Our Volunteers in Action: Getting to Know Our ESG Committee with Tamara Close, CFA

Ever since she started working in the financial world in the early 1990s, Tamara Close, CFA, has been interested in environmental, social and governance issues, or “ESG” to use the shorthand. They have remained top on her list of priorities throughout her career. Following is an interview with Tamara, in her capacity as the chair of the CFA Montréal ESG Committee. Read on to learn more about how she got where she is today and what her committee does for the Montreal financial community.

 

Tell us a little more about CFA Montréal’s ESG Committee.

What makes our committee unique is that everyone who serves on it has their finger on the pulse of the latest developments in sustainable investing and ESG trends. They use this information to suggest training activities and other initiatives for the CFA Montréal community. Our goal is to help our peers stay up to date on the topic and expand their knowledge.

We also organize events around specific themes and give talks to groups of university students. And we really like to find a unique way to approach these issues. Our extensive network of contacts means that we can attract high-profile speakers from around the world.

In addition, we sometimes play an advisory role for some of the internal practices here at CFA Montréal to make sure they comply with ESG criteria.

What prompted you to volunteer with the ESG Committee?

Earlier in my career, I had several different jobs in investment management and risk management. Then eight years ago, I was given the opportunity to learn more about ESG factors and I realized just how important they were for today’s investment professionals. I also saw how wide the gap was between the asset management and sustainable investment industries. So that’s how it all got started. I decided to become a consultant. Not too long after that, CFA Montréal approached me about creating an ESG committee, and it felt right that I should be a member. I’ve sat on the committee since its inception three years ago.

How would you describe the role your committee plays in the professional development of CFA charterholders?

The ESG Committee helps give our community a better idea of what sustainable finance and ESG are, empowers CFA charterholders to play an active role and zeroes in on issues that are paramount to the financial ecosystem. According to a CFA Institute poll, 76% of institutional investors and 69% of individual investors are interested in ESG investing. This is actually one of CFA Montréal’s priorities, and there have been efforts in recent months to bring the ESG certificate to a wider audience. Anyone in the financial community can enrol.

What is one of the initiatives you are particularly proud of?

Even though, three years in, the ESG Committee is still relatively young, I am very proud of the contribution we made to the first set of global standards published by CFA Montréal in 2021. These standards have made it possible for investors, consultants, advisors and distributors to gain more insight into ESG investment products so they can understand, compare and assess them more confidently. The ESG Committee has worked very closely with CFA Societies Canada. We even played a role in the CFA Institute’s consulting process, aimed at gathering more feedback from industry stakeholders.

This first edition of the Global ESG Disclosure Standards for Investment Products is a huge step forward. Before that, there weren’t really any specific ESG norms in place that investors could refer to. Now, it’s all so much more transparent.

What would you say to anyone who would like to join the ESG Committee?

I’d like all CFA charterholders to realize that a diversity of knowledge and experience makes our committee better and stronger. There’s a lot of flexibility as to the type of role people can play as a volunteer committee member. We are involved in a variety of industry and academic events, advocacy efforts, and that’s just the tip of the iceberg.

ESG factors are changing the world of finance as we know it. By pooling together our expertise and our experience, we can be at the forefront of this transformation.

 

Interested in getting involved with a dynamic, forward-looking association? There are lots of ways you can contribute to CFA Montréal. Be sure to let us know how you’d like to make a difference by filling out this form: https://www.cfamontreal.org/en/get-involved.