Day Two Program Agenda

Legal Issues in Social Entrepreneurship and Impact Investing—In the US and Beyond: June 6-7, 2023

Wednesday, June 7

New York University School of Law
Vanderbilt Hall, 40 Washington Square South, New York City

Events marked with (^) will be available via a live stream on Zoom Webinar. Please register for the conference and a link will be sent to you 1-2 days before the conference.
Panels that have been approved for CLE credit hours are marked with an asterisk (*).

9:15-9:45 a.m. Registration

Location: 1st Floor, Kushner Lounge

Coffee and beverages will be available in Kushner Lounge. Please note that food and beverages cannot be brought into Tishman Auditorium (Morning Plenary).

9:45-9:50 a.m. Returning Welcome to Conference (^)

Location: 1st Floor, Tishman Auditorium

Ginny Reyes Llamzon, Conference Program Committee Co-Chair

Amaris White, Executive Director, Grunin Center for Law and Social Entrepreneurship

9:50-10:45 a.m. Morning Plenary - Fireside Chat with Christopher Stephens, Senior Vice President and General Counsel, World Bank Group (^)

Location: 1st Floor, Tishman Auditorium

This Day 2 opening plenary features a conversation with the senior vice president and general counsel, World Bank Group. The Fireside Chat will focus on the role of the legal function and the general counsel in the World Bank Group; the evolution of the World Bank in the face of the global polycrisis; and the World Bank’s role in the impact investing sector and in catalyzing private capital.

Speaker:

Christopher Stephens, Senior Vice President and General Counsel, World Bank Group

Moderator: Amélie Baudot, Conference Co-Chair and Chief Operating Officer, The International Fund for Public Interest Media

10:45-11:15 a.m. Networking Break

Location: 2nd Floor, Golding Lounge; 1st Floor, Kushner Lounge

11:15 a.m.-12:30 p.m. Panels Round 4 (*)(^)

A) Theme: Distributive Power and Wealth: Is the Impact Space Ready and Willing to Democratize Capital?
Demonstrating Democratization: Putting in the Work (*)
Location: 2nd Floor, Room 206

We will discuss specific examples of how a project has made “democratization” happen in practice. How has the project been organized and structured? How has it worked, and what issues have needed to be considered and overcome? Why were they seeking more equitable structures, and how is this important for their success going forward?

Panelists:

Tim Burke, CEO, Mill Town Capital
Tatyana Kleyman, Head of Partnerships and General Counsel, OutcomesX
Malini Moraghan, Founder and Managing Director, Torana Group

Moderator: David Wolf, Associate General Counsel, Global Communities

B) Theme: Impact Investing in Times of Crisis: Governance, Collaboration, Restructurings, Data, and Resilience
Role of Catalytic Investment, Philanthropy, and Impact First—Post-COVID and Other Crises (*)
Location: 2nd Floor, Room 218

This panel will explore how the role of philanthropy has evolved in the context of various crises, while exploring new mechanisms to leverage its impact; innovative tools such as mission-driven for-profit companies or donor-advised funds; and blended finance, while examining how investors see the utility of grants combined with investments—collectively managing risks and collaborating more efficiently.

Panelists:

Jennifer Faust, Investment and Finance Advisor, Global Partners
Nnamdi Igbokwe, Ph.D., Director of Knowledge and Thought Leadership, Convergence
Ivette Montero, Founder and General Director, Centro Mexicano Pro Bono; Director, Foundation of the Nacional Association of Corporate Lawyers in Mexico

Moderator: Julie Wynne, Partner, MLL Legal

C) Theme: Dynamic Impact Capital: Evolving Rules, Players, Structures, and Products
Innovating on Innovation (*)(^)
Location: 2nd Floor, Room 214

The World Bank is, and has always been, a champion and promoter of sustainable capital markets—from the earliest green bond issuances to the development of the Green Bond, Social Bond, and Sustainability-Linked Bond Principles. As financial markets continue to fundamentally shift toward environmental, social, and governance investments, market demand continues to increase for more creative structures and products that link private sector investments to specific development outcomes. Within this context, the World Bank has been in lock-step—innovating on innovations and designing solutions to help channel private sector capital to dedicated sustainability targets. This panel will explore some of these innovative products and mechanisms—both those recently launched and some that are still in development—to understand how multilateral organizations are working together with both public and private sector stakeholders to channel capital to achieve the most impact in sustainable development goals.

Panelists:

Michael Bennett, Head of Market Solucions and Structured Finance, World Bank Treasury
Tim Cleary, Partner, Clifford Chance
Benjamin Lawless, Senior Policy Advisor, US Treasury
Jessica Zarzycki, Portfolio Manager, Nuveen

Moderator: Shirmila Ramasamy, Senior Counsel, World Bank

D) Theme: A Tale of Diverging Regulatory Environments: Navigating Local and Global Regulations and Developing the Skills to Respond
Comparative Global Regulation of Impact Investing (*)
Location: 2nd Floor, Room 220

Around the world, we are seeing governments try to regulate the measurement and reporting of asset managers marketing impact products. Asset managers raising funds in the EU are struggling to meet the requirements of the SFDR and Environmental Taxonomy, Latin America is working on a series of “comply or explain” regulations, and the US SEC has proposed the Disclosure of ESG Practices regulation. Panelists will address the commonalities and differences among these regulatory regimes and answer the questions: Do they advance or inhibit impact investing? Are they tailored enough to impact boutiques, or are they simply aimed at large actors? What are some lessons learned from the existing regulations?

Panelists:

Connie Connolly, Co-Founder, Keidos Impacto Legal
Rob Esposito, Managing Director and Senior Counsel, ESG, Apollo
Roberto Randazzo, Partner, Head of ESG and Impact, Legance
Vivien Teu, Partner, Head of Asset Management & ESG, Dentons Hong Kong

Moderator: Edward Marshall, Co-Managing Partner, Developing World Markets

12:30-2:15 p.m. Lunch Break

Lunch will be available for pick-up on the 1st Floor in Kushner Lounge.

Please pick up your lunch and take it to the Lunch Plenary on the 1st Floor in Greenberg Lounge.

The lunch plenary will start at 12:45 p.m.

12:45-1:45 p.m. Lunch Plenary - Book Talk and Signing: For-Profit Philanthropy (^)

Location: 1st Floor, Greenberg Lounge

Professor Linda Sugin will lead a discussion of the new book, For-Profit Philanthropy, with author Dana Brakman Reiser. For-Profit Philanthropy argues that three recent shifts in elite philanthropy share the same DNA. High-net-worth individuals are using LLCs as hubs for their philanthropy. Corporate donors are enmeshing their giving more and more with their business operations, in extreme cases by closing corporate foundations entirely. Even elite giving outside the foundation context increasingly leverages donor-advised funds rather than directly granting to operating charities. Each of these shifts adapts business practices and players to philanthropic ends. Collectively, they represent a de facto deregulation of philanthropy, undercutting decades-old rules designed to bolster public trust that elite philanthropists will serve public ends as they mold the social agenda. Not content to merely expose these issues, the book also proposes solutions, asserting that regulators and philanthropists alike can take steps to inject greater public voice and transparency into the philanthropy of the future.

Featured Author: Dana Brakman Reiser, Centennial Professor of Law, Brooklyn Law School

Moderator: Linda Sugin, Professor of Law and Faculty Director, Office of Professionalism, Fordham Law School

1:45-2:15 p.m. Networking Break: Afternoon Refreshments

Location: 2nd Floor, Golding Lounge; 1st Floor, Kushner Lounge

Coffee, beverages, and afternoon snacks will be available on the 1st Floor in Kushner Lounge.

2:15-3:45 p.m. Workshop and People’s Choice Table Talks

Workshops are intended to be action-oriented meetings where participants identify issues and create action plans for steps to take in the coming year.

Table Talks are intended to be smaller group discussions on a “People’s Choice” topic that reflects conference participants’ suggestions. Table Talks are led by discussion leaders.

Workshop Theme: Dynamic Impact Capital: Evolving Rules, Players, Structures, and Products
Unlocking Capital for Impact
Location: 2nd Floor, Room 206

Obstacles to capital deployment and to access continue to be a drag on the impact sector. This working session aims to identify the current issues and address possible means to unlock capital. The workshop will address ways to bridge the divide between funders and operating companies/intermediaries, unlock concessionary and commercial capital, and enhance the conversation among wide players (from foundations to institutional investors).

Discussion Leaders:

Mary Rose Brusewitz, Member, Clark Hill
Oliver Hunt, Partner, Bates Wells
Nnenne Okorafor, Legal Counsel, Acumen Fund, Inc.
George Rogers, Impact Investing Legal Consultant
Perry Teicher, Impact Finance Counsel, Orrick, Herrington & Sutcliffe LLP

Moderator: Chris Garner, Managing Director, Mirova UK Limited

Table Talk 5: Blockchain and Other Emerging Technologies to Scale Impact
Location: 2nd Floor, Room 218

The advent of new technologies such as blockchain has substantial implications for transparency in impact investing projects. This table talk will feature two attorneys whose current work leverages blockchain technologies in new and exciting ways. After learning about their work, we will have an open conversation about the impacts that these technologies can have for scaling impact - and the implications they may have for attorneys in the years to come.

Discussion Leaders:

Christian Díaz-Ordóñez, Legal Counsel, IDB Invest
Tatyana Kleyman, Advisor, OutcomesX
Josh Nathan, Associate Director and Staff Attorney, Social Finance

Table Talk 6: Sustainable Public Procurement and ESG: Efforts and Lessons from Around the World
Location: 2nd Floor, Room 220

Public procurement represents a big portion of countries’ economies. The purpose is to encourage the advance of sustainable public procurement, by gathering a global outlook of current developments and outline the Latin America and Europe region experiences, as well as share how sustainable public procurement can be a driver of economic development and ESG’s commitment to it.

Discussion Leaders:

Luke Bassis, Deputy Director of Procurement, Port Authority of New York and New Jersey
Connie Connolly, Co-Founder, Keidos Impacto Legal
Emiliano Giovine, Senior Associate at RP Legal & Tax; President of GAIL (Global Alliance of Impact Lawyers) Europe

Table Talk 7: Development and Impact Capital for Democracy and Independent Media
Location: 2nd Floor, Room 214

The Media Development Investment Fund (MDIF) has been supporting independent media for more than 25 years in a range of countries through affordable debt and equity financing where access to free and independent news and information is under threat. The International Fund for Public Interest Media (IFPIM) is a brand-new global financing mechanism and international organization focused on providing grant capital to independent media in low- and middle-income countries.

This table talk is a conversation between these two funds and will explore the increasingly innovative ways in which independent media can be supported to build robust businesses, continue to hold power to account, expose corruption, and provide a platform for debate.

Discussion Leaders:

Amélie Baudot, Conference Co-Chair and Chief Operating Officer, The International Fund for Public Interest Media
Elena Popovic, Secretary and General Counsel, Media Development Investment Fund, Inc.

Table Talk 8: Development of Impact Practices for Law Firms
Location: 2nd Floor, Room 216

The talk will focus on how lawyers have developed impact practices within their respective firms and share their views on how the practice developed and discuss the challenges and diverse perspectives, from both the US and abroad, in developing impact focused practices within law firms.

Discussion Leaders:

Samantha Biggio, Legal Officer, TrustLaw, Thomson Reuters Foundation
Roberto Randazzo, Partner, Head of ESG and Impact, Legance
Perry Teicher, Impact Finance Counsel, Orrick, Herrington & Sutcliffe LLP
Vivien Teu, Partner, Head of Asset Management & ESG, Dentons Hong Kong

3:45-4:00 p.m. Networking Break: Afternoon Refreshments

Location: 2nd Floor, Golding Lounge; 1st Floor, Kushner Lounge

Coffee, beverages, and afternoon snacks will be available on the 1st Floor in Greenberg Lounge (Closing Plenary).

4:00-4:40 p.m. Closing Plenary (^)

Location: 1st Floor, Greenberg Lounge

Speakers:

Emmeline Liu, General Counsel, Calvert Impact
Fran Seegull, President, US Impact Investing Alliance

Moderators:

Ginny Reyes Llamzon, General Counsel and Chief Operations Officer, MCE Social Capital
Kevin Saunders, Vice President, Legal, Fidelity Foundations

4:40-4:45 p.m. Closing Remarks (^)

Location: 1st Floor, Greenberg Lounge

Kevin Saunders, Conference Program Committee Co-Chair

This event has been approved for 16 New York State CLE credits in the category of Areas of Professional Practice. Each panel is approved for 1 credit. The credit is both transitional and non-transitional; it is appropriate for both experienced and newly admitted attorneys. Those panels that have been approved for CLE credit hours are indicated with an asterisk (*) in this conference program.

NYU School of Law is committed to the availability of quality affordable CLE programs for its alumni community and members of the bar-at-large. Prospective attendees interested in obtaining financial aid for this program should contact NYU Law School's the Grunin Center for Law and Social Entrepreneurship at law.gruninsocent@nyu.edu. Written requests for financial aid should include applicant name, phone number, email address, employment status and recent employment history, along with a brief statement of financial need. All requests for financial aid will be kept confidential.