Public markets present many opportunities to pursue environmental and social goals in investor portfolios. Bridgewater’s director of investment research, Karen Karniol-Tambour, discusses frameworks for assessing the sustainability and impact characteristics of public assets including equities, fixed income assets and commodities which investors can apply to their own portfolios.
View Karen’s presentation slides here[vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Karen%20Kaniol-Tambour%22%2C%22job_role%22%3A%22Head%20of%20investment%20research%2C%20Bridgewater%20Associates%22%2C%22content%22%3A%22Karen%20Karniol-Tambour%20joined%20Bridgewater%20in%202006%20and%20heads%20investment%20research%2C%20overseeing%20teams%20of%20investors%20developing%20systematic%20insights%20on%20global%20markets%20and%20economies.%20Karniol-Tambour%20is%20a%20member%20of%20Bridgewater%E2%80%99s%20investment%20committee%20and%20co-chair%20of%20Bridgewater%E2%80%99s%20commercial%20and%20business%20strategy%20committee.%20She%20leads%20Bridgewater%E2%80%99s%20sustainable%20investing%2C%20and%20is%20a%20member%20of%20Harvard%20Business%20Schools%E2%80%99%20Impact-Weighted%20Accounts%20Leadership%20Council.%20Karniol-Tambour%20received%20her%20AB%20from%20Princeton%E2%80%99s%20School%20of%20Public%20and%20International%20Affairs%20with%20a%20Certificate%20in%20Finance.%20She%20is%20a%20World%20Economic%20Forum%20Young%20Global%20Leader%2C%20an%20Atlantic%20Council%20Millennium%20fellow%2C%20and%20serves%20on%20the%20board%20of%20Seeds%20of%20Peace%2C%20a%20nonprofit%20cultivating%20young%20leaders%20to%20transform%20conflict%20in%20the%20Middle%20East%20and%20South%20Asia.%20Karniol-Tambour%20was%20included%20in%20Fortune%E2%80%99s%2040%20Under%2040%20most%20influential%20leaders%20in%20business.%22%2C%22image%22%3A%2243087%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Fkaren-karniol-tambour-34239ba%2F%22%7D%5D” title=”Speakers” el_class=””][vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Amanda%20White%22%2C%22job_role%22%3A%22Director%2C%20institutional%20content%2C%20Conexus%20Financial%20%20%20%22%2C%22content%22%3A%22White%20is%20responsible%20for%20the%20content%20across%20all%20Conexus%20Financial%E2%80%99s%20institutional%20media%20and%20events.%20She%20is%20responsible%20for%20directing%20the%20bi-annual%20Fiduciary%20Investors%20Symposium%20which%20challenges%20global%20investors%20on%20investment%20best%20practice%20and%20aims%20to%20place%20the%20responsibilities%20of%20investors%20in%20wider%20societal%2C%20and%20political%20contexts%2C%20as%20well%20as%20promote%20the%20long-term%20stability%20of%20markets%20and%20sustainable%20retirement%20incomes.%20She%20is%20the%20editor%20of%20conexust1f.flywheelstaging.com%2C%20the%20online%20news%20and%20analysis%20site%20for%20the%20world%E2%80%99s%20largest%20institutional%20investors.%20White%20has%20been%20an%20investment%20journalist%20for%20more%20than%2020%20years%20and%20has%20edited%20industry%20journals%20including%20Investment%20%26%20Technology%2C%20Investor%20Weekly%20and%20MasterFunds%20Quarterly.%20She%20was%20previously%20editorial%20director%20of%20InvestorInfo%20and%20has%20worked%20as%20a%20freelance%20journalist%20for%20the%20Australian%20Financial%20Review%2C%20CFO%2C%20Asset%20and%20Asia%20Asset%20Management.%20She%20has%20a%20Bachelor%20of%20Economics%20from%20Sydney%20University%20and%20a%20Master%20of%20Arts%20in%20Journalism%20from%20the%20University%20of%20Technology%2C%20Sydney.%20She%20was%20previously%20a%20columnist%20for%20the%20Canadian%20publication%2C%20Corporate%20Knights%2C%20which%20is%20distributed%20by%20the%20Globe%20and%20Mail%20and%20The%20Washington%20Post.%20White%20is%20currently%20a%20fellow%20in%20the%20Finance%20Leaders%20Fellowship%20at%20the%20Aspen%20Institute.%20The%20two-year%20program%20consists%20of%2022%20fellows%20and%20seeks%20to%20develop%20the%20next%20generation%20of%20responsible%2C%20community-spirited%20leaders%20in%20the%20global%20finance%20industry.%22%2C%22image%22%3A%2243061%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Famanda-white-101a7515%2F%3ForiginalSubdomain%3Dau%22%7D%5D” title=”Moderator” el_class=””][vc_empty_space height=”10px”]
[vc_empty_space height=”10px”]Are you pursuing impact in your portfolio?[vc_line_chart x_values=”” values=”%5B%7B%22title%22%3A%22Yes%2C%20in%20a%20small%20part%20of%20the%20portfolio%20(%3C5%25)%22%2C%22y_values%22%3A%2238%22%2C%22color%22%3A%22blue%22%7D%2C%7B%22title%22%3A%22Yes%2C%20in%20one%20asset%20class%20but%20not%20in%20others%22%2C%22y_values%22%3A%226%22%2C%22color%22%3A%22pink%22%7D%2C%7B%22title%22%3A%22Yes%2C%20in%20more%20than%20half%20of%20my%20portfolio%22%2C%22y_values%22%3A%2225%22%2C%22color%22%3A%22chino%22%2C%22custom_color%22%3A%22%2375d69c%22%7D%2C%7B%22title%22%3A%22Yes%2C%20in%20my%20whole%20portfolio%22%2C%22y_values%22%3A%2219%22%2C%22color%22%3A%22violet%22%2C%22custom_color%22%3A%22%23ebebeb%22%7D%2C%7B%22title%22%3A%22No%22%2C%22y_values%22%3A%2213%22%2C%22color%22%3A%22pink%22%2C%22custom_color%22%3A%22%23b97ebb%22%7D%5D”][vc_empty_space height=”10px”]What most stands in your way to pursue more impact through your portfolio of public market assets?[vc_line_chart x_values=”” values=”%5B%7B%22title%22%3A%22I%20worry%20I%20will%20give%20up%20too%20much%20return%22%2C%22y_values%22%3A%2214%22%2C%22color%22%3A%22blue%22%7D%2C%7B%22title%22%3A%22The%20availability%20of%20reliable%20and%20consistent%20data%22%2C%22y_values%22%3A%2243%22%2C%22color%22%3A%22pink%22%7D%2C%7B%22title%22%3A%22Communication%20with%20members%20and%20stakeholders%20(eg%20why%20we%20hold%20%2F%20don’t%20hold%20certain%20assets)%22%2C%22y_values%22%3A%2210%22%2C%22color%22%3A%22chino%22%2C%22custom_color%22%3A%22%2375d69c%22%7D%2C%7B%22title%22%3A%22Availability%20of%20sustainable%20investments%20at%20scale%22%2C%22y_values%22%3A%2219%22%2C%22color%22%3A%22violet%22%2C%22custom_color%22%3A%22%23ebebeb%22%7D%2C%7B%22title%22%3A%22Other%20challenges%22%2C%22y_values%22%3A%2214%22%2C%22color%22%3A%22pink%22%2C%22custom_color%22%3A%22%23b97ebb%22%7D%5D”]
Climate is by far the number one sustainability priority for investors in 2021 according to a poll of asset owners from more than 32 countries which came together for the Top1000funds.com online Sustainability event in March.
Integrating impact alongside risk and return is a revolution that will see more diversification among investor allocations to asset classes such as commodities. Elsewhere, it requires using multiple data sets to analyse stocks and sovereign bond allocations to see the real-world impact of a company’s product or services, and which governments are heading to net-zero. Bridgewater’s head of investment research Karen Karniol-Tambour explains.
Achieving diversity requires data, new recruitment practices and nurturing inclusion. And the financial industry must get its own house in order to better put pressure on investee companies.
In a fireside chat, Gloria Steinem reminds us why diversity is such an important issue for investors to understand, why it impacts society, business and investments so fundamentally, and why there is still so much work to do.
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