25 nov 2021
Impact Measurement and Management
Un confronto tra imprese, investitori e accademia sulle strategie per l’impatto sociale e ambientale.
Il 25 novembre presso il Milano Luiss Hub si terrà l’evento “Impact Measurement and Management“, organizzato dall’osservatorio GIIM – Governance Innovations Impact Management nato nel 2019 dalla collaborazione tra Italiacamp e Luiss Guido Carli.
Un’occasione di confronto sulle evoluzioni compiute dal mondo della ricerca e dalle organizzazioni che si stanno impegnando nel tentativo di pianificare, gestire, misurare e riportare l’impatto sociale e ambientale, e sulle aspettative degli investitori e dei gestori patrimoniali.
- Cos’è l’impatto?
- Quali sono gli strumenti che consentono alle organizzazioni di gestire e valutare il proprio impatto sulla società?
- Come tutto ciò incide sulle scelte di investimento?
- La finanza sostenibile è finanza d’impatto?
L’evento è strutturato in un format ibrido che promuove il confronto tra accademia e impresa e vedrà il contributo di Jed Emerson, autore di “Purpose of Capital” e di Paul Herman, editor del “Global Handbook of Impact Investing”.
Durante la giornata verranno lanciate due call, una rivolta all’accademia e l’altra al mondo aziendale.
9.45 From Purpose to Impact
Se le organizzazioni contemporanee intendono perseguire la creazione di valore sostenibile devono organizzare il proprio pensiero attorno a una serie di elementi interconnessi: passare dal purpose (“perché”) alla strategia (“cosa”) e dall’innovazione (“come”) all’impatto (“dove”).
Fabrizio Sammarco | Corporate Coordinator GIIM; CEO Italiacamp; Adjunct Professor Luiss Guido Carli
Cristiano Busco | Scientific Coordinator GIIM; Full Professor of Accounting, Reporting & Sustainability Luiss Business School and University of Roehampton
Jed Emerson | Managing Director Global Lead Impact Investing Tiedemann Advisors; Author of “Purpose of Capital”
R. Paul Herman | CEO & Founder HIP Investor; Editor of “Global Handbook of Impact Investing”
Antonio Solinas | CEO Deloitte Financial Advisory
10.30 Impact Measurement and Management: Corporate Perspective
Pianificazione, misurazione e rendicontazione dell’impatto offrono approfondimenti sul valore creato, preservato o eroso da un’organizzazione, come capitale umano, sociale, relazionale e naturale impiegato nel raggiungimento dello scopo aziendale.
Cristiano Busco | Scientific Coordinator GIIM; Full Professor of Accounting, Reporting & Sustainability Luiss Business School and University of Roehampton
Francesco Checcacci | Partner Deloitte Financial Advisory
Alberto Mina | Institutional and International Relations, Communication and Marketing Director Arexpo
Tjeerd Krumpelman | Global Head of Advisory, Reporting & Engagement ABN AMRO Bank
Alessandro Rizzello | Adjunct Professor of Social & Sustainable Finance University of Magna Graecia Catanzaro
12.00 Impact Measurement and Management: Investor Perspective
Impatto sociale e sostenibilità ambientale stanno diventando cruciali per aziende, investitori e asset manager di tutto il mondo che riconoscono sempre di più come il modo in cui un’organizzazione gestisce tali temi ESG incida sulle performance aziendali e finanziarie.
Costanza Consolandi | GIIM Scientific Team, Associate Professor of Corporate Finance University of Siena
Herman Bril | CEO Asset Management Arabesque
Helen Chiappini | Tenure-track Assistant Professor of Banking and Finance G. D’Annunzio University
Alberto Matellán | Chief Economist MAPFRE
Maria Teresa Zappia | Deputy CEO, Chief Impact & Blended Finance Officer BlueOrchard
13.00 Call for Best Practices & Call for Special Issue
Elisabetta Scognamiglio | GIIM Corporate Team; Head of Communities Domain Italiacamp
- Per aziende e istituzioni finanziarie: call per la realizzazione di un handbook pubblicato dalla casa editrice Routledge, dove saranno raccolte best practices a livello nazionale.
- Per le università: call for paper per la pubblicazione di una special issue su Accounting, Auditing and Accountability Journal.
Modera: Elisabetta Pessano | Chief Communications Officer Italiacamp
Founder and CEO – since 2014 – of Italiacamp and Adjunct Professor of Impact and Innovation at the Department of Business and Management – Luiss Guido Carli. Member of the Former Aspen Junior Fellow group, of the “Centre for Research in Leadership, Innovation, and Organization” and of the “Centro di Ricerca Internazionale per l’Innovazione Sociale” of Luiss Guido Carli, where he graduated in Political Science. He majored in Business and Communication at Harvard University and was a researcher in Washington D.C. at the International Public Management Association for Human Resource. He completed an International PhD at the International School of Labour Relations Law of the Marco Biagi Foundation at the University of Modena and Reggio Emilia.
Full Professor of Management Control, Reporting and Sustainability at Luiss Guido Carli University and Senior Faculty of Luiss Business School. After obtaining his PhD in “Accounting and Finance” at Manchester Business School (UK), Prof. Busco previously taught in the United States (University of Southern California, Los Angeles, and Babson College, Boston), United Kingdom (Manchester Business School), Ireland (National University of Ireland, Galway) and Italy (University of Siena). He is the author of numerous academic and professional national and international publications on these topics. He is a consultant and trainer in national and international companies of different sectors. In terms of “Engagement and Impact” Prof. Busco is Co-Chair of the Strategy and Integrated Thinking Group of the Value Reporting Foundation (the new organization resulting from the merger between IIRC – International Integrated Reporting Council and SASB – Sustainability Accounting Standards Board).
Jed joined Tiedemann as the Global Lead of Impact Investing after serving on the Firm’s Impact Advisory Council from 2018-2021. Jed oversees the strategy and implementation of Tiedemann’s impact investing practice and focuses on deepening the firm’s expertise and capabilities as well as helping identify effective impact solutions.
Jed has founded or co-founded some of the nation’s leading impact investing, venture philanthropy, community venture capital and social enterprises. He is Senior Fellow with ImpactAssets, a nonprofit financial services Firm. From 2011 to 2017, he was also senior strategic advisor to five family offices with over $1.4 billion in total assets, each executing 100 percent impact/sustainable investment strategies with their total net worth. Jed has authored numerous articles and papers on social entrepreneurship and investing, including “Impact Investing: Transforming How We Make Money While Making a Difference,” winner of the 2012 Nautilus Gold Book Award and the first book on impact investing. In 2018, he released his eighth book, titled “The Purpose of Capital.”
Originator of the concept of Blended Value, Jed has given presentations at The World Economic Forum, The Clinton Global Initiative, The Skoll World Forum and countless other conferences and professional meetings around the world. He is a Senior Fellow with the Center for Social Investment at Heidelberg University (Germany) and the Center for Sustainable Finance and Private Wealth at the University of Zurich, and has held faculty appointments with Oxford University, Harvard, Stanford and Kellogg business schools.
R. Paul Herman
R. Paul Herman is a Research Fellow at the Global Institute for Sustainable Prosperity, and founder and CEO of HIP Investor. He is a globally recognized leader and author in sustainable finance, impact, ESG, and SDG measurement — and investing to pursue positive impact and profit. HIP (Human Impact + Profit) Investor produces and licenses 130,000 impact investment ratings of 10,000 global equities, 119,000 muni bonds, and 1,000 mutual funds and ETFs, including for 401(k) plans. HIP also manages diversified, fossil-fuel-free portfolios for investors. Herman is the author of The HIP Investor book (Wiley, 2010) and co-editor and co-author of the Global Handbook of Impact Investing (Wiley, 2021), both available in print and e-book, and both dedicated to the strong women of the world.
Herman is a graduate of the Wharton School of Finance at the University of Pennsylvania, advised Boards and executives while with McKinsey and Company, found and funded social entrepreneurs at Ashoka.org, and shaped and measured impact investments at eBay founder Pierre Omidyar’s Network. Herman is an advisor to the Sustainability Accounting Standards Board (SASB), Net Impact and Sustainable Brands.
HIP Investor Ratings measure the future risk, return potential and net impact (ESG) of 10,000 global equities, 119,000+ bond issuers, and 1,000+ funds for investors, family offices, family foundations, fiduciaries, wealth advisors, fund managers, hedge funds, and retirement plans, including 401(k)s. HIP Ratings are integrated into the Peter Drucker Management 250 Index published annually in the Wall Street Journal, and several years of the annual Newsweek Green Rankings.
HIP’s ESG Strategies and ESG Portfolios allocate across sustainable equities, REITs, and funds/ETFs to thematically invest in “great places to work,” “sustainable real estate,” and fossil-fuel-free approaches to achieve the Sustainable Development Goals (SDGs) and targeted impact goals.
Herman’s 2010 textbook, ebook, and audiobook — The HIP Investor; Make Bigger Profits by Building a Better World, published by John Wiley & Sons — is included in 28 university, MBA and MPA curricula worldwide on finance, capital markets and impact investing, including Stanford University. Herman is the co-editor of a 2021 textbook and e-book, Global Handbook of Impact Investing, comprising 30 chapters from 50 authors, published in by John Wiley & Sons and available around the world in print and online.
Herman’s and HIP’s insights have been published in Barron’s, The Wall Street Journal, The New York Times, Fortune, Forbes, Fast Company, BusinessWeek, CNN, Reuters, and CNBC.
Herman founded HIP Investor 15 years ago to show that investments across all asset classes can solve human, social and environmental problems — and can be more profitable and less risky than being extractive of people, planet, and trust.
Antonio Solinas has been the DCM and Italy Financial Advisory Leader since 2015. Partner since 2005, he has lead projects including M&A advisory, reorganization services, feasibility analyses, strategic and opportunity analysis, valuations, and post-acquisition integrations for Italian and foreign clients whom are leading players in the industry.
Antonio has been a Member of the Italian Institute of Chartered Accountants of Milan, the Italian Institute of Auditors, and the Italian Analyst Association since 1996. Antonio holds a Corporate Finance Qualification, which he earned from ICAEW in 2007.
Francesco has been part of the Deloitte network for about 18 years. Francesco joined Deloitte’s Corporate Finance team, dealing entirely with valuation, business planning, financial model review and M&A consulting.
In 2016 he became Partner and since 2019 he has been Equity Partner of the Valuation, Modeling and Economic Advisory service line, focused on the Energy & Resources, Infrastructure & Capital Projects, Heallth Care and Lifescience.
Francesco developed the economic advisory services in order to meet clients’ needs in estimating the economic and social impacts of their projects.
A degree in literature, a PhD in philosophy, he was director of institutional relations, communication and international relations for the Lombardia Region and then followed the institutional relations of Expo Milano 2015 and the Italian Pavilion.
Tjeerd leads the work within IIRC’s special interest group on Integrated Thinking & Strategy, which consists of around 40 companies and knowledge partners. The focus of the group is to offer world-renowned and innovative organizations the opportunity to share thinking about developing strategy across multiple capitals, learn from world leaders and co-create a common view of integrated thinking that is globally relevant to help build resilient, future-fit businesses. Tjeerd is also working for ABN AMRO in Amsterdam, as Global head of Business Advisory, Reporting & Engagement, and a member of the Group Sustainability Management team. With more than 20 years of experience in the banking sector he started as a private banker and investment advisor and later on as head of investment teams. For the last seven years he has been heading up a team that offers advice on sustainability and is responsible for integrated thinking and reporting. He is also a member of the advisory board for the Center for Corporate Reporting in Zurich.
Alessandro Rizzello currently teaches Social and Sustainable Finance at the University Magna Graecia of Catanzaro. His research interests include sustainable finance, social impact investing, social impact bond, and Crowdfunding of Social Ventures. He is co-author in the following main recent publications: “Sustainable Financial Partnerships for the SDGs: The Case of Social Impact Bonds” (2020 – Sustainability, 12(13), 5362); “Business Models for Sustainable Finance: The Case Study of Social Impact Bonds”. (2019 – Sustainability (11)7, 1887); “Crowdfunding for development of smart cities” (2018 – Business Horizons, 61 (4), 501-509), and “An alternative financial system” (in Thomas Walker et al. – 2918 – (Eds): Designing a Sustainable Financial System – pp. 17-63. Palgrave Macmillan, Cham); “Impact Investing: a model and research agenda” (2016 – in Routledge handbook of social and sustainable finance).
Costanza Consolandi, PhD is Associate Professor of Corporate Finance at the University of Siena, where she teaches undergraduate courses in corporate finance and graduate courses in corporate valuation. She is a member of the Academic Network of UN-supported Principle of Responsible Investments (PRI), of the Impact amp Sustainable Finance Faculty Consortium of the TruValue Labs Academic Network. Her research interests include sustainable finance, impact finance, corporate governance, and sustainable development.
With 25 years of experience in international financial institutions in multiple countries, Mr. Bril possesses broad level expertise encompassing asset management, pension funds, life insurance, investment banking, derivatives trading and treasury operations.
Most recently, he served as Group CFO and Managing Director Cardano Risk Management, with postings in London, Rotterdam and Amsterdam over six and a half years. Prior to Cardano, Mr. Bril was Senior Vice President, Head of Treasury and Capital Management at Aegon NV and Head of Asset Management and Chief Investment Officer of Syntrus Achmea Asset Management, where he was responsible for Dutch pension funds with assets under management totaling Euro 45 billion. Mr. Bril spent 3 years as the Head of Treasury at FGH Bank and trustee of FGH Bank’s pension fund. He started his career as a fixed income derivative trader for ABN AMRO, Dresdner Bank and Deutsche Bank in Amsterdam, Frankfurt and London.
Mr. Bril graduated from the Free University in Amsterdam with a Masters in Economics. Additionally, he graduated from INSEAD where he earned a diploma in Consulting and Coaching for Change. Mr. Bril recently completed a Masters degree in Studies in Sustainability Leadership from the University of Cambridge.
Helen Chiappini is a Tenure track assistant professor – with a national qualification of Associate Professor – at the Department of Management and Business Administration, G. d’Annunzio University of Chieti-Pescara (Italy), where she teaches Sustainable finance and corporate finance. Her areas of research include sustainable investments, impact investment funds, and non-performing loans. She is Editor of the subseries Palgrave Studies in Green Finance (Palgrave Macmillan) and member of the Scientific Committee of “Social Impact Agenda per l’Italia”. She was also scientific observer of the G8 Social Impact Investment International Taskforce, consultant for national and international organizations also on sustainability topics and she recently contributes to the works of two commissions on climate risks and ESG risks promoted by the Association of Italian Risk Managers.
Alberto Matellán is the Chief Economist for MAPFRE Investments Area. He defines the macro view and supervises the global asset allocation committee for own and third parties assets. He is also responsible for SRI methodology: he leads the integration of ESG in the investment, research and reporting processes; liaises with international and academic institutions; and contributes to the SRI policy. Among other issues, he’s been responsible of the creation of the brand new Inclusion Fund, a fund that invests in companies committed to people with disabilities.
Before joining MAPFRE in 2016, he worked as a director of Fixed Income Strategy at JB Capital Markets, and Head of Research and Strategy at Inverseguros, where he set up the Strategy and Research area from scratch. Formerly, he was a macroeconomic consultant at Instituto de Estudios Económicos, where he advised the largest Spanish companies and some administrations on investment and financing decisions. He has combined his professional career with the academia. He is Co Head of the Chair in Sustainable Finance at the Pontifical University of Salamanca, lecturer in sustainable finance and financial analysis and he’s taught postgraduate level financial analysis at CUNEF or U.P. de Comillas and macroeconomics at the Spanish Civil Engineers Association. He holds a Degree in Business Administration, an M.Phil in Applied Economics and an IESE Advanced Management Program. He also attended the Ivey Business School Search for Value Program. He is an EFFAS Certified ESG Analyst (CESGA) and a member of the Spanish Institute of Financial Analysts; and he’s been selected as an Acumen Fellow in 2021.
Maria Teresa Zappia
Maria Teresa Zappia is Deputy CEO and Chief Impact and Blended Finance Officer at BlueOrchard. Maria Teresa also leads the Sustainability and Impact team at Schroders Capital. Maria Teresa has over 25 year experience in EM & frontier markets, has authored and co-authored a number of publications and is a guest speaker at several universities’ postgraduate impact investing classes. She is a member of the Impact Principles Advisory Board and represents BlueOrchard at the G7 Impact Taskforce created by the UK under its G7 Presidency.
She coordinates the team of social impact assessment and management and manages the relationships with the academic realities with which Italiacamp develops research projects on the
theme. Previously in Microcredito per l’Italia (Italian microfinance institution) y. Ph.D. in Economics at Federico II University of Naples, with thesis on social risk assessment in social impact investing Master in Microcredit and Social Entrepreneurship at Bologna University. Author of several publications on evaluation and impact finance.