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Sustainability matters : Best practices and challenges on sustainability data and how to integrate ESG and climate risk into your operating model and risk framework
Journal of Securities Operations & Custody,
16
(2),
180-190
(2024)
Abstract
Securities services companies need to respond to changing risks and the impacts they could have on operational resilience. Much of the focus has been on identifying risks relating to asset protection, or factors that can have an impact on revenue, such as falling interest rates. With the potential threat of climate change on asset prices, and the risk more broadly of climate change to financial markets, custodians need to rethink risk, both at an operational level and how they support asset owners and asset managers to help mitigate these risks.
Keywords: ESG; sustainability; climate risk; biodiversity risk; securities services; sustainable governance; governance
The full article is available to subscribers to the journal.
Author's Biography
Pat Sharman is passionate about sustainable governance with purpose and is invested in making change within the UK finance industry through education and product solutions that help pension schemes and asset managers with sustainable governance challenges, such as environmental, social and corporate governance (ESG) and climate risk. Pat has over 36 years’ experience in securities services and joined CACEIS (formally KAS BANK) in 2015 from HSBC, where she was Head of Relationship Management & Sales, Pensions, Europe. At HSBC, Pat was appointed as a Trustee Director for HSBC Pension Trust (UK) Ltd, one of the largest and best-governed DB and DC pension schemes in the UK. She is currently a trustee for the legacy KAS BANK UK pension scheme. Pat led the development and launch of the UK’s first cost transparency and benchmarking solution for UK pension schemes in 2017. As pensions regulation evolved to focus on ESG and climate risks, Pat has been a driver of educating the industry in respect of these complex subjects. Pat also works works closely with Re-Educating Earthlings, an environmental education platform focused on reconnecting young children in the UK back to nature. Pat is also a Strategic Adviser to the ‘Global Principles for Sustainable Lending’, and is Co-Founder of Everyone Matters, an industry group focused on promoting the importance of diverse decision making to address climate and nature-related risks.
