Sustainability Forum: The Rise of Sustainable Finance

Over the past several decades, companies and investors have increasingly been cognizant of the potential negative externalities of their activities and investments and have sought to minimize those. More recently, many organizations have begun monitoring the ESG (environment, social and governance) implications of their operations.  In the past several years, a sub-set of those companies and investors have sought to have a proactive impact with their activities and investments by seeking ways to address environmental, social and economic challenges more effectively and efficiently.

As a growing number of private sector players are engaging in sustainable investments, new models and financing approaches are emerging. Innovative approaches to financing economic, social and environmental challenges are emerging such as pay for success models and outcome funds.

At the same time, the international community is working towards achieving a set of Sustainable Development Goals (SDGs). Such a holistic agenda requires new approaches to addressing economic, social and environmental challenges as well as financing. A strong emphasis will be needed on using public resources more strategically and on catalysing private resources targeted towards achieving the sustainable development goals. New models of public and private partnership are needed which can fund, deliver and scale innovative solutions to these challenges.

Discussion questions:

• How are trends in sustainable finance evolving globally, in Europe and the Baltic region?
• What is needed to encourage more investors to progress from risk migration to seeking positive social and environmental impact as well?
• What role can policy play in facilitating the development of the market?

AGENDA

12:30   Registration

13:00   Welcome & Opening

Anders Paalzow, Rector, SSE Riga

Alda Ozola, Deputy State Secretary, Ministry of Environmental Protection and Regional Development of Latvia

13:30   Keynote: The rise of Sustainable Finance

Introduction: Karen Wilson, Office of the Secretary-General, OECD and Visiting Lecturer, SSE Riga

Keynote: Christopher Flensborg, Head of Climate & Sustainable Finance, SEB, Sweden

Q&A

14:30   Coffee Break & Presentation of the 25th Anniversary Book of SSE Riga

14:45   Panel:  The Baltic experience

Speakers:

• Evija Tambaka, CBL Asset Management, Latvia
• Irina Kuzmina, Swedbank & co-chair of the Sustainable Finance Working Group, Finance Latvia
• Jaan Aps, Stories For Impact, Estonia

Moderator:  Karen Wilson, Office of the Secretary-General, OECD and Visiting Lecturer, SSE Riga

16:00  Student Oxford Style Debate

The Business Roundtable recently released a statement that redefines the purpose of the corporation, moving away from shareholder primacy to include a commitment to all stakeholders.

MOTION: “This house believes that one and only one social responsibility of business is to increase its profits so long as it stays within the rules of the game”

SPEAKERS: Student and faculty teams will debate each side (shareholder primacy vs commitment to all stakeholders)

Debaters:

• Yuri Romanenkov, Executive Vice President and Chair of Executive Programmes, SSE Riga
• Dr Dmitrijs Kravcenko, Assistant Professor, SSE Riga
• Roberts Salenieks, SSE Riga Debate Society
• Yupu Chen, SSE Riga Debate Society
• Krisjanis Krakops, SSE Riga Debate Society

VOTING: Audience poll (shareholder primacy vs commitment to all stakeholders)

Chair: Anders Paalzow, Rector, SSE Riga

16:15   Closing session/wrap up

Anders Paalzow, Rector, SSE Riga

16:30   Adjourn