Oxford Sustainable Finance Group

⏯️ Watch again - Prof Caroline Flammer, ‘ESG vs System-level Investing’   The winner of the 2023 Insight Investment – University of Oxford Prize for Greening Finance in the Outstanding Research category was Professor Caroline Flammer, Professor of International and Public Affairs and of Climate at Columbia University. As part of the Prize, Prof. Flammer gave her public lecture entitled ‘ESG vs System-level Investing’ in Oxford on 15th May: https://lnkd.in/etUJMB9G In Professor Flammer’s 2023 prize citation the judging panel highlighted her rigorous articles published in Management Science, the Academy of Management Journal, the Strategic Management Journal, and the Journal of Financial Economics that have had wide impact on #sustainableinvestment and #ESG, including papers about the impact of corporate green bonds, #CSR and financial performance, and shareholder responses to #sustainability. Learn more about the Insight Investment – University of Oxford Prize for Greening Finance: https://lnkd.in/dE53kBcp #GreenFinance #GreeningFinance Smith School of Enterprise and the Environment - University of Oxford Columbia | SIPA

It was a pleasure to host Santander for a fruitful workshop on the Phase 2 of our Net Zero Transition Plans project at the Oxford Sustainable Finance Group. We discussed the following upcoming outputs from this phase, covering credibility assessment and transition finance: • A framework for assessing external dependencies (EDS) in corporate transition plans • An assessment of alignment between corporate and national transition plans (NTP) • An assessment of transition plan credibility in the power and steel sectors using asset-level data (ALD) • An empirical evaluation of the impact of transition plan disclosure & credibility on cost of capital (CoC) in the power sector • A stochastic framework for pricing sustainability-linked bonds (SLB) in presence of transition plans • A framework for transition finance metrics (TFM) Many thanks to the teams: Oxford - Adrien Rose, David Kampmann, Luis R., Xiaoyan Zhou; Santander - Steffen Kram, Etienne Butruille, Christopher Vernon, Christopher Vernon, Charlie Liechti, Ignacio Coloma; and externals - Romain Poivet, Nicolas Pickard-Garcia, Jessica Wood, Vincent Allilaire, Gregorio Giorgi, Josephine Richardson, Rachel Hawker, Jacob Kastl, Abhinav Jindal. Special thanks to the organizing team - Philip Stevens, Samia M., Johney Fatimaharan, Donglin Zheng. #netzero #transitionplan #credibility #assetleveldata #externaldependencies #costofcapital #sustainabilitylinkedbonds #slb #transitionfinance

This week, the IEEFA team in Europe held its first-ever Sustainable Finance conference in London, part of London Climate Action Week, where we discussed evolving investment standards and frameworks to reduce transition risk and protect long-term value. 🔍 "Sustainable fixed-income labels: Credibility and impact" - Gireesh Shrimali, Josephine Richardson, Emma Harvey-Smith and Kevin Leung discussed: 👉 How to address the transparency gaps in fixed income 👉 The role of green, sustainability-linked bonds and loans as a financing tool for facilitating transition 👉 The importance of assessing transition plans in navigating climate-related credit risks 🔍 "Universal ownership: Decarbonisation in a hostile engagement environment" - Paul Chandler, Brynn O'Brien, Tom Gosling and Alasdair Docherty discussed: 👉 Why institutional investors alone cannot be expected to drive the transition 👉 Why collaboration with sovereigns, policy-makers and regulators will be crucial to facilitate wider decarbonisation goals 👉 The case for bolder allocation policies that explicitly set decarbonisation as a primary objective A big thank you to all our speakers and attendees, and to our event venue partner Instinctif Partners for helping make our event a success. See you next time! #SustainableFinance2024 #LCAW2024 Arjun Flora, Ana Maria Jaller-Makarewicz, Jonathan Bruegel, Andrew Reid, Jules Scully, Jamie Stewart, Sofia Russi, Yvette Dore, Oxford Sustainable Finance Group, Anthropocene Fixed Income Institute, Green Finance Institute, Principles for Responsible Investment, Australasian Centre for Corporate Responsibility (ACCR) , London Business School, European Corporate Governance Institute (ECGI).

Our Stewardship and Engagement Leadership Programme welcomed #stewardship professionals from around the world to Oxford for a unique three-day experience.   Designed with ShareAction, this executive education programme focused on developing their skills, insights and networks relevant to driving effective stewardship and engagement across the financial system.   Many thanks to all participants, and speakers including Catherine Howarth OBE, Alex Money, Kevin Chuah, Louise Rouse, Rob Bauer, Sacha Sadan, Sophie Robinson-Tillett and Simon Rawson.   Smith School of Enterprise and the Environment - University of Oxford #ExecutiveEducation

It was a pleasure to help direct and deliver this new programme; a collaboration between the Oxford Sustainable Finance Group and ShareAction. A very engaged cohort. Stewardship and Engagement is hard. To quote Benjamin Graham, "In the short run, the market is a voting machine, but in the long run, it is a weighing machine." I hope that one of the take-aways from the content delivered by our excellent lecturers is that engagement goes well beyond getting a resolution through at the next meeting - it's about our agency in shaping the trajectory of corporate stewardship over the longer term. Catherine Howarth OBE Ben Caldecott

A big thank you to all the participants, presenters and panellists at our inaugural Stewardship and Engagement Leadership Programme! We delivered the three-day executive education programme in collaboration with our partners Oxford Sustainable Finance Group. The course focused on building the skills, insights and networks needed for stewardship professionals to carry out their vital role in safeguarding financial returns whilst generating environmental and social outcomes that serve the interests of their clients and beneficiaries. 🌎🧑🤝🧑   We were thrilled by the energy, enthusiasm and insightful contributions all participants brought to the experience. We hope you've gone away inspired by the power of what strong collaborative stewardship can achieve, excited to implement new approaches and buoyed by new friendships! If you're a stewardship professional looking for rewarding and stretching opportunities to develop your responsible investment capabilities, keep an eye on this channel for future opportunities. 👀 University of Oxford Catherine Howarth OBE Alex Money Kevin Chuah Louise Rouse Rob Bauer Sacha Sadan Sophie Robinson-Tillett Simon Rawson

Article 6 in focus: what has changed after Bonn 2024? The Bonn UN Climate Change Conference 2024 was a crucial opportunity for negotiators to discuss Article 6 of the Paris Agreement – the highly contested rulebook that governs carbon markets. Dr Injy Johnstone from Oxford Sustainable Finance Group and Oxford Net Zero explains the issues on the table for Article 6 at Bonn and what has changed after the negotiations, including important bottlenecks and breakthroughs.  Link in comment! #climate #offsetting #carbonmarkets #vcm #Bonn2024 #SB60 #BonnClimateConference #Baku #JuneClimateMeetings #article6

Congratulations to Mary Schapiro on being recognized by Smith School of Enterprise and the Environment - University of Oxford for her longtime leadership on climate-related disclosures and climate finance to help transition the world to a net-zero economy. We’re lucky to have her championing our climate finance initiatives at Bloomberg & Bloomberg Philanthropies. 

It was a pleasure to direct the Climate Financial Risk Program during the last three days. Many thanks to our speakers: Ulrich Volz, Rupert Stuart-Smith, Matt Scott, Moritz Baer, David Wilkinson, Dr Chris Cormack, Mark Bernhofen, Matt Burke, Jakub Červenka, Christophe Christiaen, Dr. Nicole Röttmer; and to the attendees. #climaterisk #transitionrisk #physicalrisk #legalrisk #valueatrisk #creditrisk #scenarios #tools