The Archbishop of Canterbury, The Most Revd and Rt Hon. Justin Welby, Emma Howard Boyd, Chair of the Environment Agency are convening key asset owners at the London Stock Exchange to review the state of transition to a low carbon economy across key energy intensive sectors. Based on the latest analysis of the Transition Pathway Initiative (TPI) the Summit will consider the steps that asset owners can take individually and collectively.
The Summit will feature a keynote address from the Most Revd and Rt Hon. Justin Welby, the Archbishop of Canterbury as well as contributions from Mark Makepeace, CEO of FTSE Russell and a detailed presentation on the state of transition across key sectors from Professor Simon Dietz from the Grantham Research Institute at the London School of Economics.
There will be three facilitated dialogues amongst participants. These dialogues will seek to identify the steps and actions that Asset Owners can take.
Key themes will be:
- The state of transition in key energy intensive sectors informed by the latest TPI research from Professor Simon Dietz of 105 companies from O&G, Mining and Electricity Utilities sectors to be published at the Summit.
- Action by Asset Owners that can be taken both individually and collectively to help decarbonise their funds to a below 2-degree aligned portfolio.
- The expectations that Asset Owners should have of engagement initiatives such as CA100+ and other interventions and how these are informed by TPI. Chad Holliday, Chair of Royal Dutch Shell and Mark Cutifani, CEO of Anglo American, are also expected to discuss with asset owners the recent TPI Discussion Paper: Carbon Performance Assessment in Oil and Gas and a similar discussion paper under development by TPI for the diversified mining sector.
- Closing the policy gap between below 2 degrees and Governments Nationally Determined Contributions (NDCs).
The Summit is being held in partnership with FTSE Russell and the London School of Economics.
Commenting on the agenda, Adam Matthews, Co- Chair of the Transition Pathway Initiative and Director of Ethics & Engagement for the Church of England Pensions Board said, ”The Summit is being convened with heads and CIOs of major asset owners to review the latest TPI analysis of the state of transition in key energy intensive sectors. Informed by this analysis asset owners will then be identifying the interventions that need to be made both individually and collectively to further support the goals of the Paris Agreement.”
Mark Makepeace, CEO, FTSE Russell added. “FTSE Russell is delighted to partner with TPI, providing data and expertise on the low carbon transition to help improve issuer-investor engagement around what this transition means for different industries and companies. The green economy now matches the size the of the fossil fuel sector and while capital re-allocation is happening as climate risk is integrated into core benchmarks, there is much more that can be done. We look forward to a stimulating discussion at this event.”