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PRI in Person Conference Summary

JANA is a signatory to the United Nations-backed Principles of Responsible Investment (PRI), and Tim Conly attended the PRI In Person Conference in Paris in September.  The theme of the conference was ‘responsible investment in the age of transition’ and was the largest responsible investment conference in the world with around 1800 delegates attending.  
 

30th October 2019 / 5 mins read
Tim Conly
Senior Consultant, Head of Responsible Investment
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JANA is a signatory to the United Nations-backed Principles of Responsible Investment (PRI), and Tim Conly attended the PRI In Person Conference in Paris in September.  The theme of the conference was ‘responsible investment in the age of transition’ and was the largest responsible investment conference in the world with around 1800 delegates attending.  

The key topics covered included:

  • Sustainable Development Goals; 
  • Climate change risk management and opportunities; 
  • Taskforce on Climate-related Financial Disclosures; 
  • Global Policy Development; 
  • The roles of Central Banks; and
  • Active Ownership.

This was a great opportunity for JANA to interact with a number of our attending clients, as well as share experiences and to learn from other asset owners and investment managers.

This conference reinforced the message that Australian asset owners are grappling with the same challenges that global investors are, and that Responsible Investing is an evolution not a destination.  Sustainable Development Goals and Climate Change are incredibly complex investment topics, and the thinking continues to evolve.  Equally, there was recognition that asset owners are only one of the stakeholders, with government and regulatory action required to address these global environmental and societal issues.

As outlined at the JANA Conference, JANA has spent a considerable amount of time grappling with the top down approach to climate change, and how this feeds into areas such as strategic asset allocation, stress testing and regulatory reporting.  We have enhanced our process with the knowledge that the PRI was to release the Inevitable Policy Response (IPR).  

The IPR looks at the ‘Forecast Policy Scenario’ (FPS) that the PRI, Vivid Economics and Energy Transition Advisors are building which lays out the policies that are likely to be implemented up to 2050 to address climate change and meet the Paris climate goals.  The IPR has then sought to quantify the impact of this response on the real economy and financial markets.  The IPR was launched at the PRI in Person Conference, with the underlying data to be released in coming months.  JANA believes that these findings will be complementary to the current International Energy Agency-based scenarios (IEA NPS AND IEA SPS in the below chart, and we look forward to integrating this into our climate change model currently under development.  

Graph 1
We look forward to further engaging with you on our climate change scenario modelling in the coming months.