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THE FINANCIAL SYSTEM AND
MARKETS: ALIGNED WITH THE LOW
CARBON TRANSITION?
OECD GREEN INVESTMENT
FINANCING FORUM
Dr Steve Waygood
Chief Responsible Investment Officer
20 May 2015, OECD Headquarters, Paris
Private Capital Flows and the Equity Markets
Stock
Exchanges
Stock
Exchanges
4. Asset Management Companies
1. BlackRock Inc.
2. UBS
3. Allianz Group
4. Vanguard Group Inc.
5. State Street Global Advisors
(SSGA)
3. Top 5 UK Pension Managers (2010)
1. Legal & General Investment Mgmt.
2. BlackRock
3. Insight Investment Management
(Global)
4. Standard Life Investments
5. State Street Global Advisors
2. Top 5 Investment Consultant
(ehow, 2010)
1. Hewitt EnnisKnupp
2. Mercer Investment Consulting
3. Russell Investments
4. Towers Watson
5. Cambridge Associates LLC
1. Best Broker Overall
(Extel, 2012)
1. UBS
2. Bank of America
Securities
- Merrill Lynch
3. Morgan Stanley
4. Deutsche Bank
5. Citi
Scale as an opportunity
4
Test 1. Getting Prices Right: does the debate recognize the central importance of ensuring
that the underlying price mechanisms promotes sustainable development?
Test 2. Getting Pay Right: are there measures that will change the incentives within the
institutional participants in the capital supply chain (in particular, sell-side brokers, stock
exchanges, fund managers, investment consultants and asset owners)?
Test 3. Securing Capital: are there investment instruments that will be sufficiently attractive
to markets and/or does it look likely to generate a plausible capital raising plan?
Test 4. Systemic Transparency: does the means of implementation include measures that
will promote the transparency of companies on their sustainability performance as well as
all the transparency of all the investment intermediaries that connect the end investor to the
companies that they own?
Test 5. Sustainable Finance Standards: will the means of implementation create the right
kind of hard and soft standards that facilitate sustainable capital markets?
Test 6. Sustainable Demand for Sustainable Finance: will the SDGs promote financial
literacy measures among the investing public in order to ensure that there is sufficient
demand for sustainable finance and sufficient accountability of financial institutions for their
actions in this area?
Our Post-2015 Financial Fitness Tests
Unless stated otherwise, any views and opinions are those of Aviva Investors Global
Services Limited (Aviva Investors) as at 15/06/2014. They should not be viewed as
indicating any guarantee of return from an investment managed by Aviva Investors nor as
advice of any nature. The value of an investment and any income from it may go
down as well as up and the investor may not get back the original amount
invested. Past performance is not a guide to the future.
This document should not be taken as a recommendation or offer by anyone in any
jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful
to make such an offer or solicitation.
Aviva Investors Global Services Limited, registered in England No. 1151805. Registered
Office: No. 1 Poultry, London EC2R 8EJ. Authorised and regulated by the Financial
Conduct Authority and a member of the Investment Management Association. Contact
us at Aviva Investors Global Services Limited, No. 1 Poultry, London EC2R 8EJ.
Source Aviva Investors
DISCLAIMER
5
THANK YOU

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GIFF 2015 Session 10 Steve Waygood

  • 1. THE FINANCIAL SYSTEM AND MARKETS: ALIGNED WITH THE LOW CARBON TRANSITION? OECD GREEN INVESTMENT FINANCING FORUM Dr Steve Waygood Chief Responsible Investment Officer 20 May 2015, OECD Headquarters, Paris
  • 2. Private Capital Flows and the Equity Markets Stock Exchanges
  • 3. Stock Exchanges 4. Asset Management Companies 1. BlackRock Inc. 2. UBS 3. Allianz Group 4. Vanguard Group Inc. 5. State Street Global Advisors (SSGA) 3. Top 5 UK Pension Managers (2010) 1. Legal & General Investment Mgmt. 2. BlackRock 3. Insight Investment Management (Global) 4. Standard Life Investments 5. State Street Global Advisors 2. Top 5 Investment Consultant (ehow, 2010) 1. Hewitt EnnisKnupp 2. Mercer Investment Consulting 3. Russell Investments 4. Towers Watson 5. Cambridge Associates LLC 1. Best Broker Overall (Extel, 2012) 1. UBS 2. Bank of America Securities - Merrill Lynch 3. Morgan Stanley 4. Deutsche Bank 5. Citi Scale as an opportunity
  • 4. 4 Test 1. Getting Prices Right: does the debate recognize the central importance of ensuring that the underlying price mechanisms promotes sustainable development? Test 2. Getting Pay Right: are there measures that will change the incentives within the institutional participants in the capital supply chain (in particular, sell-side brokers, stock exchanges, fund managers, investment consultants and asset owners)? Test 3. Securing Capital: are there investment instruments that will be sufficiently attractive to markets and/or does it look likely to generate a plausible capital raising plan? Test 4. Systemic Transparency: does the means of implementation include measures that will promote the transparency of companies on their sustainability performance as well as all the transparency of all the investment intermediaries that connect the end investor to the companies that they own? Test 5. Sustainable Finance Standards: will the means of implementation create the right kind of hard and soft standards that facilitate sustainable capital markets? Test 6. Sustainable Demand for Sustainable Finance: will the SDGs promote financial literacy measures among the investing public in order to ensure that there is sufficient demand for sustainable finance and sufficient accountability of financial institutions for their actions in this area? Our Post-2015 Financial Fitness Tests
  • 5. Unless stated otherwise, any views and opinions are those of Aviva Investors Global Services Limited (Aviva Investors) as at 15/06/2014. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. Past performance is not a guide to the future. This document should not be taken as a recommendation or offer by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. Aviva Investors Global Services Limited, registered in England No. 1151805. Registered Office: No. 1 Poultry, London EC2R 8EJ. Authorised and regulated by the Financial Conduct Authority and a member of the Investment Management Association. Contact us at Aviva Investors Global Services Limited, No. 1 Poultry, London EC2R 8EJ. Source Aviva Investors DISCLAIMER 5