1. Sustainable Allocation of Investments: Integrating Natural Capital in the Equation
Chair: Professor Phoebe Koundouri
Speakers:
Shiri Zemah-Shamir
Plutarchos Sakellaris
Nikitas Pittis
Renato De Filippo
PHOEBE
Zisimos Mantas
Kostas Bakoyannis,
Vasilis Lampropoulos
Yanni Paniaras

2. Integrating Natural Capital in Investment Decisions
The implementation of Sustainable Development and SDGs of Agenda 2030, presuppose a robust answer to the questions:
Why is it important to value nature?
How should one evaluate and manage natural resources and other open access/public goods over time and space in an uncertain world?
How this valuation can be integrated in investment strategies and decisions?

3. Integrating Natural Capital in Investment Decisions
SDSN Greece thematic priority: (
Natural Resources, Economic, Social Sustainability
Structured and methodologically sound approaches
Total Economic Value of Resources
Management tools and policy making
Interdisciplinary nature of the challenge
SDSN Greece thematic priority: (
Achieving Natural Resources, Economic, Social Sustainability by developing structured and methodologically sound approaches to recognizing, demonstrating and capturing the Total Economic Value of resources, integrating them in sustainable management tools and policy making, while recognizing the interdisciplinary nature of the challenge.

4. Environment Total Economic Value Use Value Non Use Value
Anthropocentric
Values
 Structure & Processes
 Environmental
Functions
 Human
Benefits
Use Non-Use
Values Values
Environment
Total Economic Value
Use Value
Non Use Value
Actual Use Value
Option Value
Existence Value
For Others
Warm Glow
Direct Use Value
Indirect Use Value
Bequest Value
Altruistic Value

5. Total Economic Value:
- Reflects the preferences of individuals; preferences can be studied and estimated by stated & revealed preference methods .
- Systematic tool for considering full range of impacts on human welfare.
- Essential for resource allocation and policy making.

6. Integrating Natural Capital in Investment Decisions
National accounting systems that treat natural resources, the environment and energy, as free, unlimited resources fail to account for the vital goods and services nature provides to people.
The measurement and valuation of nature’s benefits in terms of nature/ecosystem goods and services needs to be incorporated into a general standard format consistent with conventional national accounts in order to make “nature’s values visible”.
Natural Value should go in Cost-Benefit Analysis, a process for evaluating the merits of a particular project/investment or course of action in a systematic and rigorous way.

7. Integrating Natural Capital in Investment Decisions

8. Integrating Natural Capital in Investment Decisions
The discussion will focus on:
The level of integration of the state-of-the-art of the relevant academic literature into policy.
The effect of this integration, on the assessment of country-specific and international environmental and energy projects/programs/policies and SDGs implementation.
The sources of concerns, opportunities and the way forward.

9. Integrating Natural Capital in Investment Decisions
Speakers:
Shiri Zemah-Shamir (IDC Herzliya and University of Haifa) Plutarchos Sakellaris (Professor, Athens University of Economics and Buiness, Former Vice President of the European Investment Bank) Nikitas Pittis (Professor, University of Piraeus and ICRE8) Renato De Filippo (Climate Change Manager, Eni Oil & Gas Company) Zisimos Mantas (Business Development Officer, EEG-EUNICE Energy Group) Kostas Bakoyannis (Regional Governor of Sterea Ellada) Vasilis Lampropoulos (Chief Technical Officer, Thenamaris Ships Management Inc.) Yanni Paniaras (Chairman Business Council for Sustainable Development, Hellenic Federation of Enterprises - SEV)
20 Minutes for Q&As