Shelley Smith,
Vice President, Los Angeles City Employees' Retirement System
Moderator:
Richard Sandor, Chairman and CEO, Chicago Climate Exchange Inc.; Senior Fellow, Milken Institute
Moderator Richard Sandor asks a question of the panelists. Seated, from left, are Jane Brunner, Denise Furey, Winston Hickox, Michael Keough and Shelley Smith.
An increasing number of financial players have entered environmental markets and a business solution to long-standing environmental concerns is taking shape. Over the past year, institutional investors controlling more that $21 trillion in assets have backed the Carbon Disclosure Project, an effort to record greenhouse gas emissions from the world's largest firms - and corporations, cities and markets are taking notice. Almost 50 public and private carbon funds and carbon-tender programs have been launched, with more than $1.5 billion in dedicated capital. Over the past year, the prices paid by carbon emitters to those who reduce carbon emissions rose more than 300 percent. Investments in clean technology are growing at more than 30 percent annually. Shareholder resolutions addressing climate change have been filed at more than 30 U.S. funds. There are many opportunities for investors and corporations in these new environmental markets and this panel will look at this expanding, profitable market from the perspective of hedge funds, rating agencies, pension funds, corporations and government.
Global Conference 2013
Former Prime Minister Tony Blair, philanthropist Bill Gates and Strive Masiyiwa of Econet Wireless discuss advancing prosperity in Africa.
