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2020 Financial Services Climate Change Conference

Brought to you by ICAEW Financial Services, this conference enables banks, insurers and investment managers to understand where other organisations are in the process of managing their climate change related financial risks.

Climate change related financial risks are gaining more significance in financial services organisation. Banks, insurers and asset managers realise that these risks affect not only their businesses but those of their clients and customers.

Conference Recording

The recording of this virtual conference, divided into 2 sections, will help you to understand the implications of these risks and help start the process of assessing, managing and mitigating them.

Section 1 (approximately 75 minutes) consists of: Chair's opening remarks - Veronica Poole, Deliotte; In conversation with Karina Litvack NED, Eni and the Preparers Panel, involving Cecilia May, Lloyds; Maxine Nelson, GARP ; Ben Boukhobza, 427 and Maeve Sherry, Aviva.

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Section 2 (approximately 90 minutes) consists of: Regulatory Expectations Panel, involving  Chris Faint, Bank of England; Mark Manning, Financial Conduct Authority; Hannah Armitage, Financial Reporting Council and David Farrar, Department for Work and Pensions - Fireside chat with Veronica Poole & Jonathan Bravo on the IOSCO developments - Investors' Expectations Panel, involving Stuart Graham, Autonomous; Matt Bullivant, Close Brothers; Will Oulton, First Sentier Investors and Paul Lee - Beyond climate change - Mark Gough - Capitals Coalition; and Closing Remarks - Veronica Poole, Deliotte.

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By listening to either recording you will learn from the experience of peer organisations, understand the regulatory expectations in which speakers include PRA, FCA, FRC, DWP and the Capitals Coalition.

Speakers

Veronica Poole is a partner at Deloitte, DTTL Global IFRS Leader and Head of Accounting and Corporate Reporting for Deloitte North and South Europe. As the Global IFRS leader and the Senior Technical Partner she is responsible for IFRS accounting quality and is the leading voice of the global Deloitte network, both internally and externally, on IFRS and corporate reporting matters. She chairs Deloitte’s Global IFRS Leadership team and is a member of the Deloitte Global Audit Quality Board. Her external appointments include: member of the UK FRC’s Corporate Reporting Council, member of the International Integrated Reporting Council, Chair of the Advisory Group to the ICAEW Financial Reporting Faculty, advisory member to the Hundred Group Financial Reporting Committee and a former member of the Financial Reporting Advisory Board to HM Treasury. She leads Deloitte’s relationship with The Prince's Accounting for Sustainability Project (A4S) and the UK Chapter Zero, The Directors’ Climate Forum. Her current priorities include influencing and driving change in the accounting and corporate reporting and in the accounting profession, including reporting of ESG and climate-related financial and business risks. She works with standard-setters, policy makers, regulators and professional bodies to advance the goal of better corporate reporting.

Karina A. Litvack, Independent Non-executive Director. She was born in Montreal in 1962 and she has been a Director in Eni since May 2014. She is currently a member of Business for Social Responsibility, a member of the Advisory Council for Transparency International UK, a member of the Senior Advisory Panel of Critical Resource and of the Board of Governors of the CFA Institute. She is founder and executive member of the Board of Chapter Zero Limited. She is Chairman of the Tainted Assets Initiative and non-Executive Chairman of the Sustainability Board Committee of Viridor Waste Management Ltd.

Maxine Nelson is a Leader in Risk, Capital and Regulation, with experience gained from senior roles in banking, consulting, and at the UK regulator.

Cecilia May is a member of ICAEW and a Head of Audit at Lloyds Banking Group responsible for audit assurance across a diverse portfolio including sustainability and climate risk. Cecilia qualified as a Chartered Accountant with PwC in their Government and Not for Profit assurance practice and has extensive experience in risk management.

Chris Faint heads-up the Bank’s climate hub, which has responsibility for developing and implementing the institution’s strategic approach to climate change and he is a Bank representative in the NGFS. Chris has been particularly focused on the PRA’s supervisory statement on financial risks arising from climate change and the development of a system-wide climate change stress test. Beyond climate, Chris has responsibilities spanning the authorisation, supervision and analysis of firms operating as investment banks in the UK. 
Prior to working at the Bank, Chris held roles at HM Treasury and Ernst and Young, where he qualified as a Chartered Accountant.

Mark Manning is a Technical Specialist at the FCA, focussing on sustainable finance and investor stewardship. Mark is leading the FCA’s work on climate-related financial disclosures and also represents the FCA on the Treasury’s joint taskforce on TCFD implementation. He also supports the FCA’s co-leadership of the issuer disclosures workstream of IOSCO’s Sustainable Finance Taskforce. Prior to joining the FCA, Mark spent a long career in central banking at the Bank of England and the Reserve Bank of Australia

Hannah Armitage, Projector Director joined the Financial Reporting lab in 2017. She moved from the FRC’s Corporate Governance Team, where she worked on reviews of the Stewardship Code and UK Corporate Governance Code. Hannah is a qualified lawyer and prior to joining the FRC, worked in the Australian Department of the Treasury on corporations and corporate law policy.

David Farrar has worked in DWP since 2003, and in workplace pensions policy at DWP since 2014. In recent years, he has delivered regulations on the charge cap; cost, charge and investment disclosure; the introduction of tailored risk warnings in personal pensions with Guaranteed Annuity Rates; accelerating and removing barriers to DC consolidation; clarifying and strengthening trustees’ duties around ESG. He currently leads on DWP’s work on climate change risk in the Pension Schemes Bill and embedding climate governance and TCFD into pension scheme decision making.

Prior to founding Autonomous in 2009, Stuart Graham was the head of European banks equity research at Merrill Lynch. Before joining Merrill Lynch in 2002, Stuart worked at JPMorgan and HSBC (both in banks equity research). He began his career at the Bank of England in 1988 in the banking supervision department.

Begoña Ramos is As Head of Enterprise Risk where she has lead several transformational programmes for Santander UK. This role requires strategic vision, master the art of balancing risk, business and financial analysis to ensure value creation, capital efficiency and regulatory compliance for the firm.

Maeve Sherry is Actuarial Risk Director at Aviva.

Matt Bullivant is a fellow of the ICAEW and Head of Sustainability at Close Brothers Group plc, where he is responsible for directing the group’s sustainability strategy and delivering on its sustainable programmes and initiatives. Matt was Investor Relations Manager at Close Brothers for a number of years and continues to work closely with investor engagement on ESG themes.

Will Oulton FRSA, Global Head, Responsible Investment at First State Investments (FSI) based in the UK and is responsible for defining and delivering FSI’s responsible investment and stewardship strategy globally. In this role he is tasked with advancing FSI’s understanding of how ESG Factors impact long term investment value. He is also responsible for developing FSI’s thought leadership programs and managing the RI Governance structure for the business.

Mark Gough is the Executive Director of the Natural Capital Coalition, a role he took on in March 2015. A strong believer in integrating sustainability into decision making where it becomes everyone’s opportunity, Mark previously worked for The Crown Estate, helping to develop its integrated vision and approach to value measurement. Prior to this he was the Global Environmental Manager for the information company, Reed Elsevier. Mark is a Director of the Aldersgate Group, which brings together business, politics and civil society to drive action for a sustainable economy, and has sat on a number of national and international committees, including the Steering Committee of the United Nations CEO Water Mandate and the Board of the Alliance for Water Stewardship.