[vc_empty_space height=”10px”]
What is required for all investors to use their influence to create a more sustainable economy, and to wake up to the crucial role they play in ensuring a sustainable recovery?[vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Chris%20Ailman%22%2C%22job_role%22%3A%22Chief%20investment%20officer%2C%20CalSTRS%20(United%20States)%22%2C%22content%22%3A%22Christopher%20Ailman%20has%20been%20the%20chief%20investment%20officer%20of%20CalSTRS%20for%20over%2018%20years.%20He%20leads%20an%20investment%20staff%20of%20170%20and%20oversees%20a%20portfolio%20valued%20at%20%24253.6%20billion%20as%20of%20July%2031%2C%202020.%20He%20has%20over%2036%20years%20of%20institutional%20investment%20experience.%5CnHe%20has%20served%20on%20several%20boards%20and%20advisory%20boards%20in%20the%20US%20and%20UK.%20He%20represents%20institutional%20investors%20on%20the%20MSCI%20Index%20Editorial%20Advisory%20Board%2C%20EDHEC%20Risk%20Institute%2C%20PRI%20Asset%20Owners%20Advisory%20Committee%2C%20and%20the%20Toigo%20Foundation.%20He%20is%20the%20co-chair%20of%20the%20North%20American%20300%20Club%20and%20the%20Milken%20Global%20Capital%20Markets%20Committee.%20In%202016%2C%20he%20was%20part%20of%20the%20first%20cohort%20to%20achieve%20a%20Fundamentals%20of%20Sustainable%20Accounting%20(FSA)%20credential.%5CnEach%20year%2C%20he%20is%20recognised%20as%20one%20of%20the%20top%20CIOs%20both%20in%20the%20US%20and%20globally.%20He%20has%20received%20numerous%20awards%20and%20recognitions%3A%20CIO%20of%20the%20Year%20in%202000%2C%20recipient%20of%20the%202003%20Richard%20Stoddard%20Award%20for%20service%20in%20the%20investment%20of%20pubic%20pensions%2C%202006%20he%20received%20the%20Distinguished%20Service%20Award%20for%20Advancement%20of%20Latinos%20in%20Business%20from%20the%20New%20American%20Alliance%2C%202011%20he%20received%20the%20Institutional%20Investor%E2%80%99s%20Large%20Public%20Fund%20Manager%20of%20the%20Year%20Award%20and%20in%202013%20he%20was%20named%20the%20number%20three%20CIO%20in%20the%20world%20and%20Investment%20Innovator%20of%20the%20Year.%20In%20November%202017%2C%20Ailman%20received%20Institutional%20Investor%20magazine%E2%80%99s%20first%20Lifetime%20Achievement%20Award.%20He%20is%20a%20regular%20guest%20on%20the%20TV%20and%20radio%20and%20is%20frequently%20quoted%20in%20in%20major%20financial%20publications.%5CnAilman%20has%20a%20Bachelor%20of%20Arts%20in%20business%20economics%20from%20the%20University%20of%20California%2C%20Santa%20Barbara.%20He%20received%20his%20certified%20financial%20planner%20designation%20from%20the%20University%20of%20Southern%20California.%20He%20is%20married%20with%20three%20daughters%20and%20is%20a%20committed%20Promise%20Keeper.%5Cn%22%2C%22image%22%3A%2233625%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Fchristopherailman%2F%22%7D%2C%7B%22name%22%3A%22Barbara%20Zvan%22%2C%22job_role%22%3A%22President%20and%20chief%20executive%2C%20University%20Pension%20Plan%20(Canada)%22%2C%22content%22%3A%22Barbara%20Zvan%20is%20a%20seasoned%20senior%20executive%20and%20visionary%20in%20the%20pension%20field.%20As%20a%20trained%20actuary%20and%2025-year%20industry%20veteran%2C%20she%20brings%20expertise%20in%20pension%20administration%20and%20member%20services%2C%20pension%20design%2C%20enterprise%20strategy%20and%20risk%20management%2C%20long-term%20responsible%20investing%2C%20and%20leading%20high-performing%20teams.%5CnAfter%20starting%20out%20as%20an%20assistant%20portfolio%20manager%20at%20the%20Ontario%20Teachers%E2%80%99%20Pension%20Plan%2C%20she%20took%20on%20increasing%20responsibilities%20rose%20to%20become%20its%20chief%20risk%20and%20strategy%20officer%20(CRSO)%20and%20leader%20of%20the%20strategy%20and%20risk%20team.%20As%20CRSO%2C%20Zvan%20supported%20the%20plan%20sponsors%20in%20determining%20plan%20design%20and%20the%20board%20in%20establishing%20a%20robust%20enterprise%20risk%20management%20framework%20anchored%20by%20a%20transparent%20risk%20appetite.%20She%20helped%20design%20a%20total%20fund%20investment%20strategy%20that%20delivered%20both%20leading%20returns%20and%20a%20stable%2C%20secure%20pension%20promise%20to%20members.%20She%20crafted%20the%20fund%E2%80%99s%20responsible%20investing%20and%20climate%20change%20strategy%2C%20leading%20Ontario%20Teachers%E2%80%99%20to%20be%20named%20one%20of%20the%20world%E2%80%99s%20top%20responsible%20asset%20allocators%20by%20Bretton%20Woods%20II.%5CnRecognized%20as%20a%20leading%20voice%20on%20sustainable%20investing%20and%20an%20ambassador%20for%20defined%20benefit%20pensions%2C%20Zvan%20is%20known%20for%20her%20efforts%20to%20bring%20institutional%20strength%20to%20complex%20challenges%20and%20forge%20new%20collaborative%20pathways%20for%20innovation%20and%20growth.%5CnZvan%20was%20appointed%20to%20the%20Government%20of%20Canada%E2%80%99s%20Expert%20Panel%20on%20Sustainable%20Finance%2C%20is%20a%20member%20of%20the%20Advisory%20Committee%20for%20the%20new%20%E2%80%98Investing%20to%20Address%20Climate%20Change%E2%80%99%20Charter%20and%20played%20a%20significant%20role%20in%20creating%20the%20G7%20Investor%20Leadership%20Network.%5CnShe%20serves%20on%20the%20boards%20of%20the%20Global%20Risk%20Institute%20and%20the%20Responsible%20Investment%20Association%20and%20the%20advisory%20board%20of%20the%20Institute%20of%20Sustainable%20Finance%20at%20the%20Smith%20School%20of%20Business.%20She%20was%20chair%20of%20the%20International%20Centre%20of%20Pension%20Management%20and%20the%20Sustainability%20Accounting%20Standards%20Board%E2%80%99s%20Investor%20Advisory%20Group%2C%20and%20served%20of%20the%20boards%20of%20the%20Canadian%20Coalition%20for%20Good%20Governance%2C%20Cadillac%20Fairview%20and%20the%20Chilean%20water%20utilities%20Esval%20(Essbio)%20S.A.%5CnZvan%20is%20a%20Fellow%20of%20the%20Society%20of%20Actuaries%20and%20the%20Canadian%20Institute%20of%20Actuaries%2C%20a%20holder%20of%20the%20Institute%20of%20Corporate%20Directors%20designation%20(ICD.D)%20and%20has%20a%20Master%20of%20Mathematics%20degree%20from%20the%20University%20of%20Waterloo.%20She%20is%20an%20honouree%20of%20Canada’s%202020%20Clean50%20and%20Canada’s%202008%20Top%2040%20Under%2040.%5Cn%22%2C%22image%22%3A%2233626%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Fbarbarazvan%2F%3ForiginalSubdomain%3Dca%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”]
Key takeaways
Chris
Screening China from an environmental and human capital standpoint will be critical in 2021.
Investment teams of the future will be younger, more open-minded and highly adaptable. People are a huge asset. How people are managed impacts company value greatly.
The future may well involve closer collaboration between asset owners and asset managers. Wall Street is far too expensive.
It is hard to be adaptable when reality hits you in the face.
The future will be much more challenging than the past.
Throughout history massive shocks have forced changes in human behaviour.
Sustainability can become part of the mainstream lexicon in the USA if we are not unnecessarily distracted by politics. We need to take the conversation away from politics and focus on risk.
We have entire parts of the world that are not fully committed to sustainability, so it is hard to be proud.
We need all the world’s bright minds to think ahead.
‘Constant education is key to a better world and a better future.’
Barbara
We should consider what our individual organisation can do and what our organisation can do in partnership with others.
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.
Last Thursday, March 12 the US Senate Democrats’ Special Committee on the Climate Crisis heard from industry experts, including Bob Litterman and Frederic Samama, on the economic risks of climate change. They all pushed for a price on carbon and for action, now.
Being passively invested shouldn’t mean being passive with regard to responsibilities says the Church of England Pension Board which has developed a new climate transition index with FTSE Russell, LSE and TPI that is the first to incorporate forward-looking climate data.
Designing a 1.5°C asset portfolio to mobilise capital for a sustainable future requires some big thinking and intensive collaboration, not to mention transformational change that extends way beyond the borders of the investment industry. So what role do investors play?
The largest pension fund in Europe, the €450 billion Dutch ABP, set out its sustainability and responsible investment plan for 2025 last month. The plan sets out long-term objectives – in line with the goal of a climate-neutral economy by 2050 – as well as the short-term steps to achieve that.
The UK’s £30 billion Brunel Pension Partnership is taking investing in a carbon zero future to a whole new level. It has just published a far-reaching Climate Change Policy filled with actions and deadlines linked to the goals of the Paris Agreement.
Leave a Comment
You must be logged in to post a comment.
Login