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Investment and Asset Management

FT Moral Money Summit New York

Capitalism: Time for a Reset

New York |
Speakers include:
Tensie  Whelan

Tensie Whelan

Center for Sustainable Business, NYU Stern School of Business

Jay Coen  Gilbert

Jay Coen Gilbert

B Lab

Raymond  Dhirani

Raymond Dhirani

WWF UK

Overview

While many companies have embraced responsible business practices, something new is on the horizon: calls for redefining capitalism itself. And among the loudest are coming from some of the world’s most prominent business chiefs. These leaders argue that taking corporate strategies beyond the financial bottom line to the needs of society and the planet benefits the business and its investors. None of this will be easy. Traditional approaches such as CSR and ESG (environmental, social and governance) will not suffice. Companies need to identify their core impacts, both social and environmental, and decide which operational and strategic shifts can make the biggest impact on all stakeholders. 

What does this mean for business and what underlying systems and structures need to change to put capitalism on a more inclusive path? Given the current uncertainty and the impact on the global economy, can companies truly prioritize stakeholders? Is it hard to be a responsible business in a time of crisis? How can companies balance both profit and purpose?  These questions will be raised at the FT Moral Money Summit

The one-day event brings together an elite cohort of leading companies, employer representatives, consultants, board members, investors and others. Hosted by FT Moral Money, the weekly newsletter and trusted guide to developments in socially responsible business and sustainable finance, the agenda will explore the key issues leaders face in transforming in their business models and ask what more is needed to shift to a form of capitalism that benefits not only shareholders but the whole of society and the planet on which we depend.

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fallback Add to my Calendar 09/30/2020 08:00:0009/30/2020 17:00:00trueFT Moral Money Summit New YorkWhile many companies have embraced responsible business practices, something new is on the horizon: calls for redefining capitalism itself. And among the loudest are coming from some of the world’s most prominent business chiefs. These leaders argue that taking corporate strategies beyond the financial bottom line to the needs of society and the planet benefits the business and its investors. None of this will be easy. Traditional approaches such as CSR and ESG (environmental, social and governance) will not suffice. Companies need to identify their core impacts, both social and environmental, and decide which operational and strategic shifts can make the biggest impact on all stakeholders. What does this mean for business and what underlying systems and structures need to change to put capitalism on a more inclusive path? Given the current uncertainty and the impact on the global economy, can companies truly prioritize stakeholders? Is it hard to be a responsible business in a time of crisis? How can companies balance both profit and purpose?  These questions will be raised at the FT Moral Money Summit. The one-day event brings together an elite cohort of leading companies, employer representatives, consultants, board members, investors and others. Hosted by FT Moral Money, the weekly newsletter and trusted guide to developments in socially responsible business and sustainable finance, the agenda will explore the key issues leaders face in transforming in their business models and ask what more is needed to shift to a form of capitalism that benefits not only shareholders but the whole of society and the planet on which we depend.FT-Moral-Money-Summit-New-Yorkde69cbf261e6790e86d359aef44b76e6MM/DD/YYYY

Agenda - 30th Sep

  • 8:00am
    Registration and Breakfast
  • 8:50am
    Opening Remarks
  • 9:00am
    Keynote Dialogue: Rebuilding Trust in Capitalism

    In this year’s Edelman Trust Barometer, 56 percent of respondents believe that capitalism in its current form is now doing more harm than good in the world. From banking scandals and data privacy at big tech firms, poor worker safety in developing countries and a growing awareness of the harmful direct and indirect impacts that corporations have on the environment, the list of grievances is long. 

    • What adjustments could be made to the capitalist system to avoid these problems?
    • How should business go about redressing the balance to rebuild public trust?
    • What is the impact of the current health and economic crisis on company priorities? 
    • What does the current economic climate mean for business and what underlying systems and structures need to change to put capitalism on a more inclusive path? 
  • 9:30am
    Our Planet, Our Finance – WWF Video Presentation

    From the creators of Our Planet: Our Business comes a new film, inspired by the Netflix series. Produced by the Emmy® Award-winning Silverback Films for WWF-UK, this film shows how the finance sector can make or break the planet.

    Raymond Dhirani, Head of Sustainable Finance, WWF UK

  • 9:40am
    Panel Discussion: Rethinking Shareholder Primacy

    Since 1970, when Milton Friedman argued that companies’ only responsibility was to shareholders, shareholder primacy has dominated capitalism. This has since been challenged. New corporate forms are emerging, such as the Benefit Corporation, where companies must to pay equal attention to their social and environmental impact as to financial returns. Business leaders are also embracing longer-term strategies that incorporate a wider range of priorities.

    • To what extent have companies abandoned the mantra of shareholder primacy?
    • Given the current uncertainty and the impact on the global economy, can companies truly prioritize stakeholders? 
    • Are company boards willing to rethink their responsibility to shareholders? 
    • And if they do, what will be the response from their investors given the current economic environment? 

    Panelists:
    Tensie Whelan, Clinical Professor of Business and Society, Director, Center for Sustainable Business, NYU Stern School of Business
    Raymond Dhirani, Head of Sustainable Finance, WWF UK
    Jed Emerson, Founder, Blended Value Group
    Jay Coen Gilbert, Cofounder and CEO, B Lab

  • 10:20am
    Networking Break
  • 10:50am
    Panel Discussion: The Expanding Realm of Responsibility

    Today, much of business’s social and environmental impact lies beyond companies’ direct control. While they can exert control over the way their own business operations are run, in a world where supply chains are long and extremely complex, how is it possible to ensure that every element of the business – including their suppliers – is adhering to social and environmental objectives? How will demands for transparency in the supply chain change the way companies operate? And given that suppliers have their own suppliers, how far down the chain do they need to go?

  • 11:30am
    Panel Discussion: Corporate Governance

    With a growing number of investors viewing companies through an ESG (environmental, social and governance) lens, companies wanting to access capital may need to start paying more attention to the “G” in ESG.

    • What board structures and incentives could encourage more inclusive and sustainable corporate behaviour? 
    • How can companies do more to manage and measure governance practices that foster better overall business behaviour?
  • 12:30pm
    Lunch
  • 1:10pm
    Sustainable Finance Cannot Save the World, But the World is Saving Finance

    Hervé Duteil, Chief Sustainability Officer, BNP Paribas

  • 1:30pm
    Interactive sessions: Working groups

    Working group 1: Sustainable financing
    Hervé Duteil, Chief Sustainability Officer, BNP Paribas

  • 2:30pm
    Panel Discussion: Lobbying for Good

    As companies start building sustainability and purpose into their strategies, a disconnect often persists between those objectives and what their heads of governmental relations are pushing policy to do, which often undermines the same objectives. This is starting to change. For example, some companies have cut ties with industry lobby groups over disagreements with their climate policies. 

    • Should companies be pushing government for tighter environmental regulations to establish a level playing field? 
    • As companies try to integrate sustainability and purpose fully across their enterprises, what is the role of lobbying and government relations? 

    Panelists:
    Adam Kanzer, Head of Stewardship - Americas, BNP Paribas Asset Management

  • 3:10pm
    Networking Break
  • 3:30pm
    Keynote Interview: The New Corporate Activism

    In response to high-profile events such as racial violence, sexual discrimination and natural disasters, chief executives are increasingly taking a stand on social and environmental issues, not only speaking out but also changing their business plans, with some even boycotting US states whose policies they do not agree with. Yet for business leaders this is challenging. Corporations have employees and customers from all sides of the political spectrum. 

    • What is the role of corporations in influencing these debates? 
    • When should they engage – and when should they remain silent? 
  • 4:00pm
    Panel discussion: Measuring Impact

    Impact measurement is a complex business and increasingly sought after by companies and investors. With a wide range of technologies, standards and frameworks currently emerging, companies are being forced to navigate an increasingly complex measurement landscape.

    • How can uniformity and clarity be brought to impact measurement? 
    • What are the potential pitfalls in as impact measurement is scaled up?
  • 4:40pm
    Keynote Address: The Climate and Nature Imperative

    With climate protests achieving global prominence and the climate language shifting to include words such as “catastrophe” and “emergency”, climate change and nature more widely have recently moved rapidly up the agenda. Accompanying this is the recognition that the corporate sector has a critical role to play in finding solutions. 

    • How is this mood change making its way into the strategies and practices of companies across the world? 
    • Is it hard to be a responsible business in a time of crisis?
    • Can businesses respond fast enough to the science?
  • 5:00pm
    Closing Remarks
  • 5:00pm
    Cocktail Reception

SPEAKERS (6)

Tensie  Whelan

Tensie Whelan

Clinical Professor of Business and Society, Director
Center for Sustainable Business, NYU Stern School of Business

Tensie Whelan has 25 years of experience working on local, national and international environmental and sustainability issues to engage businesses in proactive and innovative mainstreaming of sustainability. As President of the Rainforest Alliance, she built the organization from a $4.5 m to $50 m budget, transforming the engagement of business with sustainability, recruiting 5,000 companies in more than 60 countries to work with Rainforest Alliance.  She built the Rainforest Alliance frog into an internationally recognized and credible brand.  Her previous work included serving as Executive Director of the New York League of Conservation Voters, Vice President of the National Audubon Society, Managing Editor of Ambio, a journal of the Swedish Academy of Sciences, and a journalist in Latin America.  Ms Whelan has been recognized by Ethisphere as one of the 100 Most Influential People in Business Ethics, was the Citi Fellow in Leadership and Ethics at NYU Stern in 2015 and has served on numerous nonprofit boards and corporate advisory boards such as the Unilever Sustainable Sourcing Advisory Board and the Nespresso Innovation Fund Advisory Board.  She holds a BA from New York University, an MA from American University, and is a graduate of the Harvard Business School Owner President Management (OPM) Program.

Jay Coen  Gilbert

Jay Coen Gilbert

Cofounder and CEO
B Lab

Jay Coen Gilbert is cofounder of B Lab, the nonprofit behind the global B Corporation movement. Its vision is an inclusive, equitable and regenerative economy for all people and the planet. This requires an upgrade to the operating system, culture and practice of business and finance. Along with his B Lab cofounders, Mr Gilbert is the recipient of the Skoll Award for Social Entrepreneurship and the McNulty Prize at the Aspen Institute, where he is a Henry Crown Fellow. To build the broad coalition necessary for economic system change, Mr Gilbert serves as executive co-chair of Imperative 21, a business-led cross-sector network of coalitions that believes the imperative of the 21st century is to reimagine and redesign our economic system so its purpose is to create value for all stakeholders, while stewarding the natural and social systems on which healthy markets and all life depends. Founding coalition partners include: B Lab, The B Team, CECP (Chief Executive for Corporate Purpose), The Coalition for Inclusive Capitalism, Conscious Capitalism, and JUST Capital. In addition to serving on several boards, for more than a decade he has co-taught a class about the role of business in society at Westtown School, a 200 year old Quaker school. Prior to co-founding B Lab, despite having no game, he co-founded and sold AND 1, a $250M basketball footwear, apparel and entertainment company. Prior, Mr Gilbert worked for McKinsey & Co and several organizations in NYC’s public and nonprofit sectors. He grew up in New York City and graduated from Stanford University with a degree in East Asian Studies. Between AND 1 and B Lab.

 

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Raymond  Dhirani

Raymond Dhirani

Head of Sustainable Finance
WWF UK

Ray Dhirani leads the sustainable finance team at WWF-UK, where he has spent the last nine years. WWF-UK is part of the wider WWF global network. Previously, he spent eight years working in the market’s division at Merrill Lynch in New York within foreign exchange and fixed income sales and trading. His educational background includes a BSc in Economics from the Wharton School [University of Pennsylvania] in the US and a MSc in Environment & Development from the London School of Economics in the UK. His team focus mainly on; sustainable investment and metrics, spatial finance, policy and regulatory work, as well as wider system change in the finance and economic system.

Adam  Kanzer

Adam Kanzer

Head of Stewardship - Americas
BNP Paribas Asset Management

Adam Kanzer is Head of Stewardship - Americas, at BNP Paribas Asset Management (BNPP AM). He leads our firm’s stewardship activities in the region, including direct corporate engagement and proxy voting, working with policymakers on key issues relating to sustainable finance and investment, and representing BNPP AM in key investor ESG networks. He joined us in 2018 and is based in New York. Prior to joining us, Mr Kanzer was Managing Director of Corporate Engagement at Domini Impact Investments. During his 20 years at Domini he built a corporate engagement programme focused on improving the ESG performance of major US corporations, as well as developing Domini’s public policy advocacy programme and proxy voting policies. He has a wealth of experience in a broad range of ESG issues, including climate change, deforestation, labour standards, human rights and supply chain management. He has been an active member of a wide variety of ESG networks and organisations, and has been instrumental in helping companies to evolve their corporate practices in key areas. 

Mr Kanzer served on the Securities and Exchange Commission’s Investor Advisory Committee, and is a founder of the Global Network Initiative, a multi-stakeholder organization addressing threats to freedom of expression and privacy rights in the ICT sector. He currently serves on the Human Rights Advisory Committee of the Interfaith Center on Corporate Responsibility, and the steering committee of the Investor Alliance for Human Rights. He was a member of the Eminent Persons Group that oversaw development of the UN Guiding Principles Reporting Framework. In 2008, he was named to the Directorship 100, Directorship magazine’s listing of the most influential people on corporate governance and in the boardroom. He is a frequent speaker and commentator on sustainable investing and corporate accountability. He began his career as a Litigation Associate at New York law firm Cahill, Gordon & Reindel and has over 20 years of experience. He holds a B.A. in political science from the University of Pennsylvania and a J.D. from Columbia Law School

Hervé   Duteil

Hervé Duteil

Chief Sustainability Officer
BNP Paribas

Hervé Duteil created the position of Chief Sustainability Officer for BNP Paribas in the Americas in 2014.  In this role, he leads the Bank’s regional strategy for Corporate Social Responsibility, Sustainable Finance, and Company Engagement, bringing in particular a strong focus on promoting client dialogue around sustainability topics and the development of tailored financing solutions or responsible investment products.  In 2018, he was selected by Euromoney as one of the 10 “champions of global impact banking”.

Mr Duteil has spent most of his career with BNP Paribas in New York.  He specialized in trading derivatives and managing capital market activities, spanning across commodity, currency, fixed income and electronic markets.  More recently, he led BNP Paribas’ efforts to close its first Social Impact Bond for the benefit of the State of Connecticut, followed by a second one with the Department of Veterans Affairs to provide quality employment to veterans suffering from service-related Post-Traumatic Stress Disorder in the states of New York and Massachusetts. He holds a Masters in Business Administration with distinction from the Harvard Business School, a Master of Science from the University of Cambridge, and a Bachelor of Science in Mathematics & Physics from the University of Paris.  He serves as a member on CFTC’s Climate-Related Market Risk Subcommittee of the Market Risk Advisory Committee, Canada Standards Association’s Technical Committee for the Development of a National Standard for “Green and Transition Finance”, and the Yale Initiative on Sustainable Finance Advisory Board.

Jed Emerson

Jed Emerson

Founder
Blended Value

Jed Emerson is the originator of the concepts of Blended Value and Total Portfolio Management and author of The Purpose of Capital: Elements of Impact, Financial Flows and Natural Being. He has extensive experience leading, staffing and advising funds, firms, social ventures and foundations pursuing financial performance with social/environmental impact. 

In addition to his writing, Jed works with high net worth families to ensure a long-term legacy by managing their full net worth for impact. He also advises investment firms on the implications of impact investing for their practice. Internationally recognized as a thought leader in impact investing, social entrepreneurship and strategic philanthropy, he has played founder roles with some of the nation’s leading venture philanthropy, community venture capital and social enterprises. 

He was twice selected both as one of North America’s Top 100 Thought Leaders in Trustworthy Business Behavior (2012-2013) and by The Nonprofit Times as one of the 50 Most Influential People in the Sector. In 2015, he was awarded a Life Time appointment. With co-author, Antony Bugg-Levine, he was winner of the 2012 Nautilus Gold Book Award for their authorship of the first book on the topic of impact investing. Jed has co-authored seven books on social entrepreneurship and impact investing, as well as papers and articles on those and related topics.

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MODERATORS (3)

Gillian Tett

Gillian Tett

Chair, Editorial Board, and Editor-at-large, US
Financial Times

Gillian Tett is Chair, Editorial Board, and Editor-at-large, US at the Financial Times. She previously served as US Managing Editor, leading the Financial Times’ editorial operations in the region across all platforms. She writes weekly columns for the FT, covering a range of economic, financial, political and social issues throughout the globe. Ms Tett served as Assistant Editor, US Managing Editor from 2010 to 2012, and prior to this Assistant Editor responsible for the FT’s markets coverage. Other roles at the FT have included Capital Markets Editor, Deputy Editor of the Lex column, Tokyo Bureau Chief, Tokyo Correspondent, London-based economics reporter and a reporter in Russia and Brussels.

In 2014, she was named Columnist of the Year in the British Press Awards and also received the Royal Anthropological Institute Marsh Award. She is the author of The Silo Effect: Why Putting Everything In Its Place Isn't Such A Bright Idea (Simon & Schuster, 2015), New York Times bestseller Fool’s Gold: How Unrestrained Greed Corrupted a Dream, Shattered Global Markets and Unleashed a Catastrophe (Little Brown, UK and Simon and Schuster, US, 2009), and Saving the Sun: A Wall Street Gamble to Rescue Japan from Its Trillion Dollar Meltdown (Harper Collins, 2003). Before joining the FT in 1993, Ms Tett was awarded a PhD in Social Anthropology from Cambridge University, where she also earned her Bachelor’s degree.

Billy Nauman

Billy Nauman

Reporter and Producer, Moral Money
Financial Times

Billy Nauman is a reporter and producer for Moral Money, the new digital platform and newsletter from the FT featuring news and analysis about the fast-expanding world of socially responsible business, sustainable finance, impact investing, environmental, social and governance (ESG) trends. Before joining Moral Money, Billy worked in the FT’s Specialist division for nine years as a reporter and editor. Most recently, he was the managing editor of FundFire, the FT’s daily publication covering the U.S. institutional investment industry.

Sarah Murray

Sarah Murray

Specialist Writer on Sustainable Development
Financial Times

Sarah Murray is a Specialist Writer on Sustainable Development and a Non-fiction author and editor. A former Financial Times journalist and long-time Financial Times contributor, she also writes for Stanford Social Innovation Review as well as for universities and foundations. Her work has appeared in publications including The New York Times, The Wall Street Journal, Forbes, the Economist, The Guardian, and the South China Morning Post. She has edited two books on philanthropy and is author of two non-fiction books, Making an Exit: From the Magnificent to the Macabre, How We Dignify the Dead, and Moveable Feasts: From Ancient Rome to the 21st Century, the Incredible Journeys of the Food We Eat.

WHO ATTENDS

This event is designed for senior executives from corporations (from multiple sectors) including:

  • C-Suite
  • Managing Director
  • Head of Global Advocacy and Policy 
  • Head of Governmental Relations
  • Head of Sustainability
  • Head of Investor Relations
  • Head of Public Policy and Social Impact
  • Head of Resilient Supply Chains
  • Head of Corporate Responsibility
  • Head of Company Engagement
  • Head of Global Sustainability Reporting

Within these areas, a limited number of VIP places will be available to selected CEOs.

Other private sector attendees include: 

  • Banks
  • Asset managers
  • Insurance companies
  • Foundations
  • NGOs
  • DFIs  
  • Policymakers 
  • Academics
  • Think Tanks 
  • Advocacy Groups
  • Law firms
  • Credit rating agencies
  • Consultants 
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VENUE

Convene
730 Third Avenue
New York 10017

United States of America

Tel: (646) 854-7950

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BOOK YOUR STAY

Explore our exclusive hotel deals that you can take advantage of while you are staying in New York. View deals and book here

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Lead Sponsor (1)

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 71 countries, with approximately 199,000 employees, of which more than 151,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.

In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending.

BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

Knowledge Partner (1)

McKinsey & Company is a global management consulting firm, deeply committed to helping institutions in the private, public, and social sectors achieve lasting success. For over 90 years, our primary objective has been to serve as our clients' most trusted external advisor. With consultants in over 120 cities in more than 60 countries, across industries and functions, we bring unparalleled expertise to clients anywhere in the world. We work closely with teams at all levels of an organisation to shape winning strategies, mobilise for change, build capabilities and drive successful execution.

In association with (1)

WWF is one of the world’s largest independent environmental organisations, with over five million supporters and a global network active in nearly 100 counties. Since forming as a wildlife conservation organisation almost 60 years ago, WWF now focuses also on addressing the systemic drivers of climate change and the loss of nature globally, including the significant environmental impact of the business and finance sectors. The global economic system is fundamentally dependent on nature – from clean air and a stable climate to productive forests and seas – yet this system still incentivises business to invest in activities that contribute to the environmental crisis. Whether it’s viewed from an economic, social, or environmental perspective, this is simply unsustainable. That’s why WWF is working with key sectors to increase understanding of the risks of doing business in a changing world and the opportunities inherent in building an economic future that protects and restores nature.

PRESENTED BY (1)

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