Marisa Drew

At the #EnergiseLandscapeUK conference. With Ian Caterall (Howden) moderating and Adele Hutchings (National Grid) and Jennifer Beckwith (CBI (Confederation of British Industry) ) discuss finance for UK energy Themes of discussion: - Supply and demand incentives and regulatory frameworks that help, for example with offtake agreements - Incoming UK government’s ambition is significantly higher than the previous but we need the detail fleshed out - Policy and regulatory reform will accelerate under new government but detail needed for GB energy, UK Infrastructure Bank and the National Wealth Fund - Progress goes best when linkage between private finance, public finance and wider strategy - otherwise individual projects may get funding but it doesn’t necessarily “ladder up” for scale

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Climate Group has launched a Global To-Do list with seven actions the world can take by next #ClimateWeekNYC to move the dial on climate. ⭕️Support workers to power down coal ⭕️Unleash renewables ⭕️Ban relining of coal-based steel furnaces ⭕️Get serious on methane ⭕️Stop ignoring energy efficiency ⭕️Buy clean ⭕️Tax oil and gas companies to fund the transition

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A bit late with this, but reposting more important commentary from Ben Groom, read with interest! #biodiversity #esg #naturalcapital #assetmanagement

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We’re looking forward to sharing our 16 year experience of investing for a cleaner future through #GlobalEquities with Pensions for Purpose members on Tuesday 22nd October. Please use the below link if you would like to join the discussion. #ImpactInvesting #EnergyTransition #ClimateGoals #NetZeroInvesting Pascal Dudle, Vontobel

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I’m looking forward to speaking at #RIEurope2024 tomorrow, sharing thoughts on how investors can make a start on nature, based on our own experience at Scottish Widows, including: 1. Understand exposure to nature related dependencies and impacts in your investment portfolio 2. Develop engagement priorities based on the outcomes of that analysis 3. Explore nature related investment opportunities across different asset classes (suitable for pension funds…) 4. Assess what meaningful nature related data is available from data providers and asset managers - and what you are going to do with it (action beyond reporting) 5. Look at tangible sub-themes such as water, waste and deforestation which may be easier to start with than a complex biodiversity footprint

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Voting at shareholder meetings is part of being an active owner. In Schroders latest blog we share how we will vote on Nestlé’s reporting on food and beverages according to their healthfulness. Learn more below. #ActiveOwnership #Sustainability

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interesting read and great initiative on measuring avoided emissions and sustainable finance.

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Really interesting in-depth piece in the FT this week, looking at why major corporate brands are either failing to meet their recently set #climate targets or moving away from these targets all together. As with everything to do with the #netzero transition, there is no single answer to what is going on. There is a degree to which some corporates failed to carefully think about their implementation plans to deliver their targets when these were first set. However, there are also broader public policy reasons which explain why it has been more difficult for some of these businesses to meet their targets. Lack of planning reforms which are slowing major clean energy projects, the absence of adequate revenue certainty mechanisms for many new low carbon technologies, and a lack of demand side measures to grow consumer appetite for clean technologies, have all contributed to difficult market conditions for companies to invest to meet their targets. In a major year of elections around the world, this is an important time for policy makers to take note. You can read more here: https://lnkd.in/gwsZdb_N

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🌍🌱 #Biodiversity is increasingly in the spotlight for investors—its essential connection to climate change and supply chain resilience makes it a key factor across sectors. With $44 trillion of global GDP dependent on nature, and 🐝pollination in the UK alone valued at £690 million, the economic stakes are high. My colleague, Benjamin S., has just published the first paper in a series focused on biodiversity. Please take a look here (https://lnkd.in/e5EFNqCz) and stay tuned for more insights to come. A cartoon from the pandemic comes to mind, emphasizing the magnitude of the biodiversity challenge we face. Now is the time for action to reverse impacts and mitigate biodiversity loss. #biodiversity #sustainability #esginvesting #responsibleinvestment

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Just coming back from #NewYorkClimateWeek, I look forward to continuing the discussion on the challenges and opportunities of the transition to a low carbon sustainable future at the round table organised by S&P Global and 100 Women In Finance in Paris next week. I will be joined by Samira Boussem, CFA , Sébastien Mandron and David Vaillant to compare the implications for investors and companies of the US and the European approach. #climatetransition #sustainablefinance

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Saw this quote today: “Addressing climate risk requires a decarbonisation strategy that goes beyond merely considering emissions within the portfolio in isolation - it is crucial to also address the real-world economy’s transition. A thoughtful climate strategy should be complemented by active engagement and voting activities that support that transition. A pure passive investment approach on climate may prove inadequate and expose portfolios to inherent risks and biases, as shown by our latest research findings.” What a load of total bullshit. We run both index and active strategies. All our Article 9 strategies are index sustainable/impact strategies. Here’s why this assertion is a lie: 1) Engagement and Voting have nothing to do with the investment management approach; they’re about seeing yourself as a company owner AND a shareholder. It’s about stewardship, not whether you’re active or passive. 2) The “Active” in Active Engagement is a farce. The term has been hijacked by the active mutual fund industry. All engagement is active; there are just different degrees of active. What they’re doing is implying that there’s such a thing as passive engagement. Don’t buy it. It’s PURE marketing. 3) Our analysis shows that, on average, it’s active mutual funds that are constructed for portfolio decarbonisation score optimisation (i.e., gaming the system to rank higher on MSCI or Morningstar). Why? Because they can, and the temptation is too high. If I create a so-called “dumb” index, on the other hand, I’ll always be restricted by my index rebalance schedule. 4) Further, our research shows that it’s the exception, not the norm, that mutual fund managers focus beyond “available” ESG metrics to forward-looking impacts in water, soil, ecosystems, and biodiversity. Indeed, Rize ETF found success as a business PRECISELY because clients told us we’re actually “doing the work” and “charging less.” 5) The claim that “a pure passive approach may expose portfolios to inherent risks and biases” is laughable. The exact opposite is true. Our research shows that active mutual fund strategies exhibit the most extreme biases because no two people’s sustainability is the same. Take the food transition as an example. One well-known active manager is currently pushing a degrowth agenda through his portfolio, believing – we believe falsely – that smallholder farms and artisanal brands are the path to food utopia. Meanwhile, another (who shall remain unnamed) has adopted a purely pragmatic ecomodernist approach, balancing sustainability objectives with the practicalities of feeding a global population. For instance, synthetic fertilisers, gene editing, and crop science are critical to food security but may come with negative environmental externalities and ethical considerations. In a climate adaptation scenario, however, we won’t survive without them, and this underscores the trade-off between an environmentalist vs. ecomodernist approach to the food transition.

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Over the moon to start #ClimateWeek with the publication of S&P Global Ratings’ first #ClimateTransitionAssessment leveraging the benchmark #ShadesOfGreen scale, and providing sustainable investors with the essential insights they need on progress made by an entity on its energy transition plan and likelihood of completing it as planned. #SPGlobalProud #TransitionToALowCarbonFuture

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Why we need carbon credits and why we need carbon ratings...in under 2 minutes ⏳ Carbon projects are complex. Carbon markets are complex. Making sense of billions of data points, hundreds of millions of credits, thousands of projects, dozens of sub-sectors is complex. Watch our Lead Analytical Officer Ronan Carr explain how carbon ratings help companies understand project quality and drive climate action, all in under 2 minutes, at Viva Technology last month⬇️ #CarbonRatings #CarbonCredits #ClimateAction #VivaTech

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Biodiversity loss poses economic and human risks. At CFA UK's May 22 conference on 'Driving Real Change' Federated Hermes Limited's Robert Hall will talk about the investment fundamentals of #naturalcapital and provide examples of how the firm invests in #nature-based solutions and nature-positive businesses. Register via https://lnkd.in/ewVAhtHR or https://bit.ly/3Umcqov. Notes Hall 'In order for this sector to scale, it needs to be made familiar'. He believes that shouldn't be too difficult as this is really another form of real asset investing, where 'the built asset isn't a building or a road, it's a natural habitat'. The novelty is its categorisation as an institutional asset class. Join us to hear Rob in a session moderated by fellow biodiversity investing expert Milliman's Nick Spencer.

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Join Marina Severinovsky, Head of Sustainability, North America, Alex Monk, Fund Manager, Global Resource Equities, and James Samworth, Partner and co-head of Schroders Greencoat’s Energy Transition team, as they discuss the impact of the 3D Reset on the energy transition. Discover how decarbonization, deglobalization, and demographic changes are shaping the investment landscape and the energy sector. Topics covered include thoughts on the decarbonization of the global economy and how the long-term trends of deglobalization and changing demographics are influencing the energy transition. Watch the full video here: https://okt.to/YS78Hl #3DReset #EnergyTransition

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Climate tech, impact and energy transition are some of the most active fund thematic I'm seeing amongst asset managers. Whilst impact funds attracted just $23.8 billion of total private capital raised (led by a couple of mega funds), there are some major drivers that asset managers are now not only actively exploring this space, but launching their own funds: 🌎 Pension funds, corporates, insurances and endowments increasingly have sustainability, green and ESG criteria they have to meet in their portfolio; 🌎Private capital allocation to sustainable strategies is increasing and becoming crucial not only to portfolio creation, but performance; 🌎ESG and sustainability are regarded as major drivers of value creation and exit value- up to 70% in most cases- it's a serious risk mitigation and diversification strategy. 🌎EU and US regulatory frameworks are now playing into capital allocation, with 56% of investors having refused a GP based on ESG grounds 🌎In public markets, sustainable funds have beaten fund returns by a median return of 10.9%. With climate, impact and energy now covering well-trodden sectors including infrastructure- this is starting to actively translate to PE/VC 🌎Some strategies such as ODDO BHF plan to allocate to funds and co-investments- giving a potential exposure to over 2000 companies significantly improving the potential upside.

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