Sustainable Finance Foundation Course University of Oxford 16-20/21 September 2018
Welcome to the Sustainable Finance Foundation Course In recent years, the potential role of financial markets in driving responses to environmental challenges has become increasingly clear. However, seizing this opportunity will require a concerted effort on the part of all actors to understand the issues and develop solutions. The course has been designed and developed by the Oxford Sustainable Finance Programme at the Smith School of Enterprise and the Environment, University of Oxford as an introduction to sustainable finance for current and future leaders working in a range of sectors, for example: staff at environmental NGOs who would like to help the global financial system create better environmental outcomes; civil servants and regulators working to develop policies that can foster the development of sustainable finance; executives working in financial institutions that need an introduction to sustainability, the environment, and climate change as they relate to finance and investment; philanthropic funders looking to navigate sustainable finance topics so as to support the most impactful activities; and trustees or company directors that want to understand how sustainable finance relates to their fiduciary duties. The residential workshop provides a foundational knowledge in the emerging theories and practice of sustainable finance and investment. It will arm participants with sufficient understanding to navigate and critically analyse the key aspects and developments in sustainable finance and investment, as well as how to engage with financial sector stakeholders for collaboration. The Sustainable Finance Foundation Course is bound to be challenging, stimulating and a unique journey. It is our belief that research, education, and practice must be integrated to best address our future global environmental challenges. Professor Gordon L Clark, Director Smith School of Enterprise and the Environment University of Oxford Key Information Dates: 16-20/21* September 2018 Accommodation: Brasenose College Teaching Venue: Keble College Contact: SFFC@smithschool.ox.ac.uk Website: www.smithschool.ox.ac.uk/courses/sffc/ Price: 3,000 *Extra day for attendees from NGOs/philanthropic foundations Thank you for an inspirational few days that have furnished me with the tools I need to take my work forwards 2017 Feedback
The Oxford Residential The residential workshop will provide a foundational knowledge in the emerging theories and practice of sustainable finance and investment. It will arm participants with sufficient understanding to navigate and critically analyse the key aspects and developments in sustainable finance and investment, as well as how to engage with financial sector stakeholders for collaboration. You will have the chance to: Engage critically with systems and theories in sustainable finance and investment such as: active ownership, carbon bubble, climate finance, conservation finance, disclosure, divestment, engagement, ESG, green banks, green bonds, green indices, impact investing, public private partnerships, reporting, responsible investment, and stranded assets. Translate knowledge, information, and objectives from your work into evidence and motivation for engagement with the financial sector. Frame your objectives in a way that is meaningful to financial decision-makers, exploring questions around: how financial engagement fits with your organisation s broader strategy; and where opportunities for environmental leadership can be expanded. Learn from, challenge, and engage in conversation with leading Oxford faculty and expert practitioners who blend research with experience. They will make palatable cutting-edge theory on sustainable finance and investment using a combination of real world case studies, presentations, online simulations, and debate styled under the Oxford Union. Embark on the unique Oxford experience and explore first-hand the richness that the city has to offer including candlelit college dinners and the opportunity to immerse yourself in one of the global homes of education. Oxford is the first UK University to be no. 1 in the world Times Higher Education World University Rankings 2016 17
Oxford Sustainable Finance Programme The Sustainable Finance Foundation Course is run by the Oxford Sustainable Finance Programme. The Oxford Sustainable Finance Programme is a multidisciplinary research centre working to be the world 's best place for research and teaching on sustainable finance and investment. The Programme is based in the Smith School of Enterprise and the Environment at the University of Oxford and it was established in 2012 to understand the requirements, challenges, and opportunities associated with a reallocation of capital towards investments aligned with global environmental sustainability. We research environment-related risk and opportunity across different sectors, geographies, and asset classes; how such factors are emerging and how they positively or negatively affect asset values; how such factors might be interrelated or correlated; their materiality (in terms of scale, impact, timing, and likelihood); who will be affected; and what affected groups can do to pre-emptively manage risk. We have conducted pioneering research on stranded assets and remain the only academic institution conducting work in a significant and coordinated way on the topic. The production of high-quality research on the materiality of environment-related factors is a necessary, though insufficient, condition for these factors to be successfully integrated into decision-making. Consequently, we develop the data, analytics, frameworks, and models required to enable the integration of this information. We have particular expertise in asset-level data, spatial analysis, scenarios, and stress tests, and also focus on how information is presented and used. We also research barriers to the adoption of practices related to sustainable finance and investment. This includes the role of policy, regulation, governance, incentives, behaviours, and norms in shaping investment decisions and capital allocation. The Programme is based in a world leading university with a global reach and reputation. We work with leading practitioners from across the investment chain (including actuaries, asset owners, asset managers, accountants, banks, data providers, investment consultants, lawyers, ratings agencies, stock exchanges), with firms and their management, and with experts from a wide range of related subject areas (including finance, economics, management, geography, anthropology, climate science, law, area studies, psychology) within the University of Oxford and beyond. "The calibre of speakers was exceptional" All of the detail placed into the course experience was really impressive. Not only did I get an amazing experience I also learned a lot about Oxford. "The Sustainable Finance Foundation Course was expertly lead, taught and administered, with Baliol College serving as a wonderfully historical environment" The content was both varied and comprehensive, and classroom participation was equally diverse and accomplished! 2017 Feedback
Participants On joining the course you will become part of a network of senior practitioners working at the intersection of finance and the environment that will provide knowledge in emerging theories of financial change, risk and opportunity, and an understanding of how to engage with financial sector stakeholders. We are proud of the diverse audience which the course attracts; in 2017 we had individuals from 35 different organisations and 20 different nationalities. Previous participants have attended from organisations including: Deutsche Bank Bank of China UK Department for Business, Energy and Industrial Strategy Christian Aid United Nations CDP WWF European Climate Foundation They have also held job titles such as: Principal Environmental Consultant Managing Director Climate Change Senior Advisor Head of Field Programmes Technical Specialist, Responsible Investment Attendees will have the opportunity to also remain connected with their peers, and engage with participants across cohorts by joining and contributing to our Sustainable Finance LinkedIn Group.
Course Directors Dr Ben Caldecott is the founding Director of the Oxford Sustainable Finance Programme at the University of Oxford Smith School of Enterprise and the Environment. The Oxford Sustainable Finance Programme is a multidisciplinary research centre working to be the world s best place for research and teaching on sustainable finance and investment. Ben is concurrently an Academic Visitor at the Bank of England, a Visiting Scholar at Stanford University, a Senior Advisor at Highmore LLC, and a Senior Associate Fellow at Bright Blue. He serves on a number of boards and advisory panels, including the UK Green Finance Taskforce, City of London Green Finance Initiative, University of Oxford Socially Responsible Investment Review Committee, The Prince of Wales s Accounting for Sustainability Project, and the Green Alliance. Dr Caitlin McElroy is a Departmental Research Lecturer and Director of Executive Education Programmes at the Smith School of Enterprise and the Environment. Her research has revolved around the interactions between the mining industry, environment, and development. She is currently developing a programme: Sharing Resource Prosperity that explores the improved environmental sustainability and development of resource driven economies. Her first degree is from the University of Pennsylvania in History and Environmental Studies (Hons) followed by an MSc in Nature, Society and Environmental Policy (Dist) from the University of Oxford. She holds a DPhil from the University of Oxford in Economic Geography that was funded through a Clarendon Scholarship. Previous Speakers: Emma Howard Boyd, Chair, Environment Agency Richard Nourse, Managing Partner, Greencoat Capital Dr Paul Jepson, Course Director of the MSc in Biodiversity, Conservation and Management, School of Geography and the Environment Peter Wheeler, Executive Vice President, The Nature Conservancy Jane Ambachtsheer, Partner and Head of Responsible Investment, Mercer Investments Michael Sheren, Senior Advisor, Bank of England Charlie Kronick, Senior Climate Advisor, Greenpeace UK Established in 2016 the Sustainable Finance Foundation Course is now in its third year
Indicative Timetable The agenda below is for illustrative purposes only, and whilst representative of the course from previous iterations there will likely be some modifications. Please note that day 5 is only made available to attendees from NGOs and philanthropic foundations. Day 1 Principles of Finance and Investment Day 2 Opportunities Day 3 Risk and Oxford Union Debating Day 4 Wargame and Capstone Project Day 5 Extra Day for NGOs and Philanthropy 09.30-11.00 Introduction to SFFC 09.30-11.00 Infrastructure 09.30-11.00 Stranded Assets 09.30-11.00 2 Degrees Pathway 09.30-11.00 Framing Finance, Investment Wargame - Part 1 Networks and Challenges 11.00-11.30 11.00-11.30 11.00-11.30 11.00-11.30 11.00-11.30 11.30-13.00 Origins and Purpose of 11.30-13.00 Case Study: Green 11.30-13.00 Case Study: Climate 11.30-13.00 2 Degrees Pathway 11.30-13.00 Case Study: Greenpeace Finance Bonds Change and Financial Wargame - Part 2 Regulation 13.00-14.00 Lunch 13.00-14.00 Lunch 13.00-14.00 Working Lunch 13.00-14.00 Lunch 13.00-14.00 Lunch 14.00-15.30 The Financial System 14.00-15.30 Biodiversity and Nature 14.00-16.30 Oxford Union Debates 14.00-15.30 Capstone Project Design 14.00-15.30 How to Effectively and the Investment and Objectives Speak to and Engage Chain with Investors 15.30-16.00 15.30-16.00 15.30-16.00 15.30-16.00 15.30-16.00 16.00-17.30 Key Concepts and Instruments - From Bonds to Balance Sheets 16.00-17.30 Case Study: Investing in Nature in Practice 16.00-17.30 Expert Panel Discussion 16.00-17.30 Project Development and Programme Synthesis 16.00-17.30 Fossil Fuel Divestment and Risk Creation 19.00 Drinks and Dinner in an Oxford College with a Guest Speaker 17.30 Oxford Walking Tour 17.30 Drinks and Dinner in an Oxford College with a Guest Speaker 17.30 Course End 17.30 Free Evening The week was incredibly valuable in addressing some of the key challenges in propagating impact investment solutions in particular increasing the cross fertilisation of specialist knowledge between the financial and NGO worlds. This was reflected very strongly on the final day for NGOs with the focus on how to communicate with investors I took a lot of very clear, practical messages away from this day. 2017 Feedback
Capstone Projects Over the subsequent six to nine months you will engage in an extended learning project implementing a realworld project related to finance and sustainability. It is intended to demonstrate application and growth from course learning. The capstone project can be on anything as long as it is related to sustainable finance and investment. It can be a personal project, a project as part of your job, a campaign, a commercial venture, a research project, or something else. The Course Directors will help you along the way, for example, by providing feedback and introductions to people that might be able to help. You will also be supported by the network of peers from your cohort. Examples of projects may include: An investment case or financial argument to present to an investment institution; An advocacy campaign or strategy to leverage the influence of markets and finance for environmental benefit; A substantive alternative project of relevance to the participant's work (subject to faculty approval). Fees The course fee is 3,000 per person which includes all teaching costs, en-suite accommodation at an Brasenose, breakfast, lunch and several dinners. It does not include the cost of travel to and from Oxford, visas, or any personal expenses you may incur.
Applications The course has been fully-subscribed for both the 2016 and 2017 iterations so we strongly encourage you to apply early. In order to apply please download an application form from our website and return it to: sffc@smithschool.ox.ac.uk along with a copy of your CV. Applicants will be expected to demonstrate their suitability for the course in terms of: The relevance of the course to their occupation and organisation Their experience and potential, particularly in areas related to course content Their initial objectives for learning and their intentions for their capstone project We accept applications on an ongoing basis, however all bursaries will be allocated by 1st June 2018 so you must apply for the course before this date if you wish to be considered for sponsorship. Note that bursaries are only available to individuals from charities. Following receipt of a completed application form, applicants are reviewed for suitability to the course. If the application is accepted, notification is sent with a link for online payment. Payment is due within 30 days of notification of acceptance, or 6 weeks before commencement of the course, whichever is sooner. Registrations are confirmed on receipt of full payment of the course fee. Places are allocated in order of receipt of payment. Prices are subject to periodical revision.