Climate Change: Correcting The World’s Biggest Market Failure

It is critical that governments apply a meaningful carbon price. But if we are to move money at the pace and scale required to deal with climate risk, governments also need to reconsider the entire architecture of markets. This means focussing a climate lens on prudential regulation, listing rules, accounting standards, investment standards, valuation conventions, governance codes, and stewardship codes – as well as building on new interpretations of legal fiduciary duty, such as those set forth by the UK Government. In this webinar, Steve will outline how we might collectively make use of the combination of COP26 and the UK-hosted G7 in 2021 to move this important work forward. Speaker:   Steve Waygood chairs the ESG Senior Leadership Team at Aviva Investors, and is a member of the CIO Investment Committee. Steve founded Aviva Investors’ Sustainable Finance Centre for Excellence. This Centre seeks to transform capital markets so that they support long term sustainable development. He also co-founded the Corporate Human Rights Benchmark, the World Benchmarking Alliance, the UN Sustainable Stock Exchange Initiative and the Corporate Sustainability Reporting Coalition. He was also part of the group that helped write the Principles for Responsible Investment.  Steve was appointed to the European Commission High-Level Expert Group on Sustainable Finance, and the UK Green Finance Taskforce, and is also a member of the Financial Stability Board Taskforce on Climate Related Financial Disclosure (TCFD).  Steve started his career at the World Wide Fund for Nature in 1995, where he chaired the business and industry core group and oversaw the ethical investment policy. He also served on the board of the UK Sustainable Investment & Finance association (UKSIF) from 2003 to 2010, serving as its Chairman from 2006. Interested in watching our webinars live, or taking part in the production of our research? Join our community at: https://bit.ly/3sXPpb5