SYSTEM-LEVEL INVESTING KNOWLEDGE LABby The Shareholder Commons
FEATURED EVIDENCE
key chart from the study

Unpriced climate externalities cost diversified portfolios more than any single holding gains

Externality Research Database · Partner study, 2026

What the finding means for a universal owner, how it translates from macroeconomic drag to portfolio return, and which actions it points to.

Read the evidence brief →
MORE FROM THE DATABASE
Antimicrobial resistance and GDP drag by 2050Macroeconomic study · 2025 Inequality and long-run equity returnsAcademic · 2024 Biodiversity loss and sovereign credit riskCentral bank · 2025 View the database →
NEW IN THE LIBRARY
Investor guide: public policy actionsTSC · Guide · New Climate Risk Playbook (prototype)Open for feedback until May 20 Fiduciary duty and systemic risk: legal memoPartner · Legal Browse the library →
TAKE ACTION

Four ways investors act on the evidence

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Capital Allocation Corporate Stewardship Collective Action Public Policy Engagement
Get Involved Roundtable · Systemic Risk & Investor Resilience, May 12, 12:00–1:30 ET Submit a resource Request a support meeting View all →