Advocacy Talking Points 9 April 2020
Climate Change Integration in the Investment Process
Climate change presents a range of physical and transition risks for business and the financial industry. Investment professionals need education and tools to analyse and mitigate these risks.
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About the Authors
Mary Leung, CFA, is the head, standards and advocacy, Asia Pacific, at CFA Institute. She is responsible for the development, maintenance, and promotion of capital markets policy perspectives in the APAC region. She also oversees the promotion and development of CFA Institute professional standards in the region. Mary has over 20 years of experience in the global financial industry, having worked in corporate finance, wealth management advisory, and fund management. Previously, she was with Coutts & Co, where she was director of Business Development and Management for North Asia. Prior to that she was executive director at UBS AG, where she led the Corporate Advisory Group in Hong Kong. With experience in both the buy- and sell-sides, Mary has a strong understanding of the drivers and dynamics of different investor groups, including institutional investors, corporates, family offices, asset owners, and high-net-worth individuals. Mary graduated from Peterhouse, Cambridge with a degree in Engineering. She is a CFA charterholder and speaks English, Putonghua, and Cantonese.
Matthew Orsagh, CFA, CIPM, is a senior policy analyst for the CFA Centre for Financial Market Integrity, where he serves as spokesperson for the CFA Centre, identifies and develops new corporate disclosure project ideas, and promulgates Capital Markets Policy Group corporate disclosure positions, policies, and standards. Previously, Mr. Orsagh served as a research analyst at Governance Metrics International. He has appeared on CNN's In the Money and National Public Radio's All Things Considered. Mr. Orsagh holds a BA in communications and English from the University of Notre Dame and an MBA in finance from Georgia State University.
Kanol Pal is Senior Advisor on Responsible Investments for BNP Paribas Wealth Management Asia. He has been appointed to this role in 2017 to define the Sustainable and Responsible Investments offer and to set up the SRI product platform across all asset classes for high net worth individuals. Kanol has more than 30 years experience in the financial industry having worked as Bank Treasury Manager, Head of Fixed Income & Derivatives Sales and Head of Investment Services in Singapore and Europe. He has also volunteered for various leadership positions at CFA Singapore and CFA Institute. Kanol is a graduate of ESSEC business school and a CFA charterholder. He has a post graduate certificate in Business Sustainability Management from the Cambridge Institute for Sustainability Leadership.
Mr. Shah leads the ESG practice at GMO and is responsible for building GMO’s ESG capability across investment product areas and asset classes. He was a member of the CFA Institute’s inaugural global ESG working group (FY20) which aimed to develop an industry standard for the classification and disclosure of ESG investment products and has subsequently been selected as a member of its ESG verification subcommittee (FY21). Prior to joining GMO in 2017, he led a global team of analysts focused on ESG ratings and thematic research at Sustainalytics. Previously, he was an ESG Ratings associate at MSCI and, as a senior climate change consultant with Ernst & Young, has helped register a wide variety of projects with the UNFCCC under the Clean Development Mechanism defined in the Kyoto Protocol. During 2015 and 2016, Mr. Shah was voted #1 “research firm analyst who understands the challenges & opportunities facing companies” in the global Independent Research in Responsible Investment (IRRI) Survey. He earned his Bachelor of Engineering in Electronics from University of Mumbai and holds a post-graduate diploma in management - e business (finance) from We School, Mumbai. Mr. Shah holds the Fundamentals of Sustainability Accounting (FSA) credential issued by SASB, Sustainability and Climate Risk (SCR) credential by GARP, and the CFA charter.