COMPTE RENDU DE LA RÉUNION DU G7 DES FONDS DE PENSIONS D’AOÛT 2019 Les objectifs de Développement Durable («ODD») sont désormais incontournables pour le secteur financier (Report on the G7 Pensions Meetings, August 2019: Sustainable Development Goals (‘SDGs’) Are Now Essential for the Financial Sector)

Cahiers du Centre des Professions Financières (C-CPF)

6 Pages Posted: 17 Apr 2020 Last revised: 23 Jun 2020

Date Written: February 10, 2020

Abstract

French Abstract: Nicolas Firzli nous fait partager certains des travaux menés par le World Pensions Council (WPC) et résume ici une partie des interventions du G7 Pensions qui s'est tenu fin août dernier, en marge du Sommet du G7 de Biarritz.

Il livre des pistes de réflexions précieuses pour nous en France et en Europe, notamment sur la bonne gouvernance des fonds de pensions ("The ESG-Driven Asset Owner of the Future") à l'heure de la montée en puissance des 'Sustainable Development Goals' (SDGs) de l'ONU et sur le financement des infrastructures dans les pays de l'OCDE ainsi que dans les nations émergentes de l'aire Asie-Pacifique, d'Afrique et d'Amérique Latine.

English Abstract: The World Pensions Council (WPC), Africa Investor (Ai) and the Singapore Economic Forum (SEF) have held the G7 Pensions™ Roundtable in Biarritz, 26 August 2019, in association with the CFA Society of New York Asset Owners Series (AOS)

This high-level seminar co-chaired by Nicolas J. Firzli, WPC, brought together a select group of pension board members, trustees and policy makers from across G7 nations as well as Australia and South Africa

RE: ESG, SDG-Driven Investments and the Role of Asset Owners:

Banks currently underwrite $7tn. and lend $3tn. every year. This money should flow in a way consistent with the SDGs, but, quite often, it's not the case when it comes to polluting (coal, shale gas, deep offshore oil) and unhealthy (tobacco, opioids...) industries

Here, the notion of "chain of ownership" is key. Who owns the capital of these [sometimes] complacent investment banks?

Large asset owners such as e.g. Norges Bank in Europe [already] have it in their power to make a decisive impact on the world economy by engaging more forcefully with the banks in question [whose shares and bonds they own] re some of their current lending and underwriting practices

More generally, influential asset owners such as public pension funds, SWFs and central banks will also need more reliable data to "shift the trillions" and accelerate the advent of "the SDG-Driven Firm of the Future"....

Dr. Michael Urban, Economy & Society: Transformations and Justice Research Cluster, Oxford University, presented the preliminary findings of his ongoing research project re: ESG data and investment governance in the financial services sector — some of the notions advanced here are based on his research, others on papers published by the World Pensions Council

RE: WOMEN EMPOWERMENT & GENDER EQUALITY "FROM BOARD-ROOMS TO PLANT-FLOORS"

This high-level roundtable was led jointly by Valerie Easmon-George, Board Member (Trustee), Islington Council, Local Government Pensions Scheme (LGPS); Suzanne Bishopric, fmr. CIO, UN Joint Staff Pension Fund (JSPF), the New York-based supranational pension giant, and Chris Smith, Board Member (Trustee), Westminster City Council, LGPS & UNISON Br. Sec.

The 2020 G7 Pensions™ Roundtable will be held on June 12 2020, on the sidelines of the 46th G7 Summit.

Note: Downloadable document is in French.

JEL Classification: F13, F15, F21, F22, F33, F34, F35, F38, F42, F43, F52, F55, F64, F65, F68, G11, G15, G17, G20, G28

Suggested Citation

Firzli, Maher Nicolas, COMPTE RENDU DE LA RÉUNION DU G7 DES FONDS DE PENSIONS D’AOÛT 2019 Les objectifs de Développement Durable («ODD») sont désormais incontournables pour le secteur financier (Report on the G7 Pensions Meetings, August 2019: Sustainable Development Goals (‘SDGs’) Are Now Essential for the Financial Sector) (February 10, 2020). Cahiers du Centre des Professions Financières (C-CPF), Available at SSRN: https://ssrn.com/abstract=3545217

Maher Nicolas Firzli (Contact Author)

World Pensions Council (WPC) ( email )

United States

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