May 1, 2019

Moving Asset Owner Organizations To Sustainable Investing: Advice From A Truly Expert Panel

“In general, we find that asset owners are resource-challenged, especially on sustainability issues. This needs to change…..it is one thing to build a solid plan surrounding issues of sustainability, and another to execute that plan well.”

“The recommendations speak for themselves, so please read them, think about them, and most of all, adapt and adopt them.”

CARY KROSINSKYEXPERT NYSCD PANEL MEMBER

A Truly Expert Panel

The quotes above come from a Top1000Funds article by Cary Krosinsky on a just-released set of recommendations by an awkwardly-named body, the New York State Common Decarbonization Panel. The title of its Report is equally awkward: “Decarbonization Panel Beliefs and Recommendations”. Don’t let the awkwardness fool you. This is a great piece of work by a truly expert panel.

This Letter takes Cary Krosinsky at his word by reading and thinking about the Panel’s recommendations, and adapting them to a broader context. That broader context is the global asset owner community at large. As we show below, the Report embodies unique insights relevant for the many asset owner organizations now en route to adopting their own version of the sustainable investing paradigm.i The Letter ends with a few of our own thoughts on the “resource-challenged” issue raised by the Panel. 

The uniqueness of the Report starts with its six authors. They came together a year ago with diverse sets of expertise and work backgrounds. Alphabetically:

  • Cary Krosinsky: educator, author, and senior advisor in the global sustainable finance field
  • Bevis Longstreth: legal expert, author, former SEC Commissioner, corporate director
  • Alicia Seiger: educator, author, integrator across fields of law, finance, energy, and climate
  • George Serafeim: educator and researcher in finance/investments, ranked in the top 20 in SSRN article citations out of 12,000 authors
  • Tim Smith: shareholder engagement expert, champion for business ethics
  • Joy Williams: professional engineer, climate change expert, global advisor to governments and asset owners, she acted as Chair of the Expert Panel

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