ARX Series 2 February 2021
Economic and Market Impacts of Climate Change
Webinar
A presentation of the CFA Institute report “Climate Change Analysis in the Investment Process” is followed by a discussion of economic and market implications of climate change, carbon pricing, and recent developments in carbon markets.
Webinar Presentation
Download PDFOverview
Climate change presents a significant challenge to global markets and economies, posing additional costs and risks to all parts of society. A hotter planet means a higher number of droughts, famines, extreme weather events, and more property damage and dislocation of humanity than any of us have seen in our lifetimes. Against this backdrop, the financial industry plays a pivotal role in allocating capital towards more sustainable activities. This is particularly relevant in Asia Pacific, where a significant part of the population and assets are located in areas prone to floods and extreme weather events.
In a recent report “Climate Change Analysis in the Investment Process” published by CFA Institute, we examined how climate risks can be incorporated into financial analysis and portfolio management. The investment profession needs to incorporate these new realities into its analysis in order to help efficiently allocate capital in a world where the effects of climate change are increasing. Issuers need to provide timely, relevant, consistent data on climate change in order to provide investors with decision useful information. In this webinar, we will present the findings of our research report and discuss:
- the economic and market implications of climate change,
- carbon pricing and recent developments in carbon markets, and
- the role of regulators / stock exchanges in promoting disclosures by issuers and in fostering greater transparency.
Speakers:
- Mary Leung, CFA, head of advocacy for Asia-Pacific, CFA Institute
- Matt Orsagh, CFA, senior director of capital markets policy, CFA Institute
- Grace Hui, managing director, head of green and sustainable finance, HKEX
- Ken Hokugo, director of hedge fund investments, Pension Fund Association
Watch the Webinar
Duration: 59 min.
Recorded: 2 February 2021.
Presenters
Matt Orsagh, CFA, CIPM, is a former director of capital markets policy at CFA Institute, where he focused on corporate governance issues. He was named one of the 2008 “Rising Stars of Corporate Governance” by the Millstein Center for Corporate Governance and Performance at the Yale School of Management.
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.
Grace is a strategic visionary with more than twenty years of international and domestic banking and finance industry experience. From 2013–2021, she worked at Hong Kong Exchanges and Clearing Limited (HKEX), where she was the Chief Operating Officer of its Listing Division responsible for listing policies, structured products and debt securities, listing enforcement and accounting affairs. In early 2020, Grace founded HKEX’s green and sustainable finance department and subsequently launched HKEX’s STAGE, the first-of-its kind new sustainable finance information platform in Asia. She is currently an honorary adviser and a member of the Inspection Committee of the Financial Reporting Council, and a member of both the Regulatory Oversight Board and the Sustainability Committee of The Hong Kong Institute of Certified Public Accountants.
Ken Hokugo is the Co-Head of Hedge Fund Investments at Pension Fund Association (“PFA”) overseeing USD5bn hedge fund portfolio which is approximately 5% of PFA’s total AUM of approximately USD100bn equivalent. Prior to joining PFA, he worked at the Sumitomo Mitsui Banking Corporation’s (“SMBC” or “Sumitomo”) Tokyo Head Office, responsible for designing and implementing the strategy for its global asset management business. Until 2010, he was at Sumitomo’s New York Office for 15 years from 1995. From 2005 to 2010, he was CFO of the Americas Division overseeing all investment – PE, HF, Structured Credit, ILS, etc. - and portfolio management as well as ALM. Americas Division had more than 1500 head counts. From 1998 to 2005, as the Head of Financial Products and Special Projects Group of the Division, he was responsible for prop investment portfolio as well as assigned to negotiate and close the special projects by the Head Office Management including the ones directly from its CEO. He is also the head of Corporate Governance at PFA and speaks at various conferences and seminars domestic and abroad on Japan’s corporate governance status.
Mr. Hokugo received his Bachelor’s Degree in Economics from Keio University and MBA from Columbia Business School.