Climate change roadmap wins hot ticket

Goldman Sachs JBWere equities manager Ben Hare has won the major Investment and Financial Services Association (IFSA)/Deloitte Future Leaders Award for his paper on the implications of climate change for the investment industry.

In presenting the award at a ceremony in Sydney yesterday, Deloitte wealth management partner Sarah Woodhouse said Hare’s paper effectively addressed the many existing and potential implications of climate change on the industry, including its impact on direct and indirect property, company valuation and corporate bonds. She described his conclusions and recommendations as “potential roadmaps for the industry”.

Hare was one of three finalists in the second annual awards, designed to encourage young financial services professionals to consider some of the broader issues affecting the industry. The other two were AMP Financial Services product manager Alisa Higgins for her paper on superannuation and retirement income streams and St George Bank assistant product manager Juliette Atkins for her paper on life insurance distribution.

The awards are open to under-30-year-old employees of IFSA full member companies who have the support of their chief executive and a mentor of senior management level. This year, applicants were invited to submit 4,000-word papers on one of three major contemporary issues facing the industry; namely climate change, the retirement savings gap and how to extend life insurance to a greater proportion of the population.

“It is a sophisticated industry that is prepared to examine new ways to improve its practises to the benefit of the consumer and, in particular, to listen to the Generation Y perspective, working with our own young people and the industry’s leaders to explore new and innovative ideas,” said Woodhouse.

Hare has been awarded a round-the-world trip for his winning paper and will be mentored by a Deloitte global leader on the topic of climate change and its impact on the investment industry.