Moving towards climate resilient investments

Moving towards climate resilient investments
Workshop on March 11th and 12th, 2014
Bloomberg Auditorium Zürich
In collaboration with UNEP FI, South Pole Carbon,
2° Investment, Climate-KIC
Our partners:
Preface
Every day, millions of Euros are invested around the globe financing climate change. Investors have started to realize that they are responsible for the climate impact of their investments. In addition, a sensitized public as well as regulators are
increasing the pressure from the outside.
Translating the awareness into an actionable strategy still remains a huge task.
The reasons are diverse and reach from practical methodical challenges to lack of
information and structural hurdles.
We will discuss these challenges in our workshop and specifically address the business models of banks, investment banks, asset managers and asset owners
Workshop’s objectives
WWF, along with several practitioners, wants to guide asset owners, asset managers
and banks into dealing actively with the climate impact of their investments and to develop a commitment toward investment strategies that are commensurate with a sub 2
degree warming world
The objective is to support financial institutions in identifying the business case to reduce exposure towards carbon intensive investments. This should lead to phrasing
their own carbon strategies. Although different financial institutions (global banks, asset managers, private and regional banks, foundations, asset owners and other investors) have different perspectives and starting points towards the issue due to their individual business model, the guiding questions, challenges and success factors are similar.
As a first step, the workshop is looking at bringing different stakeholders from the financial industry together to assess and establish the status quo on investments and
climate impact as well as learn from each other’s best practices and experience how
to overcome the main challenges. The aim of the workshop is to answer the following
questions:
1.
2.
3.
What is the status quo and state-of-the-art in carbon impact measurement?
What are the main challenges for financial institutions to measure carbon impact,
reduce exposure towards carbon intensive investment and develop consistent
strategies towards climate resilient portfolios? (Organized in the context of the 2°
Investing Initiative's study on the use of indices)
What are the main opportunities?
Workshop approach
The workshop will be an interactive peer-workshop. The participants receive input
through short presentation from key speakers from the industry as well as concrete
cases. Focus will be on best practice sharing and discussions among the participants.
Before the start, some pre-training questionnaire will be send to the participants as
preparation and as basis of discussion during the workshop.
Notes will be taken throughout the workshop and a summary of the key conclusions
will be delivered to the participants afterwards.
For each session, concrete cases will be presented to the participants, which
are asked to work in groups and are assigned some questions to be answered
during the group presentation and to be presented into a plenary discussion at
the end.
Less talk, take action: Towards climate resilient investments
DAY 1
13h30
Registration and Coffee
14h00
Welcome
14h15
Setting the scene: Climate Change and Financial Market (carbon and
systemic risks, recent developments, overview)
Matthias Kopp,
WWF Germany,
Workshop # 1: From Status Quo to State-Of-The-Art in climate impact measurement
15h00 0
This workshop will explore the status quo and state-of-the-art in carThis
workshop
will explorediscuss
the status
quo and state-of-the-art
in
bon impact
measurement,
the strengths
and limits of current
carbon impact measurement, discuss the strengths and limits of
methodologies and the steps needed to go beyond accounting tocurrent methodologies and the steps needed to go beyond accountward 2C° compatible portfolios.
ing toward 2C° compatible portfolios.
Input 1: The view of the civil society on the risks of climate change
for the finance sector
James Leaton,
Project Director,
Carbon tracker
Input 2: Carbon Risks Valuation Tools
Gregory Elders,
Senior ESG Analyst, Bloomberg
Input 3: Overview of existing climate impact measurement methodologies (report ."From financed emission to long-term investing
metrics”)
Þ
Case: Beyond carbon accounting to 2C compatible portfolios.
Þ
Case: Fondazione Cariplo and climate impact assessment of
the portfolio
·
Which conclusions can be driven from the cases presented?
How do you see the status quo: pros and cons of carbon accounting?
Where do you see need for further research/development?
What would be needed to develop consistent strategies towards climate resilient portfolios?
What are the current materiality of carbon risks for Financial
Institutions?
·
·
·
·
Stanislas Dupré, 2
degree investing
initiative
Aled Jones, Head
of Responsible Investment EMEA,
Mercer (tbc)
Alessio Bellincampi, Financial
Officer, Fondazione
Cariplo
17h00
Wrap-up and key take-away messages
17h15
Presentation of the Sgreenvest Project
18h00
End of Day 1 and Apéro
19h30
Optional *: Joint Dinner in Zürich: le “Dézaley”, Römergasse 7+9, 8001 Zürich (beim Grossmünster): Map
* The costs of the dinner are not covered by the organisers
Maximilian Horster,
South Pole Carbon
DAY 2
09h00
Breakfast
Workshop # 2: Too irrelevant, too expensive, too complicated?: Overcoming the main barriers to private capital reallocation
09h30
The objective of this session is to explore the main challenges for financial institutions to measure carbon impact, reduce exposure towards carbon intensive investment and develop consistent strategies
towards climate resilient portfolios.
Workshop 2: This workshop will explore the main barriers to private
capital reallocation and more precisely the use of Benchmark Indexes as Investment Guidelines: Implications for Risk Exposure & Climate Finance. (Organized in the context of the 2° Investing Initiative's
study on the use of indices)
Input 1: Research on Benchmark Indexes as Investment Guidelines
Input 2: Allianz
Input 3: Ap4
ÞCase Ap4 Funds
·
Are you confronted to the same challenges /objections when
trying to implement a carbon integration strategy?
·
How did you succeed to overcome these challenge or foresee
to overcome them?
What are the obstacle to the adoption of alternative benchmarks?.
·
11h00
Coffee Break
Stanislas Dupré,
Executive Director,
2° Investing Initiative (co-moderator)
Allianz (Tbd)
Mats Andersson,
Chief Executive
Officer AP4
11h20
Continuation of Workshop 2:
ÞItau Bank
·
·
·
How to convince the careless colleagues?
How to make the case for the necessary resources?
How to deal with difficulties of disinvestment without creating
dangerous refinancing risk both at the company and sectorial
levels?
12h30
Wrap up
13h00
Lunch
14h15
Input from a motivation coach
Workshop # 3: Because it’s good for the buizz: Opportunities in building climate resilient
portfolios
15h20
This last session will start with a few elevator pitches of industry representatives, who will present their approach to capture the opportunities related to the climate discussion. This will be followed by a panel
discussion that will explore what is needed for the financial sector to
move a step further.
Pitch 1: Transparency on sustainability performance for portfolios
Eve Morelli, Senior
Sustainability Analyst,
ZKB
Pitch 2: Family Office Case-Study
Ivo Knoepfel, managing director, onValues
Pitch 2: Decarbonizing Swiss Real Estate
Markus Gaebel, Global
Product Develop.& Sustainability, Credit Suisse
Pitch 3: Performance of low carbon investment
Susan Dreyer, Head
of Programs & Markets,
DACH region, CDP
Pitch 4: Opportunities in energy infrastructure investments
Tobias Reichmuth,
CEO & Co-Founder,
SUSI Partners
Concluding Panel Discussion:
· Allianz (person tbd)
· Matthias Kopp, WWF Germany
· Markus Gaebel, Credit Suisse
· Tobias Reichmuth, SUSI Partners
· Ivo Knoepfel, onValues
· Aled Jone, Mercer (Tbc)
Opening the floor for questions and discussion
17h00
Wrap-up comments (key take away from the workshop)
17h30
End of the event
Katharina Serafimova,
WWF CH
Informations
Moving towards climate resilient investments
Date, time:
Tuesday March 11, 2014, 1.30 p.m. – 6.00 p.m. Dinner in Zurich will follow
Wednesday, March 12, 2014, 9.30 a.m. – 5.30 p.m.
Location:
Bloomberg Auditorium, Seidengasse 20, 8001 Zurich (Map to the Auditorium)
Participation is free of charge.
Please be aware that the number of participants is limited, the participation will be only confirmed after registration.
Registration:
The event is by invitation only. Please contact [email protected] by February the
28th to confirm your participation.
If you cannot attend the whole event, please specify which workshop you plan to follow.
Training Center WWF
Bollwerk 35, 3011 Bern
Tel. 031 312 12 62
[email protected]
www.wwf.ch/bildungszentrum