London Accord 2007

The London Accord first started in 2005 when an informal group of researchers, financial services organisations and investors led by Professor Michael Mainelli came together to discuss how investment research expertise could help inform policy-makers on issues such as climate change.

In 2007, the London Accord released the first "open source" research resource both online and with a CD. Reports set out the context for investments in climate change solutions, analysed individual opportunities and discussed the implications for the construction of investment portfolios.

The project’s sponsors, The City of London Corporation, BP plc, the Z/Yen Group, Forum for the Future and Gresham College hope this 2007 publication has encouraged investors and policy makers to engage meaningfully in reducing the risk of climate change and continues to do so. The sponsors are grateful to research contributors who have shared their efforts.

Access the 2007 publication via the table of contents below.

Table of contents

Foreword

Foreword — David Lewis, Lord Mayor of the City of London in 2007
Why the London Accord Matters — Michael Snyder, Policy Chairman of the City of London in 2007

A: Introductions

A1: Executive Summary — Michael Mainelli & Jan-Peter Onstwedder
A2: Review of Contents — Michael Mainelli & Jan-Peter Onstwedder

B: Context

B1: Climate Change: the State of the Debate — Alex Evans, Center on International Cooperation & David Steven, River Path Associates
B2: The Forces of Change in the Energy Market — Nick Butler, Cambridge Centre for Energy Studies

C: Investment opportunities

C1: Solar Energy 2007 — Eckhard Plinke & Matthias Fawer: Bank Sarasin
C2: Investing in Biofuels — Conor O’Prey: ABN AMRO
C3: Investing in Renewable Energy — Mark Thompson: Canaccord Adams
C4: Energy Efficiency: The Global Case for Efficiency Gains — Miroslav Durana, Tanya Monga & Hervé Prettre: Credit Suisse
C5: Energy Efficiency: The Potential for Selected Investment Opportunities — Asari Efiong: Merrill Lynch
C6: Carbon Capture and Sequestration — Marc Levinson: JPMorgan Chase
C7: Emissions Trading: Trends and Opportunities — Andrew Humphrey & Luciano Diana: Morgan Stanley
C8: Forest Assets for the Future — Stephane Voisin & Mikael Jafs: Cheuvreux

D: Analysis

D1: Adaptation: Credit Risk Impacts of a Changing Climate — Christopher Bray: Barclays & Acclimatise
D2: Modelling Carbon Intensity — Valéry Lucas-Leclin: Société Générale
D3: Investments to Combat Climate Change - Exploring the Sustainable Solutions — Alice Chapple: Vedant Walia & Will Dawson: Forum for the Future
D4: Investment in Low-Carbon Technology - the Legal Issues — Lewis McDonald, Herbert Smith, editor
D5: A Portfolio Approach to Climate Change Investment and Policy — James Palmer, Mark Yeandle and Michael Mainelli: Z/Yen

E: Commentary

E1: Dynamics of Technological Development in the Energy Sector — J Doyne Farmer & Dr Jessika Trancik: The Santa Fe Institute
E2: Toward a Product-Level Standard: Life Cycle Analysis of Greenhouse Gas Emissions — Steven Davis: The Climate Conservancy
E3: A Commentary on the Product-Level Standard — Hendrik Garz: WestLB
E4: Cap-and-Trade Versus Carbon Tax: A Comparison and Synthesis — Michael Mainelli & Alexander Knapp: Z/Yen & Jan-Peter Onstwedder
E5: Carbon Markets: The Forest Dimension — Eric Bettelheim, Gregory Janetos & Jennifer Henman: Sustainable Forestry Management
E6: A Role for Philanthropy — Davida Herzl: NextEarth Foundation

F: Background

F1: The Road To London — Michael Mainelli & Jan-Peter Onstwedder
F2: WarmGame: A Game for all Seasons — Mark Yeandle, Mark Yates & Ian Harris: Z/Yen

F3: Why The London Accord Matters - Sir Michael Snyder, Policy Chairman of the City of London, 2003-2008