Below you will find HBS faculty publications that address the challenges and opportunities posed by climate change.



"Woolf Farming and the California Water Crisis" by Forest Reinhardt, David Bell, Natalie Kindred, Mary Shelman, and Laura Winig (teaching case, 2015; revised 2016).

"Arcadia Biosciences: Seeds of Change" by Arthur Daemmrich, Forest Reinhardt, and Mary Shelman (teaching case, 2008; revised 2011).


"Solar Geoengineering" by Joseph Lassiter and Stephanie Puzio (teaching case, 2015; revised 2016).

"Carbon Engineering" by Joseph Lassiter and Sid Misra (teaching case, 2013; revised 2016).

"C12 Energy" by Joseph Lassiter and James McQuade (teaching case, 2013; revised 2014).

"TerraPower" by William Sahlman, Ramana Nanda, Joseph Lassiter, and James McQuade (teaching case, 2012; revised 2013).

"U.S. Department of Energy & Recovery Act Funding: Bridging the "Valley of Death" by Michael Roberts, Joseph Lassiter, and Ramana Nanda (teaching case, 2010; revised 2011).

"Highland Capital Partners: Investing in Cleantech" by Joseph Lassiter and David Kiron (teaching case, 2010; revised 2011).


"Nuclear Energy: An Answer to Climate Change?" by Michael Toffel, Glen Dowell, and James Weber (teaching case, February, 2016; revised September, 2016).

"Suncor and the Future of Oil Sands" by Richard Vietor (teaching case, February, 2016; revised March, 2016).

"China Shenhua Energy Company" by Forest Reinhardt, G. A. Donovan, and Keith Chi-ho Wong (teaching case, 2015); revised 2016).

"American Electric Power: Facing the Challenges of Distributed Generation" by Richard Vietor and Hilary White (teaching case, 2015; revised 2016).

"Husk Power" by Joseph Lassiter and Sid Misra (teaching case, 2014; revised 2016).

"CLP: Powering Asia" by George Serafeim, Rebecca Henderson, and Dawn Lau (teaching case, 2015).

"Duke Energy and the Nuclear Renaissance" by Richard Vietor and Forest Reinhardt (teaching case, 2011; revised 2014).

"Keystone XL Pipeline" by Richard Vietor (teaching case, 2012; revised 2014).

"Low-Carbon, Indigenous Innovation in China" by Richard Vietor (teaching case, 2012; revised 2014).

"AEP: Carbon Capture and Storage" by Richard Vietor (teaching case, 2010; revised 2013).

"Colbun and the Future of Chile's Power" by Forest Reinhardt and Shon Hiatt (teaching case, 2012).

"Khosla Ventures: Biofuels Gain Liquidity" by Joseph Lassiter, William Sahlman, Alison Berkley Wagonfeld, and Evan Richardson (teaching case, 2011; revised 2012).

"Accelerating Energy Innovation: Insights from Multiple Sectors" by Rebecca Henderson and Richard Newell, eds. (book, 2011).

"Colbun--Powering Chile" by Forest Reinhardt, Gustavo Herrero, and Sanjay Patnaik (teaching case, 2009).

"Global Climate Change and BP" by Forest Reinhardt and Mikell Hyman (teaching case, 2007; revised 2009).

"Cape Wind: Offshore Wind Energy in the USA" by Richard Vietor (teaching case, 2008).

Finance and Accounting

"Carbon Tariffs: Effects in Settings with Technology Choice and Foreign Production Cost Advantage " by David F. Drake, in Manufacturing and Service Operations Management (journal article, 2016).

"Ignore, Avoid, Abandon, and Embrace: What Drives Firm Responses to Environmental Regulation? " by David F. Drake and Robin L. Just, in Environmentally Responsible Supply Chains (book chapter, 2016).

"Is Cap-and-Trade or Carbon Tax Better for Business? " by Luk N. Van Wassenhove and David F. Drake, in INSEAD Knowledge (journal article, 2016).

"The Effect of Target Difficulty on Target Completion: The Case of Reducing Carbon Emissions " by Ioannis Ioannou, Shelley Xin Li, and George Serafeim, in Accounting Review (journal article, 2016).

"Carbon Footprints: Methods and Calculations" by Michael Toffel and Stephanie van Sice (teaching case, 2011; revised 2013).

"Carbon Credits" by Forest Reinhardt, Jost Hamschmidt, and Mikell Hyman (background note, 2012).

"The Political Economy of Carbon Trading" by Forest Reinhardt, J. Gunnar Trumbull, Mikell Hyman, Patia McGrath, and Nazli Zeynep Uludere (teaching case, 2010; revised 2011).

"The Carbon Market" by Andre Perold, Forest Reinhardt, and Mikell Hyman (background note, 2008; revised 2009).

"South Pole Carbon Asset Management-Going for Gold?" by Forest Reinhardt, Jost Hamschmidt, and Mikell Hyman (teaching case, 2008; revised 2009).

"International Carbon Finance and EcoSecurities" by Andre Perold, Forest Reinhardt, and Mikell Hyman (teaching case, June, 2008; revised October, 2008).


"Greening Walmart: Progress and Controversy" by Rebecca Henderson and James Weber (teaching case, 2016).

"The Climate Needs Aggressive CEO Leadership" by Auden Schendler and Michael Toffel (article, 2014).

"Greening Is Not Enough: 4 Steps to Corporate Leadership on Climate Change" by Auden Schendler and Michael Toffel (blog, 2013; reprinted 2013).

"UBS and Climate Change--Warming Up to Global Action?" by Felix Oberholzer-Gee, Forest Reinhardt, and Elizabeth Raabe (teaching case, February, 2007; revised, March, 2007).


"Climate Change in 2017: Implications for Business" by Rebecca Henderson, Sophus Reinert, Polina Dekhtyar, and Amram Migdal (background note, October 2016).

"Climate Change: An Unfolding Story" by Joseph Lassiter, Sid Misra, and Stephanie Puzio (background note, January, 2015; revised August, 2015).

"A Business Manager's Approach to Climate Change" by Forest Reinhardt and Kimberly O'Neill Packard (book chapter, 2001).

"What Every Executive Needs to Know about Global Warming" by Kiimberly O'Neill Packard and Forest Reinhardt (article, 2000).

Strategy and Execution

"Technology Choice and Capacity Portfolios under Emissions Regulation" by David Drake, Paul R. Kleindorfer, and Luk N. Van Wassenhove in Production and Operations Management (journal article, 2016).

"How Warm Days Increase Belief in Global Warming" by Lisa Zaval, Elizabeth Keenan, Eric Johnson, and Elke Weber (article, 2014).

"Aspen Skiing Company (A)" by Michael Toffel and Stephanie van Sice (teaching case, 2010; revised 2013).

"Engaging Supply Chains in Climate Change (pdf)" by Chonnikarn Fern Jira and Michael Toffel (article, 2013).

"Corporate Sustainability Is Not Sustainable" by Auden Schendler and Michael Toffel (article, 2013).

"Responding to Public and Private Politics: Corporate Disclosure of Climate Change Strategies (pdf)" by Erin Reid and Michael Toffel (article, 2009).

"Grist: A Strategic Approach to Climate" by Michael Porter and Forest Reinhardt (article, 2007).

"Opinion: Place Your Bets on the Future You Want" by Forest Reinhardt (article, 2007).


"Water Shortage and Property Investing in Mexico City" by John Macomber, Regina Garcia-Cuellar, and Griffin James (teaching case, 2010; revised 2014).

"FIJI Water: Carbon Negative?" by Francesca Gino, Michael Toffel, and Stephanie van Sice (teaching case, 2011; revised 2013).

"Mexico City Water Shortage" by John Macomber, Regina Garcia-Cuellar, Griffin James, and Frederik Nellemann (teaching case, 2012).