The Handbook of System-level Investing: How Experts Worth Trillions of Dollars are Rethinking Investing
By Jon Lukomnik and William Burckart
Investing always evolves. The investing challenges of the 21stcentury are new, destabilizing and systemic. They involve complex, interconnected global issues that impact societies and economies. To maximize returns while minimizing risk, investors need to consider the interplay and interdependencies between their investments, the real economy, and the complex challenges of our environmental, social, and financial systems. System-level investing does just that.
Building on and going beyond traditional finance theory and sustainable investing practices, system-level investing recognizes the need for capital markets to be able to efficiently create investment opportunities from a flourishing real economy, which in turn, depends on robust social, financial, and environmental systems. At the same time, investing influences those systems. The feedback loops are complex. System-level investors intentionally seek to manage their impacts on global systems, recognizing that mitigating systemic risks can reduce investment risk and enhance returns. Doing so, however, requires new investment strategies that directly address challenges such as climate change, biodiversity loss, racial and gender injustice, income inequality, and food and health systems fragility, among others.
The Handbook of System-level Investing features contributions from:
Jane Ambachtsheer, Global Head of Sustainability, BNP Paribas Asset Management; Honorary Research Fellow, Oxford University’s Smith School
Sarah Annan, CFA, Senior ESG Specialist, BNP Paribas Asset Management
Jake Barnett, Managing Director Sustainable Investment Strategies, Wespath Benefits
and Investments.
Aaron Bennett, Chief Investment Officer, University Pension Plan Ontario
William Burckart, Co-author of 21st Century Investing: Redirecting Financial Strategies to Drive Systems Change.
Caroline Flammer, A. Barton Hepburn Professor of Economics, Columbia University
Susan Gary, Professor Emerita, University of Oregon Law School.
Emilie Goodall, former Head of Stewardship, Europe, Fidelity International
Stephen B. Heintz, President and CEO, Rockefeller Brothers Fund
John Hoeppner, Head of Strategic Relationships and Active Ownership, Builders Vision; formerly Head of US Stewardship and Sustainable Investments, LGIM America
Keith Johnson, Director, Externalities Investment Research Network; former Co-Chair, Institutional Investor Services Team,, Reinhart Boerner Van Deuren; former Chief
Legal Counsel, State of Wisconsin Investment Board,
Scott Kalb, Director, Responsiible Asset Allocator Initiative, Fletcher School; former CIO and Deputy CEO Korea Investment Corporation.
Adam Kanzer, Head of Stewardship, Americas, BNP Paribas Asset Management
Takeshi Kimura, Special Adviser to the Board, Nippon Life Insurance Company
Corey Klemmer, Principal and Founder, ACK Consulting; formerly Policy Director U.S. Securities and Exchange Commission
Geraldine Leegwater, CEO Investment Management, PGGM
Carole Laible, CEO at Domini Impact Investments
Jon Lukomnik, Co-author of Moving Beyond Modern Portfolio Theory: Investing that Matters.
Steve Lydenberg, Partner, Strategic Vision
Saksham Malhotra, Manager, Responsible Investments, HESTA
Max Messervy, Founding Principal, Oakledge Advisors; former Sustainable Solutions Director, Mercer
Brian Minns, Sr. Managing Director, Responsible Investing, University Pension Plan Ontario
Paul O’Brien, Trustee, Wyoming Retirement System; former Deputy CIO, Abu Dhabi Investment Authority (ADIA)
Patrick Peura, Head of Investment Stewardship and Engagement, Allianz Investment Management
Tiffany Reeves, Partner, Faegre Drinker; former as Chief Legal Officer and Deputy Executive Direrctor, Chicago Teachers’ Pension Fund
Dirk Schoenmaker, Professor of Banking and Finance, Rotterdam School of
Management, Erasmus Universiteit Rotterdam; Research Fellow at the Centre
for Economic Policy Research
Willem Schramade, Professor of Finance at Nyenrode Business University
Colin Tissen, Sustainability Lead Mandate Management, PGGM
Roger Urwin, Global Head of Investment Content, Willis Towers Watson
Jaap van Dam, former Chief Strategist, PGGM.
Barbara Zvan, President and CEO, University Pension Plan Ontario
- Jon Lukomnik and William Burckart