Agenda

ESG & Climate Risk Summit 2023 agenda

2023 Agenda

08:5009:00

Risk Live Europe welcome

09:00 - 09:05

09:0009:20

Keynote address from a leading CRO – main stage

00:00 - 00:05

09:2009:40

Regulatory keynote

11:00 - 11:45

09:4010:00

Participants move to the ESG & Climate Risk Summit room

11:30 - 12:15

10:0010:30

The current headwind for ESG investments and Net Zero goals

12:30 - 13:15

  • In the era of recession and economic downturn what is the impact on investors’ appetite for ESG investments and companies’ net zero ambitions?
    • Will it reduce the focus of corporations on climate and environmental goals?
    • How could that impact the interplay between physical and transition risk?  
  • What is the impact on Europe’s decarbonisation agenda from the on-going war between Russia and Ukraine and resulting energy crisis?
  • Assessing the impact of high inflation and rising interest rates on green investments
  • How are current events affecting ESG and climate risk management strategies?
Nick Stansbury

Head of climate solutions

Legal & General Investment Management

Nick joined in 2013 as a Fund Manager in LGIM’s Global Equity team, focused on energy and natural resources. Prior to joining LGIM he was an Investment Director for Developed Asia and Global Emerging Markets at Standard Life Investments. He previously worked for an emerging market focused hedge fund investing in equities, convertible bonds and distressed debt. He has also worked in a corporate advisory role and as a software developer. Nick has a law degree (LLB.) and a Master’s in jurisprudence (MJur.), focused on securities law, from the University of Durham.

10:3011:15

Navigating regulatory and reporting requirements and expectations

14:00 - 14:45

Disclosure requirements

  • Challenge of efficiently managing multiple disclosure requirements for large multi-jurisdictional financial institutions given increasing divergence of requirements
  • Sustainable Finance Disclosure Regulation (SFDR) and the requirements for investment funds that fall within the scope of Article 9 known as “Dark Green” funds.
  • Stress testing requirements
  • How can standard developers help to achieve harmonisation?
  • Speed and direction of travel for climate and environmental regulation
Mark Manning

Sustainable finance and stewardship lead

Financial Conduct Authority

Mark Manning leads the FCA’s policy work on sustainable finance and investor stewardship. In this role, he is responsible for several initiatives, including the FCA’s implementation of the TCFD’s recommendations and the FCA’s work with IOSCO on corporate reporting standards on sustainability. Prior to joining the FCA in 2018, Mark spent fifteen years as a central banker with the Bank of England (BoE) and the Reserve Bank of Australia (RBA). He held a number of senior roles, with a particular focus on policy, research and supervision in the field of financial market infrastructures (FMIs). Before joining the official sector, Mark spent several years as a fixed income and currency fund manager with Kleinwort Benson Investment Management and Goldman Sachs Asset Management. Mark holds Master’s degrees in Economics and Finance, from University College London and London Business School, respectively.

Krista Tukiainen

Founder and CCO, ClimateAligned; Senior advisor, Climate Bonds Initiative

Jonathan Walker

Sustainable investment manager

Gresham House

Jonathan is Associate Director, Sustainable Investment at Gresham House, a specialist alternative asset manager with £7.8bn AUM. Jonathan has a particular focus on real assets, including sustainable infrastructure and housing and is involved in all aspects of sustainable investment, from impact measurement, to reporting, to tackling UK and European sustainable finance regulation.

Before joining Gresham House, Jonathan worked at Morgan Stanley for six years, most recently as a research analyst within the Sustainability Research team ranked number one for SRI research in the European Institutional Investor survey. His primary areas of focus included cross-sector sustainability research and European sustainable finance regulation, as well as working closely with the firm’s institutional clients on incorporating ESG into their investment processes.

Jonathan holds a first-class degree in English Literature from the University of Bristol and is a CFA charterholder.

Sharon Thiruchelvam

Regulation reporter

Risk.net

11:1511:45

Networking refreshments break

12:15 - 13:00

11:4512:30

Investors debate: keys steps for designing green portfolios

11:00 - 11:45

Investment strategies and asset allocation

  • What is the right investment approach when designing a portfolio that would not hurt the environment and not contribute to climate change?
  • Green bonds, green derivatives – what else is available?
  • The role fixed income could play in ESG investing

Divest or not divest?: that is the question

  • Is stopping investing in oil, gas and electricity companies - that require enormous investment for transition - the right thing to do?
  • When to divest and when to work with companies to help them decarbonise?
  • How to pick the companies that will be the leaders in low carbon economy?

Measuring

  • How to measure your portfolio impact?
  • Measuring and mapping physical climate risk into the future

S and G

  • Focusing on Social and Governance in the ESG equation
Ulf Erlandsson

Founder and chief executive

Anthropocene Fixed Income Institute

Dr Ulf Erlandsson is CEO and Founder of the Anthropocene Fixed Income Institute (AFII), the research organisation empowering fixed income to drive the climate transition.

Launched in 2020, AFII provides fixed income investors with the insights and tools they need to align their portfolios with ambitious climate targets. He previously ran global credit, SSAs and a total return alpha strategy at Swedish state pension fund, AP4. Prior to that, he was a quantitative strategist at Barclays Capital.

Ulf’s publication record covers a spectrum of credit and climate pieces such as “Credit alpha and CO2 reduction”, “High-frequency CDS index trading”, “Carbon negative leveraged investment strategies”, “An option pricing approach for sustainability-linked bonds” and books such as “Systematic CDS index trading handbook”, “CDS curve trading handbook” and “Empirical analysis of the credit cycle.”

Dr Erlandsson was awarded Environmental Finance’s Bond Personality of the Year 2022 as well as CFA Sweden’s ESG Prize 2021. He earned his Ph.D. in Economics from Lund University.

Isobel Edwards

Executive director and vice-president, green, social and impact bonds

Goldman Sachs Asset Management

Anna McDonald

Director, global ESG strategy

PGIM

Anna McDonald is a Director, Global ESG Strategy at PGIM based in London, UK. She joined PGIM in 2022 from the Church of England where she ran the Ethical Investment Advisory Group providing ethical investment advice to the Church’s investing bodies which include the Church Commissioners’ for England, the Church of England Pensions Board and the CBF Church of England Funds, managed by CCLA. Prior to moving into asset management, she spent nearly twenty years in investment banking with Barclays, Société Générale and BNP Paribas.

Mili Fomicov

Co-director, Centre for Climate Finance & Investment

Imperial College London

 

Mili Fomicov is a researcher at the Centre for Climate Finance and Investment, Imperial College London. Before joining Imperial College, she was a Director and Portfolio Manager in the Multi-Asset Strategies team at BlackRock. Previously, Mili was a Portfolio Manager on J.P. Morgan's CIO team, and managed US and Japan equity funds at Barclays. She started her career at AllianceBernstein in the US. She is a graduate of the University of Chicago Booth School of Business, where she received an MBA in Finance, Economics, Econometrics and Statistics

12:3013:10

Analytics, data and latest approaches to measuring climate risk and ESG

16:15 - 17:00

  • Increasing sophistication of available climate change risk metrics: what has already been achieved and what has yet to be improved?
  • With many different companies providing ESG and climate risk data and ratings is there a need for more unified and harmonised methodology?  
  • Particular challenge of lack of data when measuring ESG/Sustainability score of unlisted assets and illiquid portfolios: what strategies can companies use when assessing these assets?
  • Climate risk data / methodology: buy or develop in-house?
  • How can AI and ML models help handle climate data?

 

Victoria Collins

Global head of climate risk and ESG

Nomura

Victoria’s career spans over 25 years working in financial institutions, in trading, finance and risk roles, predominately in Risk Management. She has been with Nomura for ten years, focused on enterprise-wide risk management. She was appointed Global Head of Climate Risk & ESG three years ago. She is responsible for establishing and managing the global risk management framework for Climate Risk and ESG, and for ensuring risk management is aligned to the firm’s Sustainability objectives, such as Net Zero.

Matthew Wright

Research analyst

Impax Asset Management

Matthew works in Impax’s Listed Equities team, covering companies across the water value chain. He is also a specialist in physical climate risk research and impact, as they apply to Impax’s investments.
 
Matthew previously worked as an analyst in both a management consulting firm and in his first role as a carbon data analyst for an investment data analytics company, formerly known as Engaged Tracking.
 
He graduated from Imperial College London after gaining a master’s degree in Environmental Technology with a focus on environmental economics and policy. Matthew also has a bachelor’s degree in Geophysics from Imperial College London.

Stella Farrington

Head of content

Risk.net

Stella Farrington has been writing about energy markets for over 20 years, working at Futures World News and Dow Jones Newswires before moving to Energy Risk in 2004. She spent eight years as the editor of Energy Risk and six as a writer, before moving into her current role as Energy Risk’s head of content and a commercial editor with Infopro Digital’s Ignite team.

Andres Guerra Londoño

Strategy director

Clarity AI

Andres currently works in global business strategy at Clarity AI. Previously, he was a Senior Vice President in the Energy team at London-based investment bank Hannam & Partners, where he advised companies and investors in M&A transactions and capital raises globally. He has over ten years of experience in energy and finance.

13:1014:00

Networking lunch

12:50 - 14:00

14:0014:40

Climate risk models and metrics – what works and what does not work?

14:00 - 14:40

  • What are the remaining barriers to meeting ESG/ climate stress testing requirements? 
  • How to address methodology challenges such as extended time horizons and extensive use of proxies and assumptions in ESG stress testing.  
  • Climate VaR - how to measure the impact of climate risk in assets valuations.
Prerna Divecha

Global lead, market strategy and development, climate-linked credit and risk solutions

S&P Global Market Intelligence

Prerna leads the global market strategy for our Climate and ESG-linked Credit & Risk Solutions. She joined S&P Global Market Intelligence in May 2017 as a Director in the Product Specialist team for Credit Risk Solutions, leading efforts in South East Asia and Japan.

Previously she was at Fitch Ratings where she was part of the Business and Relationship Management team in Singapore managing new business initiatives for the corporate ratings business. Prior to that, she spent 2 years at Standard Chartered on the debt markets desk, where she assisted Indian corporates in issuing debt in G3 and select Asian currencies, such as SGD and JPY. She also spent 7 years in J.P. Morgan’s investment banking team, covering financial institution clients in India. Prerna is a certified Chartered Accountant from India.

David Carlin

Climate risk lead

UN Environment Programme Finance Initiative

David Carlin is an acknowledged authority on climate change and its implications for the financial system. He is the founder of Cambium Global Solutions, an advisor to governments, corporates, and financial institutions on climate and ESG topics. He has authored numerous reports that provide practical tools for financial actors looking to address climate change and has run capacity-building programs for financial institutions and supervisors around the world. 

David is the head of climate risk and TCFD for the UN Environment Programme’s- Finance Initiative (UNEP FI). Over the past years, he has worked with over 100 global banks, investors, and insurers on climate scenarios, climate risk assessments, and climate governance. 

He is an advisor to UNEP FI’s TNFD pilot program on nature and biodiversity related risks as well as the Net-Zero Banking Alliance (NZBA). He has also been a technical advisor to the Glasgow Financial Alliances for Net Zero (GFANZ). David is also a contributor to Forbes and a Senior Associate at Cambridge’s Institute for Sustainability Leadership (CISL).

David has worked as a Principal in Finance, Risk, and Public Policy for Oliver Wyman and in Model Risk Management for PNC Bank. His background is in quantitative modeling and decision science.

Navin Rauniar

Co-chair, ESG working group, and member, UK SteerCo

Professional Risk Managers'​ International Association

Navin Rauniar has 18 years of industry experience assisting large investment banks and capital market clients in responding to risk and regulatory requirements. Rauniar has significant experience working on cross-functional programmes spanning front office, risk, finance and compliance groups and speaks regularly at Libor transition events. He holds a bachelor’s degree in social sciences and economics from Brunel University in London.

14:4015:10

Practical implementation and delivering on climate promises in your organisation
Roundtable discussion

14:40 - 15:10

Many organisations have put forward ambitious ESG/ climate risk goals without necessarily being able to fully measure them. But how to actually deliver on these ambitious goals? Climate risk/ sustainability leaders from a number of financial institutions will share their practical perspective.

  • What concrete action points are needed to achieve a company’s Net Zero goals by 2050?
  • The importance of engaging and working with clients
  • Using transition finance as a key to getting to the Net Zero targets
Margot von Aesch

Head of sustainable investment management

Schroders

Margot von Aesch is Head of Sustainable Investment Management at Schroders, looking after the sustainable research, models and integration teams. She joined Schroders in 2021 and is based in London.

Between 2014 and 2021, Margot occupied a number of different roles at Redburn, an independent equity research house where she became a partner in 2018. Her roles included Co-Head of ESG, Head of Sales and Income Specialist. Prior to Redburn, Margot worked in Equity Sales for institutions such as BNP Paribas, Natixis and Société Générale, in Paris and London. She started her financial career with Cazenove in 2000.

Margot sits on the Board of the Sevenoaks Suns Basketball Club. She is also a member of the Senior Business Leaders Group of Women in Banking and Finance.

Margot holds a BSc (Hons) in Economics from the School of Oriental and African Studies.

Ella Hoxha

Senior investment manager

Pictet Asset Management

David Carlin

Climate risk lead

UN Environment Programme Finance Initiative

David Carlin is an acknowledged authority on climate change and its implications for the financial system. He is the founder of Cambium Global Solutions, an advisor to governments, corporates, and financial institutions on climate and ESG topics. He has authored numerous reports that provide practical tools for financial actors looking to address climate change and has run capacity-building programs for financial institutions and supervisors around the world. 

David is the head of climate risk and TCFD for the UN Environment Programme’s- Finance Initiative (UNEP FI). Over the past years, he has worked with over 100 global banks, investors, and insurers on climate scenarios, climate risk assessments, and climate governance. 

He is an advisor to UNEP FI’s TNFD pilot program on nature and biodiversity related risks as well as the Net-Zero Banking Alliance (NZBA). He has also been a technical advisor to the Glasgow Financial Alliances for Net Zero (GFANZ). David is also a contributor to Forbes and a Senior Associate at Cambridge’s Institute for Sustainability Leadership (CISL).

David has worked as a Principal in Finance, Risk, and Public Policy for Oliver Wyman and in Model Risk Management for PNC Bank. His background is in quantitative modeling and decision science.

15:1015:30

Addressing capital requirements over climate risk

15:10 - 15:30

  • How to incorporate climate risk into capital? Challenges and ways to overcome them.
  • Is capital actually the right lever for climate risk? What are other approaches?
  • Climate risk and ICAAP (internal capital adequacy assessment process)
Navin Rauniar

Co-chair, ESG working group, and member, UK SteerCo

Professional Risk Managers'​ International Association

Navin Rauniar has 18 years of industry experience assisting large investment banks and capital market clients in responding to risk and regulatory requirements. Rauniar has significant experience working on cross-functional programmes spanning front office, risk, finance and compliance groups and speaks regularly at Libor transition events. He holds a bachelor’s degree in social sciences and economics from Brunel University in London.

15:3016:00

Networking and refreshments break

11:00 - 11:30

16:0016:25

Looking beyond climate

16:00 - 16:25

Focus on biodiversity - how financial institutions can integrate climate and nature

Nina Seega

Director, Centre for Sustainable Finance

Cambridge Institute for Sustainability Leadership

Dr Nina Seega is the Director of the Centre for Sustainable Finance at the Cambridge Institute for Sustainability Leadership (CISL). The Centre incorporates CISL’s finance industry groups to provide the insight and cooperation needed to advance policy and market practices including; the Banking Environment Initiative (created in 2010 by CEOs of some of the world’s largest banks) ClimateWise (set up in 2007 for global insurance), and the Investment Leaders Group (leading investment managers and asset owners with over $ 14 trillion under management). Nina has worked with De Nederlandsche Bank (DNB) on the financial impact of disruptive energy transition, collaborated with the South African National Treasury and Banco de Mexico on embedding environmental scenarios into financial risk frameworks, and was the knowledge partner for the G20 Green Finance Study Group in 2016 and 2017. Previously, Nina was the Head of the London Traded Products Desk for Dresdner Kleinwort. In addition to her role at University of Cambridge Institute for Sustainability Leadership, Nina is a member of the Sustainable Finance Advisory Panel at the Monetary Authority of Singapore, Strategic Advisory Board on Sustainable Finance at the British Standards Institute, the Sustainable Finance Scientific Council at S&P Ratings, and the Board of Directors at the Global Research Alliance for Sustainable Finance.

Nina is driven by mainstreaming environmental and social considerations into daily financial and corporate decision making. Previously a risk manager with leadership experience in traded credit risk management. Nina has defended her PhD on strategic practices that drive resilience in finance at the University of Cambridge. She also holds an MPhil in Innovation, Strategy and Organisation from University of Cambridge and an MSc in Information Systems from the London School of Economics.

16:2516:45

ESG & Climate Risk Summit concluding remarks

15:25 - 16:45

16:4517:00

Participants move to the room with the main stage

16:45 - 17:00

17:0017:30

Concluding keynote - main stage

17:00 - 17:30

17:3019:00

Networking gala

17:30 - 19:00