Spoke to a securities attorney who pursuaded me that the Paris Accord is having an effect on corporate policies even without the US because it sets standards that companies are saying they will follow and it will lead to more shareholder lawsuits to impose such policies (even where directors are resisting it). For example, Canadian carbon compliance costs are a big reason why big oil companies have devalued tar sands reserves in Canada and sold back reserves that were going to be sent through the Keystone XL pipeline. Tillerson's old company, Exxon Mobile was one such company (it is also being sued for misrepresenting environmental risks by NY State AG). Sales of commercial real estate, appraisals and sales of ocean front land need to consider climate change and sea level changes. US and overseas carbon policies will need to be disclosed and considered in investment even more than they are today.