This Long Finance / London Accord conference explores the relationship between prosperity, resource scarcity and finance. The conference takes the form of a keynote speech, delivered by Professor Paul Ekins of the UCL Energy Institute, followed by two panel discussions - "Prosperity and Resource Scarcity - What Role Should Finance Play?" and "Finance, Biodiversity and Managed Ecosystems - Where's the Data?".
James Stacey is a Partner at Earth Capital Partners LLP (ECP) with responsibility for ECP's sustainable finance strategy and integration of Environment, Social and Governance (ESG) issues into investment analysis and portfolio management and reporting. ECP is an asset manager with a focus on investment in sustainable asset infrastructure, including renewable energy, sustainable agriculture and forestry.
Prior to joining ECP, James was Head of Sustainable Business at Standard Chartered plc, with group wide responsibility for sustainable business, comprising a results/outcomes focused commercial strategy incorporating new products and revenue lines, risk management, operating efficiencies and stakeholder relations. Previously, James was Head of KPMG's Sustainability Consulting Practice and earlier, KPMG's Environment M&A Advisory business. James has over 18 years of broad sector experience in both corporate and consulting organisations. He began his career as an environmental engineer, providing 'construction quality assurance' for waste management and pollution control solutions.
James is currently a member of the BBC's independent Sustainability Advisory Committee; Senior Associate for the University of Cambridge Programme for Sustainability Leadership (CPSL); Faculty for the CPSL 'Climate Leaders Programme'; and member of the Global Impact Investing Network (GIIN) European Steering Committee.
Ivo Mulder is a Programme Officer for the UN Environment Programme – Finance Initiative (UNEP FI), based in Geneva. UNEP FI is a strategic partnership between UNEP and nearly 200 global financial institutions. He is responsible for managing UNEP FI’s work on biodiversity, ecosystem services and water.
Prior to taking up this post, he worked as a consultant for Triple E – a Dutch advisory firm that operates at the intersection between economy and ecology. He set up a Swiss counterpart of the firm, and acquired projects for the company, and supported these to completion. Mr. Mulder also worked for the Dutch National Fund for Rural Areas (National Green Fund), an organization, which advocates optimum use of government funds for investment in nature and landscape, and the activation of private sources of funding for rural areas in the Netherlands.
Other professional experiences include working as an environmental finance consultant for KPMG Sustainability and Sustainable Finance Ltd., as a junior professional associate for the World Conservation Union (IUCN) in China and Switzerland, for Forest Trends (a Washington D.C.-based NGO), for Wageningen University and the Foundation for Sustainable Development.
Ivo has written numerous articles and other publications on the business rationale to better account for environmental, social and governance (ESG) issues by financial institutions and other businesses. The last few years his focus has centred on demystifying the materiality for financial institutions to better integrate aspects of biodiversity and ecosystem services and water issues in lending and investment policies of banks and other financial institutions. He earned his BSc and MSc degrees in Environmental Sciences from Wageningen University, with a specialization in ecological and environmental economics.
David Hill is Chairman and co-founder of The Environment Bank Ltd, Deputy Chair of Natural England and a member of the Board of the UK government’s Joint Nature Conservation Committee. Over the past three years he has been actively involved in promoting new and innovative ways of mitigating for impacts on ecosystem services arising from development and business through the use of habitat or mitigation banking.
He has a doctorate in ecology from the University of Oxford and has worked for a number of NGOs before establishing one of the first environmental consultancies in the UK, which he merged with a plc in 2002.
He has a strong professional interest in biodiversity conservation and, as a result of over 20 years working in the planning and development control sector, believes that the majority of development should pay the true cost of the use of land through implementing a policy for habitat banking, making landscapes more resilient, increasing biodiversity and providing better places for people to enjoy.
The Environment Bank Ltd is the first company of its kind in the UK. It develops the ideas and mechanism for funding enhancements to the natural environment from development and holds a register of potential contributor landowners. It is likely that emerging environmental markets will focus on offsetting ecosystem service impacts and The Environment Bank is working to provide the necessary infrastructure to facilitate these markets.
Dr Patenaude was awarded a PhD from the University of Oxford in 2006 and has since taken a lectureship position at the University of Edinburgh. Her key research interests are in ecosystem services, forests and carbon management.
She is currently leading a NERC-funded network on forest and finance risks as well as a NERC-DFID-ESRC funded research project on Forest Ecosystem Services and Poverty Alleviation (www.esi.ac.uk/espa). She is also involved in the development of a mission concept for a Spaceborne Multispectral Lidar (NERC NCEO). Dr Patenaude has authored several peer-reviewed publications and is one of the contributing authors to the Nobel Price winning Integovernmental Panel on Climate Change reports (Good Practice Guidance for Land Use Change and Forestry).
In order to build capacity and knowledge of the private sector, Dr Patenaude took a career break in 2008 to pursue an MBA (HEC Mtl, graduated with distinction). She has since contributed strategic expertise to the consulting firm McKinsey & Company; has been involved in setting up Ecometrica Ltd. (www.ecometrica.co.uk) a company of specialists and experts in greenhouse gas (GHG) accounting and ecosystem services; and co-founded cArbomap Ltd. (www.carbomap.com), which develops new technologies for measuring and mapping forest carbon (a key development being a multispectral canopy lidar optimised for forest applications, patent P136237.GB.01/GRAYJ 2008). Her awards and grants total around €0.75M.
Since September 2009, Dr Tim Morgan has been Global Head of Research at Tullett Prebon. Though his research has covered a wide range of issues including global economic prospects, geopolitics, fiscal sustainability and inter-generational resource transfers, his main focus is on the new discipline of “Exponential Energy Economics” (EEE). This new philosophy argues that the global economy consists of a series of population, economic and financial exponentials made possible only by exponential access to surplus energy, and addresses the issue of what might happen if the energy exponential were to continue to weaken. This issue is to be explored in more detail in his forthcoming book, provisionally entitled Life After Growth.
Dr Morgan read history and political philosophy at Emmanuel College, Cambridge before joining stockbrokers Wood Mackenzie as a trainee in 1982. He moved to Montagu Loebl Stanley the following year, shortly thereafter assuming responsibility for the firm’s oil and gas research. In 1985, he joined the stockbroking subsidiary of Exco, which became part of Banque Indosuez in 1986. After a short period with a boutique broker, he established an energy sector research consultancy in 1990. During this period he developed the value-based VVM™ analysis system. Between 1995 and 2006, Dr Morgan was consultant energy analyst at stockbrokers Collins Stewart. He joined Shore Capital Group, again as a consultant energy analyst, in May 2007, but, in February 2009, was invited to formalise a role that he had been carrying out for some time – that of economic and market strategist.
Emin Eyi is a partner at SP Angel Corporate Finance – a boutique corporate finance company and member firm of the London Stock Exchange – where he is responsible for the natural resources practice. He has most recently worked at Goldman Sachs as a specialist hedge fund sales person. He was responsible for identifying and structuring new investment products for the global hedge fund community across all asset classes.
Prior to this, he worked at HSBC Investment Bank as head of sales and research for the mining, utilities and technology sectors. He provided institutional investor research on numerous companies in these sectors and was active in many fund raisings. He has a Masters degree from Imperial College, London, in mining, oil and gas with a particular specialisation in the environmental and financial aspects of the resource industry.
Charles Secrett is a Founder of The Robertsbridge Group, an Advisor on Climate and Sustainability, and a Senior Associate of the University of Cambridge Programme for Sustainability Leadership. He has been Chair of the Board of Triodos Bank’s investment fund Triodos Renewables since 2004. Between 2004 and 2008, he was a Special Advisor on Climate, Environment and Sustainability for The Mayor of London, a Board Member of the London Development Agency and Chair of its Health and Sustainability Advisory Group. He was a member of the UK Government's Roundtable (then Commission) for Sustainable Development for ten years. Executive Director of Friends of the Earth (1993 to 2003), Charles led its transformation into becoming the UK's most effective campaign organisation for many years. Amongst other jobs, he previously worked on a variety of environmental research and investigation projects in Brazil, Costa Rica, Malaysia, Nicaragua and Nigeria.
Paul Ekins PhD, MSc (Econ), MPhil (Peace Studies), BSc (Eng) has a PhD in economics from Birkbeck College, and a BSc in electrical engineering from Imperial College (both University of London). He is Professor of Energy and Environment Policy at the UCL Energy Institute, University College London. He is a Co-Director of the UK Energy Research Centre, in charge of its Energy Systems theme, and also leads UCL’s involvement in large research consortia on Bioenergy and Hydrogen. He is also Chairman of the National Industrial Symbiosis Programme (NISP), the UK’s most effective initiative at promoting resource efficiency in industry, and the Director of the UK Green Fiscal Commission, which is exploring the prospects for and implications of large-scale environmental tax reform in the UK. He was a Member of the Royal Commission on Environmental Pollution from 2002-2008 and, from 2003-2007, was on the UK Government’s Sustainable Energy Policy Advisory Board. He also has extensive experience consulting for business, government and international organisations.In 1994 Paul Ekins received a Global 500 Award ‘for outstanding environmental achievement’ from the United Nations Environment Programme.
Paul Ekins’ academic work focuses on the conditions and policies for achieving an environmentally sustainable economy, with a special focus on energy and climate policy, and the modelling of the energy system; on innovation; on the role of economic instruments such as environmental taxes; on sustainability assessment; and on environment and trade. He is the author of numerous books, papers and articles on environmental taxation and other sustainable development issues, including Economic Growth and Environmental Sustainability: the Prospects for Green Growth (Routledge, London, 2000).
Alderman Professor Michael Mainelli is Emeritus Mercers' School Memorial Professor of Commerce at Gresham College, having held the chair from 2005 to 2009. His first degree was in Government from Harvard, followed by mathematics and engineering studies at Trinity College Dublin and a PhD from the London School of Economics in chaotic systems, where he was also a Visiting Professor.
Professor Mainelli is Executive Chairman of Z/Yen, the City of London’s leading commercial think-tank and venture firm, which he co-founded in 1994 to promote societal advance through better finance and technology. A qualified accountant (FCCA), securities professional (FCSI), computer specialist (FBCS) and management consultant (FIC), Michael began his career as a research scientist in aerospace (rockets) and computing (architecture & mapping). He later became a senior partner with accountants BDO Binder Hamlyn directing global consulting projects. During the 1990s he worked for the UK Ministry of Defence as Corporate Development Director for Europe’s then largest R&D firm, the Defence Evaluation & Research Agency leading to two privatisations. Career highlights include directing Z/Yen’s Long Finance initiative with Gresham College and the City of London Corporation asking “when would we know our financial system is working?” as well as creating the Global Financial Centres Index, Global Intellectual Property Index, London Accord and Farsight Award. Michael also conceived and produced the first complete digital map of the world in 1983, Mundocart (a 1980’s Google Earth), and the $20 million Geodat consortium cartography project.
Michael is non-executive Director of the United Kingdom Accreditation Service (UK’s national body for standards and laboratories), AIM-listed Sirius Minerals plc (potash mining), AIM-listed Wishbone Gold Plc; Alderman for Broad Street Ward (elected) at the City of London Corporation; Almoner for Christ’s Hospital School; Trustee of International Fund for Animal Welfare. Michael has held numerous advisory posts, for example with Hitachi UK, City University and HM Treasury. Michael won a 1996 UK Foresight Challenge award for the Financial Laboratory, 2003 UK Smart Award for prediction software, 2005 British Computer Society Director of the Year, 2011 Technology Strategy Board Challenge Award for financial avatars, and was awarded Gentiluomo of the Associazione Cavalieri di San Silvestro in 2011. Michael is a Liveryman, Worshipful Company of World Traders, Freeman, Watermen & Lightermen, and represents the Financial Services Group of Livery Companies.
Michael has published over 40 journal articles, 150 commercial articles and four books. Michael’s humorous risk/reward management novel, Clean Business Cuisine: Now and Z/Yen, written with Ian Harris, was a Sunday Times Book of the Week in 2000; Accountancy Age described it as “surprisingly funny considering it is written by a couple of accountants”. Their third co-authored book, The Price of Fish: A New Approach to Wicked Economics and Better Decisions, based on his Gresham lectures, won the 2012 Independent Publisher Book Awards Finance, Investment & Economics Gold Prize. Michael plays bagpipes, loves skiing and sailing and, with his wife, Elisabeth, he races and restores the 1923 Thames Sailing Barge Lady Daphne and sits on the world’s oldest sailing racing body, the Thames Match Committee. With an international family, Michael speaks English, German, French and Italian poorly, but even worse Spanish and Chinese.
To access all of Professor Mainelli's previous Gresham College lectures, please click here.