In this interview for the Global Ethical Finance Initiative, David tells Reuters Breakingviews Associate Editor George Hay what he feels the finance industry can learn from COP21, and take forward to COP26. Some huge committments and initiatives came out of COP21, from the Paris Agreement, to frameworks on green bonds and the Taskforce on Climate-Related Financial Disclosures. At COP26, the finance industry needs to make another push on climate action.
Ethical Finance 2020 (EF2020) will convene the world’s foremost business, political, civic and social leaders for a virtual summit to network, share, co-develop and shape a fairer, more sustainable financial system. The annual Ethical Finance summit is organised by the Global Ethical Finance Initiative (GEFI), which coordinates a series of programmes to promote finance for positive change.
It is now widely recognised that the financial services sector has a fundamental role to play in delivering universally supported targets such as the Paris Agreement and the UN’s Sustainable Development Goals, as well as supporting economic recovery from the COVID-19 pandemic. However, despite its potential, the current financial system can be a cause – rather than a solution – to some of the pressing challenges our planet and its people currently face. Ethical Finance 2020 explored how the finance services can support inclusive economic growth without depleting natural resources or leaving anyone behind.