The second in a series of three webinars on the topic of "Climate Change: The Devil is in the Details" discusses carbon metrics for portfolio construction and reporting and notably the use and misuse of Enterprise Value for normalisation of emissions in the context of the December 2020 Delegated Regulation laying out standards for EU Climate Benchmarks.
Overview
Webinar 2 of the "Climate Change: The Devil is in the Details" series
As part of its webinar series on "Climate Change: The Devil is in the Details", Scientific Beta is very pleased to present a series of three webinars.
This second webinar discusses carbon metrics for portfolio construction and reporting and notably the use and misuse of Enterprise Value for normalisation of emissions in the context of the December 2020 Delegated Regulation laying out standards for EU Climate Benchmarks.
It distinguishes between the carbon metrics needs pertaining to portfolio construction and those pertaining to reporting, reviews common carbon footprinting and exposure metrics identified by the Task Force on Climate-related Financial Disclosures, and discusses issues linked to the introduction by the European Commission of an alternative, enterprise-value based version of the popular weighted average carbon intensity indicator.
The webinar shows how the variation introduced by the regulator encourages greenwashing by promoting portfolio construction approaches that afford insufficient consideration to real-economy, issuer-level progress on emissions mitigation. It concludes with index methodology due diligence advice for investors concerned with real-world impact.
Hosts
Erik Christiansen, ESG & Low Carbon Solutions Specialist, Scientific Beta
Erik Christiansen is an ESG & Low Carbon Solutions Specialist with Scientific Beta. He was previously Head of Investment Strategy with the Etablissement de Retraite Additionnelle de la Fonction Publique (ERAFP), the mandatory pension scheme for French civil servants, where he was responsible for implementing the equity and ESG strategies. He has also previously worked as a Methodology Coordinator and Analyst at Vigeo Eiris, the ESG rating agency. Erik holds a Master’s degree in Management from the ESCP Business School and is a CFA charterholder.
Frédéric Ducoulombier, ESG Director, Scientific Beta
Frédéric Ducoulombier is ESG Director at Scientific Beta. From 2015 to 2019, he was in charge of risk and compliance for Scientific Beta having previously served EDHEC Business School’s risk and investment management research centre for 10 years as the founding Director of EDHEC-Risk Institute’s executive education arm and of EDHEC Risk Institute–Asia. At EDHEC, he also taught economics and finance, managed graduate programmes and served as Deputy Associate Dean of Graduate Studies and Deputy Associate Dean of Research and Development. His research and advocacy work has focused on the purported risks of exchange traded funds, the governance and transparency of financial indices, non-financial risks in the fund management industry, smart beta and factor investing and the integration of environmental, social and governance criteria into investment. He was a member of the Consultative Working Group of the ESMA Financial Innovation Standing Committee from February 2015 to January 2017.