The International Energy Agency in 2015 estimated that the world’s reliance on renewable sources of energy would reach over 26% by 2020, representing the largest single source of electricity growth within those five years. At the same time, the IEA projects that oil & gas will remain part of the world’s energy supply for decades to come. How are investors and organizations responding to the challenge of a low-emission future, while straddling the energy realities of the present?
On April 25, 2018, Bloomberg Government and the Norwegian-American Chamber of Commerce will host a series of in-depth conversations on: Investing in a Sustainable Energy Future driven by transformative technology innovations in renewable energy and a functioning trade system necessary to respond to the challenge of energy security and climate change.
We’ll examine how government leaders and energy investors are putting policy and capital to work to transform the world’s energy sources and protect the environment. What actions are companies taking to put in place ambitious strategies that limit their risks from climate change, while creating opportunities in a new low-carbon economy?
Sponsored by: Norwegian-American Chamber of Commerce
Date and Time:
April 25, 2018
3:30 PM to 6:00 PM
Networking reception to follow
731 Lexington Ave
New York, NY 10022
Registration is now closed.
3:30 PM Registration
3:50 PM Welcome and Opening Remarks
Thomas A.W. Miller, Director of Commercial Strategy, Bloomberg Next
4:00 PM Divestment and Investment: From Fossil Fuel to Alternatives
From the biggest U.S. city to the world’s largest insurers and asset managers, investors are increasingly pushing for more responsible energy investments. Funds large and small, public and private, are stripping away fossil fuel stocks and buying clean energy and low-carbon assets. It's a move driven by real financial risks from carbon regulation, new technology and climate change. How effective are these divestitures to a $5 trillion fossil fuel industry? How do you measure the impact on the environment? We’ll follow the money all the way to clean energy.
4:00 PM A Conversation With New York City’s Comptroller
Scott Stringer, Comptroller, New York City
Moderated by: Eric Roston, Sustainability Editor, Bloomberg
4:25 PM Investors Weigh In
Geraldine (Gerry) F. Watson, Vice President for Finance and Operations, Rockefeller Brothers Fund
Skip Grow, Managing Director, Global Power & Utility Group & Head of Clean Technology Coverage, Morgan Stanley
Armin Sandhoevel, CIO, Infrastructure Equity, AllianzGI
Martin Torres, Managing Director, Renewable Power Group, BlackRock
Moderated by: Brian Eckhouse, Energy Reporter, Bloomberg
5:05 PM Balancing Act: Energy, Environment and Free Trade
Global free trades are under pressure and tariffs on the rise. We’ll examine their impact on emerging renewable technologies—from production and employment to exports. How do you measure the impact on environmental goals of tariffs that have the potential to escalate into trade wars? Who will emerge the winner in renewable energy? How do you create an international system in this environment that can effectively deal with issues around technology transfers and subsidies in clean energy?
Jonathan Elkind, Fellow and Senior Research Scholar, Center on Global Energy Policy, Columbia University; Former Assistant Secretary for International Affairs, U.S. Department of Energy
Amy Myers Jaffe, David M. Rubenstein Senior Fellow for Energy and the Environment, Director of the Program on Energy Security and Climate Change, Council on Foreign Relations
Nicolas Loris, Herbert and Joyce Morgan Fellow in Energy and Environmental Policy, Center for Free Markets and Regulatory Reform, The Heritage Foundation
Moderated by: Jim Efstathiou Jr., Editor, Energy & Environment, Bloomberg
5:35 PM Sponsor Spotlight: The Industrial Revolution: How Traditional Companies are Meeting the Green Transition Challenge
Businesses across industries are facing both risks and opportunities from climate change. It’s driving oil and gas companies to embrace renewable sources and a broader energy strategy, while forcing traditional industrial companies to innovate by producing low carbon products and services.
What are the opportunities for a modern industrial company facing a low-carbon future? How are market and regulatory demands impacting their operational and investment decisions? We’ll examine how companies are implementing ambitious strategies to mitigate risks not just from climate change, but from increasing environmental regulations—and re-inventing themselves in the process.
Marcia Tannian, Deputy Director of Finanace, Metropolitan Transportation Authority (MTA)
Kathrine Fog , SVP Corporate Strategy & Analysis, Hydro
Hilde Røed, Vice President Corporate Sustainability, Statoil
Moderated by: Robert Dietrich, Director, 30 Point Strategies; Former Senior Editor, Bloomberg Markets Magazine; Former Reporter, Inside Climate News
6:05 PM Closing Remarks
H.E. Kåre Aas, Norwegian Ambassador to the United States
6:10 PM Networking Reception
Mr. Aas has served as Norway’s Ambassador to the United States since September, 2013. Previously, he served in Oslo as Political Director of the Ministry of Foreign Affairs (2010-13), as Norway’s Ambassador to the Islamic Republic of Afghanistan (2008-10) and as Director General of the Department for Security Policy and the Arctic (2003-08). From 2005-07 he served as Norway’s representative on the International Atomic Energy Agency’s Board of Governors. Mr. Aas has also been posted to Chile, Norway’s Permanent Delegation to NATO in Brussels, and the Permanent Mission of Norway to the United Nations in Geneva.
Rob Dieterich is a veteran journalist and editor who has covered the energy industry for more than two decades. In 15 years at Bloomberg L.P., he worked as a stock market reporter, an editor running energy coverage, and as a senior editor responsible for economics and investing at Bloomberg Markets magazine. Post-Bloomberg, he has written extensively on renewable energy issues for InsideClimate News. He has also completed projects for clients including The Economist Intelligence Unit, Bloomberg Businessweek and Prudential. Rob is currently a director at 30 Point Strategies, where he helps clients translate complex subject matter for a broad audience through compelling narrative, clear prose, intelligent graphics and engaging live programming.
Brian Eckhouse is a Bloomberg reporter covering clean-energy finance. In the past 20 months, he has covered the collapse of the world's largest renewable-energy company, SunEdison, and the growth pains of solar. Brian previously edited IJGlobal, the project-finance trade publication. He has also reported for the Las Vegas Sun, the New Hampshire Union-Leader, the New York Daily News, Congressional Quarterly and Rolling Stone Australia.
Jim Efstathiou Jr. is a veteran journalist and editor who has covered the energy industry for more than two decades. In 15 years at Bloomberg L.P., he has reported on U.S. energy policy from Bloomberg's Washington, D.C. bureau, the Organization of Petroleum Exporting Countries, United Nations climate change talks, carbon markets, and the emergence of hydraulic fracturing for oil and natural gas. In his current, New York-based assignment, he writes on climate change and the growth of renewable energy.
Jonathan Elkind is a Fellow and Senior Research Scholar at the Center on Global Energy Policy. Elkind comes to the Center after a long and distinguished career devoted to energy and environment policy in the private and public sectors. Since 2009, he has worked on international energy and climate issues at the United States Department of Energy, helping to coordinate policy objectives within the Obama Administration as well as lead climate and energy programs with key global partners. He departed DOE as Assistant Secretary for International Affairs.
Kathrine Fog is currently the SVP Corporate Strategy & Analysis at Norsk Hydro, responsible for the corporate strategy process; industry structure, macro- and market analysis for the total aluminium value chain including energy, financial/project analysis, trade and industrial policy.
She has 25 years' experience across various business areas in Hydro, including the Petrochemicals Division, Oil & Energy Markets, Energy Business Area, as well as corporate projects. Areas of experience include commercial responsibilities, contract negotiations, raw materials supply and purchasing, market analysis, strategy development, political framework conditions and policy positioning.
Mr. Grow joined Morgan Stanley in 2010 as a Managing Director in the Global Power & Utility Group covering the clean technology sector. He has a broad range of industry experience, having managed transactions for such leading companies as Bloom Energy, EnerNOC, Enphase, First Solar, Hannon Armstrong, NRG, Opower, Stem, Sunrun, SunEdison. Sunpower, Terraform, TPI, Trina Solar and Vivint Solar, among others. Mr. Grow’s transaction experience encompasses public and private equity financing, restructuring, and mergers and acquisitions advisory. Prior to joining Morgan Stanley, Mr. Grow was a Managing Director and Head of the Alternative Energy Group at Lazard Frères & Co. He has spent the majority of his 25-year investment banking career working with growth companies
Amy Myers Jaffe is the David M. Rubenstein senior fellow for energy and the environment and director of the program on Energy Security and Climate Change at the Council on Foreign Relations. A leading expert on global energy policy, geopolitical risk and energy and sustainability, Jaffe previously served as executive director for energy and sustainability at the University of California, Davis and senior advisor for energy and sustainability at Office of the Chief Investment Officer of the University of California, Regents. She was also formerly a global fellow at the Woodrow Wilson International Center for Scholars. Prior to joining the University of California, Davis, Jaffe served as founding director of the Energy Forum at Rice University's James A. Baker III Institute for Public Policy and its Wallace S. Wilson fellow for energy studies. She has taught energy policy, business, and sustainability courses at Rice University, University of California, Davis, and Yale University.
Nicolas (Nick) Loris, an economist, focuses on energy, environmental, and regulatory issues as the Herbert and Joyce Morgan fellow at The Heritage Foundation.
A research fellow in Heritage's Roe Institute for Economic Policy Studies, Loris studies and writes about energy supplies, energy prices, and other economic effects of environmental policies and regulations, including climate change legislation, energy efficiency mandates, and energy subsidies.
He also covers coal, oil, natural gas, nuclear gas, and renewable energy policy and articulates the benefits of free market environmentalism.
Thomas Miller is the Diplomatic and Global Business Lead at the Bloomberg Bureau of National Affairs (BBNA) where he oversees client relations with the international diplomatic community and produces the Bloomberg Sustainable Business Summits. He joined BBNA after four years with Bloomberg Government, where he was responsible for launching the new BGOV service to diplomatic officials in the political, economic, defense and communications sections at the foreign embassies in Washington DC. Prior to joining Bloomberg, Tom was a founding Board Member of Business for Diplomatic Action (BDA), a non-profit organization founded by major American corporations after the 9/11 attacks to work with the U.S. Department of State on public diplomacy programs around the world. Before BDA, he was Managing Director with the Roper Organization, one of the world’s leading market and public opinion research firms, where he managed all of the company’s global marketing, branding, consumer trend and public opinion/public affairs insight services. Tom began his career at Hudson Research Europe, a Paris-based political, economic and social risk forecasting firm serving major multinational corporations, banks and governments. He is an honors graduate of Yale University (B.A.) and the London School of Economics (M.Sc.).
Hilde Røed is VP Sustainability at Statoil, responsible for strategy, performance and reporting in the Corporate Sustainability unit. She has managed several improvement projects related to climate and sustainability, including developing Statoil’s approach to reporting, climate risk and embedding climate considerations in investment decisions. Prior to joining Statoil in 2012, Hilde worked for 10 years at DNB with sustainability, communications and project management. She has also worked for the United Nations Development Programme on business-UNDP partnerships. Hilde holds a master degree (MA) in Society, Science and Technology from the University of Oslo.
Eric Roston is an award-winning journalist who has spent more than 15 years covering climate change in all its incarnations—from science, to technology, finance, business, and government.
Since 2011 he has served as Sustainability Editor for Bloomberg News, at first developing and overseeing a Bloomberg.com site devoted to the topic. He has returned to writing stories, graphics, and video since 2015, including several that have circled the world and won awards or drawn significant critical attention.
Armin Sandhoevel joined Allianz Global Investors in 2012 as CIO Infrastructure Equity. In his function, he covers energy-related infrastructure topics and is responsible for the development of energy infrastructure and impact investment products for third party investors. His track record shows three successfully closed SICAV-SIF vehicles with a cumulative capacity of more than 700MW. Together with his dedicated team, he is responsible for more than 1.8 billion USD of AuMs. Ever since he has been working on the global expansion of his business model and currently offers to his clients a global vehicle with a focus on Northern America for investments.
New York City Comptroller Scott M. Stringer has spent his career in public service fighting to ensure that every New Yorker has an equal opportunity to make it in our City. Over the last two decades, Mr. Stringer has been a champion for policies like a $15 minimum wage, has advocated for affordable housing, worked to strengthen the City’s fiscal health, and promoted open, transparent government.
Born and raised in Washington Heights, Mr. Stringer was elected to the New York State Assembly in 1992, where he represented Manhattan’s West Side for 13 years. In 2006 he became Manhattan Borough President, and was elected Comptroller in 2013. As investment advisor to, custodian and trustee of the City’s five pension funds, Mr. Stringer and his staff oversee the City’s $160 billion public pension system.
Marcia Tannian is the Deputy Director of Finance at the Metropolitan Transportation Authority (MTA), and previously served as the Assistant Director of Finance. She joined the MTA in 2014. Prior to arriving at the MTA, she worked as a legislative fiscal analyst for the Legislative Services Agency of the Iowa General Assembly where she worked on transportation and infrastructure related legislation. She worked on the Transportation, Infrastructure, and Capitals Joint Appropriations Subcommittee. Prior to that she worked as a policy analyst in the Legislation Group of the Department of Legislative Services for the Maryland General Assembly, providing legislative drafting focusing on environment, natural resources, and related topics. Ms. Tannian holds a Juris Doctor and Master of Public Policy (formerly the Master of Public Management) from the University of Maryland.
Martin A. Torres, Managing Director, is a member of the Renewable Power Group within BlackRock Alternative Investors (BAI). As a senior member of the team, he is responsible for originating investment opportunities, establishing industry partnerships, leading transaction executions and developing new investment strategies in the renewable power sector.
Geraldine F. Watson is vice president for finance and operations at the Rockefeller Brothers Fund. She was promoted to this position on October 1, 2006. This senior management position includes oversight of the finance, accounting, information technology, human resources, and operations functions for the RBF, as well as the Rockefeller Family Fund, the David Rockefeller Fund, and several of its affiliates.
Ms. Watson joined the RBF in 1994 as comptroller, directing the financial reporting responsibilities for the RBF, the RFF, the DRF, along with the Asian Cultural Council and the Rockefeller Philanthropy Advisors. From 1989 through 1994, Ms. Watson was engaged as an independent consultant, providing financial and tax services to individuals, small businesses, and nonprofit organizations. Prior to 1989, Ms. Watson served as an audit manager with Price Waterhouse. She currently chairs the board of Confluence Philanthropy, and serves on the board of Philanthropy New York as treasurer and chair of the finance committee. Ms. Watson also serves on the board of The Interchurch Center, chairs its finance committee, and is a member of its compensation and personnel committee.
Ms. Watson received a B.S. from Fairfield University and attained her CPA classification shortly thereafter.
The Norwegian American Chamber of Commerce (NACC) is a membership organization founded in New York in 1915. NACC promotes development of business and trade relations between the United States and Norway through social media, publications, major business conferences, seminars and similar events while also advances the business interests of member companies and professionals. Members include leaders of Norwegian and American firms successfully pursuing business in the US while membership offers access to the vibrant Norwegian-American business community nationally and to official Norway in the U.S. Headquartered in New York City, the NACC has chapters in Chicago, Houston, Miami, Minneapolis, Los Angeles, Philadelphia, Seattle and Washington D.C. The NACC works in close cooperation with the American Chamber in Norway (AMCHAM).
The Norwegian Consulate General in New York was established in 1905 and is the oldest and largest Norwegian Consulate General in the U.S. Our office in New York provides consular services for 22 states on the east coast of the U.S.
The Norwegian Consulate in New York functions as a bridge between Norway and U.S., connecting Norway and North America in business, technology, innovation and the arts. The Consulate is devoted to assist Norwegian business abroad and increase U.S. awareness of investment and business opportunities in Norway. The Consulate supports Norwegian starstups seeking to enter the American market, and helps develop prosperous networks between Norwegian and American business – opening the door to new markets and opportunities. Please contact us at norway.no/usa for more information.
Statoil is a Norwegian-based energy company with operations in more than 30 countries and about 22,000 employees. Statoil provides energy in a responsible manner to a growing population, working towards a future where energy is affordable and sustainable for all. Since 1972 Statoil has explored, developed and produced oil and gas on the Norwegian Continental Shelf. From the early 1990s, the company has built a global business with operations in North America, Europe, Africa, and Brazil. Statoil is developing a global portfolio of new energy solutions, and is currently delivering wind power to 650,000 households. Statoil is listed on the New York and Oslo stock exchanges. The company’s North American headquarters is based in Houston, Texas.
Hydro is a fully integrated aluminium company with 35,000 employees in 40 countries on all continents, combining local expertise, worldwide reach and unmatched capabilities in R&D. In addition to production of primary aluminium, rolled and extruded products and recycling, Hydro also extracts bauxite, refines alumina and generates energy to be the only 360° company of the global aluminium industry. Hydro is present within all market segments for aluminium, with sales and trading activities throughout the value chain serving more than 30,000 customers. Based in Norway and rooted in more than a century of experience in renewable energy, technology and innovation, Hydro is committed to strengthening the viability of its customers and communities, shaping a sustainable future through innovative aluminium solutions.
DNB Bank ASA is Norway’s leading financial service group and one of the largest in the Nordic region in terms of market capitalization. The Group offers a full range of financial services, including loans, savings, advisory services, insurance and pension products for retail and corporate customers. The DNB Group is a major operator in a number of industries, for which we also have a Nordic or international strategy. DNB is one of the leading maritime banks and has a strong position in the energy sector, and the fisheries and seafood industry. DNB’s presence in North America consist of a branch in New York, who together with a representative office in Houston, serves corporate customers in the bank’s strategic business areas. In North America DNB offer a full range of investment banking products and services through DNB Markets, Inc. which is located in New York and Houston.
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