Press Release
Updated: Jul 22, 2019
The Network for Sustainable Financial Markets Restructures its Board, Defines A New Organizational Structure & Purpose for 2019
London, United Kingdom, [17th December 2018] — The Network for Sustainable Financial Markets (NSFM) has announced that it will restructure its current organizational design and purpose, and close the US corporate structure, to better support the next generation of sustainable finance leaders.
The Network for Sustainable Financial Markets (NSFM), an international, non-partisan network of finance sector professionals, academics and others who have an active interest in long-term investing is restructuring. The current NSFM board members have decided to close the corporate US structure, and to restructure NSFM’s organizational design and purpose.
Over the years, NSFM has played an important role in:
• catalyzing new organizations (e.g. the Climate Bonds Initiative, Preventable Surprises)
• spearheading thought leadership work (e.g. fiduciary duty)
• pre-competitive collaborative work to expand new asset classes (e.g. private wealth)
• and – perhaps most important but also hardest to document – being the foundation for numerous and highly productive ad-hoc collaborations.
With the closure of the corporate structure, NSFM aims to increase efficiencies, provide more value-add to its network and goes back to its original roots of being an independent think tank, with limited biases and conflicts of interests, focused on a close cooperation between industry practitioners, academics and like-minded networks.
Following a consultation with NSFM members and other stakeholders, the newly-formed NSFM Next Generation Initiative aims to focus on millennials who are “authentic change agents” within the finance sector and have shown an interest in correcting dis-functional financial markets, policies and related systemic risks such as climate change or wealth and gender disparity. However, they are often excluded from key decisions and deprived of opportunities impacting their own future.
Cary Krosinsky, Steve Viederman, Gordon Noble and Angelo Calvello, some of whom have served on the NSFM board for almost a decade will step down to focus on other activities, meanwhile board members Martina Macpherson, Daniela Carosio, Gabriel Thoumi and Christoph Biehl will lead the reorganization and transition to the NSFM Next Generation Initiative, which will launch officially in 2019.
“Over the last few years, we have experienced a new paradigm shift: from the “Green” to the “Global” to the “Just Transition”. However, the impact of millennials in this development has been felt much less than one might have been expected”, says Martina Macpherson, President, NSFM. “With the help of the new NSFM Next Generation Initiative, we aim to change that and provide millennials with the relevant information, tool kit, networks and opportunities to truly contribute to sustainable growth and development, as set out by the Sustainable Development Goals. Hence, we are developing and launching a catalogue of global partnerships, mentorship and career opportunities programs over the course of 2019. Meanwhile, we would like to thank the outgoing and remaining board members for their outstanding contributions to NSFM.”
“Over many years that I have been involved with the Network for Sustainable Financial Markets, as the founder, board member and most recently as its supporter, I have seen NSFM catalyze a range of initiatives which have filled important gaps in the ESG ecosystem”, says Dr Raj Thamotheram, founder of NSFM. “I am certain this new direction, focusing on the Next Generation of ESG experts, it will be similarly impactful.”
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About The Network for Sustainable Financial Markets and
The NSFM Next Generation Initiative
The Network for Sustainable Financial Markets (NSFM) is an international, non-partisan network of finance sector professionals, academics and others who have an active interest in long-term investing. We believe that the recurring crises recently experienced in our financial markets are not isolated incidents. Rather, this instability is evidence that the financial market system needs a well-thought-out reform so that it can better serve its core purpose of creating long-term sustainable value. The Network seeks to focus research and debate on the underlying causes of financial market instability and on development of fundamental reforms.
The NSFM Next Generation Initiative was formed by former NSFM board members in December 2018 and focusses on supporting young professionals and academics across the Sustainable Investing, Banking and Insurance industries by providing an online platform for engagement, knowledge exchange, career opportunities and mentorship. For more information and to keep up to date with the NSFM Next Generation Initiative, please visit https://www.linkedin.com/company/network-for-sustainable-financial-markets/
FOR MEDIA INQUIRIES, PLEASE CONTACT:
Martina Macpherson
President, Network for Sustainable Financial Markets (NSFM)
Phone: +44 7584219471