June 16, 2024
Finance

Is Climate Finance the Next Industrial Revolution?


NatWest and BlackRock seeing the bright side

Caroline said: “Climate finance is going to be the new industrial revolution. It will stimulate growth, jobs and innovation.

“The reporting requirements are brutal, but they drive change.”

David Oelker, Head of ESG Investment EMEA, BlackRock, talked up green bonds – a subject that recurred throughout.

He said the green bonds market is worth US$3tn, adding that a key advantage is their transparency.

He said: “It’s so valuable as investors because you get insight reports on an annual basis.”

David said he believes green bonds can play a key role in driving the green transition in emerging markets.

A note of caution

Rhian-Mari added a note of caution, telling delegates that companies still have a way to go on the path to green finance.

She said there are four stages of development for companies in terms of climate investment:

1 – Initial engagement: making sure risk and compliance are at the forefront

2 – Systematic change: where organisations start to develop reporting and target setting

3 – Transforming the core: where sustainability is starting to drive revenue and growth

4 – Competitive differentiation: where everything is being driven by sustainability “front and centre”.

Rhian-Mari said financial organisations are “largely at stage one and two”.

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