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This session looked at green stimulus measures and the ingredients of success that will generate economic growth, create jobs and bring about environmental benefits. It studied the lessons of the GFC and the opportunity for greening the recovery from the COVID-19 crisis.
View Shardul’s presentation slides here[vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Shardul%20Agrawala%22%2C%22job_role%22%3A%22Head%20of%20environment%20and%20economic%20integration%20division%2C%20OECD%20(France)%22%2C%22content%22%3A%22Shardul%20Agrawala%20is%20head%20of%20the%20environment%20and%20economy%20integration%20division%20at%20the%20OECD%20Environment%20Directorate.%20He%20took%20up%20duties%20in%20July%202013.%20In%20this%20capacity%2C%20Agrawala%20leads%20the%20directorate%E2%80%99s%20work%20on%20economic-environmental%20modelling%2C%20empirical%20analysis%20of%20environmental%20policies%2C%20trade%20and%20environment%2C%20and%20on%20resource%20productivity%20and%20waste.%20At%20the%20OECD%20since%202002%2C%20he%20has%20previously%20served%20as%20senior%20advisor%20to%20the%20OECD%20secretary%20general%2C%20co-ordinator%20of%20the%20OECD-wide%20initiative%20on%20New%20Approaches%20to%20Economic%20Challenges%2C%20acting%20head%20of%20the%20Climate%20Change%20Biodiversity%20and%20Development%20Division%2C%20and%20senior%20economist%2C%20Climate%20Change.%20Agrawala%20has%20published%20extensively%20on%20climate%20change.%20He%20has%20led%20teams%20of%20international%20experts%20for%20chapters%20of%20the%20fourth%20and%20fifth%20Assessment%20Reports%20of%20the%20Intergovernmental%20Panel%20on%20Climate%20Change%20(IPCC).%20He%20received%20his%20PhD%20from%20Princeton%20University%20and%20has%20previously%20held%20research%20positions%20at%20Princeton%20University%2C%20Harvard%20University%2C%20Columbia%20University%20and%20at%20the%20International%20Institute%20of%20Applied%20Systems%20Analysis%20(IIASA).%22%2C%22image%22%3A%2233544%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Fshardul-agrawala-6749748%2F%22%7D%5D” title=”Speaker” el_class=””][vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Colin%20Tate%22%2C%22job_role%22%3A%22Chief%20executive%2C%20Conexus%20Financial%20(Australia)%22%2C%22content%22%3A%22Tate%20has%20been%20an%20investment%20industry%20media%20publisher%20and%20conference%20producer%20since%201996.%20In%20his%20media%20career%2C%20Tate%20has%20launched%20and%20overseen%20dozens%20of%20print%20and%5Cnelectronic%20publications.%20He%20is%20the%20chief%20executive%20and%20major%20shareholder%20of%20Conexus%20Financial%2C%20which%20was%20formed%20in%202005%2C%20and%20is%20headquartered%20in%20Sydney%2C%20Australia.%5CnThe%20company%20stages%20more%20than%2020%20conferences%20and%20events%20each%20year%20%E2%80%93%5Cnin%20cities%20which%20have%20included%20London%2C%20New%20York%2C%20San%20Francisco%2C%20Los%20Angeles%2C%20Amsterdam%2C%20Beijing%2C%20Sydney%20and%20Melbourne%20%E2%80%93%20and%20publishes%20three%20media%20brands%2C%5Cnincluding%20the%20global%20website%20and%20strategy%20newsletter%20for%20global%5Cninstitutional%20investors%20conexust1f.flywheelstaging.com.%20One%20of%20the%20company%E2%80%99s%20signature%20events%20is%20the%20bi-annual%20Fiduciary%20Investors%20Symposium.%20Conexus%20Financial%E2%80%99s%5Cnevents%20aim%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%5Cnretirement%20incomes.%20Tate%20served%20for%20seven%20years%20on%20the%20board%20of%20Australia%E2%80%99s%20most%20high%20profile%20homeless%20charity%2C%20The%20Wayside%20Chapel%3B%20and%20he%20has%20underwritten%20the%5Cnwelfare%20of%2060%2C000%20people%20in%2028%20villages%20throughout%20Uganda%20via%20The%20Hunger%20Project.%22%2C%22image%22%3A%2233547%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”]
As of early June, almost USD$10 trillion had been committed by governments worldwide to combat COVID-19 in the form of loans, stimulus and bailouts. This figure included up to 1 trillion in green related packages.
Our preliminary assessment is that the stimulus response so far has been more brown than green and that should be a big concern to all of us.
Large, timely and well-designed green stimulus can generate economic growth.
To build back greener, we should resist the urge to cut and paste the response measures put in place during the Global Financial Crisis.
More work is needed to ensure the ESG ratings are fit for purpose. We need to make sure the E component continues to get adequate attention and adequate weight.
A more precise common understanding of the criteria for ‘green’ and ‘sustainable’ would help facilitate a green recovery.
One of the most important, upcoming challenges at CalSTRS is how the fund should evaluate Chinese investments from a human capital and environmental standpoint, says Chris Ailman, chief investment officer at the giant pension fund.
Leading ASI’s climate agenda is Eva Cairns, Senior ESG Investment Analyst. She talks on a host of topics, from about her wide-ranging views on responsible investment and her passion in helping address climate change, to why she’s so keen that we all "grow the pie".
Companies’ pledges of ‘net-zero’ emissions are only meaningful if backed by credible action plans that do not rely heavily on offsetting. Read Aberdeen Standard Investment's report.
Our climate is changing. In recent years, we have seen an increase in costly extreme weather events such as storms, wildfires and floods. At the same time, we are living through the hottest years on record. Read Aberdeen Standard Investments paper below.
Our climate is changing. In recent years, we have seen an increase in costly extreme weather events such as storms, wildfires and floods. At the same time, we are living through the hottest years on record. Read Aberdeen Standard Investments paper below.
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