Charlie Bright’s Post

As we reach the half-way point of 2024, Ric Deverell, Macquarie's Chief Economist and Head of Net Zero, discusses shifting the narrative surrounding the global economy from fragility to resilience. Watch now: https://macq.co/6047gw72X

We will not get to Net Zero if people think they are going to be poorer. This is what the 'Just Transition' is fundamentally all about - putting people at the centre of the changes the world needs to make. Success is going to need speed and scale and also empower communities as part of the solution rather than destroying them. (The deprivation caused by closing coal mines in the UK in the 80s remains today - we must learn from that as the thought of that on a much larger scale is unimaginable). The good news - renewable energy jobs now exceed fossil fuel jobs. We have an opportunity to end fuel poverty and stimulate growth in new ways. Finance knows there is an opportunity if it is part of the solution. The numbers speak for themselves. Great to be at the launch of the Just Transition Finance Lab launch last night at the The London School of Economics and Political Science (LSE). Very much liking the ethos of the lab - focused on experimentation and accelerating practical solutions, looking at: 👉 Financial instruments 👉 Metrics 👉 Real world case studies 👉 Policy reform. World Benchmarking Alliance look forward to contributing to these with the findings from our Financial System Benchmark this year, which includes the Just Transition in our assessments of 400 global financial institutions. This is complemented by our Just Transition Benchmark assessing high-emitting sectors. We appreciate the acknowledgement in the launch report, and well done on this kick-off launch report and the vision on the work ahead. There is an executive summary or the full report so it is accessible for all: 🤓 https://lnkd.in/emc7xVtP Thank you Elizabeth Robinson Nick Robins, Brendan Curran, Stephan Chambers, Sharan Burrow, Suranjali Tandon and Satwat Rehman and the rest of the LSE team for a great launch event. #justtransition #climatefinance #transitionfinance #lse #sdgs #leavenoonebehind  

At the Sustainable Investment Forum (SIF) – #ClimateWeekNYC 2024 this morning, I had the opportunity to join an insightful panel discussion on "What do leading investors in North America need from policymakers on net zero?" Key takeaways:  *The 2024 Global Investor Statement – backed by over 500 investors - includes detailed policy asks emphasizing a whole-of-government approach.  *Policy certainty is crucial—we must defend provisions like the IRA.  *Consistent, comparable climate risk data hinges on standardized disclosure rules.  *Mandatory climate transition plans aligned with global frameworks will ensure clear pathways to decarbonization for real economy companies and large financial institutions.  *Increased financing for Emerging Markets and Developing Economies (EMDEs) is essential to support global climate transition efforts A huge thank you to my fellow panelists: #Bertrandmillot, Head of Sustainability, CDPQ; #CarineSmithIhenacho, Chief Governance and Compliance Officer, Norges Bank; #PedroGuazo, Representative of the Secretary-General United Nations Joint Staff Pension Fund (UNJSPF); and #PeterCashion, Managing Investment Director, Sustainable Investments, CalPERS.  I am excited to continue these important conversations!  #netzeroinvesting #SINVNA #climateaction #2024globalinvestorstatement #IRA 

How mainstream economics is sacrificing our children. or, Why the discount rate to calculate #future #revenues on today's #investments needs to be zero, or even negative: UN-IPCC (inter-governmental panel on climate change) advisor William #Nordhaus argues that the #discountRate that determines the "efficient balance between the cost of emissions reductions today and the benefit of reduced climate damage in the future” should be “the return on capital”…which measures net yield on investment in capital, education and technology ..observable in the marketplace.." This translates into: the wealth, health and security of future generations is regarded less worthy than our own. By British economist Ann Pettifor P. S. See Nordhaus' keynote speach to ECB 2021 monetary policy conference in comments section.

This week's news round-up. 🌍♻️📰 🏙️ The London Climate Resilience Review has released its interim report, indicating that London and the UK are "underprepared" for major climate impacts, including severe flooding, extreme heat, and wildfires. Key findings underscore the need to allocate additional funding and empower councils for effective climate adaptation. The absence of a clearly defined strategic vision from the national government was identified as a significant obstacle. 🌐 Global commodities trading company Trafigura announces a new agreement with 1PointFive, the Direct Air Capture-focused subsidiary of Occidental, for the advance purchase of carbon credits of at least 50,000 tons of carbon dioxide removal credits by 2030. ☀️ Barclays has announced the creation of a new Energy Transition Group within its Corporate and Investment Bank. This group will play a key role in advising clients in the exploration of energy transition opportunities and providing support for clients on their journey towards achieving net-zero goals. This move aligns with Barclays' commitment to facilitate $1 trillion of sustainable and transition financing by the end of 2030. 🌍 PwC's 27th Annual Global CEO Survey reveals that more than two-thirds of CEOs believe that they need to upskill or reskill their workforce to ensure competence in the transition to a net-zero economy. --- #carboncredits #sustainablebanking #climatechangeinitiatives

The CFA Institute's latest research prompts a rethink of entrenched systems and behaviours hindering climate risk assessment. With a focus on governance, systems thinking, and creative approaches, the report aims to reshape industry practices for a net-zero future. Explore the strategies and insights shared by Margaret Franklin, CFA Franklin and industry leaders on redefining investment approaches. https://lnkd.in/gGmPdyqW #netzero #cfainstitute

One possibility for mobilizing the money we need on a truly planetary scale for “transitioning away from fossil fuels in a just orderly and equitable manner” per COP28, is to upgrade the incumbent sociologies of social choosing for where and how the money can, should and will be made to flow through Private Equity using an ownership for extraction through fees and gain on sale (“value creation”) investment thesis to an innovative new sociology of social choosing through Social Equity using a stewardship of change through negotiated agreement on equity paybacks from prioritized cash flows investment thesis. The very particular skills of the charterholder will be in great demand as this new stewardship of change investment thesis takes hold and becomes popular.

🌍 Join Us for Critical Climate Transition Conversations 🌍 📅 Date: June 11 📍 Location: London We're excited to gather investment and finance leaders to discuss the opportunities and risks in the climate transition. Don’t miss out on this chance to be part of impactful conversations! 🔗 Register to join us in person: Register Now https://lnkd.in/eD-sBgBA Topics We’ll Explore: - Leaders and Laggards in Energy - The Growing Role of Private Assets in Financing Decarbonization - Leveraging AI for Climate Finance Featured Speakers (including myself) Rhian-Mari Thomas OBE – CEO, Green Finance Institute: Keynote on primary capital deployment Anne Kleppe – Managing Director & Partner, BCG Budha Bhattacharya – Head of Systematic Research, Lombard Odier Franck Rizzoli – Managing Director, Head of ESG Financing Advisory, BNP Paribas Dr. Michael Viehs of Sustainable Investing, Partners Capital Vikram Raju, CFA Director, Head of Climate Investing, Morgan Stanley Jenn-Hui Tan – Chief Sustainability Officer, Fidelity International David Oelker, Head of ESG Investment EMEA, BlackRock Caroline Haas – Managing Director, Head of Climate and ESG Capital Markets, NatWest Be a part of the discussion and help shape the future of sustainable finance! #ClimateFinance #SustainableInvesting #Decarbonization #AIinFinance #GreenFinance #ESGInvesting #ClimateTransition SFI Swiss Finance Institute University of Zurich - Department of Finance

𝗔𝗿𝗲 𝘄𝗲 𝗶𝗻 𝗮 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗿𝗲𝗰𝗲𝘀𝘀𝗶𝗼𝗻? In #sustainable investing, the speed of the move from 'hot to not' has been brutal. But is there light at the end of the tunnel? We think so. Yes, some funds appear to be abandoning sustainability. Yes, some probably overreached on their aims. But consider this. Performance is cyclical, and our data suggests the recent returns gap between sustainable and traditional funds has closed again. Sentiment might wane, but real world reporting requirements are only getting stronger, particularly as Australia and their trading partners roll out disclosures like the #ISSB. But ultimately, sentiment is cyclical. The highs and lows of hype cycles are standard fare as new developments emerge. Transitions are rarely straightforward, and successes are liable to setbacks before reaching a steady state. Yes, the current climate presents difficulties but accepting that we need to ride the cycle is necessary to develop solutions and meet the challenges of the future effectively.  To take a deeper dive, read on... https://lnkd.in/gZn7iiC6 #responsibleinvesting #financialadvice #investing #sustainablefinance #zenithinsights #assetmanagers #managedfunds #fundsmanagement #sustainableinvestment #esginvesting #ethicalinvesting Zenith Investment Partners Chant West FE fundinfo

Great contribution from Nadia Humphreys at the #PRIinPerson session on investor reporting. Following insightful comments from Clarity AI's Lorenzo Saa on the disjunction between reporting and investment decision useful data, Nadia drilled down into what Bloomberg is seeing in reporting by global financial institutions. According to her disclosures are advancing, but it is early. Two-thirds of FIs might have a climate policy, but only 9% are linking exec comp to that policy, only half are reporting on Scope 1 and 2 emissions and only 1/3 have some kind of Net Zero target. Unsurprisingly, Canada's financial institutions outperform, with 90% having a policy, 22% linking comp to policy and 50% having a net zero commitment. Nevertheless, even the outperforming Canadians have some weak spots with just 35% seeming to use scenario analysis extensively and only 16% having a transition plan.