
Anti-Fossil Fuel Activists Sue EPA on Oil and Gas Waste Rules
Ensuring U.S. Offshore Energy Production is the Safest in the World
Largest Costs of Fossil Fuel Divestment has Nothing to do with Lost Returns
Industry Recognizes Importance of Worker Safety in Silica Rule
Infographic: Petroleum Products and You: Oil and Gas Materials Used in Hospitals to Save Lives
Congressional Call-Up
Wildcatters' Ball
Texas Wildcatters' Open
OGIS New York
Private Capital Conference
Strategic Planning Conference on Land Access and Environmental Issues
NAPE Summit
2016-17 MeetingsS & Events
Chairman's Club Thank You
New Members
Index of Advertisers

IPAA Access - Summer 2016