Sustainable Finance Seminar

Transcription

1 Sustainable Finance Seminar Thursday 13 March, 2014 Smith School of Enterprise and the Environment University of Oxford A J Herbertson Room Oxford University Centre for the Environment South Park Road OX1 3QY

2 Summary More than five years after the financial crisis was triggered by Lehman s demise the question still remains whether the financial industry needs to change structurally. Governments, investors, but also society in general are more than ever stipulating that financial institutions should adopt more sustainable business approaches in order to establish a sustainable financial sector. But what does sustainable finance actually mean? Does it stand for treating people and the environment exactly the way you would like to be treated? Or does sustainability in the financial sector go beyond this? Do banks finance sustainable business and if so, why? How do banks engage with their clients on the topic of sustainable finance? The objective of this seminar is to give some insights into those and other related questions. It aims to foster the discussion about what sustainability in the financial industry actually means. To do so, Alexander Hoare (C. Hoare & Co.) and Anders Bouvin (Handelsbanken UK) will give a practical insight into sustainable banking. Professor Colin Mayer (Saïd Business School) sets the scene and provides the academic perspective on financing sustainable business. Julie Hudson (UBS) moderates the concluding panel discussion.

3 Agenda 16:00 Welcome Professor Gordon Clark Director, Smith School of Enterprise and the Environment 16:05 Financing Sustainable Business: The Evidence Professor Colin Mayer Peter Moores Professor of Management, Saïd Business School 16:30 Q&A 16:40 Sustainability at C. Hoare & Co. Partners Alexander Hoare Partner at C. Hoare & Co. 17:05 Q&A 17:15 Sustainability: it ain't what you do, it's the way you do it Anders Bouvin CEO Handelsbanken UK and Group Executive Vice President 17:40 Q&A 17:50 Panel Discussion Moderator: Julie Hudson Head of Global SRI & Sustainability at UBS SSEE Business Fellow 18:30 Closing Remarks Professor Gordon Clark Director, Smith School of Enterprise and the Environment

4 About the Speakers Anders Bouvin Anders Bouvin graduated from the University of Lund with a degree in Economics and he spent two years studying at the University of Sorbonne, Reims and the University of Montpellier, France. After finishing his studies, Anders started his career at Handelsbanken in 1985, taking his first role in the Central International Department in Stockholm. He then moved on to a role as Corporate Executive/Dealer at Handelsbanken Luxembourg a year later, In 1994, Anders was appointed an Area Manager in one of the six Regional Banks in Sweden. Five years later, he was appointed General Manager of the New York branch. After three years in the US, Anders returned to the Nordics where he was appointed Executive Vice President and Head of Handelsbanken Regional Bank Denmark, a role he held for five years. In 2007, Anders was tasked with setting up the UK s second Regional Bank, based in Manchester and covering the north of Great Britain. This was formally achieved by 1 January Two years later, Anders became CEO of Handelsbanken UK the bank s fastest growing home market and which now has a total of four regional banks and 170 branches across the nation. Professor Gordon Clark Professor Gordon L Clark DSc (Oxon) FBA is the Director of the Smith School of Enterprise and the Environment with cross- appointments in the Saïd Business School and the School of Geography and the Environment at Oxford University. He holds a Professorial Fellowship at St Edmund Hall, Oxford. He is as well, Sir Louis Matheson Distinguished Visiting Professor at Monash University's Faculty of Business and Economics (Melbourne) and a Visiting Professor at Stanford University. Previous academic appointments have been at Harvard's Kennedy School of Government, Harvard Law School (Senior Research Associate), the University of Chicago, Carnegie Mellon's Heinz School and Monash University. Other honours include being Andrew Mellon Fellow at the US National Academy of Sciences and Visiting Scholar Deutscher Akademischer Austausch Dienst at the University of Marburg. Alexander Hoare Alexander graduated from the University of Edinburgh with a B.Comm with honours in marketing and is the first of the eleventh generation of C. Hoare & Co. Partners. Prior to joining the bank he worked as a Marketing Consultant for PA Consulting Group until joining the bank in He was Chief Executive of the bank from 2001 until Formerly he was a trustee of Training for Life and Trinity Hospice, a Non- Executive Director of Jupiter Green Investment Trust, President of the Groupement Européen de Banques, and a member of the Westminster Abbey Finance and Advisory Council. He is now active in the field of social and impact investing.

5 Julie Hudson Julie Hudson, CFA, is a Managing Director of UBS, where she heads up (having also founded) the Global SRI & Sustainability team, established by UBS within its Equity Research division in The team launched major UBS publications on SRI in 2005, water in 2006, climate change in 2007, corporate governance in 2008, and ESG (environmental social and governance) integration in The arguments in support of Responsible Investing are presented in a monograph entitled The Social Responsibility of the Investment Profession (Research Foundation of CFA Institute, August 2006). A further publication co- authored with UBS economist Paul Donovan is: From Red to Green? How the Financial Credit Crunch Could bankrupt the Environment (Earthscan, 2011). During her seventeen year career with UBS, Julie has been involved in a number of diversity- related initiatives including All Bar None, UBS s women s business network, as well as representing UBS on the board of the City Women s Club, a network for senior City women sponsored by UBS. She is also currently a member- nominated director of the UBS Pension Trustee Company. Julie holds a BA in Modern Languages from Oxford University, a London University (SOAS) MSc. in Financial Economics, and a City University MSc. in Economic Regulation and Competition. At the Smith School Julie heads the Smith School Humanities Programme in partnership with the Humanities Division. Professor Colin Mayer Colin Mayer is the Peter Moores Professor of Management Studies at Saïd Business School, and the former Peter Moores Dean of the School between 2006 and He is an expert on all aspects of corporate finance, governance and taxation, and the regulation of financial institutions. He has consulted for numerous large firms and for governments, regulators and international agencies around the world. He teaches the elective course on Mergers, Acquisitions and Restructurings on the MBA and the Masters in Financial Economics, and the Principles of Financial Regulation on the Masters in Law and Finance. Colin studied as an undergraduate at Oriel College, Oxford, and received his DPhil from Oxford University in He was a Harkness Fellow at Harvard University, a Houblon- Norman Fellow at the Bank of England, the first Leo Goldschmidt Visiting Professor of Corporate Governance at the Solvay Business School, Université de Bruxelles, and has had visiting positions at Columbia, MIT and Stanford universities. In 1994, Colin became the first professor at Saïd Business School, and was appointed the Peter Moores Dean of the Business School between 2006 and He was the first Director of the Oxford Financial Research Centre at the University of Oxford between 1998 and 2005.