TBLI welcomes South Pole Carbon as the Carbon Neutrality Sponsor for TBLI CONFERENCE USA 2014 South Pole Carbon will offset CO2 emissions for all attendee travel to and from the conference through Emission Reduction Credits from an Inner Mongolia Bayinxile Wind Power Project.
In 21013, Emissions from attendee travel to TBLI CONFERENCE EUROPE 2013 (107.5 t CO2e) were offset by South Pole Carbon Asset Management using Emission Reduction Credits for avoided deforestation with the Kariba REDD+ project in Northern Zimbabwe.
Climate change is a worldwide issue and has many implications for businesses and investors. In multiple sessions during TBLI CONFERENCE USA 2014, speakers from the public and private sectors will give advice and discuss solutions around managing climate change and water risks, and on building resilient urban infrastructure. "We’re convinced that we have to reduce society’s vulnerability to weather related events and we have to decrease the loss burden from the impacts of climate change", says Mark Wey from SwissRe, who will be speaking in Workshop 5 on 29 May.
Many Mayors and city governments, such as in New York City, have taken the initiative to act on climate change and will join TBLI CONFERENCE USA 2014 to discussion with SwissRe and experts on sustainable urban infrastructure how to finance a resilient New York City, providing a blueprint for other urban areas in coastal regions.
A change in business can be observed with the raise of the consideration of water impacts. Companies are deeply changing the way they consider that resource. Beside this, a lot of water measuring tools and frameworks have been appearing lately with the objective of allowing companies to manage the water they use more efficiently.
However, companies are still needing more guidance for using those assessment tools, in order to get data that would be comparable between them.
A project has been conduced by the UN in collaboration with CDP and more, to present a common approach to corporate water reporting. CDP took part in that project to increase the transparency in this field and offer a greater clarity. The project called Corporate Water Disclosure Guideline has now been released since the end of september, providing meaningful data for the investors.
Tasha Seitz has been a technology venture capital investor with JK&B Capital since 1997, focusing on enterprise software, Internet infrastructure and mobile infrastructure investments. She serves on the board of and is the Chief Investment Officer for Impact Engine, where she coaches impact entrepreneurs in fundraising as well as identifying the ever-evolving landscape of impact investors.
Having been part of several technology cycles as a venture capital investor, Tasha has seen the power of the entrepreneurs to create markets and touch people’s everyday lives, and she is a passionate believer in the power of entrepreneurship to make the world a better place.
Impact Engine is a 16-week accelerator program that supports for-profit businesses addressing today’s societal and environmental challenges. We empower entrepreneurs, mentors, and investors to make a collective impact on society by applying smart business principles to the world’s greatest problems.
Ari Frankel (Head of ESG Strategy, Real Estate, Deutsche Asset & Wealth Management, USA)
Ari Frankel is Head of ESG Strategy, Real Estate, at Deutsche Asset & Wealth Management, based in New York City. He works closely with senior managers around the globe to shape and coordinate comprehensive sustainability and green building programming and related environmental and energy strategies, and participates in sustainability initiatives across Deutsche Asset & Wealth Management and Deutsche Bank Group.
with REIT.com, earlier this year, where he was asked why gathering sustainability data has become a key project for the real estate investment industry.
Cynthia Muller (Senior Manager, Impact Investing, Arabella Advisors, USA)
Cynthia Muller leads Arabella Advisor’s impact investing practice. She helps our individual and institutional clients understand the field of impact investing, develop strategies, and structure investments to accomplish their social and environmental goals. Her extensive background in social enterprise and mission investing includes connecting public policy, programs, and capital for emerging social innovations to increase economic opportunities for under-served and marginalized communities.
Caroline Vance supports the Community Development Finance Group’s management of funds for microfinance and has special responsibility for relationships in Central and South Asia. She also manages the administration and investor relations of the FINCA Microfinance Fund B.V. and she supports the team's social performance management and monitoring efforts.
Caroline's presentation will focus on how to demonstrate and talk about impact and how to classify investments according to their different missions. Caroline will also discuss how Deutsche Bank’s Global Social Finance group has been grappling with these challenges in the context of its most recent social investment funds.
Betsy Moszeter is the COO of Green Alpha Advisors and previously was Senior Vice President of the First Affirmative Financial Network. Green Alpha Advisors is an asset management firm founded on the belief that in order to live and thrive on our planet indefinitely there is a need for economic and technological transition to sustainability.
This interesting SRI survey: First Affirmative Survey, shows how SRI has become entrenched in mainstream finance. Commenting on the survey’s results, Betsy Moszeter says “Having reached the point where one out of two financial professionals have offered SRI options to their clients, it is clear that responsible investment strategies are now a client expectation that advisors need to be equipped to provide.”
Patrick Fisher (Founder & Managing Partner - Creation Investments Capital Management, LLC, USA)
Patrick Fisher is specialist in private equity investment, with a particular experience base in impact investments, social ventures and international/emerging markets. Mr. Fisher founded Creation Investments in 2007, leading the firm in Emerging Markets, Private Equity and Impact Investing since inception. He is a market leader in Emerging Market and Impact Investing, leading investments or providing advisory services on equity and debt transactions in businesses which serve the 'Bottom of the Economic Pyramid' (BOP) through Microfinance / financial services, health care, affordable housing, clean energy, and technology.
Leslie Samuelrich is the President of Green Century Capital Management, a socially responsible investment advisory firm that focuses on environmental responsibility and manages Green Century Funds. As president, Leslie is leading the funds' investment strategies and oversees Green Century's business development, communications and shareholder advocacy. Jointly with Trillium Asset Management and 350º, Green Century recently provided an updated version of the guide 'Extracting Fossil Fuels from Your Portfolio: An Updated Guide to Personal Divestment and Reinvestment'. Further reading by Green Century: Commentary on 'Top four reasons to divest from fossil fuel companies'.
Chris Fowle (Vice President, Investor Initiatives - CDP, USA)
Chris Fowle is the VP of Investor Initiatives for CDP in North America, managing relationships with investor signatories across CDP's Climate, Water, Forests & Carbon Action programs. Chris previously worked at Chase/JPMorgan, Deutsche Bank and Lehman Brothers. With its global disclosure system, CDP is equipping investors to be able to engage with their investment portfolio companies on natural capital use, helping to proect their assets against the rirsks fo future regulation on climate change and energy, accesss to water and the protection of natural resources. CDP recently published the Carbon Action Report 2014
Paul Christensen (Associate Dean, Global Programs and Clinical Associate Professor for Finance - Kellogg School of Management, USA)
Paul Christensen is a Clinical Professor of Finance at the Kellogg School of Management where he teaches courses in microfinance and international business. In addition, he serves as Academic Director for Kellogg’s Global Study Programs and as Senior Advisor for Global Strategy. Prior to Kellogg, Paul was the founder and president of ShoreCap International Ltd. and an associate and Eegagement Manager for the consulting firm, McKinsey and Company. At TBLI CONFERENCE, Paul will be focusing on lessons learned from the microfinance industry on how to mitigate the risks impact investors face in developing markets.
To learn more about the topics on the agenda and our speakers, view our program online. Sponsorship packages are available - please contact us at email@example.com to learn more.
Institutional investors have come to realise how important it is to understand exposure to carbon stranded assets. Fueled by an increased demand for solar and wind energy, clean energy investment last year beat expectations, rising 16 percent to $310 billion worldwide, according to Bloomberg New Energy Finance (BNEF).
The dash to reduce investors’ exposure is gaining momentum. Whether catalysed by a concern over mispriced fossil fuel assets or pressure for divestment, investors are beginning to use a critical eye to assess the carbon-related risks in their portfolios (MSCI 2015 ESG Trends to Watch)
Just one day after BP adopted a shareholder resolution to support better carbon asset risk disclosures following disappointing global oil demand and low oil prices, 62 institutional investors representing nearly $2 trillion in assets called on the Securities and Exchange Commission to push for better disclosure by oil and gas companies of critical climate change-related business risks that will “profoundly affect the economics of the industry.” (Investors Push SEC to Require Stronger Climate Risk Disclosure by Fossil Fuel Companies)
“We have found an absence of disclosure in SEC filings regarding these material risks, which constitute ‘known trends’ under SEC rules,” the investors wrote to SEC Chair Mary Jo White. “The risk of reduced demand for oil, uneconomic projects and stranded assets… is material to the companies and their investors, as it directly affects the profitability and valuation of the companies” cited 3BL Media (Investors Push SEC to Require Stronger Climate Risk Disclosure by Fossil Fuel Companies)
Guest Blog Post written by Julie Tran during TBLI CONFERENCE™ NORDIC 2015. Views and opinions are that of the writer and are not the official views of TBLI CONFERENCE™.
When looking at the state of our world concerning climate change, poverty, war and financial crisis, most people would agree with me that it’s time to change. Change in our mentalities, consumer habits, the way we work, connect and collaborate with each other. But is it enough? Or do we need to take bolder steps, especially those who manage the flow of monetary system?
During the past 5-10 years impact investment has grown fast where institutional investors like pension funds are playing a big role driving the movement forward. But there is no growth without challenges. From my attendance of the TBLI CONFERENCE™ NORDIC 2015 in Copenhagen, I had a chance to talk with Philippe Desfossés, CEO of the French public pension fund ERAFP, about the development of impact investment and the implications that it contains.
We started the conversation by talking about the challenges that institutional investors are facing at the moment.
Philippe told me that the first challenge is to survive the low return environment that many pension funds are facing. But despite the low return, he believed that the biggest challenge is to find the right balance between financing the transition of our economy to a more sustainable one, and investing in people who can speed up the transition. It’s also about daring to think out of the box and finding new ventures that have the potential to be disruptors. As incremental steps won’t be enough if we truly want to reach for a more sustainable future.
While I was listening to Philippe, I couldn’t help but think back to the “good old days” where I studied innovation from Copenhagen Business School, learning about disruptive versus incremental innovation. Some would argue that incremental innovations are the most effective, as not all disruptive innovations ended up revolutionising the targeted industry. I wondered; could Tesla’s new home-based battery disrupt the electricity market, decentralise the power and bring out the changes that we need? And preferably not only in wealthy developed countries but also in small remote villages in Africa, Latin America or Asia? If we look at this from a very long timespan, perhaps the most interesting questions are; how will Tesla’s innovation bring out a shift in other renewable energy industries? How would that influence the choices of impact investors who are making the decisions right now concerning which renewable industries to invest in?
Guest Blog Post written by Jonelle Maltay during TBLI CONFERENCE™ NORDIC 2015. Views and opinions are that of the writer and are not the official views of TBLI CONFERENCE™.
Andrea Dore, Lead Financial Officer in the Capital Markets Department of the World Bank Treasury sat down with TBLI during the recent Nordic Conference in Copenhagen to discuss her role in the organization and how she has seen the Green Bond develop from an idea to an innovative market that is rapidly expanding.
The Capital Markets Department is the group that raises funds for the World Bank in the international bond market to finance the Bank's development mandate. The World Bank finance projects focused on poverty reduction and inclusive growth across a range of sectors in the developing countries and the issue of climate change is important to the World Bank development mandate.
One of the key points that Andrea noted relates to the growth and diversity of issuers in the Green Bond market. The Green Bond market started with issuances from multilateral development institutions but there has been substantial growth in the Green Bond market with issuances coming from a wide range of issuers including government agencies, corporations and banks. Andrea noted that in the Green Bond market the World Bank has raised over US$8 billion with 100 transactions across 18 currencies.
Guest Blog Post written by Jonelle Maltay during TBLI CONFERENCE™ NORDIC 2015. Views and opinions are that of the writer and are not the official views of TBLI CONFERENCE™.
Andre Laude is Chief Investment Officer in the Western Europe Department of the IFC, which caters specifically to West European investors or sponsors. They handle the relationship between corporate and large financial institutions, as well as Western European DFIs and sponsors with a Cleantech focus that want to scale investments in emerging markets.
What have been the biggest changes at the IFC since you started until now in terms of how the organization has expanded its scope and how that has defined your role?
Asserting relationship management and how we view partners in relation to business generation. It’s not just moving from one transaction to the next, it’s being the advocate of clients over a long-term perspective by choosing partners more strategically to envision a long-term framework of objectives. These partners know today, tomorrow and far along into the future there is an advocate (the IFC) who will always have their best interests in mind and share common objectives. Especially in regards to climate and social governance, which have a lot more responsiveness from sponsors nowadays as awareness of ESG factors are becoming more prevalent.
The climate agenda is one of the key focuses at the moment for many sustainability initiatives. What suggestions do you have for equalizing the disproportionate split between mitigation and adaptation finance?
Technologies need to be developed to help society adapt to the climate challenge. We have to use a magnifying lens on our current practices whilst also looking toward the future to find the right technologies for helping societies and populations that are more vulnerable to climate risks to ride the proverbial tide, especially island nations that are facing climate disruptions the most. We need to think of climate adaptation in a different way by working with innovative business ideas, better methods of production and higher risk equations for things that have huge potential to bring benefits going forward. A lot of this is being conducted as research from our advisory services and within this spectrum there are some ideas that can evolve into investment projects, but some are more in the area of venture capital activity.
According to Green Peace, the world can rely on renewable energy for 100% of energy needs by 2050. But, what would the costs be? And what would be the impact on geopolitics? Jochen shares his views in this interview he had on Al Jazeera's "Inside Story".
Jochen Wermuth is Founding Partner of Wermuth Asset Management GmbH, a 100% impact family office, and of the Green Gateway Fund, supporting EU resource efficient growth companies. He headed the EU and World Bank financed Economic Expert Group under the Russian Ministry of Finance, was a founding management committee member of OOO Deutsche Bank, started supporting Greenpeace and set up his own firm in the 1990s.
The Green Gateway Fund 2 invests in EU resource efficient growth companies and helps them to grow in emerging markets where energy consumption per GDP is 4x higher than in the EU, which is both profitable and helps to abate climate change.
BlackRock, the world’s biggest fund manager, has teamed up with London’s FTSE Group and made a new FTSE index that excludes fossil fuel firms to allow investors to steer clear of the ‘carbon bubble’.
The Financial Times states: “Several market benchmarks have already been developed to cover companies likely to profit from tougher environmental regulations, such as renewable energy or water management groups. But the FTSE ones are believed to be the first from a leading index group that specifically bar fossil fuel companies”
This is another reason why divesting in fossil fuel is increasingly important. It is a tremendous risk for our planet and therefore a big risk for investors. Awareness as well as action are moving in the right direction, thanks to many initiatives world wide. The past months, The Norwegian National Committee for Research Ethics in Science and Technology (NENT) sparked the debate at various Norwegian Universities about whether petroleum research is defensible from the point of view of research ethics.
Sustainable Infrastructure is critical if one is going to try and reduce the risk of damage due to climate change. Either through mitigation or through adaption. The way cities are built will be absolutely critical.
Buildings account for about 75% of carbon emissions, 85% of water use, and 95% of electricity consumption in New York City. Most of us spend more money on housing than anything else. For these reasons, improving buildings is the most effective way to improve human health, help the environment, increase resiliency, and protect our pocketbooks, according to Urban Green.