Understanding What TCFD Means for Private Equity

Wednesday, June 26 2019, 9:00 AM - 3:30 PM [EST]

Perry Street, New York, NY, 10004, United States

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Event Information

Wednesday, June 26 2019, 9:00 AM - 3:30 PM [EST]

About the Event

Attendees will gain insights into:

  • LP expectations: An understanding of what LPs are looking for and how it fits into their assessments of managers.
  • Benchmarking insights: The information you need to benchmark your Task Force on Climate-related Financial Disclosures (TCFD) efforts against the industry based on fresh analysis of the scope and breadth of the current reporting landscape and the options available to disclosing firms.
  • What TCFD-aligned reporting entails: An overview of the information you need to gather for TCFD-aligned reporting.
  • Content for TCFD-aligned reportingExpert insights that you can include in your reportingTangible examples of how climate change can directly impact, positively and negatively, your portfolio companies. Detailed examples of climate risks and opportunities for firms that own assets or operate in New York City.

 

 Issue experts speaking at the event include: 

  • Senior Climate Policy Advisor to Washington State’s Insurance Commissioner
  • Director of the NYC Mayor's Office of Recovery and Resiliency
  • Sustainability Director, University of Maine & Research Assistant Professor the Climate Change Institute at the University of Maine

 

 

Agenda:

9:00 am - 9:15 am

Registration

 

9:15 am - 10:00 am

Tangible Example: New York City’s climate resiliency and potential impacts under climate scenarios

Director of the NYC Mayor's Office of Recovery and Resiliency, Jainey Bavishi

How can assets be impacted by climate change?  What are potential workforce and operational implications for portfolio companies?  For GPs headquartered in New York? 

Using New York City as an example, this session will give GPs insights to better understand potential climate related disruptions, climate change impacts to portfolio companies and the firm’s own operations and workforce, as well as examples of resiliency efforts. This presentation will provide an overview of NYC’s climate scenario analysis and resulting steps being taken by NYC Mayor's Office of Resiliency. 

 

10:00 am- 10:20 am

The US LP Perspective on Climate Change Disclosure

The view from pension funds, foundations, and endowments on climate change reporting as well as how increased information from GPs can help them and what is on the horizon for LP climate related considerations.

This session will share takeaways and insights from interviews with half a dozen US LPs with individual AUMs from $50B - $250B.

 

10:20 am - 10:45 am

The Current Context of TCFD-aligned Reporting

What does TCFD-aligned reporting currently look like? Who is reporting? How? What? What are the formats?  An overview of the landscape & spectrum of responses including new analysis not previously released.

 

10:45 am - 11:00 am

Break

 

11:00 am – 11:45 am

Deep Dive: Climate scenario analysis & business benefits

Why is TCFD recommending investors implement climate scenario analysis? What is the process?  How can the results of climate scenario analysis benefit a company across functions?

This session will provide an overview of scenario analysis and how the resulting information can benefit non-sustainability functions.

 

12:00 pm - 1:00 pm 

Lunch on the terrace

 

1:00 pm - 1:45 pm

The Regulatory Landscape: Regional momentum to address climate change

Jay Bruns, Senior Climate Policy Advisor at Washington State Office of the Insurance Commissioner

While federal regulatory action on climate change is on the back burner, more and more states are taking action. 

Hear about state-level developments, strategies and policy objectives, as well as how state agencies are currently cultivating international and nation partnerships during this talk by Jay Bruns, primary advisor to the Washington State Insurance Commissioner on all issues related to climate change.

Attendees will improve their understanding of climate change related regulatory risks and opportunities.

 

1:45 pm - 2:30 pm

Deep Dive: A robust climate change approach on a lean budget

Daniel Dixon, Sustainability Director, University of Maine & Research Assistant Professor the Climate Change Institute at the University of Maine

How do sustainability professionals at resource constrained organizations successfully prioritize climate change actions at a facility or location level, address climate impacts, and develop related metrics?

Daniel Dixon manages a robust and award-winning sustainability program across over a 100 buildings with thousands constituents --all with limited resources.   Come hear his insights as a practioner and learn about public and free tools on climate change developed by the Climate Change Institute at the University of Maine.

 

2:30 pm - 3:15 pm

Tools, Innovation, & Thought Leadership

Learn about tools available to assist with TCFD-aligned reporting, as well as new and innovative opportunities to address climate change.  Initiatives include recently launched thought leadership initiatives at the NYU Stern School of Business and pioneering non-profits. 

 

3:15 pm - 4:30 pm

Informal Networking on the Terrace

The event will officially close at 3:15 pm however attendees are welcome to network and relax on the terrace until 4:30 pm.

 

**This event will be under the Chatham House Rule.  No media will be present. The audience will consist of investors, industry content providers, and speakers.  The event is content driven—speakers are invited on their ability to provide insights.**

 

 

Event Location

About the Organizer

At Verability, we bring deep industry expertise to define environmental, social, and governance (ESG) strategies, practices, and communications that fit the needs of your firm. Verability provides advisory services to facilitate the development and implementation of environmental, social, governance (ESG) investing, impact investing, and responsible investing (RI) strategies. We have deep knowledge on integrating ESG issues into investment processes and active ownership practices. Our expertise is built upon work at prominent institutional investors and global investor collaborations.

CONTACT ORGANIZER

Event Speakers

Jainey Bavishi
Director of the NYC Mayor's Office of Recovery and Resiliency

Jainey K. Bavishi currently serves as the Director of the NYC Mayor’s Office of Recovery, where she leads the City’s OneNYC resiliency program, preparing the city for the impacts of climate change. She previously served as the Associate Director for Climate Preparedness at the White House Council on Environmental Quality. In this role, she led the implementation of the climate preparedness pillar of the President's Climate Action Plan. In the final year of the Obama Administration, she was responsible for embedding and institutionalizing climate resilience considerations across Federal programs and policies; advancing climate equity to address the disproportionate impacts of climate change on low-income and other vulnerable communities; and developing innovative approaches to climate adaptation finance. Prior to this, Jainey served as Executive Director of R3ADY Asia-Pacific based in Honolulu, Hawaii, where she was responsible for initiating, expanding and managing the start-up public-private partnership, which focused on enhancing disaster risk reduction and resilience in the Asia-Pacific region. Previously, she was Director of External Affairs and Senior Policy Advisor to the Administrator at the National Oceanic and Atmospheric Administration (NOAA) in Washington, DC. She was also the Founding Director of the Equity and Inclusion Campaign, a coalition of community-based leaders in the Gulf Coast region that focused on recovery from Hurricanes Katrina, Rita, Gustav and Ike, at the Louisiana Disaster Recovery Foundation. Jainey has a Master’s degree in city planning from the Massachusetts Institute of Technology and Bachelor’s degree in public policy and cultural anthropology from Duke University.

Jay Bruns
Senior Climate Policy Advisor to the Washington State Insurance Commissioner

Jay is Senior Climate Policy Advisor to the Washington State Insurance Commissioner. Previously, Jay was Senior Advisor for Private Sector Engagement at the United Nations Environment Program. In this role, Jay worked with UN Environment Executive Director Erik Solheim and his team to partner with leading U.S. and Canadian businesses to advance the UN’s environmental agenda. Earlier, Jay was at The Hartford, one of the largest and oldest insurance companies in the U.S. There, as Vice President for Public Policy, he led the company’s environmental stewardship efforts and he worked on insurance-related issues at the federal and state level. Jay also had a 25-year career as a Foreign Service Officer in the U.S. Department of State, rising to the Senior Foreign Service. He represented the United States in Germany, Norway, Japan, Trinidad and Tobago and Canada, participated in negotiations, and managed policy issues in the State Department, Office of U.S. Trade Representative and the National Security Council at the White House. Jay holds a B.A. in international relations from Colorado College, and an M.A. in international affairs from George Washington University. He also studied at the National War College and University of Copenhagen. He speaks Norwegian, Danish and German, as well as some Japanese.

Dan Dixon
Sustainability Director, University of Maine & Research Assistant Professor the Climate Change Institute at the University of Maine

Daniel Dixon has two roles at the University of Maine. He is the campus Sustainability Director and a Research Assistant Professor with the University’s Climate Change Institute. Dan came to the U.S. with a background in engineering and science and earned his MS and PhD at UMaine. Dan has completed five Antarctic field seasons, traversing more than 10,000 km over the ice sheet and drilling more than 40 ice cores along the way. His research is focused on reconstructing paleoclimate over the last 1000 years using the chemistry contained in snow and ice. Dan has also worked in Iceland, Southern Patagonia, the New Zealand Southern Alps, the Central Chilean Andes, the Peruvian Andes, the Olympic Mountains, the Saint Elias Mountains, and on the Island of South Georgia. Dan is a recipient of the United States Antarctic Program Polar Service Medal and has received an NSF Achievement Award for Traversing in Antarctica. In his role as Sustainability Director, Dan provides strategic direction and leadership to promote a culture of sustainability at the University of Maine. He is responsible for the overall management and oversight of the Office of Sustainability. He works closely with all levels of university leadership to advance the University of Maine’s ongoing commitment to sustainability and engages campus leaders to foster sustainability broadly across the institution.

David leads BSR’s financial services practice and works closely with BSR’s sustainability management team to partner with companies across sectors. He advises companies on integrating sustainability into corporate strategy, investment management, and products and services. David has led engagements in all of BSR’s areas of expertise and major industry groups. As part of his collaboration with BSR members, he has developed sustainable investment strategies for private equity funds and their portfolio companies, designed and operationalized a leading impact investing fund, conducted materiality assessments and facilitated strategy development, undertaken human rights impact assessments on emerging technologies, co-authored research on the business benefits of inclusive business strategies, and built global stakeholder engagement tools, among other activities. David also co-leads the Net Positive Project. Before joining BSR, David worked in strategy and management consulting at Bain & Company. Additionally, he has worked as an independent consultant in sustainability and nonprofit governance. David holds a B.A. in History from Amherst College.

Sonal Mahida
Founder, Verability

For over 15 years, Sonal Mahida has held senior and founding positions in the environmental, social, and governance (ESG) investing field. She was the first Head of North America for the Principles for Responsible Investment (PRI), TIAA-CREF’s first Senior Governance Analyst on E&S, as well as the head executive of CDP USA where she oversaw the organization’s U.S. activities. As Head of North America for PRI, Sonal developed initiatives to aid and educate over 300 U.S. and Canadian investors in the practice and implementation of ESG integration and risk management. Sonal is frequently brought in as an industry leader to present on ESG investing for trustees and executive management at institutional investors including state pension funds as well as in the media.

www.verability.com
Chris Walker
Director, Financing SDG Business Opportunities in NYC, Center for Sustainable Business, NYU Stern School of Business

Chris Walker is the Director, Invest NYC SDG project which focuses on financing Sustainable Development Goals (SDGs) driven business opportunities in New York City at the Center for Sustainable Business, New York University (NYU) Stern School of Business. For two decades he has been a catalyst for pioneering partnership initiatives to achieve Sustainable Development. He has experience in indentification and execution of market-based solutions to address climate change and the SDGs via financial sector innovation and corporate pre-competitive coalition building. Before joining NYU, Chris served as the World Business Council for Sustainable Development as the Director, North America based in New York City. As part of his role, he managed the organization’s relationship with the 47 Fortune 500 companies with headquarters in North America. As part of WBCSD’s Redefining Value he led the Investor Decision making work which assists WBCSD members engagement on ESG issues with the Financial sector such as Aligning Retirement Assets of corporates with their sustainability values. He also created an unprecedented partnership of soft commodities trading companies to tackle deforestation. Prior to WBCSD, he worked in a variety of roles as a member of Ernst & Young LLP’s Americas Climate Change and Sustainability Services practice. He previously was the Executive Officer of the Carbon Trust, LLC, the US affiliate of the UK’s Carbon Trust. He has served on the National Academy of Science’s, congressionally mandated study “America’s Climate Choices” (July 2010) and as Executive Director for North America for The Climate Group where he conceptualized “Climate Week” as a pivotal annual event in NYC to engage global influencers. Chris’ sustainability career started as a Managing Director of Swiss Re's Sustainability Business Development where he ran a unit responsible for developing commercial applications to Swiss Re Sustainability commitments as well as government affairs liaison on climate change/GHG emissions issues. Prior to Swiss Re, he litigated asbestos and toxic torts. He is a graduate with a BA and JD from St. John's University and attended the Institute on Comparative Political and Economic Systems at Georgetown.