Is Active Asset Ownership a mythical creature?
(Thomson Reuters ONE) -
1 September 2011, London, United Kingdom
The prominent sustainable investment commentator, Stephen Viederman observed
that investing is axiomatically about the future but this is the only thing we
can definitively agree on. Jonathon Porritt believes the reason for this is
simple market failure "for example, investment in carbon-intensive activities
drives climate change that poses a systemic risk to the whole economy. Yet for
an individual investor, shifting investments towards clean technologies
increases the short-term risk of their portfolio because of technology, policy
and market uncertainties. So they carry on." It is true that you can't prove
you have prevented a disaster, but you can prove concrete behaviour change. To
do this we look to active asset ownership, Principle Two of the UN Principles of
Responsible Investment. By engaging the organisation whose behaviour results in
long tail environmental, social or governance risk we move towards mutually
beneficial change. Wolfgang Engshuber, the recently elected Chair of the UNPRI
has undertaken to prioritise this amongst members during his stewardship.
So how is this working out for us? Viederman noted in May this year in an
article published by Matthew Kiernan's Inflection Point Capital Management that
the same people who make short term asset choices in their day jobs, exhibiting
"wilful blindness", often donate time and money on weekends to organisations
devoted to remedying the damage caused by these assets. His ultimately ironic
observation is that many philanthropic grant-making funds whose business is
mission-driven giving run their funds under management and choice of assets like
any other investment fund. He would know, having changed this existing practice
at the Jessie Smith Noyes Foundation while president.
So what can be done? Bringing asset managers and owners together to discuss how
they manage what could be a painful transition to bipartisanship. This is the
surprising call from the market in the lead up to the Enhanced ESG Analysis
Conference. Delegates signing up to attend this London based event have
literally been split down the middle between investors that want to look at
activism, and asset managers that want to engage holistically with the process.
Stephen Viederman, Jonathon Porritt and Wolfgang Engshuber have been leading
lights in moving the investment industry towards true sustainability and they
will be on-hand at this important event to promote the constructive dialogue
necessary to see this transition happen.
About the Event
The Enhanced ESG Analysis Conference 2011 will be held on 4-5 October 2011 at
the IET Savoy Place in London. This stunning venue will accommodate the event
and a networking cocktail party overlooking one of the most sought after views
on the Thames. Attendance prices range from GBP725.00 - 850.00 depending on
groups and early bird discounts. All details are available at
www.gtqinternational.com.
About the organiser
GTQ is a UK based Sustainable Development Strategy consultancy that creates
bespoke training and industry professional forums, such as this Conference, to
give tools to the protagonists that already exist within industries and
organisations to create sustainable development change from within.
Press contact
Kira Shevchenko, Production director, GTQ International
Phone: +44(0)1227 824632
Email: kshevchenko(at)gtqinternational.com
Mail: Kent Enterprise Hub, Canterbury, KENT CT2 7NJ
Web: www.gtqinternational.com
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Unternehmensinformation / Kurzprofil:
Datum: 01.09.2011 - 10:01 Uhr
Sprache: Deutsch
News-ID 61422
Anzahl Zeichen: 4681
contact information:
Town:
KENT
Kategorie:
Business News
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"Is Active Asset Ownership a mythical creature?"
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