Skip to main content

About Us

Taking on the climate crisis and its widespread impacts on people, the planet, and the economy requires substantial transformations in market dynamics and financial flows.

Over the last several years, governments, financial institutions, and for- and non-profit actors have been innovating with approaches and methodologies to manage the physical and transition risks of climate change and to support the alignment of business and finance to the energy transition. Legislators and regulatory bodies are increasingly integrating both the design and oversight of these methodologies in law.

The Sabin Center for Climate Change Law (the Sabin Center) and the Columbia Center on Sustainable Investment (CCSI) established the Climate Law and Finance Initiative (CLFI) to conduct rigorous transdisciplinary research and analysis that addresses interrelated legal, policy, and finance pathways to achieving climate goals at multiple scales of governance.

Our Mission

The Climate Law & Finance Initiative (CLFI) serves as a hub of transdisciplinary research and engagement to advance global understanding of the role of the interrelated areas of law, policy, and finance in addressing the climate crisis and accelerating the energy transition. CLFI’s work is guided by a foundational focus on real-world effectiveness.

Our Experts

Michael Burger

Michael Burger

Executive Director, Sabin Center for Climate Change Law

As Executive Director of the Sabin Center for Climate Change Law, Michael leads a dynamic team that is at the forefront of domestic and international efforts to reduce greenhouse gas emissions and promote climate change adaptation through pollution control, resource management, land use planning and green finance. Past and present projects involve collaborations with local and national environmental groups and government representatives, as well as international organizations such as the United Nations Environment Program, the United Nations Development Program, and the International Red Cross. Michael is a widely published scholar, a frequent speaker at conferences and symposiums, and a regular source for media outlets. He has taught at Columbia Law School, NYU Law School and Roger Williams School of Law, and has led short courses on climate change and human rights in the Hague and Grand Cayman. He is also a co-founder and member of the Environmental Law Collaborative. Michael is Of Counsel at Sher Edling LLP, a boutique plaintiffs firm that represents states, cities, public agencies, and businesses in high-impact, high-value environmental cases.
Lisa Sachs headshot

Lisa Sachs

Director, Columbia Center on Sustainable Investment

Lisa Sachs is the Director of the Columbia Center on Sustainable Investment. Since joining CCSI in 2008, she established and oversees CCSI’s robust and interdisciplinary research portfolio and advisory work on the alignment of investment law, investment practice, and investment policy with the sustainable development goals. She is a globally recognized expert in the ways that laws, policies and business practices shape global investment flows and affect sustainable development. She works with governments around the world, regional and international development organizations, financial institutions, companies, civil society organizations and academic centers to understand the inter-relations of investment flows and sustainable development, and to influence investment policies and practices to promote the SDGs and the Paris Agreement. She has served on World Economic Forum Global Future Councils and on several advisory boards, including of the Investor Alliance for Human Rights and the SDG Academy. Before joining CCSI, she worked at the Interfaith Center on Corporate Responsibility and at Amnesty USA, in both cases on shareholder engagement. She received a Bachelor of Arts in Economics from Harvard University, a Master’s degree in International Affairs from Columbia’s School of International and Public Affairs, and a Juris Doctor degree from Columbia Law School, where she was a James Kent Scholar and recipient of the Parker School Certificate in International and Comparative Law.
Martin Brauch headshot

Martin Dietrich Brauch

Lead Researcher, CCSI

As a Lead Researcher at CCSI, Martin Dietrich Brauch leads economic and legal research, training, and advisory work, with a focus on legal and policy frameworks and practices for sustainable investment to achieve climate change mitigation and adaptation goals—including through decarbonization and a just transition to net-zero emission energy systems and economies—along with other SDGs. He has worked extensively with developing countries in Africa, Asia, Latin America, and the Caribbean, speaking English, French, Portuguese, and Spanish. Prior to joining CCSI, he worked as international law advisor at a global think tank, in-house counsel at a media conglomerate, and associate attorney at a boutique law firm. As a graduate student, he undertook a legal internship at United Nations Climate Change. He received a B.A. in Economics, a Bachelor of Laws, and a specialization certificate in Environmental Law from the Federal University of Pelotas, Brazil. He holds an LL.M. in International Legal Studies from NYU School of Law, where he was an IILJ International Law Fellow.
Ana Maria Camelo Vega Headshot

Ana Maria Camelo Vega

Senior Economics and Finance Researcher, CCSI

Ana Maria Camelo Vega is an experienced Economist and Internationalist born and raised in Colombia. With a MSc in Public Policy from New York University and a robust background in economics, she brings a distinct perspective to the intricate realm of finance. Throughout her career, she has focused on fostering evidence-based sustainable development initiatives from a multidisciplinary approach. At CCSI, she leads applied research on sustainable finance, with a strong emphasis on international and alternative investment initiatives to finance a just energy transition.
Laura Garcia headshot

Laura Garcia Cancino

Senior Legal Researcher, CCSI

Laura Garcia Cancino is a Senior Legal Researcher at CCSI, with a focus on leveraging law and metrics to address climate change challenges and accelerate the energy transition. Her expertise also encompasses the role of extractive industries in sustainable investment. Prior to joining CCSI, her work at the International Energy Agency (IEA) centered on energy efficiency and demand-side measures’ pivotal role in reducing fossil fuel dependence and driving the energy transition. With a comprehensive legal background in Latin America, she has additionally served as in-house counsel for a multinational oil and gas explorer, managing E&P and dispute resolution matters. Her legal insight extends from her former position as an Associate of an international law firm’s Energy, Mining, and Infrastructure team, offering strategic guidance to multinational companies engaged in developing large-scale projects in the mining, oil and gas, power, and renewable sectors. She holds a J.D. from Universidad del Rosario in Colombia, an Advanced Degree in Mining & Energy Law and Sustainable Development from Universidad de los Andes, where she graduated first of her class, a Master of Science in International Energy from the Paris School of International Affairs at Sciences Po, where she served as a Board Member of the Sciences Po Energy Association, and an LL.M. in Energy and Environmental Law from Georgetown University Law Center, where she graduated with honors. She is also a co-founder of coMpower, a nonprofit association that promotes the participation and empowerment of young women in the energy sector in Colombia.

Ilmi Granoff headshot

Ilmi Granoff

Senior Fellow, Sabin Center for Climate Change Law

Ilmi Granoff is a Senior Fellow at the Sabin Center for Climate Change Law and Adjunct Research Scholar at Columbia Law School. He is an attorney and climate and sustainable finance expert with over two decades of experience—spanning public, private, and third-sector institutions—working on the policy and financing of the transition to a net-zero greenhouse gas, sustainable economy. He serves as a trusted advisor, manager, and fiduciary for philanthropies, governments, financial institutions, and companies on sustainable finance and policy matters in the US, Europe, Latin America, and Africa, and an accomplished speaker, researcher, and author.
Cynthia Hanawalt headshot

Cynthia Hanawalt

Director of Climate Finance & Regulation, Sabin Center

Cynthia Hanawalt is the Director of the Sabin Center’s financial regulation practice. Her work supports regulatory and policy responses to climate-related financial risk at the federal and state level and includes a focus on the complex intersections of ESG and antitrust law with sustainability goals and climate resiliency measures. Cynthia is affiliated with Columbia Climate School and the Initiative for Climate Risk & Resilience Law. She is a frequent speaker and media source and writes regularly on issues of climate law and finance.

Prior to joining the Sabin Center, Cynthia served as Chief of the Investor Protection Bureau for the New York State Office of the Attorney General. Under her leadership, the Bureau recovered over $850M on behalf of New York investors and achieved groundbreaking results in electronic trading and cryptocurrency matters. Previously, she was a litigation partner at the firm Bleichmar Fonti & Auld LLP.

Cynthia serves as a Trustee and Chair of the Audit Committee of Wave Hill, a public garden and cultural center in the Bronx. She is a graduate of Columbia Law School, where she was a Harlan Fiske Stone Scholar, and Duke University, where she received the William J. Griffith University Service Award.

Denise Hearn headshot

Denise Hearn

Resident Senior Fellow, CCSI

Denise Hearn is a writer, applied researcher, and advisor focused on how economic power and paradigms shape our world. She advises governments, financial institutions, companies, and nonprofits on antitrust, economic policy, and new economic thinking. She co-authored The Myth of Capitalism: Monopolies and the Death of Competition – named one of the Financial Times’ Best Books of 2018. Her writing has been translated into 9 languages and featured in publications such as: The Financial Times, The Globe and Mail, Stanford Social Innovation Review, Responsible Investor, and The Washington Post. She currently authors the Embodied Economics newsletter. She is Advisory Board Chair of The Predistribution Initiative and was previously a Senior Fellow at the American Economic Liberties Project. She has an MBA from the Oxford Saïd Business School and a BA in International Studies from Baylor University.
Martin Lockman headshot

Martin Lockman

Climate Law Fellow, Sabin Center

Martin Lockman joined the Sabin Center in 2022 as the 2022-2024 Climate Law Fellow. Prior to joining the Sabin Center, Martin specialized in renewable energy and infrastructure finance at Milbank LLP’s New York office. From 2021-2022, Martin clerked for the Honorable Cynthia M. Rufe on the United States District Court for the Eastern District of Pennsylvania.

Martin graduated from Columbia Law School in 2019, where he was a James Kent Scholar (2017-2019) and a Harlan Fiske Stone Scholar (2016-2017). At Columbia, Martin served as Articles Editor for the Columbia Human Rights Law Review, worked as a Research Assistant at the Columbia Center on Sustainable Investment, and spent a semester in the Law and Finance MLS program at Oxford University through Columbia’s Global Alliance Program. Before law school, Martin worked as a community organizer in the coalfields of southern West Virginia. He received his Bachelor of Arts from Washington University in St. Louis in 2014.

Perrine Toledano headshot

Perrine Toledano

Director of Research & Programs, CCSI

Perrine Toledano oversees the development of a coordinated, integrated, and impactful program of research across CCSI’s thematic areas of interest. With her deep expertise in natural resource governance, she leads research, training, and advisory projects on the impact of the energy transition on extractive industry investments and resource-rich countries, as well as on the deployment of large-scale investments in renewable energy, zero-carbon industrialization, and economy-wide decarbonization. She jointly developed curricula for a masters and an executive course on extractives and sustainable development taught at Columbia University, and she is co-editor of two volumes published by Columbia University Press (Rethinking Investment Incentives: Trends and Policy Options and The New Frontiers of Sovereign Investment). Perrine serves on several advisory boards and expert working groups. Prior to joining CCSI, she worked as a consultant for such organizations as the World Bank and Revenue Watch Institute (now NRGI), as well as private sector companies, including Natixis Corporate Investment Bank and Ernst and Young. Her experience includes auditing, financial analysis, IT for capital markets, public policy evaluation, and cross-border project management. She has a Masters of Business Administration from ESSEC in Paris, France, and a Masters of Public Administration from Columbia University.

Caroline Flammer headshot

Caroline Flammer

Professor of International and Public Affairs and of Climate, Columbia School of International and Public Affairs

Caroline Flammer is a Professor of International and Public Affairs and of Climate at Columbia University with joint appointments at the School of International and Public Affairs (SIPA) and the Climate School. She is also a Research Associate at the National Bureau of Economic Research (NBER) and a Research Member at the European Corporate Governance Institute (ECGI). Caroline is an expert in sustainable investing and the recipient of numerous prestigious awards. Her research examines whether and how sustainable finance and impact investing can help finance a more sustainable world. Moreover, her research examines how, and under which conditions, firms can incorporate environmental, social, and governance (ESG) considerations into their activities to enhance their competitiveness while strengthening—instead of undermining—the very system in which they operate and hereby play a critical role in addressing climate change, inequality, global health, and other grand challenges related to society and the natural environment. The Web of Science ranked her among the top-100 Highly Cited Researchers in the economics and business profession in terms of impact over the past 10 years. At Columbia, she teaches the graduate courses “Social Impact: Business, Society, and the Natural Environment”, “Sustainable Investing Research Consulting Project”, and “Sustainable Finance II: System-level Investing”. Furthermore, she serves as the Director of SIPA’s Sustainable Investing Research Initiative (SIRI) which aims to foster scholarship, education, and dialogue on the interplay and interdependencies between investment and major challenges such as climate change, biodiversity loss, poverty, and social inequalities. Among other roles, Caroline serves as the President of the Alliance for Research on Corporate Sustainability (ARCS), a global multi-disciplinary network of scholars fostering rigorous academic research on corporate sustainability, and as the Chair of the Academic Advisory Committee of the United Nations-supported Principles for Responsible Investment (PRI), the largest network of responsible investors to date. She is an Associate Editor for both Management Science and the Strategic Management Journal. For further information: http://www.columbia.edu/~cf2870/.

Michael Gerrard headshot

Michael Gerrard

Andrew Sabin Professor of Professional Practice, Columbia Law School

The founder and faculty director of the groundbreaking Sabin Center for Climate Change Law and one of the foremost environmental lawyers in the nation, Michael Gerrard is an advocate, litigator, teacher, and scholar who has pioneered cutting-edge legal tools and strategies for addressing climate change. He writes and teaches courses on environmental law, climate change law, and energy regulation. He was the chair of the faculty of Columbia University’s renowned Earth Institute from 2015 to 2018.

For three decades, before joining the Columbia Law School faculty in 2009, Gerrard practiced law in New York, most recently as the partner in charge of the New York office of Arnold & Porter, where he remains senior counsel. As an environmental lawyer, he tried numerous cases and argued many appeals in federal and state courts and administrative tribunals. He also handled the environmental aspects of diverse transactions and development projects and provided regulatory compliance advice to an array of clients in the private and public sectors. Several publications rated him the leading environmental lawyer in New York and one of the leaders in the world.

Camille Pannu headshot

Camille Pannu

Associate Clinical Professor of Law, Columbia Law School

Camille Pannu’s practice draws on principles of community lawyering and uses transactional law tools to achieve environmentally just outcomes for low-income communities. Her research focuses on structural racism, poverty, and environmental inequality in low-income, rural, and unincorporated communities, and her work examines how groups leverage power through corporate law and local government to assert control over shared environmental resources and essential infrastructure.

Pannu joined the Columbia Law faculty as associate clinical professor on July 1, 2022, where she is the founder and director of the Just Transition Clinic, which uses transactional and policy advocacy strategies to address the disproportionate impacts of climate change on low-income communities of color, with particular attention to the circumstance of workers and shifts to sustainable production.

Shivaram Rajgopal headshot

Shivaram Rajgopal

Roy Bernard Kester and T.W. Byrnes Professor of Accounting and Auditing, Columbia Business School

Shiva Rajgopal is the Kester and Byrnes Professor of Accounting and Auditing at Columbia Business School. He has also been a faculty member at the Duke University, Emory University and the University of Washington. Professor Rajgopal’s research interests span financial reporting, earnings quality, fraud, executive compensation and corporate culture. His research is frequently cited in the popular press, including The Wall Street Journal, The New York Times, Bloomberg, Fortune, Forbes, Financial Times, Business Week, and the Economist. He teaches fundamental analysis of financial statements for investors, managers and entrepreneurs and a PhD seminar on accounting regulation.

Key awards include 2006 and 2016 American Accounting Association (AAA) Notable Contribution to the Literature award, 2006 and 2016 Graham and Dodd Scroll Prize given by the Financial Analysts Journal, and the 2008, 2012 and 2015 Glen McLaughlin Award for Research in Accounting Ethics.

He is the Departmental Editor of the Accounting track of Management Science. He is also an Associate Editor at the Journal of Accounting and Economics and an ex-editor at Contemporary Accounting Research. He was on the editorial board of The Accounting Review from 2003-2011.

Adam Sobel headshot

Adam Sobel

Professor of Applied Physics and Applied Mathematics and of Earth and Environmental Sciences, Columbia Engineering

Adam Sobel is a professor at Columbia University’s Lamont-Doherty Earth Observatory and Engineering School. He studies the dynamics of climate and weather phenomena, particularly in the tropics. In recent years he has become particularly interested in understanding the risks to human society from extreme weather events and climate change. He is author or co-author of over 150 peer-reviewed scientific articles; a popular book, Storm Surge, about Hurricane Sandy; and numerous op-eds.

Four Pillars of Research

CLFI’s applied research agenda focuses on four pillars. Across all of these pillars, CLFI’s research and analysis is both informed by and seeks to influence the Initiative’s convenings and engagement with experts, practitioners, policymakers, advocates, and the public.