Final conference line up and presentations

Macro economic drivers and response

09.00 Climate of change: companies, carbon and the bottom line
In this introduction to the day's conference Tom Delay, chief executive of The Carbon Trust, introduces the major themes of the conference highlighting how the investment chain is reacting to climate change -- from pension fund trustees through to the sell side -- and how the corporate community needs to react.
-- where are the drivers for change?
-- where is the pressure coming from?
-- are corporates reacting?
-- how will laggards be penalised?
Tom Delay, chief executive, The Carbon Trust

09.30 Climate change - the investor response (PowerPoint Presentation, 6MB)
How is the investment community responding to climate change? How are they
developing expertise in this area? How serious does the investment community
take this issue? IS CSR going mainstream? What will they expect from corporates
What has been the response to the enhanced analytics initiative?
Neil Dwane, chief investment officer, Europe RCMA company of Allianz Global Investors

10.00 Investor response - Carbon Disclosure Project 3 (PowerPoint Presentation, 500KB)
The Carbon Disclosure Project (CDP) was launched in December 2000 and is currently in its third cycle. The project now has the support of 143 institutional investors representing $20 trillion under management. This influential group are asking the corporate community - in the form of the world's largest 500 companies - to disclose financially material information regarding their green house gas emissions. The purpose being to encourage the development of a common emissions measurement methodology and to facilitate its integration into general investment analysis. In this presentation the background, methodology and influence of the CDP will be presented, as will some of the preliminary results from CDP3.
James Cameron, chair, Carbon Disclosure Project
Pierre Trevet, managing director, Innovest Strategic Value Advisors
 
10.25 -10.45 Break

10.45 Future materiality
The Asset Management Working Group at the United Nations Environment Program Finance Initiative is currently producing reports on the financial materiality of environmental, social and governance issues to equity pricing. In this presentation developments in future materiality will be outlined and the impact for corporates highlighted.
Jacob Malthouse, head of investment, United Nations Environment Programme Finance Initiative

11.00 -12.00 Value drivers update - who will be the winners, who will be the losers?
What are the specific value drivers associated with global warming and what are the likely consequences for the corporate community? Presentations followed by panel discussion
 
11.00 Emission trading schemes and shareholder value (PowerPoint Presentation, 377KB)
-- what has been the impact of ETS on company valuation?
-- who are the winners and losers?
-- what are the knock-on effects to those outside the first tranche of ETS sectors?
-- how and where are the schemes likely to develop?
-- what has been the reaction of corporates?
-- what will be the impact on shareholder value?
Steve Drummond, managing director, CO2e.com
 
11.30 Accounting and climate change
-- how will companies have to alter financial auditing, disclosure and communication?
-- what moves are there to standardize disclosure and real measurable sustainability benchmarks?
-- what accounting procedure reforms are on the cards and where should companies now be focusing in order to be able to effectively adapt to future requirements?
-- how is the accounting world adapting to the challenges of climate change?
Paul Druckman, president, Institute of Chartered Accountants in England and Wales
 
11.45 Is carbon a material issue? (PowerPoint Presentation, 200KB)
Environmental risk and climate change are SRI issues which are fast becoming mainstream. Corporates find themselves challenged how best to convey their material impacts in areas such as carbon emissions. The Department for the environment food and rural affairs (Defra) is currently reviewing its Environmental Reporting Guidelines and updating them to better reflect the current and future challenges of reporting.  As an important part of this process Defra is working with Trucost to produce a document on Environmental Key Performance Indicators.
What are these KPIs? Will the use of these KPIs become mandatory? Is there a timescale for implementation? What approach should corporates take when trying to disclose these KPIs? How will the investment community use this information?
Neil McIndoe, head of corporate services, Trucost

11.15 Shareholder value for non ETS companies (PowerPoint Presentation, 3MB)
Alan Knight, principal, European Climate Strategy Services, ICF Consulting

12.00 Q&A
 
12.15 - 13.15 The top of the chain -- gearing up for change (PowerPoint Presentation, 11.5MB)
The investment industry is beginning to get serious about the impact of climate change on the financial performance of companies. In this session we hear how pension fund trustees and actuarial investment consultants are changing their approach and processes to include the issues surrounding global warming. Presentations followed by panel discussion.Corporate environmental issues and pension fund management
- what are corporates disclosing on their environmental risks and performance
- how is the environment agency incorporating the environment into pension fund management
Howard Pearce, head of environmental finance and pension fund management, The  Environment Agency
 
Pension fund trustees and climate change (PowerPoint Presentation, 4MB)
- how is the pension fund community adapting to climate change?
- will the mandate process alter as a result of the need to take a longer term view?
- what will be the impact further down the chain?
David Russell, advisor on responsible investment, Universities Superannuation Scheme
 
A pension fund’s response to climate change and sustainability issues (PowerPoint Presentation, 800KB)
The pension fund community necessarily has to look to the long term when considering their investment portfolios. Pension funds are becoming particularly active in this area and are now making demands on the investment community and hence the corporate community. How has the TUC pension fund reacted to climate change? What criteria are they now imposing on those who want to win their mandate?
Tom Powdrill, institutional investment officer and pension fund trustee, TUC

13.00 lunch

14.00 Climate change and valuation - buy side
How are analysts including factors such as climate change, ETS, future regulation in their valuation of companies?  A group of buy side analysts describe their approach to climate change and valuation.  What factors will soon be included in valuation models, what further information and explanation will corporates be required to supply?
Emma Howard Boyd, head of SRI, Jupiter
Nick Robins, head of SRI Funds, Henderson Global Investors
Colin le Duc, head of research, Generation Investment Management
Rory Sullivan, director, investor responsibility, Insight Investment, the asset manager of HBOS plc
Ronnie Lim, head of research - SRI, Morley Fund Management
Chair: Tim Purcell, director, CO3
 
14.50 Climate change and valuation - sell side (PowerPoint Presentation, 6MB)
A group of sell side analysts describe their approach to climate change and valuation. How will be share price be affected by long-term intangible issues. How is climate change being included in to macro-economic and company valuations.  How should the corporate community be responding?
Sarah Forrest, analyst, Goldman Sachs
Dr. Hendrik Garz, head of SRI research, WestLB
Chair: David Ladipo, managing director, Linstock
 
15.40 Break
 
16.00 Climate change think tank (PowerPoint Presentation, 350KB)
-- can short termism be overcome?
-- what are the drivers and barriers to CSR becoming mainstream?
-- the corporate climate change action plan
At the last session of the conference we will produce a communiqué comprising a statement of the perceived status quo, a list of areas that are the main points of difficulty for the investment and corporate community, and finally, some suggested action points for a way forward. This document will be sent to all attendees, interested parties and form a press release after the event.
Sir John Egan, chairman, Severn Trent
Andrew Sentance, chief economist and head of environmental affairs, British Airways
Fiona Harvey, environment correspondent, FT
Sarah Forrest, oil and gas analyst, Goldman Sachs
Nick Robins, head of SRI funds, Henderson Global Investors
 
17.00 Close of day