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The climate emergency is so large it requires a rewiring of the whole economic and financial system. But to do this new risk models are required and old paradigms must be abandoned to make way for a better way of understanding complex systems.
View Professor Hepburn’s presentations slides here[vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Professor%20Cameron%20Hepburn%22%2C%22job_role%22%3A%22Professor%20of%20Environmental%20Economics%2C%20University%20of%20Oxford%20(United%20Kingdom)%22%2C%22content%22%3A%22Cameron%20Hepburn%20is%20the%20director%20of%20the%20economics%20of%20sustainability%20programme%2C%20based%20at%20the%20Institute%20for%20New%20Economic%20Thinking%20at%20the%20Oxford%20Martin%20School.%20He%20is%20also%20director%20and%20Professor%20of%20Environmental%20Economics%20at%20the%20Smith%20School%20of%20Enterprise%20and%20the%20Environment%2C%20a%20Fellow%20at%20New%20College%2C%20Oxford%2C%20and%20a%20Professorial%20Research%20Fellow%20at%20the%20Grantham%20Research%20Institute%20at%20the%20London%20School%20of%20Economics.%5CnHe%20has%20published%20widely%20on%20energy%2C%20resources%20and%20environmental%20challenges%20across%20a%20range%20of%20disciplines%2C%20including%20engineering%2C%20biology%2C%20philosophy%2C%20economics%2C%20public%20policy%20and%20law%2C%20drawing%20on%20his%20degrees%20in%20law%2C%20engineering%20and%20doctorate%20in%20economics.%20He%20is%20on%20the%20editorial%20board%20of%20Environmental%20Research%20Letters%20and%20is%20the%20managing%20editor%20of%20the%20Oxford%20Review%20of%20Economic%20Policy.%20His%20research%20is%20often%20referred%20to%20in%20the%20printed%20press%2C%20and%20he%20has%20been%20interviewed%20on%20television%20and%20radio%20in%20many%20countries.%5CnHepburn%20provides%20advice%20on%20energy%20and%20climate%20policy%20to%20government%20ministers%20(e.g.%20China%2C%20India%2C%20UK%20and%20Australia)%20and%20international%20institutions%20(e.g.%20OECD%2C%20UN%20organisations)%20around%20the%20world.%20He%20began%20his%20professional%20life%20with%20McKinsey%2C%20and%20has%20since%20had%20an%20entrepreneurial%20career%2C%20co-founding%20three%20successful%20businesses%20%E2%80%93%20Aurora%20Energy%20Research%2C%20Climate%20Bridge%20and%20Vivid%20Economics%20%E2%80%93%20and%20investing%20in%20several%20other%20social%20enterprises%2C%20such%20as%20Purpose%20and%20Apolitical.%20He%20also%20serves%20as%20a%20trustee%20for%20Schola%20Cantorum%20of%20Oxford.%5Cn%22%2C%22image%22%3A%2233617%22%2C%22linkedin%22%3A%22%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”]
We need to piece together what nasties might be lurking ahead.
We are pouring trillions into the rescue and recovery. Let’s make sure these trillions are directed into assets that are fit for the future.
80 per cent of people in China, Mexico and India want a green recovery. There is overwhelming appetite for a different and better future.
We must achieve net zero. It is a question of when, not if.
What theoretical ‘surgical interventions’ – legal cases or geopolitical actions – would accelerate the move to net zero?
Government is a key actor in the system as it can potentially enforce mandatory initiatives.
A carbon tax might be useful, but it is probably not the most important of effective tool. We have to paint on a broader canvas.
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Poll results
What percentage reduction in emissions from today’s levels is ultimately required to stabilise temperatures at 3°C[vc_line_chart x_values=”” values=”%5B%7B%22title%22%3A%220-20%25%22%2C%22y_values%22%3A%2217%22%2C%22color%22%3A%22blue%22%7D%2C%7B%22title%22%3A%2220-80%25%22%2C%22y_values%22%3A%2233%22%2C%22color%22%3A%22pink%22%7D%2C%7B%22title%22%3A%2280-100%25%22%2C%22y_values%22%3A%2250%22%2C%22color%22%3A%22chino%22%2C%22custom_color%22%3A%22%234cadc9%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.
Five years on since the SDGs were launched, an increasing number of investors are putting capital to work to earn returns alongside helping solve global scourges like the climate crisis, poverty and inequality. Sarah Rundell looks at New York Common Fund and Denmark's PKA among others.
The European Union's rescue plan will give a huge boost to an already thriving market for green bonds and other instruments that promote sustainability. But investors need to be wary: green comes in many shades.
How can investors work together to combat inequality? In this podcast episode Amanda White speaks to the president of CalPERS, Henry Jones, about his own experience and the fund's journey in tackling diversity and inclusion, in particular issues of racism.
More than 70 investors have collaborated to produce a framework for an investment strategy led approach to decarbonising portfolios and maximising efforts to achieve net zero emissions globally by 2050. The IIGCC, which developed the framework, is seeking consultation.
This piece is part of Disability Demands Justice, a dynamic, ever-evolving hub by the Ford Foundation to deepen our understanding of how disability intersects with social justice.
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