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In the latest episode of BMBW, Daniel speaks with Martin Hahn, CEO of Capital Dynamics, and Verena Rossolatos, Chair of the Responsible Investment Committee at Capital Dynamics.Capital Dynamics is a leader in clean energy and the lower middle market investing. Capital Dynamics manages over $14 billion by targeting strong returns while leading on impact – including becoming one of the first signatories of the UN Principles for Responsible Investing in 2008 and their Clean Energy and Infrastructure Fund earning a 5-Start rating from GRESB.Verena and Martin discuss how Capital Dynamics developed its responsible investing strategy, highlighting key milestones like launching its clean energy business line, creating the R-Eye rating system ( Capital Dynamics' proprietary ESG scoring system) and dedicating themselves to transparency and engagement in the ESG realm. They explore how to align with evolving European and American perceptions of impact and ESG with a focus on the significance of financial materiality and ethical business practices.Tune in to discover how Capital Dynamics is investing not only for solid returns but also to ensure a sustainable future. These expert insights provide valuable lessons for both seasoned investors and industry newcomers.If you enjoy this conversation and want to learn more about how investing for impact drives returns, visit us at www.impactcapitalmanagers.com.
After 20 years of progress, we are now seeing rising inequality and poverty reaching levels not seen in a century, according to the United Nations Development Programme (UNDP).In response, there's been an uptick in demand for companies to report on social impact through the UN Principles for Responsible Investment (UN PRI) – and along with it, an increase in misleading marketing through ‘social-washing'.Of course, poverty is not the only critical UN sustainable development goal – there are actually 17 of them, of which many are interconnected.To discuss, Read Taylor Price is the founder of Investors for Impact and director and managing partner at Alpencrest Capital.Do investors play a role in driving meaningful change towards achievement of the UN SDGs, especially in an era of ‘socialwashing'?Join host Rose Mary Petrass, senior journalist at FS Sustainability to find out more.This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy
Post-COP28, what continue to be key features and challenges of regional Islamic asset management, and how are crucial ESG considerations being incorporated? How are investors continuing to encourage portfolio companies to manage long-term climate-related risk and social impact? How is Islamic sustainable investment being supported by innovative activities such as carbon trading, and what opportunities are presented by the carbon markets? What is a realistic assessment of regional ESG guidelines and global taxonomies and their influence on Islamic investors? We seek the views of an influential panel.Moderator:Aruna Narayanan, Founder and Chief Impact Enabler, Real Impact SolutionsPanelists:Husam Abdel Al, Senior Director, Origination and Head of Sustainable Finance, Investment Banking, MashreqLuma Saqqaf, Director – Middle East, Africa, India, UN Principles for Responsible InvestmentPrasad Dhake, Manager, Markets, Strategy and Risk, Dubai Financial Services AuthorityRazvan Dumitrescu, Sustainable Finance Director, Emirates NBD CapitalSharifatul Hanizah Said Ali, Executive Director, Islamic Capital Market Development, Securities Commission Malaysia
Dive into the heart of finance with David Pitt-Watson, a pioneering figure in responsible investment and a passionate advocate for the finance sector's societal role. As a co-founder of Hermes Focus Funds, David brings a wealth of experience and insight into how finance can serve a greater good. David is also a Visiting Fellow at CJBS and teaches the award-winning course Purpose of Finance. **Why Should You Tune In?** **Experience and Expertise**: Gain insights from David's extensive career, including his leadership in creating the UN Principles for Responsible Investment and his advocacy for finance as a force for positive societal impact. **Unlock the True Potential of Finance**: Explore David's vision for a finance industry that fulfills its true purpose, supporting sustainable development and contributing to a better world. **Challenges and Opportunities**: Learn from David's unique perspective on the current state of the finance sector, its impact, and the transformative path forward.
I've had the privilege to work with both of today's podcast guests as leaders of their company, the first to launch a Responsible Investment fund and still a leader in the field. Calvert Research and Management is part of Morgan Stanley Investment Management today and traces its roots to Calvert Investments, which was founded in 1976. The SFP is privileged to welcome Emily Chew and Anthony Eames to this episode and we're going back in time to begin today's conversation. Responsible Investing was first given official status as an industry concept by the UN Principles for Responsible Investment in 2006, however, Calvert's history in the field stretches back many years before that.
This is the second podcast in a three-part series on ESG. In this episode we are joined by the Head of Marine Claims here at Alandia, Johan Henriksson, who paints a picture of how the hull and machinery claims team works with ESG in their daily processes. Having explored Alandia's integration of the UN Principles for Sustainable Insurance in the previous episode, we now dig a little deeper into what that looks like in daily work routines. Claims handling is a core function that must be consistent in reaching high standards, but how does ESG affect the process? Does it change the way we work with our customers and yards/service providers?Listen in to hear the answers to these questions and more! *Note: Although Alandia also offers fixed P&I insurance, due to time constraints this podcast takes a focused approach in concentrating mainly on H&M as the spearhead of the business. We intend to release P&I related materials soon to address this important and complex area of our work!
This is the first podcast in a three-part mini-series on ESG. In this episode we are joined by Alandia's Communications Director, Marina Stenfors, who gives us an overview of how Alandia as an insurance company commits to ESG goals. In the Spring of 2021 Alandia joined the UN Principles for Sustainable Insurance (as the second Finnish insurance company to do so), and we ask Marina to explain how ESG is rooted at the core of the business and how it is being integrated throughout the company. Listen in to gain some insight on ESG in marine insurance, and don't forget to come back for the next episode in this three-part series where we will look at ESG from a claim's perspective!
Interest in sustainable investing has significantly increased in the past decade. Morningstar estimates the number of sustainable open-ended mutual funds and exchange-traded funds nearly tripled between 2014 and 2019. However, the consideration of financially material sustainability factors is not a new phenomenon – it draws on a long history of socially responsible investing, from the faith-based investors who supported divesting from South African companies during the apartheid era in the 1980s to the large asset owners who founded the UN Principles for Responsible Investing in 2006. How can investors apply this approach in today's landscape? What should a due diligence process look like? Are there benefits to an active and engaged approach? On this episode of Disruptive Forces, host Anu Rajakumar is joined by Daniel Hanson, Senior Portfolio Manager for our Sustainable Equity Team, to discuss his approach to long-term sustainable investing. This communication is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. This communication is not directed at any investor or category of investors and should not be regarded as investment advice or a suggestion to engage in or refrain from any investment-related course of action. Investment decisions should be made based on an investor's individual objectives and circumstances and in consultation with his or her advisors. All information is current as of the date of this material and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Neuberger Berman products and services may not be available in all jurisdictions or to all client types. This material is not intended as a formal research report and should not be relied upon as a basis for making an investment decision. The firm, its employees and advisory accounts may hold positions of any companies discussed. This material may include estimates, outlooks, projections and other “forward-looking statements.” Due to a variety of factors, actual events or market behavior may differ significantly from any views expressed. Investing entails risks, including possible loss of principal. Indexes are unmanaged and are not available for direct investment. Past performance is no guarantee of future results. This material is being issued on a limited basis through various global subsidiaries and affiliates of Neuberger Berman Group LLC. Please visit www.nb.com/disclosure-global-communications for the specific entities and jurisdictional limitations and restrictions. The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC. © 2023 Neuberger Berman Group LLC. All rights reserved.
0:00 -- Intro.2:12 -- Start of interview.3:00 -- Stephen's "origin story". His start with IRRC in Washington, DC (1988). His focus on international corporate governance.7:01 -- The anti-Apartheid divestment campaign in South Africa. "Most people don't quite realize that in the U.S. the real corporate governance movement -what we might call today the ESG movement- stems from the campaign for anti-Apartheid sanctions and divestment." (early 1970s).10:27 -- On the historical background of investor advocacy, and his book on Isaac Le Maire "the first short seller and shareholder activist." The conflict with the Dutch East India Company (VOC) in the early 1600s (the first joint-stock company in the world).15:19 -- On the evolution of U.S. corporate governance and the rise of institutional investors since the late 1980s (particularly the big four: BlackRock, Vanguard, State Street and Fidelity). "[F]or most of the time (from late '80s to about 7 years ago), corporate governance has been more or less an exercise in throat clearing, a box-checking exercise, a compliance/legal matter that had to be done because of the DOL Avon Letter in 1988 [pointing out that proxy voting, like buy/hold/sell decisions, is a fiduciary act, and must be for “the exclusive benefit of plan participants."] "There was a lot of corporate governance talk, but it was at the margins."19:27 -- What changed in large asset managers to go from "passive investors" to more active with investment stewardship. Some factors (in the last decade): 1) Influence from Europe, where they insisted that these large funds sign up for commitments such as the UN Principles for Responsible Investment, and "to demonstrate bona fides when it comes to ESG factors," 2) Many of their institutional clients were becoming more aware of the importance of ESG factors; 3) Biggest factor: rising class of millennial investors, who have a different set of expectations on their financial agents.25:54 -- On the new policies such as from BlackRock and Vanguard to pass-through voting power to beneficial owners. 28:50 -- "One of the most exciting development in the capital markets is that in the last few decades we made a lot of progress on 1) management accountability to boards; 2) boards better equipped to oversee management; and 3) boards responsiveness to institutional investors. But the last piece of the puzzle is the accountability of institutional investors to the real sources of capital (beneficial owners) - the governance of institutional investors or stewardship governance." [see article Agency Costs of Agency Capitalism, by Gilson and Gordon (2013)] Citizen investors initiatives (to give them a voice), for example Tumelo (in the UK) or Say Technologies in the US (purchased by Robinhood).32:30 -- On proxy advisors and the Best Practices Principles for Shareholder Voting Research and its Oversight Committee (where he was the founding Chairman until 2022). This is an example of "monitored self-regulation." Konstantinos Sergakis is now the Chair.38:34 -- On the practice of dual-class share structures (supermajority voting structures). "A perennial issue in corporate governance." The case of Elsevier and Robert Maxwell. 42:25 -- On "corporate governance with Chinese characteristics."44:37 -- Challenges and opportunities of corporate governance in regions such as the Middle East and Africa (where he has been active). "There has been progress at a pace that in my wildest dreams I would have not anticipated." The sovereign wealth funds are the next stage of progress, where they will go from passive to more active. Examples of stewardship from Malaysia, Singapore, Norway and South Africa.50:25 - The books that have greatly influenced his life: The Battle for the Soul of Capitalism, by John Bogle (2005) (and others by John Bogle)Presidential Power and the Modern Presidents, by Richard Neustadt (1991)The Torah.51:44 - His mentors, and what he learned from them. Paul Leventhal (Nuclear Control Institute)Richard Schneller (former Senate Majority Leader Connecticut State Senate)Ira Millstein, (partner Weil Gotshal)Jonathan Charkham (formerly with the Bank of England)53:17 - Quotes he thinks of often or live his life by. From his high school teacher "Never trust the magic of the printed word.”53:50 - An unusual habit or an absurd thing that he loves: olive picking.54:28 - The living person he most admires: his wife.Stephen Davis is a senior fellow at the Harvard Law School Programs on Corporate Governance and Institutional Investors__ You can follow Stephen on social media at:Twitter: @StephenM_DavisLinkedIn: https://www.linkedin.com/in/stephen-davis-6282424/__ You can follow Evan on social media at:Twitter: @evanepsteinLinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/__Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License
Die Themen im heutigen Versicherungsfunk Update sind: Deutsche Sparer verloren 2022 rund 205 Milliarden Euro Kaum Sparzinsen und eine durchschnittlich hohe Inflationsrate von 7,9 Prozent bescherten deutschen Sparern im Jahr 2022 einen Kaufkraftverlust von ca. 205,5 Milliarden Euro. Zu diesem Ergebnis kommen aktuell die Experten des Finanzportals Tagesgeldvergleich.net. Die Berechnung basiert auf den jüngsten Daten der Europäischen Zentralbank (EZB) und eigenen Prognosen. Generali-Industrieversicherer bekommt neuen CEO Die Generali Global Corporate & Commercial (GC&C) gibt die Ernennung von Christian Kanu zum neuen CEO mit Wirkung zum 30. Januar 2023 bekannt. Der Ingenieur löst damit Manlio Lostuzzi ab, der den Posten bis Ende Januar 2023 interimsmäßig inne hat. Debeka will alle Kernprozesse zusammenführen Der Versicherer Debeka hat einen Vertrag über die Implementierung des Keylane-Policen- und Schadenverwaltungssystems Axon bei der Debeka Allgemeinen Versicherung AG, dem Schaden- und Unfallversicherer der Debeka-Versicherungsgruppe, unterzeichnet. Dadurch sollen alle Kernprozesse vom Verkauf, Vertrieb und der Verwaltung von Policen bis hin zur Bearbeitung von Schadensfällen auf einer vollständig agilen Plattform vereint werden. Kfz-Unfall: die 3 häufigsten Ursachen Jeder vierte Autofahrer in Deutschland hat in den vergangenen drei Jahren einen Unfall oder eine gefährliche Situation im Straßenverkehr erlebt. Die drei häufigsten Ursachen dafür waren schlechtes Wetter (29%), zu schnelles Fahren (22%) und Ablenkung (22%). Zu diesen Ergebnissen kommt die bundesweite, repräsentative Studie von infas quo im Auftrag des Direktversicherers DA Direkt zum Thema Ablenkung im Straßenverkehr. Stuttgarter tritt Investoreninitiative bei Die Stuttgarter ist seit Jahresbeginn offizielles Mitglied der UN Principles for Responsible Investment (UN PRI). Dabei handelt es sich um eine unabhängige, globale Investoreninitiative der Vereinten Nationen. Ihr Ziel ist, Grundsätze für verantwortungsbewusstes Kapitalanlagemanagement zu implementieren und weiterzuentwickeln. Der Versicherer setzt damit die Nachhaltigkeitsausrichtung konsequent weiter fort. Dazu gehört auch, den eigenen Betrieb bis spätestens 2029 klimaneutral aufzustellen. Firmen sind Beschäftigte wichtiger als Management Wenn sich Firmen unabhängige Finanzberater ins Haus holen, dann geht es vor allem um zwei Themen: die betriebliche Altersversorgung und die Absicherung von Betriebsrisiken. Bei vielen Beratungsgesprächen steht die finanzielle Absicherung der Belegschaft (71 Prozent) vor der Versorgung der Führungskräfte (57 Prozent). Noch wichtiger ist den Unternehmen bei den Gesprächen indes die Absicherung betrieblicher Risiken (79 Prozent). In mehr als der Hälfte aller Fälle (52 Prozent) steht der Schutz vor besonders gravierenden Einschnitten wie Betriebsunterbrechungen im Fokus. Das geht aus dem „Plansecur-Report: Finanzbranche 2022/23“ hervor.
Join host Christopher Schoenwald of the Podcast, “LIFE AS A..” as he chats with Marc Sheard an equity portfolio manager of Vancity Investment Management the first Canadian asset manager to sign on to the UN Principles for Responsible Investing and known for its focus on socially responsible investing. Reasons to Listen: The conversation is filled with insight from start to finish. Further, it has that rare quality of being able to satisfy both those with interest in finance and those who are still developing their own awareness and knowledge in this field. Listeners can expect to hear insights on the following: A deconstruction of industry stereotypes such as the "lone wolf investor" The value of strong analyst teams at a firm What an "ego coach" is and why some equity portfolio managers utilize such services The danger of commitment bias in investing and how to combat it How Marc's early life experiences travelling the world helped shape his current worldview and in effect better prepare him for a career in finance How and why those with interests or educational backgrounds in social sciences can become some of the very best investors A quick explainer on the UN Principles for Responsible Investing and why they matter What socially responsible investing is and how Marc and his firm operate with such values interwoven into the fabric of their organization How the finance industry is wonderfully rich with opportunity for those with a deep sense of curiosity and appreciation for learning How an equity portfolio manager often manages their own emotional investments in the work they do Learn about the cardinal sin of investing The future of the industry from the viewpoint of tech and AI integrating itself into the financial ecosystem + Much more! This talk does not lack for insight nor actionable tips for those inside or outside the world of finance. To learn more about Marc and his work, you can check him out here: LinkedIn Website FACT CHECK: **In the episode it is noted that Vancity Investment Management (VCIM) is one of the largest credit unions on the West Coast of Canada. In fact, it is the largest credit union in Canada with $33 billion plus in assets under administration. FRIENDLY REMINDERS: And hey! Why don't you subscribe on YouTube! As you'll see, our subscriber numbers are in need of a little boost! If you haven't done so already, help the program out by giving it some love. *Hit the subscribe button on YouTube PLEASE. :) I'd highly appreciate it! -Christopher *You can follow LIFE AS A.. on your favourite social platforms via these links: Youtube Instagram: Linkedin: Twitter: Facebook: To learn more about the program, visit the website www.life-as-a.com or https://linktr.ee/life_as_a_podcast
Dr Elizabeth Armstrong - Principal With more than 25 years delivering innovative, agile social impact in a range of challenging political, economic and transitional contexts, Dr Elizabeth Armstrong is a social impact and peacebuilding specialist working with companies, industry bodies, and chambers of commerce globally to help them identify and deliver genuine, strategically relevant social purpose and impact. Elizabeth holds a PhD in the role of the private sector in contributing to social outcomes and peaceful communities from the University of St Andrews in Scotland, and Masters degrees in Resource Economics and Peace and Conflict Studies. Elizabeth has earned her reputation for turning concepts into on-the-ground impacts over a range of high-level positions in the private, for-purpose and public sectors, including: as a consultant, providing strategic advice to private and public sector clients in Australia, Europe, and contested contexts in Africa and the APAC region as a strategic advisor in the Australian foreign service and on international affairs for the Australian Prime Minister's department in Asia, the Middle East, Europe and Africa establishing and leading the highly regarded multi-donor Peace Support Fund during the transitional and post-coup periods in Myanmar as the lead designer for multiple social impact strategies and programmes, including the Myanmar Women's Voice and Leadership Programme for Global Affairs Canada. She brings a dynamic understanding and tested experience helping businesses manage the increasing risks posed by environmental and social realities; shifting public and stakeholder expectations; and, emerging human rights standards and international best practice approaches in fragile or emerging environments. She is an expert advocate for how businesses can pragmatically and profitably contribute to achieving the SDGs, and a member of the UN Principles for Responsible Management Education's Working Group on Business for Peace. Connect with Elizabeth via website - https://www.ithacaimpact.com/ LinkedIn - https://www.linkedin.com/in/elizabethjarmstrong/
Thermal coal, blast furnace-basic oxygen furnace (BF-BOF) steelmaking and its raw materials are the segments of the metals and mining sector that are most vulnerable to long-term climate risks owing to their large direct emissions, credit ratings agency Fitch Ratings says. Demand for many nonferrous metals will remain high in the long term owing to their role in the low-carbon transition, even though producers will need to decarbonise their mining and processing, the agency adds. It notes that the vulnerability of gold to climate risk will remain unchanged owing to its limited industrial use and expected reductions in production-related emissions. Fitch warns that thermal coal mining faces a long-term existential threat as coal-fired energy generation is the single largest source of greenhouse-gas (GHG) emissions and cleaner sources of energy are already available. Fitch explains that steelmaking is highly carbon-intensive, particularly if using the BF-BOF route, which relies on metallurgical coal for iron-ore reduction, Fitch points out. Electric arc furnaces (EAFs) are easier to decarbonise as their emissions are much lower and largely depend on power supply, the agency outlines. Fitch notes that steel demand will grow in the long term, but that major changes in technology will be required to achieve carbon-neutral primary steelmaking. EAFs that are based on direct-reduced iron (DRI) and powered by renewables or, when feasible, green hydrogen, are currently viewed as the key way to achieve carbon-neutrality, the company points out. It says carbon capture and storage (CCS) is another option; however, the UN Principles for Responsible Investment expects this technology to be used less often. Fitch says BF-BOF steelmaking faces greater long-term climate risks than EAF steelmaking, as it will become less competitive owing to the growing pressure of carbon costs and significant capital expenditure needs. It notes that metallurgical coal faces similar climate vulnerability because demand will decline as less steel is made using the BF-BOF route, of which it is an input. Fitch explains that iron-ore is required in all steelmaking processes except for EAF facilities that only use scrap. This, it says, reduces its long-term climate risks compared with metallurgical coal. Fitch indicates that mining of non-ferrous metals is responsible for just under 1% of global GHG emissions. The use of such metals in the energy transition supports long-term demand, leading to significantly lower climate vulnerability compared to steelmaking and its inputs, the company outlines. In terms of copper, Fitch notes that this is used in a broad range of electronic and industrial applications, including electricity networks, charging infrastructure, solar and wind power, and electric vehicles, therefore, demand for it should more than double by 2050. This, the company says, leads to lower climate risk vulnerability, although it can be replaced with aluminium in some applications. Fitch expects nickel to be the least vulnerable nonferrous metal. It adds that nickel has been predominantly used in stainless steel production and other corrosion-resistant alloys, but it expects demand to surge fivefold in the next 30 years owing to its application in rechargeable batteries and electricity storage. Moreover, Fitch says nickel mining and refining emits a high level of GHGs, but that the carbon costs of nickel are a fraction of its price. However, rising nickel prices that can lead to the metal's substitution and the need to develop low-carbon production processes increase its long-term vulnerability, the company warns. Fitch mentions aluminium as another critical mineral for the energy transition. However, it cautions that its production is energy-intensive, with almost 60% currently powered by thermal coal, leading to a large carbon footprint. Aluminium demand fundamentals are weaker than those of copper and nickel, but comparable to that of steel. Electricit...
The adoption of Environment, Sustainability and Governance or ESG Investing in Malaysia took a significant turn in 2018 when EPF, KWAP and Khazanah became signatories of the UN Principles for Responsible Investment. Since then, ESG investing has grown significantly globally but are we still seeing a similar trend in Malaysia? Dr Lim Kim Hwa, Founder and CEO of Crea8 Capital tells us more. Image credit: Shutterstock.com
Putin's launch of an invasion of Ukraine came just as the United Nations Security Council was meeting to find a last-minute plan for peace. We discuss the implications of those actions with Bob Rae, Canada's ambassador to the United Nations; and Roland Paris, a professor of international affairs at the University of Ottawa and a former senior advisor on foreign policy to the prime minister of Canada.
Cary Krosinsky (LinkedIn | Website) is the Co-Founder of the Sustainable Finance Institute and the Carbon Tracker Initiative. He has co-published seven books on sustainable finance and investing. Cary has undertaken teaching and research roles at several universities including Columbia University, Brown University, Yale University, Concordia University, New York University, and University of Maryland. He has consulted the likes of the UN Principles of Responsible Investing, KPMG, Robeco, and UN Environment Programme. Cary was recently a Sustainability Advisor for the SPAC transaction of The Metals Company and a member of the New York State Common Retirement Fund Decarbonization Advisory Panel. He previously studied Computer Science at Hofstra University and was a Senior Vice President at S&P Global TruCost. Check out the Climate Finance Podcast website for more information. Topics discussed: Cary's journey from working with big data for major institutional investors to researching and teaching Sustainable Finance. Early days of Sustainable Finance research (2007-08). Experience with co-Founding Carbon Tracker Initiative and publishing 1st book. The Long and Necessary Death of Socially Responsible Investing. Divestment versus Engagement. Evolutions in Sustainable Investing: Strategies, Funds, and Thought Leadership (2011). Examples of Prominent ETFs and Mutual Funds. Climate Tech VC Newsletter and SPACs. How Private Equity and Hedge Funds can delve into Sustainable Finance. Sustainable Real Estate: Multiple Approaches to an Evolving System (2019). The State of Sustainable Finance in the United States (2016). Overview of the Sustainable Finance Institute. Certified Sustainable Finance Analyst (CSFA) Program. Importance of Asia in the future of Sustainable Finance. Modern China: Financial Cooperation for Solving Sustainability Challenges (2020). U.S. - China Climate Finance Relations. Thoughts about COP26: Success or Failure? The COP process in broken - How can we fix it? Closing question: Advice to Academics and Youth interested in Sustainable Finance. Note: This podcast is for informational purposes only and should not be considered as investment advice. The interview took place on 1st December 2021.
What does the world of insurance have to do with forced labour, human trafficking and slavery? On this episode of FAST the Podcast, we start off by putting that question in historical context, speaking to Professor Robin Pearson of the University of Hull about the case of the Zong, an infamous episode of insurance litigation following a massacre of African slaves off Jamaica in 1781. We hear from Charles Mathias, Chief Risk Officer at Fidelis Insurance, and Jasmine O'Connor, Chief Executive at Anti-Slavery International, who have been collaborating on a new approach to tackling modern slavery risks through insurance. We also speak to Butch Bacani, Programme Leader at UN Principles for Sustainable Insurance, about where modern slavery risks fit in the larger effort by the industry to grapple with questions of sustainability.
In this episode of Business of Weather, we speak to the Jan Erik Saugestad, the CEO of Storebrand Asset Management, about how climate change is shaping the company's investment strategy. Storebrand is a leading player in the Nordic market, managing USD91 biilion on behalf of investors ranging from pensions funds to individuals. It is one of the founding signatories of the UN Principles of Responsible Investment, a founding member of the UN-convened Net-Zero Asset Owner Alliance, and has pledged all of its investment portfolios will be net-zero by 2050.Mr. Saugestad has broad and deep asset management experience and knowledge gained over years of holding high profile positions within the industry. Prior to taking on the position as CEO of Storebrand Asset Management, he held several posts within the group such as Chief Investment Officer and Head of Asset allocation.Before joining the Storebrand Group in late 90s, Mr. Saugestad worked in the industry representing companies such as Nordea, Handelsbanken and McKinsey. He holds a degree in Master of Science at NTNU in Norway and an MBA from INSEAD in France. See acast.com/privacy for privacy and opt-out information.
Covid-19 has highlighted the need for businesses and investors to develop a robust approach to ESG and corporate purpose. In this episode, Rebecca Perlman, Herbert Smith Freehills is joined by Philip Collins, Columnist at The Times and former chief speech writer to Tony Blair; and Will Martindale, Director of Policy & Research at the UN Principles for Responsible Investment. Our speakers draw upon their wide-ranging experiences to discuss the short-term ESG risks and opportunities and how to prepare for the months ahead as we move into the recovery phase.
Michael Torrance is joined by Eric Usher, who heads of the UN Environment Programme Finance Initiative (UNEP FI) to discuss the Principles for Responsible Banking, the impacts of climate change and the transition to a lower-carbon economy. For a transcript of this episode please visit bmo.com/sustainabilityleaders
Show Notes This weeks show covers ESG Investing and how I believe it is going to impact the real estate sector in general. Nowadays I am hearing more and more about ESG but it has been around for 16 years following a UN initiative launched by the former UN Secretary General Kofi Annan - for more details on the UN Principles of Responsible Investment be found at https://www.unpri.org/ and read more on ESG from the Harvard Business Review at https://hbr.org/2021/03/an-esg-reckoning-is-coming - I hope you enjoy! *** My Book 'Your Best Life' - https://amzn.to/38WPmVf My Book 'Work Life Blend' - https://clionas.ie/product/work-life-blend/ Follow Gavin on Clubhouse - https://joinclubhouse.com/@gavinjgallagher Meetup Group - https://www.meetup.com/behind-the-facade-community/ Facebook page - https://www.facebook.com/BehindTheFacadePodcast LinkedIn page - https://www.linkedin.com/company/behind-the-facade-podcast If you would like to join the Facebook Group where Gavin posts live videos and responds to question, its called Behind The Facade Community and you can find it here - https://www.facebook.com/groups/1143988072600584 If you are interested in joining a future Behind The Facade Mastermind group for coaching, a WhatsApp group and a weekly Zoom call where you can ask specific questions and get direct advice and feedback then please sign up to the email list via the website www.gavinjgallagher.com/go If you have any questions you'd like answered on the show please make a voice recording and send it to podcast@behindthefacade.fm Subscribe so you don't miss an episode and connect with Gavin on social media (FB Page, LinkedIn, Twitter, Instagram) --- Send in a voice message: https://anchor.fm/gavinjgallagher/message
Show Notes This weeks show covers ESG Investing and how I believe it is going to impact the real estate sector in general. Nowadays I am hearing more and more about ESG but it has been around for 16 years following a UN initiative launched by the former UN Secretary General Kofi Annan - for more details on the UN Principles of Responsible Investment be found at https://www.unpri.org/ and read more on ESG from the Harvard Business Review at https://hbr.org/2021/03/an-esg-reckoning-is-coming - I hope you enjoy! *** My Book 'Your Best Life' - https://amzn.to/38WPmVf My Book 'Work Life Blend' - https://clionas.ie/product/work-life-blend/ Follow Gavin on Clubhouse - https://joinclubhouse.com/@gavinjgallagher Meetup Group - https://www.meetup.com/behind-the-facade-community/ Facebook page - https://www.facebook.com/BehindTheFacadePodcast LinkedIn page - https://www.linkedin.com/company/behind-the-facade-podcast If you would like to join the Facebook Group where Gavin posts live videos and responds to question, its called Behind The Facade Community and you can find it here - https://www.facebook.com/groups/1143988072600584 If you are interested in joining a future Behind The Facade Mastermind group for coaching, a WhatsApp group and a weekly Zoom call where you can ask specific questions and get direct advice and feedback then please sign up to the email list via the website www.gavinjgallagher.com/go If you have any questions you'd like answered on the show please make a voice recording and send it to podcast@behindthefacade.fm Subscribe so you don't miss an episode and connect with Gavin on social media (FB Page, LinkedIn, Twitter, Instagram) --- Send in a voice message: https://anchor.fm/gavinjgallagher/message
¡Revive el momento!Con motivo del segundo aniversario de la Bolsa Institucional de Valores (BIVA), fuimos anfitriones del BIVA Forum: “Repensando la Bolsa de Valores en el Siglo XXI”; que se realizó del 19 al 22 de octubre.Panel 20.10: ESG trends in Capital Markets. Elena Philipova, Global Director ESG, Refinitiv. Samatha Ricciardi, CEO, Blackrock Mexico. Jaakko Kooroshy, Head of Sustainable Investment Data & Methodologies, FTSE Russell. Justine Leigh-Bell, Deputy CEO Climate Bonds Initiative. Karina Ramírez Arras, Jefa de la Unidad de Ingresos no Tributarios. Moderador: Eduardo Atehortua, UN Principles for Responsible Investment. See acast.com/privacy for privacy and opt-out information.
Mark Campanale (MC): COVID changed a lot. What it's done is forced a huge contraction in the global economy. And that contraction has worked its way into energy demand. If we think of climate change as perhaps the big existential problem of our age, and certainly for the coming century, [Covid has] meant that people are looking at where energy is generated and the burning of fossil fuels which contribute to climate change. People have realized we can switch to clean energy: it's cheaper, it's more efficient, it's cleaner. All those fossil fuel companies that used to dominate the S&P 500 like Exxon, their valuation has collapsed. Investors are fleeing the sector. And of course, the darling of the past year has been Tesla, the miracle of new technology. People are thinking: Well, actually, this changes everything; how we communicate, how we transport, what energy we generate, how offices function, etc. [The pandemic] has brought forward the peak in demand for fossil fuels. It has really tipped us over into the end days of the fossil fuel economy, giving us the freedom and hope to deal with climate change. Driving Change (DC): That's a big claim. You really feel this is an inflection point. Would you say it's brought forward the peak for energy demand? MC: I think energy demand is growing, particularly in the developing world. That will remain the case. But in the developed world, I think demand, particularly for fossil fuels, has peaked. The internal combustion engine car has almost certainly peaked. It looks like demand for oil has peaked. Demand for coal, globally, has almost certainly peaked, particularly in the western economies. DC: What about these reports that coal plants have been reopening, and new ones built in places like China? MC: Yeah, that's true. But you need to look at their efficiency and how much of the time they spend on stream. A lot of these new coal fired power stations are only operating at 30-40% capacity. Part of the demise story is that they're not achieving the revenues that a lot of the modelers forecast they would. Even in China, you've got dispatchable power from renewables getting onto the grid before fossil fuels. In many parts of the world, what counts is who's getting onto the grid first, and renewables are getting on first. Some economists ask me: “Well, Mark, we've seen this before, we've seen something similar in 2008, when the economy contracted after the financial crisis only for energy demand, particularly fossil energy demand, to bounce back. So what's different today? It's very simple. What's different is, renewables are cheaper. It's cheaper across most parts of the world, if not all of the world, to generate power from wind, solar and battery storage compared to new build coal or new build gas. But soon, it is going to be cheaper to build new renewables than to continue to operate old coal plants. That switch I think will be the death knell for the traditional energy system.Soon, it is going to be cheaper to build new renewables than to continue to operate old coal plants. That switch I think will be the death knell for the traditional energy system.DC: So you really see this as an inflection point? MC: Demand for energy will grow back, particularly in the developing economies, but that demand is not going to be met from fossil fuels, it is going to be met with renewables. We've got far more renewable energy capacity being built today than traditional fossil fuels. The very simple reason for that is that the cost of production for renewables has dropped below that of fossil fuels. It's a technology switch. Across the world, it's cheaper to build wind and solar plus battery storage than it is to build new coal-fired power, and typically, often new gas power as well. And even in economies like China's, when it comes to dispatchable power, renewable energy is getting onto the grid first. Renewable suppliers increasingly have first right to get their power onto the grid, ahead of fossil fuels. That's making traditional fossil fuel capacity expensive to build, expensive to run. It's just accelerating the demise of the old technologies. DC: You mentioned policymaking. Are you seeing in some of these stimulus packages that this time around policymakers are leaning towards the new technologies over the old technologies? Or is there still a default mentality of pouring money into whatever creates jobs and keeps the economy growing? MC: Good question. I'm going to give you an answer that's broken into two halves, a good and a bad. The good news is there are many green stimulus packages, including at the European Union level. The French and the Germans have been driving it. Even the UK, which is preparing to Brexit, has a Green stimulus. If you look at the Biden election program, it does include a Green stimulus, and envisages a Green recovery. There are simply more jobs to be created in retrofitting clean energy and energy conservation than there are from fossil fuels. The bad news is in the purchase agreements used by central banks to stimulate the economy. They've been buying fossil fuel company bonds and high carbon company bonds at the same rate, or faster, than Green energy bonds. That throws a whole lot of cheap capital to fossil fuel incumbents. What that has done, including in the UK and the US, is turn the stimulus into a bailout of an industry that was teetering on the edge. I'm disappointed by central bankers, who had a lot of choices. They should have known better, but didn't really think it through. As a consequence, we've got businesses that were on their last legs being bailed out by the taxpayer. No thank you. DC: So as you look forward, firstly to the next year and then beyond, what are you hoping that policymakers who care about fighting climate change will do? MC: We need everything from certainty around carbon pricing to certainty around green power and power purchase agreements. One bet that I'm thinking about is slightly technical, but needs to be talked about it. At Carbon Tracker, our analysis shows there's around $30 trillion of fixed assets in the fossil fuel economy: pipelines, oil rigs, coal fired power stations, and coal mines. These are going to have to be written down, written off, aggressively depreciated over the next ten, fifteen years. Oil wells and the rest of the fossil fuel economy is going to become redundant. Currently companies are not putting aside the capital to deal with this. I want policymakers to make sure that the accounting profession actually does the write-downs, and does the stress tests. It's a bit like going into the 07-08 financial crisis with those triple A mortgage-backed securities and insisting that they are still triple A. It is the same problem with fossil fuel assets; regulators and governments need to do something about it.We also need to see more clearly the endgame for fossil fuels. The world is continuing to invest in fossil fuels when we should be winding down the industry. The International Energy Agency reckons around $1 trillion is invested in fossil fuels annually. That has to stop. To do that we need to focus not so much on energy demand reduction – turning off the lights, switching to electric cars and so on (all good, of course), but on constraining the supply of fossil fuels. That's why I and others have called for a Fossil Fuel Nonproliferation Treaty (fossilfueltreaty.org). Governments, policymakers, civil society and companies need to prevent all those projects that stand to take us above one and a half degrees [increase in average temperatures]. We're gonna have to constrain supply, we're gonna have to cancel licenses, cancel production. You may have seen the announcement from British Petroleum, one of the world's biggest fossil fuel companies, that they are going to cut production by 40%. It was the first time I'd ever heard a CEO talk about this when Bernard Looney referred to the declining carbon budget limiting how much fossil fuels we can burn. The company wrote off $17 billion of fossil fuel reserves. But it needs to be more than BP; everybody should be doing it. That's what I want to see policymakers focus on in the year ahead. DC: That is a big, big idea, the Fossil Fuel Non-proliferation Treaty. Is it something that could be announced and signed next year? Is it something that governments get? Also, is it still down to the government to lead, or can the private sector now be in the vanguard of this shift?It goes to the heart of this question: what's the point of a retirement plan if there's no planet worth retiring into?MC: The treaty idea has been driven by scientists, academics and civil society. You may ask, how good is that? Well, actually, the nuclear treaties of the 1970s were driven by civil society. NGOs and civil society were the first to go off and start counting missiles and then sat around the table and had them draw up the agreement to cut those huge missile reserves that the Americans, Chinese and Russians had. We have to do the same with fossil fuel. I do think it's possible that it can happen. I spoke to somebody in the UK Government just last week, and they said, well, look, all policy has been focused on emissions reduction from the demand-side. Nobody's thinking about supply, because the politics are really tough. But they added that this may not be such a bad thing, as there is space for fresh thinking and for governments to embrace new ideas. So I'm hopeful that this will get onto the agenda. As to private sector leadership, over the last two years individual private investors and investment institutions have mobilized regardless of government. There's Climate Action 100, a coalition of the world's largest investors, taking on the world's top 200 polluters. It has a combined $46 trillion under management. It's the biggest coalition that has ever been created of investors who are sitting down with management and challenging them to change. Now, the government didn't tell them to do that. It was driven from the bottom-up, driven by individual policyholders of pension schemes, driven by trustees, driven by fiduciaries. It goes to the heart of this question: what's the point of a retirement plan if there's no planet worth retiring into? DC: How serious is this shift? Is it largely rhetorical, or is there something fundamental going on here? After the Paris Agreement, there were lots of business leaders and investors saying, yes, we've got to do this. But they also said that we mustn't scare the fossil fuel industry, and that there needed to be a “just transition” with compensation to fossil fuel companies that lose from the shift to renewable fuels. MC: I think the level of ambition and expectation is now there. What people have told me about Paris is that in previous years of climate negotiations, you had power blocks – the business power block, lobbying, government not doing anything that's damaging for jobs. Then you had the scientists and the NGOs saying, please do something. What changed in Paris was investors turning up en masse, saying to the governments that a strong climate agreement is in the interest of investors. They were coming as a counterforce to the narrative from the business community. People often make the mistake thinking that finance and business are the same thing. In fact the business community is often in conflict with the interests of the shareholders. Investors are starting to find their voice. There have been many shareholder resolutions on climate, and investor groups that were previously slow to act, like BlackRock, are fundamentally changing. BlackRock now is in favor of a progressive climate deal. That's really the switch that we've seen. Finance saying, “Now, we're going to stand for our own position and our own status as interlocutors in the climate negotiations by setting out the kind of climate agreement we want.” Finance is now increasingly on the side of the angels. Is it going to be enough? Fast enough? Well, one of the things we've worked on at Carbon Tracker, along with the UN Principles for Responsible Investment and others, is a concept we're calling the “inevitable policy response”. People often think that governments are slow to act, and nothing is going to change. What we are saying to investors – and investors are agreeing – is that actually, there's growing evidence of climate chaos: ice caps increasingly show signs of melting, forests are burning, 100 degree temperatures in the Arctic, London is a hundred degrees for three, four days in a row – unheard of. We're saying it's inevitable that governments will act, they won't sit aside, because the public will call on them to act. We should expect governments to act and it's that inevitable policy response that companies have to fear and investors have to ask for. People are not going to sit around and do nothing. That's for certain. DC: So if policy response is inevitable, what is the policy that you would advise a policymaker to make their top priority over the next 12 months? MC: Switch the narrative from trying to constrain demand, – which I feel is a bit like boiling the ocean, telling a billion people to turn their lights off – to constraining supply. We know where the supply is coming from, who's producing the fossil fuels. We know who it is. We know which projects are going to take us to above one and a half degrees. We know who‘s developing them and who owns them. Policymakers should be focused on getting an agreement that reflects the science. A Fossil Fuel Non-proliferation Treaty is the policy I really want people to think about today.
Note: This is an audio recording of a live webinar in our Catalyst series of webinars. As markets move from response to recovery, our focus is shifting too. We understand that navigating the pace of change, and defining your new normal can be overwhelming, so we are continuing to develop insights to help you recover, rebuild and reform. To watch the webinar on demand and access the resource materials, please visit our dedicated Catalyst // Webinar Series page.The pandemic has naturally focused attention on health and safety, and human rights. In doing so, the ESG dialogue has in turn drawn "S" factors out from the shadow of the “E” and the “G”. It has also revealed the potential for business to reduce the scale of its environmental impact, and made us all more aware of the risks posed by “black swan” events and existential threats, such as climate change. In this episode, we share some perspectives on how businesses and investors can develop a robust approach to the ESG risks and opportunities presented by the pandemic in the short-term and in the months ahead, as we head into the recovery phase.The episode draws on the wide-ranging experiences of our speakers. Herbert Smith Freehills corporate lawyer, Rebecca Perlman, is joined by experts, including:Philip Collins, Columnist at The Times and former chief speech writer to Tony Blair; andWill Martindale, Director of Policy & Research at the UN Principles for Responsible Investment.In advance of the episode, we would recommend reading this piece co-authored by Mr Collins with his colleagues at The Draft. The piece suggests that three key principles will emerge from the pandemic and underpin the recovery - cleaner growth, fairer growth, and caring growth. The piece also touches on some of the ways in which businesses can approach the question of corporate purpose.
Note: This is an audio recording of a live webinar in our Catalyst series of webinars. As markets move from response to recovery, our focus is shifting too. We understand that navigating the pace of change, and defining your new normal can be overwhelming, so we are continuing to develop insights to help you recover, rebuild and reform. To watch the webinar on demand and access the resource materials, please visit our dedicated Catalyst // Webinar Series page. https://www.herbertsmithfreehills.com/latest-thinking/catalyst-webinar-series The pandemic has naturally focused attention on health and safety, and human rights. In doing so, the ESG dialogue has in turn drawn "S" factors out from the shadow of the “E” and the “G”. It has also revealed the potential for business to reduce the scale of its environmental impact, and made us all more aware of the risks posed by “black swan” events and existential threats, such as climate change. In this episode, we share some perspectives on how businesses and investors can develop a robust approach to the ESG risks and opportunities presented by the pandemic in the short-term and in the months ahead, as we head into the recovery phase. The episode draws on the wide-ranging experiences of our speakers. Herbert Smith Freehills corporate lawyer, Rebecca Perlman, is joined by experts, including: - Philip Collins, Columnist at The Times and former chief speech writer to Tony Blair; and https://www.thedraftwriters.com/ - Will Martindale, Director of Policy & Research at the UN Principles for Responsible Investment. https://www.linkedin.com/in/will-martindale-7b21a727/?originalSubdomain=uk In advance of the episode, we would recommend reading this piece https://medium.com/@thedraftwriters/what-next-1fb801b3ac46 co-authored by Mr Collins with his colleagues at The Draft https://www.thedraftwriters.com/. The piece suggests that three key principles will emerge from the pandemic and underpin the recovery - cleaner growth, fairer growth, and caring growth. The piece also touches on some of the ways in which businesses can approach the question of corporate purpose.
Yimin Wu, from the Faculty of Engineering and WIN, has an invention that pulls carbon dioxide and could be a big help in removing greenhouse gas emissions. UWaterloo will sign the UN Principles for Responsible Investment. Many events for International Education Week are coming up. And the president hosted the President's Town Hall. President’s Town Hall livestream recording: https://livestream.com/itmsstudio/events/8874097 International Education Week at Waterloo: https://uwaterloo.ca/international/events International Education Week keynote address by Alexandre Trudeau: https://www.ticketfi.com/event/3502/international-education-week-keynote-speaker-panel-discussion? Eco Summit registration: https://www.eventbrite.ca/e/eco-summit-2019-building-hope-tickets-78444085371
Welcome to our special bonfire night edition. As we’re all no doubt aware Bonfire night celebrates the triumph of brutal, state sponsored persecution in the face of a bloody failure of violent rebellion. With sparklers. What more appropriate night could there be for an episode of the Tech for God live podcast. We have a guest with us! Lauren Hogan, Volunteering Projects Officer with Turn2us, a national charity who support people facing financial struggles. You can find out more about their Connect tool at https://www.turn2us.org.uk/Connect This week’s topics: Stat of the week: '84% of traffic to Childline is accessed via a Google product, and we have no control over this. https://twitter.com/odihq/status/1190256225029632000?s=12 Campaign news of the week: The Supported Loving campaign led by My Life My Choice: https://www.theguardian.com/society/2019/oct/30/campaign-for-learning-disabled-peoples-love-lives Tech news of the week: Twitter bans political ads whilst Facebook doubles down on not even fact checking them: https://twitter.com/jack/status/1189634360472829952?s=12 https://www.politico.eu/article/twitter-dropping-all-political-ads/ Beyond the fact checking there’s more unusual activity on Facebook ads: https://www.bbc.co.uk/news/uk-50270727 https://www.theguardian.com/technology/2019/oct/31/facebook-prep-ads-instagram-political https://www.washingtonpost.com/outlook/2019/11/04/i-worked-political-ads-facebook-they-profit-by-manipulating-us/ A Rant or Nice of the week?: 130 banks sign up to UN Principles for Responsible Banking - Greenwashing or a genuine effort by banks to improve: https://www.positive.news/economics/clean-money-could-a-commitment-to-responsible-banking-make-the-banks-better/ And finally… Sifted is looking for nominations for the real "game changers" out there — from founders to developers to community builders in Europe - nominate yourself and your tech for good friends: https://sifted.eu/articles/sifted-gamechanger-callout/ ------------------ Listeners, what did you think? We’d love to hear your thoughts. Get in touch on twitter @techforgoodlive or Email at hello@techforgood.live and we’d love it if you gave us a nice iTunes review and told your mates about this podcast! Thanks to podcast.co for hosting us in a beautiful mirrored studio. Which you can’t see. But it is pretty.
In this episode of the Ethical Investment Series, Clayton talks to Marco Sepulveda - Senior Associate at Sustainalytics. Marco covers the spectrum of ethical investing and why consumer trends are leading this style of investment. Episode Resources: Sustainalytics Website: https://www.sustainalytics.com/ Marco Sepulveda Linkedin: https://www.linkedin.com/in/marcosepulveda/ Marco Sepulveda Email: marco.sepulveda@sustainalytics.com Responsible Investment Association Australasia (RIAA): https://responsibleinvestment.org/ Responsible Returns Web Tool: https://www.responsiblereturns.com.au/ Morningstar Behavioral Insights: https://www.morningstar.com/company/behavioralinsights UN Principles for Responsible Investment: https://www.unpri.org/ General Disclaimer – https://www.xyadviser.com/disclaimer/ This podcast is sponsored by Goodments. (https://goodments.com/) Established in 2017, Goodments creates sustainable investing solutions for advice professionals and retail customers. Focusing on tools that help customers engage with sustainable and responsible investing, our goal is to play a key role in redirecting capital to environmentally sustainable, socially responsible and ethical business. The Goodments Adviser portal is a Discovery, Analytics, Research and Advice support tool, designed to give Advisers the confidence to determine their customer's responsible investing needs, analyse portfolio holdings, and access institutional grade ESG research for over 7,000 global equities, ETFs and funds. New XY platform now available: App Store: http://co.xyadviser.com/xyistore Google Play: http://co.xyadviser.com/xygplay Desktop: https://www.xyadviser.com/ Get CPD points for the XY Podcast at Caddie https://thinkcaddie.com/ 20% off for XY+ members https://www.xyadviser.com/plus
The third of our series of podcasts with experts on the pensions industry, Dr. Iain Clacher is an Associate Professor in Accounting and Finance and Pro Dean International at Leeds University Business School, The University of Leeds. He is an expert on pensions and retirement saving and his work covers retirement decision making, pension fund investment, infrastructure investing, sustainable pension systems, trustee governance, and fund management costs and fees. He is also the Director of the Centre for Financial Technology and Innovation. Iain’s research and expertise has had a significant impact across a number of fields and has been used to advise a range of businesses, policy makers, and organisations including, The CERN Pension Fund, The City of London Corporation, The ONS, Aon, Zyen, The Work Foundation, and The Pensions and Lifetime Savings Association. Iain was also the expert advisor on the qualitative analysis of the Financial Conduct Authority’s Retirement Outcomes Review and a member of the Institutional Disclosure Working Group of the Financial Conduct Authority, which established a framework for asset management cost and fee disclosures in pensions. Current projects include, work with the Institute and Faculty of Actuaries examining trustee decision making; he is the lead researcher on a project with the Association of Member Nominated Trustees, the UK Sustainable Finance Initiative, and the UN Principles for Responsible examining split voting in pooled funds; and is lead researcher on the economic impact of block chain technology in farming supply chains in developing markets for the World Bank. In this interview with Tim Coleman from AHC, Iain discusses the implications of AI and Fintech on the future of the pensions industry and some of the innovations that are with us now.
A CEO’s Virtual Mentor Episode 20 The ESG Canvas for Corporate Reporting with Pat Kampling, Chairman and CEO of Alliant Energy Welcome to Episode 20. I am joined by Pat Kampling, Chairman and Chief Executive Officer of Alliant Energy in Madison Wisconsin. This Episode 20 covers several areas of topical interest including a discussion on ‘sustainability’ and the quickly emerging and rapidly evolving area of ESG or “Environmental, Social, and Governance” criteria. Institutional investors are demanding action and attention to ESG and CEO’s are responding by charting their companies’ course. This is not without tension for corporate management teams. We’ll discuss with Pat how she and Alliant have been addressing ESG and hopefully put you at ease. Madison-based Alliant Energy has a $10.8 billion market cap as a public utility holding company that provides regulated electric and gas service through its subsidiaries, Interstate Power and Light and Wisconsin Power and Light to 410,000 gas customers and just shy of one million electric customers. Pat has served as chairman and CEO since 2012 and prior to that, she was COO for about a year and prior to that, she was CFO and Treasurer and has an extensive finance background. Foundationally, Pat is an engineer and a registered professional engineer at that --- a true renaissance woman. I’d like to express our special thanks to the clients of Lyceum Leadership Consulting that enable us to bring you this podcast. The UN “Principles for Responsible Investment” or PRI are a set of six principles that provide a global standard for responsible investing as it relates to environmental, social and corporate governance (ESG) factors. Organizations follow these principles to meet commitments to beneficiaries while aligning investment activities with the broader interests of society. The PRI movement began in early 2005, when the then United Nations Secretary-General Kofi Annan invited a group of the world’s largest institutional investors to join a process to develop the Principles for Responsible Investment. The Principles were launched in April 2006 at the New York Stock Exchange. Since then the number of signatories has grown from 100 to over 1,800. I’ll briefly summarize the six principles that investor-signatories publicly demonstrate: They incorporate ESG issues into investment analysis and decision-making processes. They are active owners and incorporate ESG issues into their ownership policies and practices. They seek appropriate disclosure on ESG issues by the entities in which they invest. They promote acceptance and implementation of the Principles within the investment industry. They work together to enhance their effectiveness in implementing the Principles. They each report on their activities and progress towards implementing the Principles. Sweeping in its reach, isn’t it? But what triggered a Madison-based company to consider these UN Principles as a guide? Thanks for listening. We can’t improve without your feedback – write us through our website www.LeadershipLyceum.com and subscribe wherever you listen to your podcasts. Informative and Helpful Links The UN “Principles for Responsible Investment” or PRI. Alliant Energy’s 2018 Corporate Sustainability Report Goldman Sachs’ ESG Report from 2017. See the impressive list of “Key Metrics and Indicators” on page 30 – 32. Program Guide Episode 20 The ESG Canvas for Corporate Reporting with Pat Kampling, Chairman and Chief Executive Officer of Alliant Energy 0:32 Introduction to Episode 20 and Pat Kampling, Chairman and Chief Executive Officer of Alliant Energy 2:40 ESG discussion and the Sustainability Report of Alliant Energy 7:46 Break 1 8:12 Investor demands around ESG cuts through politics 9:05 Safety at Alliant Energy 13:38 Break 2 13:52 Culture shaping at Alliant Energy 21:04 Break 3 21:20 Experience and advice in moving from CFO to CEO 22:46 Increasing and managing the tempo of an organization 28:18 The CEO role as a liberating role 28:55 Farewell and congratulations on Pat Kampling’s retirement effective July 1, 2019 28:54 Preview of upcoming Episode 21 with Ralph Izzo, Chairman, President and CEO of PSEG in Newark, NJ Biographies of Guests Ms. Patricia Leonard Kampling Pat Kampling is Chairman of the Board and Chief Executive Officer of Alliant Energy Corporation. Her broad experience within the utility industry has proven essential to Alliant Energy’s ability to ensure competitive costs and reliable service for customers, while strategically leveraging a balanced generation portfolio. Pat has responsibility for leading the performance and strategic growth of Alliant Energy’s regulated utility companies (IPL and WPL), serving customers in more than 1,200 communities throughout Iowa and Wisconsin. She also provides executive direction for Alliant Energy Resources, the parent company of Alliant Energy’s non-regulated businesses, which includes Alliant Energy Transportation and non- regulated generation facilities. Pat joined Alliant Energy in 2005 and served originally as Alliant Energy’s Vice President of Finance. She then transitioned into roles as Vice President and Treasurer; Vice President Chief Financial Officer and Treasurer; Executive Vice President and Chief Financial Officer. In these roles, Pat guided the financial objectives of the company, supported regulatory proceedings, promoted environmental commitments, and was instrumental in the development and communication of a long-term strategic plan. In 2011, Pat became President and Chief Operating Officer. She was responsible for overall corporate operations and was instrumental in the execution of Alliant Energy’s capital plan, commitment to customers, environmental planning and safety initiatives. She was named Chairman, President and CEO in 2012. Before joining Alliant Energy in 2005, Pat spent more than 20 years in increasingly responsible finance, treasury, regulatory and engineering positions within Exelon Corporation, ultimately serving as Senior Vice President and Chief Financial Officer of Exelon Enterprises and the Treasurer of Commonwealth Edison. Pat holds bachelor’s degrees in engineering and economics from Swarthmore College, an MBA from the University of Chicago Booth School, and is a registered Professional Engineer. She serves on the Boards of Directors of American Transmission Company and Briggs & Stratton Corporation. In February 2019, Pat announced her intent to retire from the company on July 1, 2019. The Board of Directors appointed Alliant Energy President and Chief Operating Officer John O. Larsen to succeed Kampling. More information on that announcement can be found in this article. Your host Thomas B. Linquist is the Founder and Managing Partner of Lyceum Leadership Consulting and Lyceum Leadership Productions. Over his 14 years in management and leadership consulting he has served a wide array of industrial clients. This includes leadership assessment and search for chief executive officers, chief financial officers, chief operating officers and boards of directors. He holds an MBA from the University of Chicago and over his 28-year career has served in a variety of roles: as an engineer with Shell Oil Company, a banker with ABN AMRO Bank, and as treasurer was the youngest corporate officer in the 150+ year history at Peoples Energy Company in Chicago. He is an expert on hiring and promotion decisions and leadership development. Over the course of his search career, he has interviewed thousands of leaders. Thanks for listening. We can’t improve without your feedback – write us through our website www.LeadershipLyceum.com and subscribe wherever you listen to your podcasts. Please rate us and spread the word among your fellow executives and board colleagues. Program Disclaimer The only purpose of the podcast is to educate, inform and entertain. The information shared is based on the collection of experiences of each of the guests interviewed and should not be considered or substituted for professional advice. Guests who speak in this podcast express their own opinions, experience and conclusions, and neither The Leadership Lyceum LLC nor any company providing financial support endorses or opposes any particular content, recommendation or methodology discussed in this podcast. Follow Leadership Lyceum on: Our website: www.LeadershipLyceum.com LinkedIn: The Leadership Lyceum LLC Twitter: @LeaderLyceum https://twitter.com/LeaderLyceum Email us: info@LeadershipLyceum.com Thanks for listening. We can’t improve without your feedback – write us through our website www.LeadershipLyceum.com and subscribe wherever you listen to your podcasts. Please rate us and spread the word among your fellow executives and board colleagues. This podcast Leadership Lyceum: A CEO’s Virtual Mentor has been a production of The Leadership Lyceum LLC. Copyright 2019. All rights reserved.
The black letter law discussed in this episode is: Commercial Space Launch Act of 1984 https://www.gpo.gov/fdsys/pkg/STATUTE-98/pdf/STATUTE-98-Pg3055.pdf Amended 2004 https://www.faa.gov/about/office_org/headquarters_offices/ast/media/PL108-492.pdf National Space Council meeting in FL https://spacepolicyonline.com/news/second-national-space-council-meeting-focuses-on-regulatory-reform-china/ Commercial Remote Sensing Regulatory Affairs Office https://www.nesdis.noaa.gov/CRSRA/ Land Remote Sensing Policy (Part of National Commercial Space Program Act) https://www.nasa.gov/offices/ogc/commercial/15uscchap82.html Strava collecting geo location data on military bases https://www.wired.com/story/strava-heat-map-military-bases-fitness-trackers-privacy/ GPS Selective Availability https://www.gps.gov/systems/gps/modernization/sa/ Union of Concerned Scientists estimate of satellites https://www.ucsusa.org/nuclear-weapons/space-weapons/satellite-database#.WtiuOC7waUk There are differing estimates of the number of satellites in space https://www.pixalytics.com/sats-orbiting-earth-2017/ UN Principles of Remote Sensing http://www.un.org/documents/ga/res/41/a41r065.htm National and Commercial Space Programs (Title 51) http://uscode.house.gov/view.xhtml?path=/prelim@title51&edition=prelim Licensing of Private Remote Sensing Systems 15 CFR 960 https://www.law.cornell.edu/cfr/text/15/part-960 United States v. Jones 132 S.Ct. 945 (2012) https://www.oyez.org/cases/2011/10-1259 Robert Draper article on surveillance and migration https://www.nationalgeographic.com/magazine/2018/02/surveillance-watching-you/ Kevin Pomfret is a Partner at Williams Mullen http://www.williamsmullen.com/people/kevin-d-pomfret
In Episode 11 of The Climate Changer Podcast, Gemma James of the UN Principles for Responsible Investment (UNPRI) discusses fracking and the merits of investor engagement in natural resource (extractives industry) projects.