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Responsible investment is a long-term movement whose time has come. How can its leaders take the movement further? This session examined the importance of impactful stewardship to deliver sustainable wealth creation and its potential to transform financial, social and environmental outcomes.[vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Saker%20Nussebeih%20CBE%22%2C%22job_role%22%3A%22Chief%20executive%2C%20International%20at%20Federated%20Hermes%20(United%20Kingdom)%22%2C%22content%22%3A%22Saker%20Nussebeih%20is%20chief%20executive%20of%20the%20international%20business%20of%20Federated%20Hermes%2C%20appointed%20November%202011%2C%20having%20joined%20in%20June%202009%20as%20chief%20investment%20officer.%20He%20is%20also%20a%20member%20of%20the%20Federated%20Hermes%20Executive%20team.%20Prior%20to%20this%2C%20Nussebeih%20was%20global%20head%20of%20equities%20at%20Fortis%20Investments%2C%20having%20previously%20been%20CIO%20global%20equities%20since%202005.%20Before%20this%2C%20he%20was%20CIO%20of%20global%20equities%20and%20head%20of%20marketing%20for%20SGAM%20UK.%20This%20followed%20SGAM%E2%80%99s%20acquisition%20of%20Trust%20Company%20of%20the%20West%2C%20where%20Nussebeih%20was%20a%20managing%20director%20running%20global%20and%20international%20strategies%2C%20as%20well%20the%20London%20office.%20He%20started%20his%20career%20at%20Mercury%20Asset%20Management%20in%201987.%20%5CnNussebeih%20is%20founder%20of%20the%20300%20Club%20and%20was%20an%20inaugural%20member%20of%20the%20CFA%20Institute%E2%80%99s%20Future%20of%20Finance%20Advisory%20Council%20from%202013%20until%202019.%20He%20is%20a%20member%20of%20the%20IIRC%20Council%2C%20the%20FCA-PRA%20Climate%20Financial%20Risk%20Forum%2C%20the%20United%20Nations%20Environmental%20Programme%20Financial%20Initiative%20Steering%20Committee%2C%20the%20Banking%20Standards%20Board%2C%20the%20UK%20National%20Advisory%20Board%20on%20Impact%20Investing%2C%20and%20the%20advisory%20Board%20of%20the%20National%20Youth%20Orchestra.%5CnIn%202018%2C%20Nussebeih%20was%20named%20CEO%20of%20the%20Year%20at%20the%20Financial%20News%20Asset%20Management%20Europe%20Awards.%20He%20has%20a%20BA%20and%20PhD%20in%20Medieval%20History%20from%20King’s%20College%2C%20University%20of%20London.%5CnHe%20was%20awarded%20a%20CBE%20(Commander%20of%20the%20Order%20of%20the%20British%20Empire)%20in%20the%20Queen%E2%80%99s%202019%20New%20Year’s%20Honours%20list%20for%20services%20to%20Responsible%20Business%20and%20Finance.%22%2C%22image%22%3A%2233576%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Fsaker-nusseibeh-cbe-6b15a85%2F%3ForiginalSubdomain%3Duk%22%7D%5D” title=”Speaker” 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(Australia)%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%2233531%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”]
Long-term deep engagement on the issues that matter most leads to substantial outperformance versus the sector. Going forward, there will be an indisputable recognition by all investors that ownership of companies demands a critical element of stewardship.
Legitimate ESG managers have full integration, deep engagement with investee companies and a humility to accept that we are still learning. ESG is not a ‘do-gooder’ thing, it’s about doing capitalism better. I welcome every manager aiming to be an ESG manager. This is about us all winning, not one company winning.
Not believing in diversity is simply stupidity because it halves the supply chain.
COVID has taught us that culture, for example, has a real value in challenging circumstances which hasn’t always been truly acknowledged by investment analysis.
If you have a 30 year time horizon, expenditure on engagement is a value adding investment, not merely a cost.
Don’t bet on markets. Instead, invest and engage for the long-term. If you want to bet, go to Vegas, it’s a lot more fun.
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Poll results
Should stewardship be mandatory?[vc_line_chart x_values=”” values=”%5B%7B%22title%22%3A%22Yes%22%2C%22y_values%22%3A%2259%22%2C%22color%22%3A%22blue%22%7D%2C%7B%22title%22%3A%22No%22%2C%22y_values%22%3A%2224%22%2C%22color%22%3A%22pink%22%7D%2C%7B%22title%22%3A%22Maybe%22%2C%22y_values%22%3A%2218%22%2C%22color%22%3A%22chino%22%2C%22custom_color%22%3A%22%2350485b%22%7D%5D”]
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.
This episode explores the key pillars of a sustainable recovery including the three important long term trends that need to be addressed climate change, loss of biodiversity and inequality.
It explores the key role for the finance industry which includes building new models that are not only about maximising monetary profits but also transition theory, and the value of ecological and social capital.
Nigel Topping who was appointed by the UK Government as the High Level Climate Action Champion for United Nations climate talks, COP26 joins Fiona Reynolds, chief executive of the PRI, in conversation with Amanda White, editor of Top1000funds.com This episode focuses on climate change and how, amongst and despite, the short-term focus of this COVID-19 crisis, we can mobilise government, business and investors into action around this important issue of climate change.
COVID-19 has revealed some fundamental design flaws in our global economy, including the relentless pursuit of economic growth - not only at the expense of the environment but also at the expense of people. The investment industry has a role to play in fixing these design flaws. A systems framework for investing could be the answer.
For the economic recovery from the COVID-19 crisis to be durable and resilient, a return to ‘business as usual’ and environmentally destructive investment patterns and activities must be avoided. To avoid this, economic recovery packages should be designed to “build back better”.
As we move from the rescue to the recovery phase of the COVID-19 response, policy-makers have an opportunity to invest in productive assets for the long-term.
Investors in Canada and Australia have joined the Dutch funds, APG and PGGM, in making their intention of an AI-driven SDG investment platform a reality - the Sustainable Development Investments Asset Owner Platform.
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