EDISON, N.J., Aug. 20, 2021 /PRNewswire/ -- Gitterman Asset Management today announced its virtual conference, The Great Repricing: Financial Advice in the Age of Climate Change, conceived to address financial advisors' demand for education in understanding climate change, climate risk, and their implications for their clients.
The Great Repricing: Financial Advice in the Age of Climate Change is a four-day virtual event (September 21-24) that will gather leading experts across science, business, and finance to share insights into the integration of climate risk and opportunities in investment portfolios and wealth management conversations.
Jeff Gitterman, co-founding partner of Gitterman Asset Management stated today that due to lack of focused education, financial advisors have, so far, been slow to adopt climate-related investing themes and products, despite significant progress by the broader asset management industry.
"Climate change is our greatest systemic risk given the breadth and depth of direct and indirect impacts. Repricing of assets is being seen across municipal bonds, corporate equities, and fixed income, and especially in relation to mortgages and insurance. If financial advisors don't move faster to acquire relevant education and skills, they will struggle to meet their fiduciary duty to support clients in creating and protecting long-term wealth. Moreover, advisors have an exciting opportunity to be part of the shift of capital away from fossil-fuels and legacy industries to environmental and social solutions."
On Monday, August 9th, the Intergovernmental Panel on Climate Change ("IPCC") released its sixth assessment report, which concluded that without "immediate, rapid and large-scale reductions in greenhouse gas emissions, limiting warming to close to 1.5°C or even 2°C will be beyond reach."1 Even these seemingly modest warming numbers will lead to significant physical impacts. For example, at "2°C of global warming, heat extremes would more often reach critical tolerance thresholds for agriculture and health..."2 The seriousness of the report's conclusions necessitate that all businesses and financial actors understand their role in mitigation and adaptation.
Gitterman Asset Management is working diligently to deliver a virtual conference experience with all of the features and benefits of the live events that financial professionals know and love. The virtual event with allow attendees to engage in live sessions with interactive Q&A, join educational breakouts, network with their peers, and participate in 1-2-1 conversations.
The event is supported by generous sponsorship from firms including AllianceBernstein, Envestnet, Federated Hermes, MSCI, Schroders, RBC Global Asset Management, and Trillium.
For more information on the event, please go to https://www.theimpact.io/. For more information on why "Becoming a Climate Literate Financial Advisor" is critical, go to Gitterman Asset Management.
1 https://www.ipcc.ch/site/assets/uploads/2021/08/IPCC_WGI-AR6-Press-Release_en.pdf
2 https://www.ipcc.ch/site/assets/uploads/2021/08/IPCC_WGI-AR6-Press-Release_en.pdf
SOURCE Gitterman Asset Management
