Al Gore possible presidential campaign, 2016/Government regulations
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 Al Gore |
Vice President of the United States (1993-2001) U.S. Representative (1977-1985) U.S. Senator (1985-1993) |
 Democratic candidates: |
2028 • 2024 • 2020 • 2016 |
This page was current as of the 2016 election.
- In A Manifesto for Sustainable Capitalism, Al Gore advocated for a new form of capitalism. He said, "we and others have called for a more responsible form of capitalism, what we call sustainable capitalism: a framework that seeks to maximize longterm economic value by reforming markets to address real needs while integrating environmental, social and governance (ESG) metrics throughout the decision-making process." He advocated for five specific measures of business regulation and reformation:[1]
- "Identify and incorporate risk from stranded assets. "Stranded assets" are those whose
- value would dramatically change, either positively or negatively, when large externalities
- are taken into account—for example, by attributing a reasonable price to carbon or water."
- "Mandate integrated reporting. Despite an increase in the volume and frequency of
- information made available by companies, access to more data for public equity investors
- has not necessarily translated into more comprehensive insight into companies. Integrated
- reporting addresses this problem by encouraging companies to integrate both their financial
- and ESG performance into one report that includes only the most salient or material
- metrics. This enables companies and investors to make better resource-allocation decisions by
- seeing how ESG performance contributes to sustainable, long-term value creation. While
- voluntary integrated reporting is gaining momentum, it must be mandated by appropriate
- agencies such as stock exchanges and securities regulators in order to ensure swift and
- broad adoption."
- "End the default practice of issuing quarterly earnings guidance. The quarterly calendar
- frequently incentivizes executives to manage for the short-term. It also encourages some
- investors to overemphasize the significance of these measures at the expense of longer-term,
- more meaningful measures of sustainable value creation."
- "Align compensation structures with long-term sustainable performance. Most existing
- compensation schemes emphasize short-term actions and fail to hold asset managers and
- corporate executives accountable for the ramifications of their decisions over the long-term.
- Instead, financial rewards should be paid out over the period during which these results are
- realized and compensation should be linked to fundamental drivers of long-term value,
- employing rolling multiyear milestones for performance evaluation."
- "Incentivize long-term investing with loyalty-driven securities. The dominance of short-termism
- in the market fosters general market instability and undermines the efforts of
- executives seeking long-term value creation."
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