Transition Pathway Initiative: Energy Report

Governance evaluation is prominent in ESG analysis and security pricing. During this webinar, we will explore whether and to what extent governance factors are assessed differently by equity and fixed income investors, including relevant metrics.

Speakers:
- Introduction by: Alex Edmans, Professor of Finance, the London Business School & Academic Director, the Centre for Corporate Governance
- Iyassu Essayas, Director of ESG Research, Parnassus Investments
- Brian Garcia, CFA, Vice President, Corporate Credit Analyst, Breckinridge Capital Advisors
- Linda Giuliano, BrightWorld Advisors, Founder & former Head of Responsible Investment, Alliance Bernstein
- Nicholas Kordowski, Head of Non-Financial Research, Fixed Income, Aberdeen Standard Investments
- Moderated by: Robert Wilson, Research Analyst, MFS

With pressure to address climate change continuing to build, there is a growing need for updated and improved guidance on how investors and companies can manage risks and better position themselves for the energy transition. To help meet this, the Financial Stability Board’s Taskforce on Climate-related Financial Disclosures has significantly increased its output in 2020. This has included new technical guidance on the climate scenario analysis and risk management recommendation.
The PRI is delighted to host this webinar and provide a chance for signatories to hear directly from the authors of these publications, their key findings and updated practical guidance on how to implement the Taskforce’s recommendations.

Speakers include:
- Martin Skancke, Chair PRI, TCFD Taskforce member
- Martin Weymann Head Sustainability, Emerging & Political Risk Management, Group Risk Management, Swiss Re, TCFD Taskforce member
- Jeff Stehm, Secretariat, Task Force on Climate-Related Financial Disclosures

The insurance industry is in the business of risk; acting as risk managers, risk carriers and investors. Accordingly, the insurance industry is significantly exposed to risks posed by the increasing frequency and intensity of extreme weather events, as well as the global transition towards a low-carbon economy. Adding the recent unprecedented pandemic for additional complexity and uncertainty, it is more important than ever before for managers of insurance company assets to factor relevant ESG risks into their investment portfolios.

Please join the PRI and the CFA Society Boston on December 14th at 11 am ET for the second in a series of events exploring responsible investing and the US insurance industry. In this session, you will hear directly from investment officers of two major Insurance firms on the unique challenges they face, potential increased regulatory scrutiny and how they plan to continue managing resilient and sustainable insurance investment portfolios.

Confirmed speakers:
Randy Brown, CIO, Sun Life & Head of Insurance Asset Management at SLC Management
Patrizio Urciuoli, Co-Head of Strategy &Asset Allocation, Executive Managing Director, Executive Vice President Liberty Mutual Insurance Group

After extensive review and consultation with PRI’s signatories, the new 2021 Reporting Framework has recently launched. Join the PRI webinar on 10 December for an overview of the main changes and for an opportunity to ask questions about the content of the new PRI’s Reporting Framework ahead of the next reporting cycle opening in January 2021.

Speakers include:
Elina Rolfe, Director Reporting & Assessment, PRI
Senita Galijatovic, Head of Reporting & Accountability, PRI

Effective whistleblowing mechanisms are a key feature of good governance and anti-corruption systems, as well as being reflective of a healthy corporate culture centred on trust and responsiveness. Investors can also use the presence or absence of these mechanisms to assess the efficiency of companies' risk management processes.

This webinar will explore the relevance of whistleblowing for investors and launch the PRI engagement guidance on whistleblowing. The discussion will cover the investor perspective, implications of recent regulatory developments such as the EU Whistleblower Protection Directive, and include perspectives from a former whistleblower.

Speakers:
Jack Poulson, Founder, Tech Inquiry and former whistleblower at Alphabet Inc.
Tim Goodman, Director, EOS at Federated Hermes
Ida Nowers, Law and Policy Coordinator, Whistleblowing International Network
Moderated by: Athanasia Karananou, Head of Corporate Governance, PRI

The PRI invites our signatories in China to join a workshop on the EU Taxonomy, led by Will Martindale, Director of Policy and Research at the PRI. The workshop aims to enhance signatories’ understanding of the implications and applications of the taxonomy.

The EU Taxonomy is not only relevant to signatories who need to comply with the Taxonomy Regulation but also to those who wish to prepare for a potential local taxonomy, explore tools to assess sustainability performance at a security or portfolio level, or design environmentally themed products.

The workshop will be covering the following questions relevant to signatories in China:
- Why is the EU Taxonomy developed? How is this work relevant to China?
- What are the key components of the EU Taxonomy?
- Who will be affected by the Taxonomy Regulation? How can signatories prepare?
- What are the implementation cases and best practices? What are the difficulties, learnings and experience from those signatories?
- How can the EU Taxonomy be applied beyond compliance needs?

Speakers include:
-Nan Luo, Head of China, PRI
-Robert Li, Director, Senior Investment Strategist, Harvest Global Investments
-Will Martindale, Director of Policy and Research, PRI

This session will focus on stewardship, Active Ownership 2.0, universal ownership and systemic risks. The panel will seek to provide detail on why investors should align with Active Ownership 2.0, in particular by making the case for a more systemic focus on the part of asset owners and managers.

Speakers:
Rick Alexander, Founder, The Shareholder Commons
Stephen Miles, Head of Equities, Willis Towers Watson
Dr Ellen Quigley, Advisor to the Chief Financial Officer (Responsible Investment), University of Cambridge

Moderator:
Paul Chandler, Director of Stewardship, PRI

Breakout 2B: Strategic asset allocation: the new frontier for responsible investment

The PRI has recently published a series of case studies that provide some real life examples of Strategic Asset Allocation (SAA) and ESG in practice. How ESG themes such as changing technology, governance, demography and climate themes are incorporated into SAA is a key challenge – but a challenge with significant opportunities. This session will review some examples of real practice and review the three areas highlighted in a recent PRI discussion paper: incorporating real world impact, improving risk adjusted returns and education. Through SAA, allocating capital towards financing real-world outcomes can make critical contributions to the SDGs and the Paris Agreement.

Speakers:
Christian Goldsmith, Lead Portfolio Specialist, Global Balanced Risk Control, Morgan Stanley
Dave McGowan, Director of Strategic Asset Allocation, BCI
Bob Smith, President & CIO, Sage Advisory
Andria Weil, Managing Director and Sustainable Investment Policy Manager, Wellington Management Company

Moderator:
Toby Belsom, Director of Investment Practices, PRI

Breakout 2A: Investor action on deforestation: lessons from Brazil

Against the backdrop of the COVID-19 pandemic, the deforestation crisis in the Amazon has continued to increase, with the damage caused by the 2020 fires season on course to break the already devastating record set in 2019.

One year since 250 institutional investors signed a statement on the Amazon fires, this session will discuss what has changed, where progress is needed, and the actions being taken from an investor, policy and company perspective to mitigate deforestation risk in agricultural supply chains.

Speakers:
Daniela da Costa-Bulthuis, Director, Emerging Markets Equities, Robeco
André Guimarães, Executive Director, Environmental Research Institute of the Amazon
Emine Isciel, Head of Climate and Environment, Storebrand

Moderator:
Tom Barron, Manager, Stewardship, PRI