Doing Well By Doing Good. How sustainable business and finance can support economic resilience

While the global economy as a whole has taken a hit during the pandemic, businesses with strong environmental and social credentials have been shown to be more resilient in times of economic crisis.

In early 2020, as the US stock market declined, firms with high Environmental, Social and Governance (ESG) ratings outperformed those with low ESG ratings by 7.2 per cent. At the same time investors poured a record $12.2 billion into ESG funds and, according to the World Economic Forum, by the midpoint of the year there were 534 index funds focused on sustainability, overseeing a combined $250 billion in Europe and the United States.

Research has also shown that the COVID-19 pandemic has made us more conscious of wanting to invest ethically.

81% of respondents to a recent survey said the pandemic has made choosing sustainable investments more important and another that 39% of Britons think ethical investments are the key to addressing the climate issues to avoid future pandemics.

This discussion will explore the links between our environment and economy, the impact that sustainable investing can have, and how businesses can meet the triple bottom line of people, planet and profit.

As always we want you to get involved. Submit your questions to our panellists during the event or get them in first by emailing in advance.

Chair

Professor Gail Whiteman, Professor of Sustainable Business, University of Exeter

Professor Whiteman is the Professor-in-Residence at the World Business Council for Sustainable Development and was actively involved in building science-based targets including those for a future low-carbon economy. Along with Dr Jeremy Wilkinson, she created Arctic Basecamp, a science solutions communication platform with a mission to “speak science to power” to encourage bold climate action. This unique project has hosted four high-level events at the World Economic Forum in Davos (2017-20).

Panellists

Professor David Bruce Allen, Pro-Vice Chancellor and Executive Dean, Professor of Strategy and Business Ethics

Professor David Bruce Allen joined the University of Exeter Business School in September 2016, having previously been the Executive Dean of the Faculty of Arts and Social Sciences at the University of Surrey, and from 2010 to 2015 the Dean of the Faculty of Management and Law.

David holds a BA in Political Science from Syracuse University, an MFA in Creative Writing (Fiction) from the Iowa Writers’ Workshop, an MBA in Finance from New York University, and a PhD in American Studies from the University of Iowa.  Amongst his academic honours, David has been a Fulbright Lecturer and was named in Business Week’s 100 top Business School Professors; in 2003 he won the EFMD Case Writing Award for ‘Xbox: It’s Time to Play’. He was a Teaching-writing Fellow at the Iowa Writer’s Workshop, and a Resident Filmmaker at the Sundance Film Institute. From 2007 – 2009, he was the author of the widely-read blog, ‘Strategy Op-Ed’.

Tony Broccardo (MA Investment Finance, 1987), CIO, Barclays Pension Fund

Tony Broccardo is the Chief Executive Officer of Oak Pension Asset Management Limited which is the in-house asset manager for the Barclays pension fund; and is the Chief Investment Officer of the Barclays Pension Fund. This circa 36billion (Sterling) Fund is highly diversified and global. Tony’s team is responsible for the asset allocation process, investment management, implementation and risk budgeting of the Fund. The Fund utilizes a significant number of external asset class specialists, with a significant portion of assets under management invested in Alternatives. Tony’s previous experience includes being an Executive Director and CIO for F&C Asset Management PLC, and as a Global Partner and Institutional CIO for Invesco Asset Management Inc. In both roles, over a period of fifteen years, he Chaired the Global Asset Allocation Committee. Tony has a MA in Finance and Investment from Exeter University, where he is a lecturer in Investment and a member of the Business School Advisory Board.

Professor Fiona Charnley, Associate Professor of Circular Economy and Co-Director Exeter Centre for the Circular Economy, University of Exeter

Professor Charnley has a background in Industrial Design and has established herself as a thought leader in the Circular Economy, working at the interfaces of Design, Innovation and Manufacture. She has extensive experience of working with organisations from across sectors to identify new approaches to design, innovation, manufacture and business modelling to transform resource use and value creation. She has also led multiple education and executive training programmes to support future leaders in developing the skills and capabilities necessary to transform our industrial system from linear to circular.

Nigel Topping, UK High Level Climate Action Champion

Nigel Topping is the UK's High-Level Climate Action Champion, appointed by the UK Prime Minister in January 2020. Nigel works alongside the Chilean High-Level Climate Action Champion, Gonzalo Muñoz. The role of the high-level champions is to strengthen collaboration and drive action from businesses, investors, organisations, cities, and regions on climate change, and coordinate this work with governments and parties to the United Nations Framework Convention on Climate Change (UNFCCC).

Nigel was most recently CEO of We Mean Business, a coalition of businesses working to accelerate the transition to a zero carbon economy. Prior to that he was Executive Director of the Carbon Disclosure Project, following an 18 year career in the private sector, having worked across the world in emerging markets and manufacturing.

Professor Chendi Zhang, Professor of Finance and Director of Research (Finance and Accounting), University of Exeter

Professor Zhang is the Director of the newly founded Exeter Sustainable Finance Centre and specialises in corporate finance, sustainable and responsible investments, behavioural finance, and emerging markets finance. He has acted as a consultant on sustainable investing and emerging markets finance for the World Bank, International Finance Corporation (Washington DC), Robeco SAM (Zurich), Bank of New York Mellon and Newton Investment Management (London).

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