Can Business Alliances Move the Needle on Climate Change?

February 6, 2026. Opinion: "Who will champion environmental, social, and governance issues at a time when such causes are under fire? Peter Tufano says that business alliances could play an important role. Even as major players retreat from climate change efforts and the US government weakens environmental rules, two factors can possibly help businesses stay focused and committed: alliances and owner-stewards. Financial services firms that joined business alliances adopted 50% more environmental policies, without any evidence of antitrust, says a May working paper by Harvard Business School’s Peter Tufano. A separate study published in April showed how family-owned public companies embrace far fewer environmental, social, and governance (ESG) efforts than other firms, but those with next-generation family leadership don’t underperform along this dimension."