摩根大通第5届全球ESG大会要点.docxVIP

J.PMorgan CazenoveJ.P. Morgan 5th Global ESG Conference Takeaways from panels keynotesEurope Equity Research 27 March 2020 2020II Developed Europe Emerging EMEA Research Poll - Now OpenThis survey is important for us, please vote for J.P. Morgan 5 stars in all categories where we have added value Click here to voteJ.P. Morgan9s 5lh Global ESG Conference took place on Tuesday 24 and Wednesday 25 March 2020 in a virtual format. In this report, we highlight the key takeaways of the 6 panels and 2 keynotes held during these two days. In these unprecedented times, more than 400 investors attended the J.P. Morgan Global Virtual ESG conference. Naturally, the COVID-19 crisis was on many investors, minds and this was reflected in numerous related questions sent by investors during the panels. During his keynote, Philipp Hildebrand, Vice-Chairman of BlackRock rightly highlighted that COVID-19represents a sustainability crisis. Far from a Black- Swan,, event, it is what risk experts would call a Gray Rhino^^: a highly obvious, highly probable, but still neglected danger. More importantly, Climate Change is another obvious Gray Rhino”. And in fact, the relationship between the two Rhinos - Climate Change and Global Diseases - is well established and growing. We believe that the overall message is clear, COVID-19 and the upcoming recession will not mark the end of the necessary transition towards a more sustainable financial system and economy. They could drive the greatest reallocation of capital of the 21st century”. The question of the materiality of ESG factors and, more specifically, the EU- regulation driven notion of Dual Materiality” (Financial and Sustainability) of ESG factors was another recurring point of discussion. In uur ESG Primer, we also discussed this topic extensively and we are convinced that, as sustainability infuses the financial system, limiting the focus to financial materiality will become increasingly difficult. We thank all the panelists, as well