Corporations across the world have made bold commitments around sustainable investing and business. Mark Carney, U.N. special envoy on climate action and finance, joins Washington Post Live to discuss how companies can meet their goals, the role of private-public cooperation and the stakes at the COP26 talks this November. Anne Simpson, managing investment director of CalPERS, will follow to discuss the growing investment methodology known as the Environmental, Social and Governance (ESG) movement, and how one of the world’s largest public funds is using its clout as an investor to push companies to do more to tackle the climate crisis.

Highlights

“Basically, the plumbing of the financial system has to be put in place so that financial institutions–whether they’re banks or pension funds or insurers or asset managers–have the information, the tools and the market to take climate change into account. So, in other words it’s a fundamental driver of every investment decision or lending decision.” (Washington Post Live)
“Think about: you go shopping to buy a can of beans, you expect to be able to see what’s in the tin. That’s the purpose of the label. When we’re buying investments, we simply don’t have that kind of information that’s going to help us understand risks that are ahead of us.” (Washington Post Live)
“We have a series of supply chain problems with the restart of the global economy… It underscores the need for an integrated energy transition strategy. And so part of that integrated strategy is a transition which has lower and lower carbon, fossil fuels at their heart, but still some fossil fuels… It is a reality of where we’re starting from and where we need to get to. So it does need to be integrated." (Washington Post Live)
“When I think about doing investment like a firefighter, the first advice you get from the fire service is protection. You need readiness, you need protection, you need to put resilience in place. And if you think about that… from an investment point of view, it means you look at the risks your investments are exposed to and think about how can you either mitigate and manage those risks and make sure that you’re being rewarded for taking them… If we’re running risks that aren’t being recognized, measured, understood and then mitigated, we’re in serious trouble with our fiduciary duty. We have to be able to sustainably pay pensions for two million people over the very long term and generate cash in the short-term.” (Washington Post Live)

Mark Carney

Provided by representatives with Mark Carney.

Mark Carney is currently the U.N. Special Envoy for Climate Action and Finance and Prime Minister Johnson’s Finance Adviser for COP26. Mark is a member of the Arnhold Distinguished Fellowship Program Board within Conservation International. He is also an external member of Stripe’s Board, a global technology company building economic infrastructure for the internet.

Mark was previously Governor of the Bank of England (from 2013 to 2020), and Governor of the Bank of Canada (from 2008 to 2013).

Internationally, Mark was Chair of the Financial Stability Board (from 2011 to 2018), He chaired the Global Economy Meeting and Economic Consultative Committee of the Bank for International Settlements (from 2018-2020) and was First Vice-Chair of the European Systemic Risk Board (from 2013-2020). He is Vice Chair of Brookfield Asset Management and a member of the Global Advisory Board of PIMCO, the Group of Thirty, the Foundation Board of the World Economic Forum, as well as the boards of Bloomberg Philanthropies, the Peterson Institute for International Economics and the Hoffman Institute for Global Business and Society at INSEAD.

Mark was born in Fort Smith, Northwest Territories, Canada in 1965. After growing up in Edmonton, Alberta, he obtained a bachelor degree in Economics from Harvard and masters and doctorate degrees in Economics from Oxford.

After a thirteen-year career with Goldman Sachs, Mark was appointed Deputy Governor of the Bank of Canada in 2003. In 2004, he became Senior Associate Deputy Minister of Finance. He held this position until his appointment as Governor of the Bank of Canada in February 2008.

Anne Simpson

Provided by CalPERS.

Anne is CalPERS’ managing investment director for board governance & sustainability, responsible for strategic initiatives across the total fund where she is a member of the Investment Management Committee and reports to the CEO. Anne leads CalPERS’ Sustainable Investment Strategy, which focuses on long term value creation through the effective management of three forms of capital: financial, human, and natural.

Anne currently chairs the Steering Committee and Asia Advisory Group for Climate Action 100+, a global investor alliance of over $55 trillion which CalPERS convened and co-founded. She is a member of the California Governor's Climate Risk Disclosure Advisory Group and the Advisory Council of the Official Monetary and Financial Institutions Forum (OMFIF). Anne was recently appointed to the board of Ceres and is a lecturer in Sustainable and Impact Finance at the University of California, Berkeley, Haas Business School, and a visiting fellow at Oxford University, appointed by the Chancellor.

Anne is the coauthor of “The Financial Ecosystem: The Role of Finance in Achieving Sustainability” (Palgrave MacMillan 2019) with Satyajit Bose and Dong Guo; “Fair Shares: The Future of Shareholder Power and Responsibility” with Jonathan Charkham (Oxford University Press 1999) and “The Greening of Global Investment: How the Environment, Ethics, and Politics are Reshaping Strategies” (The Economist Publications 1991). She is an editorial board member of the journal Directors & Boards.

She sits on the strategy group for the UN Secretary General’s Global Investors for Sustainable Development, and steering committee for the UN Net Zero Asset Owner Alliance. Anne is a member of the Leadership Council at the Robert F. Kennedy Center for Justice and Human Rights.

Anne was recognized in 2019 by TIME Magazine as one of 15 women globally leading the fight on climate change and as one of the 100 Most Influential Women in US Finance by Barron’s in 2020. She is cited by the National Association of Corporate Directors as one of the 100 most influential leaders in the boardroom.

In roles prior to joining CalPERS, Anne served as the first executive director of the International Corporate Governance Network, and as the head of the World Bank-OECD Global Corporate Governance Forum. Previously she was Joint Managing Director of Pensions & Investment Research Consultants Ltd. Anne was formerly senior faculty fellow and lecturer at the Yale School of Management, where she taught with Ira Millstein on ‘The Role of the Corporation in Society’.

Anne read Philosophy, Politics and Economics at St Hilda’s College, Oxford University, where she was awarded a BA and MA, plus a Slater Fellowship at Wellesley College, Massachusetts.

Content from KPMG

The following content is produced and paid for by a Washington Post Live event sponsor. The Washington Post newsroom is not involved in the production of this content.

(Washington Post Live)

Unlocking Value Through KPMG IMPACT’s Solution For A Sustainable Future

Companies worldwide are increasingly integrating the environmental, social, and governance (ESG) imperative into their broader business strategy to create a more sustainable future for their organizations and communities. Join Paul Knopp, U.S. Chair and Chief Executive Officer of KPMG, as he shares the transformative ESG agenda and holistic solutions offered through KPMG IMPACT to help companies seize this century’s opportunity to enhance stakeholder trust, mitigate risk and unlock new value.

Paul Knopp, U.S. Chair and Chief Executive Officer, KPMG U.S.

Paul Knopp is Chair and Chief Executive Officer at KPMG LLP – one of the world’s leading professional services firms, providing innovative business solutions and audit, tax, and advisory services to many of the world’s largest and most prestigious organizations. He also serves as Chair of the Americas region and is a member of both KPMG’s Global Board and Executive Committee. Leading more than 33,000 partners and professionals across the United States, Paul is further strengthening KPMG’s inclusive and values-driven culture. He has extensive experience serving large, multinational clients in a wide variety of complex industries and is recognized for his commitment to excellence and quality and for leading KPMG teams with ethics and integrity. Prior to becoming Chair and CEO, Paul’s career as an audit partner focused on serving leading global companies in the manufacturing, life sciences, transportation, professional services, and technology industries. Additionally, he lends his time and expertise to many civic and charitable organizations. He is a governing board member of the Center for Audit Quality as well as a board member of Catalyst, Partnership for New York City, and the U.S.-India Business Council. He also is a trustee of the U.S. Council for International Business. Paul previously served as a Director and Vice Chairman for the American Cancer Society Chicago Downtown Division’s Board of Directors. Paul holds B.B.A. and M.B.A degrees from the University of Texas at Austin; is a licensed CPA in New York and Texas; and is a member of the American Institute of Certified Public Accountants.

Moderated by Jeanne Meserve

Jeanne Meserve is a homeland security expert and analyst, moderator, and award-winning journalist. She is currently a Security Expert for Canada’s CTV News and co-host of the SpyTalk podcast. While a correspondent and anchor at CNN and ABC Jeanne earned her profession’s highest honors, including two Emmys and an Edward R. Murrow Award. She also contributed to two CNN Peabody Awards. Jeanne is a member of the Homeland Security Experts Group and the Transatlantic Commission on Election Integrity, and serves on the board of the non-profit Space Foundation. She moderates discussions on topics ranging from technology and security, to medicine and the environment. Her clients include AtlanticLIVE, Washington Post Live, the Munich Security Conference, the Halifax International Security Forum, and the global conferences of the International Women’s Forum. At CNN Meserve created the homeland security beat, covering intelligence, law enforcement, cyber, aviation, border and port security. She anchored worldwide coverage of the Yitzhak Rabin assassination and the death of Princess Diana, and was the first to report on the devastating flooding in New Orleans after Hurricane Katrina. She was a key member of the CNN political team during the 1996 and 2000 elections. While at ABC News she covered the State Department and reported from the Middle East, Asia and Europe.