SFM Board Statement

To All Network for Sustainable Financial Markets Participants,

The Board of the Network for Sustainable Financial Markets (SFM) recently met to approve a new strategy for 2017.

The board consensus was that there is a still need for a participant driven organisation that focuses on long term investing and sustainable financial practices. Examples such as the Climate Bonds Initiative led by Sean Kidney, which originally started as a NSFM working group, demonstrate the value of small groups of dedicated individuals working together on complex problems.

To that end we will continue to focus on providing opportunities for Participants to drive change through activities such as working groups, submissions and webinars. 

 

Communications

The board will seek to increase our level of communications in 2017. We are proposing establishing a quarterly newsletter to enable Participants to provide updates on their own activities and contribute to debates around sustainable financial markets. We will come back to Participants with further details on the newsletter, including establishing an editorial committee, but in the meantime we would ask anyone with an interest in being involved to let us know.

The Board will liaise with Working Groups to increase the level of communication with Participants. We will also seek to engage with individual Participants to understand current areas of focus and explore opportunities for deeper engagement.

 

Finances

The Board agreed to examine reinstating a voluntary participant payment commencing 2017. Our overall costs are very modest and it is not expected that the organisation will incur any significant costs in 2017. The Board will consider this issue further in 2017 and come back to Participants.

 

Board Governance

Gordon Noble has been appointed as President with Cary Krosinsky holding the positions of Secretary and Vice President and Gabriel Thoumi as Treasurer.  We are proposing that overtime we will increase the size of the board. Currently we have eight board members and will look to increase the board size to twelve. This will allow for increased engagement with regions where the board is under represented including Africa, South America and Asia. We will engage with Participants on board governance, including board rotations, further in 2017.

 

Working Groups

The board will focus on increasing the level of communications from working groups to all Participants in 2017. Contact details for our Working Groups and a summary of their objectives follows:

 

Financing Climate Smart Landscapes and Seascapes

The goal of this working group is to increase investment cash flows into the Climate Smart Landscapes and Seascapes.

Tim Gieseke - tgieseke@agresourcestrategies.com

Tanja Havemann - th@clarmondial.com

Gabriel Thoumi - gthoumi@gmail.com

 

Real Assets Working Group

The goal of this working group is to promote the role of real assets transitioning economies to a low carbon footprint and propose market mechanisms and advice to both public sector (government) and private sector (where possible) on proposed policy in order to create positive change in the sector.

Stuart Kay - stuartkay72@gmail.com

Gordon Noble - gordon.noble@sydney.edu.au

 

Japan Working Group

The Working Group’s objective is to advance investment practices that identify and value negative and positive externalities, and efficiently allocate capital to create sustainable financial markets in Japan.

Kazutaka Kuroda - kazutaka@sustainabilefinancialmarkets.net

 

Taxation and Investing Working Group

The objective of this Working Group is to develop a clearer understanding of the options available to policymakers on tax.

Sara Hsu hsus@newpaltz.edu

Joakim Sandberg - joakim.sandberg@filosofi.gu.se

 

Climate Change and Investing

This Working Group originally focused on ways to mobilize institutional investment for a rapid and global shift to a low-carbon economy. A discussion paper was published in mid-2009.  The response to that paper led to the development of The Climate Bonds Initiative, now operating as a separate charity.

Sean Kidney - sean@seankidney.com

Cary Krosinsky - cary@sustainablefinancialmarkets.net

 

Fiduciary Duties of Long-Term Investors

The objective of this Working Group is to develop a clearer understanding of the specific fiduciary duties of agents acting for long-term investors and pension fund beneficiaries.

Keith Johnson – kjohnson@reinhartlaw.com  

Frank Jan de Graaf - frankjandegraaf@xs4all.nl

 

Thank You

Finally we would like to thank all those that supported the Network’s activities in 2016. In particular we would like to acknowledge Stephen Viederman who stepped in as President during the year.

 

We would also note Kazutaka Kuroda and Keith Johnston who have continued to support the Network.

 

We wish you all the best in 2017 and look forward to continuing to engage with you to deliver sustainable financial markets.

 

Angelo Calvello, Director

Daniela Carosio, Director

Jim Hawley, Director

Cary Krosinsky, Secretary, Vice President and Director

Martina Macpherson, Director

Gordon Noble, President and Director

Gabriel Thoumi, Treasurer and Director

Stephen Viederman, Director

 

BOARD MEMBERS

NETWORK SUSTAINABLE FINANCIAL MARKETS

DECEMBER 2016