the global investor summit rome 2024

Innovating Towards Sustainable Growth

In conclusion, amid elevated uncertainty, he observed:“We really have to be there to support our key
stakeholders at all times – our clients, ourteammates, our communities and our shareholders.”

The energy debate
In a packed event that tackled no shortage of pertinent
topics – from the global election supercycle to geopoliticalrisk – the intersection between sustainability and innovation
emerged as a major focus of discussion. The disruptions
posed by the push for net zero – whether supply chain

1 | the global investor summit rome 2024

One panel saw a lively exchange between leaders fromdifferent ends of the industry spectrum on the topic of ‘Our
Global Energy Transition Future.’ Tree Energy Solutions (TES)
combines green hydrogen with recycled carbon dioxide to make‘e-NG’ – a sustainable version of natural gas that can be
integrated into existing energy sources and infrastructure.
“We’ll soon have the ability to produce green hydrogencheaper than oil,” TES CEO Marco Alverà told the panel.
Keeping prices down and minimising supply and otherbottlenecks are crucial to the energy transition because
consumers need to directly experience the benefits, the panel’s
other participant, Partner at EQT and former Enel Group CEO
Francesco Starace, pointed out. He noted that historicallyinvestment in energy transition hasn’t always served theend-consumer’s interests, and a full-scale shift will be possible
only when energy is safe, readily accessible and affordable.

TotalgreenhousegasemissionsTotalgreenhousegasemissionsTotalgreenhousegasemissions
45
45
45
40
40
40
35
35
35303030
25
25252020
20
15
15
15
10
10
10
555
000

1980
1980
1980
1985
1985
1985
1990
1990
1990
1995
1995
1995
2000
2000
2000
2005
2005
2005
2010
2010
2010
2015
2015
2015
2019
2019
2019
2020
2020
2020
2021
2021
2021
2022
2022
2022
2023
2023
2023
2022
2024
2022
2022
2025
2022
2030
2030
2030
2035
2035
2035
2040
2040
2040
2045
2045
2045
2050
2050
2050

Setting the tone was Bank of America chair and CEO Brian
Moynihan. In conversation with Bank of America’s Rash Reid,
head of Global Senior Relationship Management, Global
Markets, Moynihan treated delegates to a sweeping overviewof the post-pandemic corporate landscape. Topics ranged fromconsolidation within the banking sector, to the direction of U.S.
consumer sentiment – robust, but tending to caution, in his view– to prospects for U.S. monetary policy, and the main issues
preoccupying business leaders, with supply chains a source of aparticular concern.

bottlenecks or threats to jobs in traditional energy
industries in markets like India2 – are a case in point.

Gigatonneof CO2-equivalentCO2-equivalent
Gigatonne
ofGigatonnesof CO2-equivalentTransitions are often framed in terms of costs, like theestimated U.S.$100 trillion-$275 trillion needed to fund theshift to sustainable energy1, or the job losses that accompany
technological change. Bank of America’s recent Global Investor
Summit in Rome was a timely reminder that these shifts
also represent new engines of opportunity – and thatbusinesses and investors will play a decisive role in ensuring
their impacts are more positive, inclusive and capable ofdelivering long-term value.

Range
Range

Year
Year
Year
Achievable
Achievable

Net
Netzerozero

Source:International
Engergy
Agency,Source:International
Energy Agency,
NASASource:International
Engergy
Agency,NASANASA

Historical
HistoricalInnovating Towards Sustainable Growth
Maintaining the human touch
Another shift garnering significant interest among the leaders
attending the Global Investor Summit was growing adoption oftechnology, particularly artificial intelligence (AI). As the hypearound AI begins to die down, attention is now turning to its
practical business, and societal implications.
Hayley Boesky, executive vice chair of Global Corporate& Investment Banking, BofA Securities, pointed out that while
exploring the opportunities around AI, organisations would also
have to think carefully about the applicability and overall impact
to be perceived as responsible stakeholders. “AI will have a big
impact on the labour market,” she explained. “Upskillingwill be very important.”
She joined Jack Hidary, CEO of AI and quantum leader
SandboxAQ, for a discussion on ‘Artificial Intelligence: Today& The Future,’ which explored the benefits the next frontier ofcomputing is poised to bring to areas like healthcare.
Hidary noted that the complexity and failure rates ofpharmaceutical drug development are such that successfully
creating a single drug can cost up to U.S.$4 billion and can takeover a decade. Such high stakes can dissuade companies fromtackling rarer or more challenging health conditions.
AI can provide a means to digitally model compounds andsimulate their interactions with the human body, promising to
introduce more speed and certainty to the development
process. This could help close the persistent gaps in access toand affordability of medicines worldwide3.
Quantum and AI-powered simulations may also break new
ground when it comes to the identification and assessment ofrisks, with positive consequences for global stability.

Hayley Boesky, Executive Vice Chair of Global Corporate& Investment Banking, BofA Securities“Today’s complexities can’t be captured by traditional
economic stress tests,” Hidary explained. “But this is where
AI simulations shine.”
At the Global Investor Summit it became clear that businessleaders are being called upon to juggle risks, rewards, and newenvironmental and social responsibilities. Yet those
who rise to the challenge are increasingly being recognised fortheir ability to deliver value not just in terms of returns, but byensuring their organisations and the communities in which they
operate thrive over the long term.
To learn more about Bank of America’s international
business, please get in touch with your relationshipmanager or click here.

BofA Securities
Asian Development Bank/Integrated Research for Action and Development, “Examining the Impact of Just Transition in India”
3SandboxAQ
1
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Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates ofBank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc., which is a registered broker-dealer and Member of SIPC, and, in otherjurisdictions, by locally registered entities. BofA Securities, Inc. is a registered futures commission merchant with the CFTC and a member of the NFA.
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