699: Robert Litterman, part 1: A Carbon Tax and Managing Risk
I met Bob at a conference on climate at my old school, Columbia Business School. He knew another participant, Gernot Wagner, with whom I recorded an episode I'll post soon, and was a peer with past guest Mark Tercek. I didn't work in finance, but I understand Bob and Mark were like dieties there. Bob brings two huge new things to climate (he talks about climate almost exclusively among our environmental problems, though we touch on others briefly in the conversation). First, he knows risk management. Most of his career, he didn't think much about the environment, but when he learned about it, he identified that we have to manage risk, so he dove into the issue. Second, he connected with a group of conservative…
