Investor Summit on Climate Risk 3

Posted by Brad Johnson Thu, 14 Feb 2008 15:53:00 GMT

The 2008 Investor Summit on Climate Risk will bring together more than 450 institutional investors, Wall Street leaders and CEOs from around the world to consider the scale and urgency of climate change risks, as well as the economic opportunities of a global transition to a clean energy future.

Purpose

The purpose of the Summit is to provide a high-level forum for state treasurers, leading institutional investors, and financial services firms from around the world to consider the scale and urgency of climate change risks, as well as the economic opportunities of a global transition to a clean energy future.

Objectives

Based on a vision of hope and opportunity, the Summit will focus on how investors can advance solutions to climate change, with a particular emphasis on the benefits of energy efficiency. The Summit aims to help investors:
  • Examine recent scientific findings on climate risk and technological solutions
  • Assess potential capital flows into energy efficiency and clean technologies
  • Learn how treasurers, institutional investors and financial services firms worldwide are factoring climate risk into their policies and strategies
  • Consider prudent steps investors can take to address climate risk and opportunities

Background

The 2008 Summit builds on the groundbreaking success of the first two UN Investor Summits on November 21, 2003, and May 10, 2005. Hundreds of institutional investors and asset managers from around the world, representing trillions of dollars in assets, attended the previous Summits. The information they shared raised profound concerns about investor exposure to climate risk, the future security of investment assets, and the fiduciary duty to take prudent steps to address climate risk on behalf of shareholders and beneficiaries. Information on previous Summits can be found at the Investor Network on Climate Risk website.

Climate Risk – and Opportunity

Climate change poses regulatory, legal, physical and competitive risks for companies. In the two years since the 2005 Summit there has been a growing recognition that climate change presents serious risks, not only for businesses and investments, but also for the global economy. Left unattended, risks from climate change will worsen over time, harming company assets and global investment portfolios. Leading economists, investors, and business leaders have stated recently that the costs of action to reduce greenhouse gas emissions are both affordable and significantly lower than the costs of inaction. Where there are risks, there are also opportunities, and the business opportunities posed by addressing climate change are significant. With the proper government policies and market conditions, low-carbon technologies that are available today could be more broadly deployed, and significant reductions in emissions could be achieved over the next few decades—all while creating vast new economic opportunities and new jobs.

Agenda

7:30 am – Registration and Coffee (enter at UN Visitors Entrance, 1st Avenue @ 46th Street)

9:00 am – Welcoming Remarks (Trusteeship Council Chamber, 2nd Floor)
  • Amir A. Dossal, Executive Director, United Nations Fund for International Partnerships
  • Ban Ki-moon, Secretary-General, United Nations
  • Timothy E. Wirth, President, United Nations Foundation
9:15 am – Climate Change: Scientific Findings, Technological Solutions
  • John P. Holdren, Professor, Harvard University & Director, Woods Hole Research Center – presentation and discussion
10:00 am – The Case for Investing in Energy Productivity
  • Diana Farrell, Director, McKinsey Global Institute – presentation 10:20 am – Discussion
  • Mindy S. Lubber, President, Ceres & Director, Investor Network on Climate Risk (moderator)
10:45 am – Panel and Discussion: Unleashing the Business Potential for Clean Energy
  • Timothy E. Wirth, President, United Nations Foundation (moderator)
  • Nobuo Tanaka, Executive Director, International Energy Agency
  • Peter A. Darbee, Chairman, CEO, & President, PG&E Corporation
  • Vinod Khosla, Founding CEO, Sun Microsystems & Founder, Khosla Ventures
12:00 pm – Panel and Discussion: Factoring Climate Change into Institutional Investment Strategies
  • John Chiang, Controller, State of California (moderator)
  • Donald MacDonald, Trustee Director, BT Pension Scheme
  • Denise L. Nappier, Treasurer, State of Connecticut
  • Russell Read, Chief Investment Officer, California Public Employees’ Retirement System (CalPERS)
  • Alex Sink, Chief Financial Officer, State of Florida

1:00 pm – Luncheon (Delegates Dining Room, 4th Floor; closed to press)

  • Luncheon Welcome: Richard H. Murray, Managing Director & Chief Claims Strategist, Swiss Re
  • UN Welcome: Dr. Srgjan Kerim, President, 62nd session of the United Nations General Assembly
  • Introduction: Jeff Skoll, Founder & Chairman, Skoll Foundation & Participant Productions
  • Featured Speaker: Al Gore, 2007 Nobel Peace Prize winner; Former Vice President of the United States; Chairman, Generation Investment Management