This session looks at the expected sustainability policies in 2021 and the important role of a price on carbon as part of that. The winner of the Nobel Prize for his work on integrating climate change into long-run macroeconomic analysis outlines the best approaches from a policy perspective and how the private and public sector need to work together. Importantly he outlines how carbon footprints can actually be reduced at very low or no cost.
View William’s presentation slides here[vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22William%20Nordhaus%20%22%2C%22job_role%22%3A%22Sterling%20Professor%20of%20Economics%20and%20Professor%20of%20Forestry%20and%20Environmental%20Studies%2C%20Yale%20University%22%2C%22content%22%3A%22William%20Nordhaus%20was%20born%20in%20Albuquerque%2C%20New%20Mexico%20and%20completed%20his%20undergraduate%20work%20at%20Yale%20University%20in%201963%20and%20received%20his%20Ph.D.%20in%20Economics%20in%201967%20from%20the%20Massachusetts%20Institute%20of%20Technology%2C%20Cambridge%2C%20USA.%20He%20has%20been%20on%20the%20faculty%20of%20Yale%20University%20since%201967%20and%20has%20been%20Full%20Professor%20of%20Economics%20since%201973%20and%20also%20is%20Professor%20in%20Yale%E2%80%99s%20School%20of%20Forestry%20and%20Environmental%20Studies.%20Professor%20Nordhaus%20lives%20in%20downtown%20New%20Haven%20with%20his%20wife%20Barbara%2C%20who%20works%20at%20the%20Yale%20Child%20Study%20Center.%20He%20won%20the%20Sveriges%20Riksbank%20Prize%20in%20Economic%20Sciences%20in%20Memory%20of%20Alfred%20Nobel%202018%20for%20integrating%20climate%20change%20into%20long-run%20macroeconomic%20analysis.%5CnHe%20is%20a%20member%20of%20the%20National%20Academy%20of%20Sciences%20and%20a%20Fellow%20of%20the%20American%20Academy%20of%20Arts%20and%20Sciences.%20He%20is%20on%20the%20research%20staff%20of%20the%20National%20Bureau%20of%20Economic%20Research%20and%20has%20been%20a%20member%20and%20senior%20advisor%20of%20the%20Brookings%20Panel%20on%20Economic%20Activity%2C%20Washington%2C%20D.C.%20since%201972.%20Professor%20Nordhaus%20is%20current%20or%20past%20editor%20of%20several%20scientific%20journals%20and%20has%20served%20on%20the%20executive%20committees%20of%20the%20American%20Economic%20Association%20and%20the%20Eastern%20Economic%20Association.%20He%20serves%20on%20the%20Congressional%20Budget%20Office%20Panel%20of%20Economic%20Experts%20and%20was%20the%20first%20chair%20of%20the%20advisory%20committee%20for%20the%20Bureau%20of%20Economic%20Analysis.%20He%20was%20the%20first%20chair%20of%20the%20newly%20formed%20American%20Economic%20Association%20Committee%20on%20Federal%20Statistics.%20In%202004%2C%20he%20was%20awarded%20the%20prize%20of%20%E2%80%9CDistinguished%20Fellow%E2%80%9D%20by%20the%20American%20Economic%20Association.%5CnFrom%201977%20to%201979%2C%20he%20was%20a%20Member%20of%20the%20President%E2%80%99s%20Council%20of%20Economic%20Advisers.%20From%201986%20to%201988%2C%20he%20served%20as%20the%20Provost%20of%20Yale%20University.%20He%20has%20served%20on%20several%20committees%20of%20the%20National%20Academy%20of%20Sciences%20including%20the%20committee%20on%20Nuclear%20and%20Alternative%20Energy%20Systems%2C%20the%20panel%20on%20Policy%20Implications%20of%20Greenhouse%20Warming%2C%20the%20committee%20on%20National%20Statistics%2C%20the%20committee%20on%20Data%20and%20Research%20on%20Illegal%20Drugs%2C%20and%20the%20committee%20on%20the%20Implications%20for%20Science%20and%20Society%20of%20Abrupt%20Climate%20Change.%20He%20recently%20chaired%20a%20panel%20of%20the%20National%20Academy%20of%20Sciences%20which%20produced%20a%20report%2C%20Nature%E2%80%99s%20Numbers%2C%20that%20recommended%20approaches%20to%20integrate%20environmental%20and%20other%20non-market%20activity%20into%20the%20national%20economic%20accounts.%20More%20recently%2C%20he%20has%20directed%20the%20Yale%20Project%20on%20Non-Market%20Accounting%2C%20supported%20by%20the%20Glaser%20Foundation.%5CnHe%20is%20the%20author%20of%20many%20books%2C%20among%20them%20Invention%2C%20Growth%20And%20Welfare%2C%20Is%20Growth%20Obsolete%3F%2C%20The%20Efficient%20Use%20Of%20Energy%20Resources%2C%20Reforming%20Federal%20Regulation%2C%20Managing%20The%20Global%20Commons%2C%20Warming%20The%20World%2C%20and%20(joint%20with%20Paul%20Samuelson)%20the%20classic%20textbook%2C%20Economics%2C%20whose%20nineteenth%20edition%20was%20published%20in%202009.%20His%20research%20has%20focused%20on%20economic%20growth%20and%20natural%20resources%2C%20the%20economics%20of%20climate%20change%2C%20as%20well%20as%20the%20resource%20constraints%20on%20economic%20growth.%20Since%20the%201970s%2C%20he%20has%20developed%20economic%20approaches%20to%20global%20warming%2C%20including%20the%20construction%20of%20integrated%20economic%20and%20scientific%20models%20(the%20DICE%20and%20RICE%20models)%20to%20determine%20the%20efficient%20path%20for%20coping%20with%20climate%20change%2C%20with%20the%20latest%20vintage%2C%20DICE-2007%2C%20published%20in%20A%20Question%20Of%20Balance%20(Yale%20University%20Press%2C%202008).%20Professor%20Nordhaus%20has%20also%20studied%20wage%20and%20price%20behaviour%2C%20health%20economics%2C%20augmented%20national%20accounting%2C%20the%20political%20business%20cycle%2C%20productivity%2C%20and%20the%20%E2%80%9Cnew%20economy.%E2%80%9D%20His%201996%20study%20of%20the%20economic%20history%20of%20lighting%20back%20to%20Babylonian%20times%20found%20that%20the%20measurement%20of%20long-term%20economic%20growth%20has%20been%20significantly%20underestimated.%20He%20returned%20to%20Mesopotamian%20economics%20with%20a%20study%2C%20published%20in%202002%20before%20the%20war%2C%20of%20the%20costs%20of%20the%20U.S.%20war%20in%20Iraq%2C%20projecting%20a%20cost%20as%20high%20as%20%242%20trillion.%20Recently%2C%20he%20has%20undertaken%20the%20%E2%80%9CG-Econ%20project%2C%E2%80%9D%20which%20provides%20the%20first%20comprehensive%20measures%20of%20economic%20activity%20at%20a%20geophysical%20scale.%22%2C%22image%22%3A%2243060%22%2C%22linkedin%22%3A%22%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”]
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.
On International Women’s Day CalSTRS’ CIO, Chris Ailman gives the industry some pointers on how to improve its score on diversity and inclusion. CalSTRS is a diversity leader and has gender parity in its investment team has been a leader on diversity.
At the recent #actionsnotwords event in London, executives told of addressing philosophical blindspots, setting up flexible work hours, adding more drivers for recruitment and more.
The diversity problem in the industry is large. Investors know this, the challenge is how to fix it. Now a handful of funds are showing exactly how its done.
Leave a Comment
You must be logged in to post a comment.
Login