Advocacy Talking Points 23 November 2023
Managing Climate-Related Risks and Opportunities in Equity Analysis and Investment
Climate Change poses a number of risks to the financial system through impacts to infrastructure, supply chains, and society as a whole. To address these risks, and emerging opportunities, analysts have had to incorporate these considerations into their evaluation processes through the development of a number of key tools. While these risks must be addressed, care must be taken to avoid greenwashing, which damages investor trust and confidence and undermines our broader sustainability goals through delays or misappropriations. In view of this, the Securities Exchange Commission and CFA Institute are co-hosted a webinar in which expert speakers shared their experiences, provided insight into the difficulties of addressing climate change in equity analysis and investment management, global best practices, and discussed how we can improve disclosure and governance to ensure our sustainability goals can be met.
- Mrs. Pornanong Budsaratragoon, CFA, secretary-general, Thai SEC
- Andres Vinelli, chief economist, CFA Institute
- Daniel Ng, CFA, investment manager, asian equities, Abrdn
- Michael Salvatico, head of asia, pacific, middle east & africa esg solutions, S&P Global Sustainable 1
- Sisi Liu, senior esg integration analyst, HSBC Global Asset Management (Hong Kong) Ltd
- Sylvain Augoyard, sustainability manager, APAC, Abrdn
- Matthew Chan, apac head of sustainability and esg engagement, JP Morgan
- Maria Tsolaki, manger partnership and stakeholder engagement, CDP
- David von Eiff, PhD, director, institutional partnerships, CFA Institute
- Risa Siriwat, CFA, board member, CFA Society Thailand
Mrs. Pornanong Budsaratragoon obtained a BBA in Quantitative Analysis from Chulalongkorn University, an MBA in Management of Information System from University of Dallas, USA, and
a DBA in Finance from Chulalongkorn University. She is also a CFA® charterholder, CFA Institute.
Her previous posts at the Securities and Exchange Commission include Board Member of Capital Market Supervisory Board, Chair of the Sub-committee on Consideration of Regulations on Issuance and Offering of Debt Securities, Derivatives and Structured Products, Chair of the Sub-committee on Consideration of Regulations on Supervision of Business and Market Intermediaries and member of the Sub-committee on Consideration of Regulations on Asset Management.
Prior to this appointment, she held various positions, including Head of the Banking and Finance Department and Chair of the Committee of Master of Science Program in Corporate Governance, Faculty of Commerce and Accountancy, Chulalongkorn University, Chair of the Audit Committee, member of the Committee of the Agricultural Futures Exchange of Thailand, expert member of the Working Group on Knowledge Requirements and Investment Consultant Curriculum, member of the Working Group on Examination and Assessment Standards, the Stock Exchange of Thailand, member of the Institute Council Thai-Nichi Institute of Technology, the Office of the Higher Education Commission, advisor to the Investment Sub-committee, the National Savings Fund.
Andres leads the CFA Institute research function, which is foundational to developing the organization’s advocacy positions, standards, and codes. As a member of the Research, Advocacy and Standards Leadership Team, he works to augment cross-departmental and cross-functional original research. Andres also guides economic market analysis and the creation of products to inform and support policy positions and the development of industry standards.
Andres currently serves as a member of the FINRA Investor Issues Committee.
Daniel Ng is an Investment Manager on the Asian equities team. Daniel is primarily involved in engaging companies on Environment, Social, and Governance (ESG) issues, integrating ESG analysis into the investment process and helping the regional teams (Asia Pacific including Japan) better assess ESG related risks. Daniel is part of the Asia Responsible Investing pod, which oversees the day-to-day running of the Asian SDG Equity Fund, and is a member of the Global Emerging Markets Responsible Investing pod. Daniel is active in the Asia ESG scene, and has appeared in several industry conferences to discuss the future of ESG in the region. Daniel joined the company on the graduate scheme in 2017. Daniel graduated with a BSc in Economics from Singapore Management University and is a CFA Charterholder. CFA® and Chartered Financial Analyst® are trademarks owned by the CFA Institute.
Sisi Liu is a senior ESG Integration analyst in the Responsible Investment team within HSBC Asset Management in Hong Kong, responsible for enhancing ESG integration across asset classes in Asia and co-leading climate-related data and research for the global platform. She has worked in the financial industry since 2014, spanning various roles related to ESG research. Prior to joining the industry, Sisi worked in education and NGOs to raise awareness in sustainability.
Michael has spent the past decade providing sustainable solutions to investors, banks, corporates, regulators, governments, and academics. Before joining S&P Global Sustainable1, he led the Asia- Pacific ESG business development team at Trucost, also part of S&P Global. Michael regularly presents at events and is involved in ESG-focused initiatives, including the ASFI Technical Working Group and PRI Fixed Income Working Group. He holds a master’s degree in applied finance and investment from the Securities Institute of Australia and a bachelor’s degree in commerce from the University of New South Wales.
David von Eiff joined CFA Institute in 2021 as a sustainability specialist. David brings has a combined 13 years of experience in environmental compliance, research, and sustainability. He obtained his Doctor of Philosophy at the City University of Hong Kong and his Master of Science in Environmental Economics and Public Policy at the Rensselaer Polytechnic Institute in New York. His main research areas address the economic, sustainability and climate change issues associated with water supply management decisions. He previously spent 8 years regulatory specialist in Environmental, Health & Safety Management Systems, having clients across a wide range of industries to improve their environmental programs and identified methods by which they could make their operations more sustainable, including process redesign, water and energy conservation, and developing environmental management systems.
Sylvain Augoyard is a Sustainability Manager, APAC, within the Investments Sustainability Group. Based in Singapore, he is notably responsible for progressing the work of the abrdn Sustainability Institute, APAC, in close coordination with internal and external stakeholders. He notably contributes to the development of training programs, to build capacity of both abrdn staff and clients on sustainable investing. He also contributes to firm-wide research on natural capital, as part of the Sustainability Insights team. He joined the company in February 2022 from the World Wide Fund for Nature (WWF) in Singapore where he engaged and worked with financial sector stakeholders across Asia-Pacific to strengthen their sustainability policies and practices, with a focus on central banks and financial supervisors. Prior to WWF, Sylvain worked with BNP Paribas Corporate and Institutional Banking in Paris, focusing on setting up and implementing the bank’s environment and social risk management and advisory framework across business lines and geographies. Sylvain holds a MSc in Engineering from the ENSTA ParisTech (Paris, France) and studied in the UNEP-Tongji Institute of Environment for Sustainable Development (Shanghai, China).
Matthew is based in Hong Kong and joined J. P. Morgan in 2022, in a regional role advancing sustainability in the bank’s financing activities and throughout its operations across Asia Pacific. Prior to joining J. P. Morgan, Matthew leads the Asia Securities Industry and Financial Markets Association (ASIFMA)’s Public and Sustainable Finance division, leading advocacy and market development efforts on behalf of 160+ member firms and market infrastructure providers operating across Asia Pacific’s capital markets.
Matt’s experience spans financial services, international commerce, technology, strategy, corporate governance, sustainability and environmental engineering. Since 2007, he has worked in a variety of business, industry relations and strategy roles at the Depository Trust & Clearing Corporation (DTCC) and Thomson Reuters. He has also held corporate planning and strategy roles at PepsiCo International and Cadbury Schweppes, and business and policy advisor roles within the Australian Commonwealth Government.
Matt has Master of Commerce (Strategic Value Management), Bachelor of Arts (Policial Science) and Bachelor of Engineering (Environmental – Hons) degrees. He became a Graduate member of the Australian Institute of Company Directors (GAICD) in 2018.
Maria Tsolaki is a Partnerships & Stakeholder Engagement Manager at CDP, where she leads the organisation’s partnerships in Southeast Asia and Oceania. In her role, she engages with corporates and key stakeholders to support CDP’s activities to enhance impactful change and drive environmental disclosure. Before joining CDP, Maria worked at the Centre for Corporate Governance and Financial Policy, School of Business, Hong Kong Baptist University, where she focused on corporate governance and ESG reporting. She carries more than 10 years of professional experience in financial crime investigations as she has worked for the Greek Ministry of Finance, and she is a Certified Anti-Monay Laundering Specialist (CAMS).
Maria holds a Bachelor in Accounting & Finance from the University of Macedonia, Greece, an MBA from the Hellenic Open University and a Certificate in ESG Investing from CFA Institute. She is also the co-founder of the Greek Chamber of Commerce in Hong Kong and an alternate Board Director at the European Chamber of Commerce Hong Kong.
Risa Siriwat, CFA, stands as a trailblazer in Thailand's financial sector, breaking barriers as the country's first transwoman fund manager. With over a decade of experience, Risa quietly makes significant contributions to the finance industry. Beyond her professional achievements, Risa is a devoted advocate for gender diversity and sustainability, effectively using her relatable and compassionate approach. Through her impactful initiatives such as Trans for Career Thailand campaign and grassroots movement, she strives to foster understanding and acceptance within society and businesses.
Risa's commitment to driving positive change within the financial community is reflected in her role as a fixed-income fund manager at Kiatnakin Phatra Asset Management. Her interests extend to the sustainability movement, where she actively promotes ESG investments. Through her influential efforts, she strives for sustainability, diversity and inclusion, creating a lasting impact on the industry. Risa’s dedication and passion make her an unequivocal force for change, reshaping finance and paving the way for a more sustainable and inclusive future.