Agenda

Agenda

Agenda

09:0009:05

Chairman welcome remarks

09:05 - 09:10

09:0509:45

Keynote presentation: Attacking the financial impact of climate change
Standards, data and analytics

09:05 - 09:45

  • The need for standard ways of representing climate risks and the factors that drive them
  • What data will my organization need to tackle climate change risk?
  • How to generate consistent, objective scenarios when stress testing for climate change
Ron Dembo

Founder and CEO

Riskthinking.ai

10:0010:45

Roundtable discussion
via zoom

10:00 - 10:45

What is the feasibility of a “green recovery” and what role could central banks play within their mandate / area of responsibility?

Audun Gronn

Special advisor to the governor

Central Bank of Norway

10:4511:15

Morning break
AI powered networking available on Grip platform

10:45 - 11:15

This is an opportunity to live-chat and to share your thoughts and views with like-minded professionals. Our AI powered meeting system will help you connect with attendees that have the same objectives and interests.

11:1512:00

Panel discussion: how should markets prepare their portfolios for transition risk?

11:15 - 12:00

  • Urgency of pricing carbon emissions: What could coordinated policy action look like?
  • Examples of platforms facilitating cross-sectoral and cross-jurisdictional projects and initiatives 
  • Key challenges for 2021 and beyond
Marianne Nessén

Senior advisor to the executive board

Sveriges Riksbank

Marianne Nessén, Senior Advisor to the Executive Board of Sveriges Riksbank 

Dr. Nessén is Senior Advisor to the Executive Board of Sveriges Riksbank, the central bank of Sweden, after having been head of the Monetary Policy Department for five years. Prior to that she held various positions at the Riksbank, including in the Research Department. She was the Riksbank representative in the Markets Committee at the BIS during 2007-2014. She is the Riksbank’s representative in the Network for Greening the Financial System (NGFS). 

Dr. Nessén holds a PhD from the Stockholm School of Economics, where she is an associate professor. She has published research on monetary policy in leading academic journals. 

Arnab Das

Global market strategist & global thought leadership member

Invesco

Arnab Das is Global Market Strategist in the EMEA region, based in London, and a member of Invesco’s Global Thought Leadership team. He helps develop and communicate analysis and insight on the global economy and financial markets across asset classes for clients, media, governments and central banks. He works with Invesco’s investment teams across disciplines and regions and is a member of Invesco’s Global Investor Forum Advisory Council with a focus on global macro and emerging markets. Arnab’s research interests span economic policy, performance and reform; and economic and financial history.

Arnab joined Invesco in 2015 as Head of EM macro research for Invesco Fixed Income. He began his career in finance in 1992, and has served as Co-head of Economic Research & Strategy at Roubini Global Economics; Co-head of Global Economics & Strategy, Head of Global FX Research, and Head of EM Economics & Strategy at Dresdner Kleinwort; and Head of EEMEA Research at JP Morgan. He has also been a private consultant in global and emerging markets, as well as consulting with Trusted Sources, a specialist EM research boutique.

Arnab’s studies were in macroeconomics, economic history and international political economy. He received an AB from Princeton University in 1986 and completed his postgraduate and doctoral work at the London School of Economics in 1987-1992.

12:0013:00

Networking break

11:45 - 12:15

13:1514:00

Panel discussion: Establishing a framework to identify climate related risks across portfolios

13:15 - 14:00

  • How to conduct sector and company research
  • Choosing specific risk and opportunities
  • Engaging with all stakeholders and getting approval from senior management
  • Analysis and fostering best practices for reporting
Diego Cifuentes

Director of the international investments

Central Bank of Colombia

Diego Cifuentes has worked for 20 years in the Foreign Reserves Department at the Central Bank of Colombia.  For the last three years He has been Director of International Investments, responsible for leading the group that manages Colombia’s foreign reserves and sovereign funds.  Other positions Diego has held in the bank are Head of Portfolio Management Desk, Portfolio Manager and Investment Analyst. Diego has a BS in Industrial Engineering from Universidad de los Andes in Colombia, an MBA from Columbia University and is a CFA charter holder. The group led by Diego not only implements the policy set by the Board of Directors for reserve portfolios, it helps to design the investment policy statement, investment process, asset allocation, risk management and portfolio implementation.

 

Chris Faint

Head of division

Bank of England

Chris has responsibility for developing and implementing the Bank's strategic approach to climate change.  He has been particularly focused on the PRA’s supervisory approach to addressing the financial risks arising from climate change and the development of the Bank's climate stress test. 

Beyond climate, Chris has responsibility for the supervision of the small mutual sector in the UK and the delivery of supervisory strategic projects across the UK banking sector. 

Victor Mendez-Barreira

International Reserves Correspondent

Central Banking Publications

14:1515:00

Presentation – Economics of the energy transition

10:00 - 10:45

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  • Why is renewable energy inherently deflationary?
  • Why are fossil fuels inherently inflationary?
  • Why marginal demand is more relevant for financial markets than system-level demand
Mark Lewis

Global head of sustainability research

BNP Paribas Asset Management

Mark is Global Head of Sustainability Research at BNPP AM, having joined in January 2019. He leads the team of ESG analysts covering all sectors and asset classes, setting the research agenda with a focus on climate research and risk analysis.

Previously, he was Managing Director and Head of Research at the Carbon Tracker Initiative (April-December 2018), Managing Director and Head of European Utilities Research at Barclays (2015-18), Chief Energy Economist at Kepler Cheuvreux (2014-15), and Managing Director and Global Head of Energy Research at Deutsche Bank (2005-13).

Mark holds a BA (First-Class Hons) in Modern Languages and Economics from Sheffield University, an MPhil from Cambridge University, and an MA from London University.

09:0009:05

Chairman welcome remarks

09:05 - 09:10

09:0509:45

Keynote presentation: Is climate change a defining issue for financial stability?

09:00 - 09:45

  • Is climate change still a priority for central banks? What impact does Covid-19 have on climate risk management?
  • What can central banks learn from Covid-19 for the future climate crisis?
Morgan Després

Head of NGFS secretariat

Banque de France

10:0010:45

Presentation: overview of advancements in climate change risk management for central banks

10:00 - 10:45

  • From managing risks to coping with uncertainties
  • Managing what we cannot measure
  • Being prepared for potential climate change surprises
  • Climate change stress testing for central banks
Dirk Broeders

Senior risk manager – financial markets division

The Netherlands Bank

11:0011:45

Panel discussion: What are the new approaches to strategic asset allocation?

11:00 - 11:45

  • How to use climate hedging
  • Looking beyond volatility
  • How can you transform your equity and fixed income portfolios to maintain return?
Anna Hyrkse

Principal responsible investment specialist

Bank of Finland

Johanna Lasker

Head of Central Banks and Official Institutions

BNP Paribas Asset Management

Johanna Lasker is the Head of Central Banks and Official Institutions for BNP Paribas Asset Management. She is responsible for managing and growing our official institutions business globally, which includes developing business, servicing clients and ensuring we are meeting the needs of this client segment. She originally joined FFTW, a predecessor of BNP Paribas Asset Management, in 1997. She then left the firm in 2000 and rejoined in 2004. She is based in New York.

In addition to working for BNP Paribas Asset Management and FFTW, Johanna worked in the Corporate Finance division at UBS for two years, where she was an Associate Director in the Consumer Products Group in New York. She later transferred to the Global Industrial Group in Japan where she lived for a year.

Johanna has 20 years of investment experience. She earned an MBA in Finance and International Business from New York University, and a BA in East Asian Studies from Stanford University.

Marco Ruiz

RAMP engagement manager

World Bank

Liliana Jeronimo

Head of markets analysis division

Bank of Portugal

11:4512:15

Networking break

11:45 - 12:15

12:1513:00

Roundtable discussion
on zoom

12:15 - 13:00

What is the best way to review how the financial investments can take account of climate-related issues? What is the future direction of investment strategies to incorporate climate change?

Johanna Lasker

Head of Central Banks and Official Institutions

BNP Paribas Asset Management

Johanna Lasker is the Head of Central Banks and Official Institutions for BNP Paribas Asset Management. She is responsible for managing and growing our official institutions business globally, which includes developing business, servicing clients and ensuring we are meeting the needs of this client segment. She originally joined FFTW, a predecessor of BNP Paribas Asset Management, in 1997. She then left the firm in 2000 and rejoined in 2004. She is based in New York.

In addition to working for BNP Paribas Asset Management and FFTW, Johanna worked in the Corporate Finance division at UBS for two years, where she was an Associate Director in the Consumer Products Group in New York. She later transferred to the Global Industrial Group in Japan where she lived for a year.

Johanna has 20 years of investment experience. She earned an MBA in Finance and International Business from New York University, and a BA in East Asian Studies from Stanford University.

Liliana Jeronimo

Head of markets analysis division

Bank of Portugal

13:1514:00

Panel discussion: Stress testing climate risk

13:15 - 14:00

  • What should scenario analysis look like for creating future trends?
  • What should a climate risk stress test look like?
  • Regulatory and supervisory applications of the “Green supporting factor”
  • Carbon stress-test as a new tool for bridging climate scenarios and financial risk assessment
  • What lessons can be taken from the reshaping of industry and applied to climate risk scenarios?
Maria Nieto

Advisor in the Directorate of Financial Stability, Regulation and Resolution

Bank of Spain

María J. Nieto is Associate to the Director General, Banking Regulation at Bank of Spain where she has developed different responsibilities in the realm of financial stability and its regulatory framework including crisis management since December 2000. Ms Nieto has been a contributor to the Basel Committee of Banking Supervisors as well as the European Commission, BIS, ECB and OECD. She is author of several articles on banking and regulatory issues that have been published by prestigious journals and member of the Editorial Boards of the Journal of Banking Regulation and the Journal of Financial Regulation and Compliance. She has cooperated as consultant with the IMF and the Federal Reserve Bank of Atlanta and has worked at the ECB, Council of Economic Advisors to the Spanish President, the EBRD and the IMF. Ms Nieto earned a PhD cum laude from the Universidad Complutense de Madrid and a MBA from the University of California Los Angeles.

Thomas Allen

Sustainable finance division - directorate for financial stability

Bank of France

Irene Monasterolo

Assistant professor of climate economics and finance

Vienna University of Economics and Business

Irene Monasterolo is an Assistant Professor of Climate Economics and Finance at the Vienna University of Economics and Business. She is visiting research fellow at Boston University and at the International Institute for Advanced Systems Analysis (IIASA).

Irene’s research is contributing to understand under which conditions finance could be a driver or a barrier to the achievement of the climate targets in both high income and developing countries. She has co-developed the climate stress-test of the financial system to introduce climate risk in investors’ risk management, and the EIRIN macroeconomic model to analyse the implications of climate policies (fiscal, monetary, prudential) on green investments, financial stability and inequality. Currently, her research is supporting development finance institutions in the analysis of compound COVID-19, climate change and public finance risk.

Her research has been published on leading academic journals, such as Nature Climate Change and Climatic Change, as well as on non-academic journals (e.g. Euractiv, the Financial Times, Il Sole 24 ore). She has co-authored the G20’s T-20 chapter on Sustainable Finance, the climate financial risk chapter of the Financial Stability Review of the European Insurance and Occupational Pension Authority (EIOPA) and of the Austrian National Bank (OeNB).

She has long experience in working at the research-policy interface on sustainable and inclusive development, and climate finance. She has been involved in capacity building and trainings to central banks (e.g. European Central Bank), financial regulators, development finance institutions (World Bank, European Investment Bank, Inter-American Development Bank), NGOs (e.g. CERES, Positive Money) and the European Commission (EC).

Irene is co-founder and senior partner at Climate Finance Alpha.

14:1515:00

Presentation - Green bonds and carbon emissions: exploring the case for a rating system at the firm level

14:15 - 15:00

  • Have projects financed by green bonds resulted in comparatively low or falling carbon emissions at the firm level?
  • What are the desirable features of a rating system that could provide a useful signal to investors and encourage firms to reduce their carbon footprint?
  • What does a simple rating system based on firm carbon intensity that could complement existing green bond labels look like?
Torsten Ehlers

Senior economist – monetary and economic department

Bank for International Settlements

15:0015:05

Chairperson closing remarks

15:00 - 15:15