The second edition of the LFF Sustainable Finance Forum was a success with more than 500 people attending the event. Local and international sustainable finance experts met at the Philharmonie to share opinions, experiences and future developments showing that the sustainable finance community is growing like bamboo.
High-level speakers coming from all over the world followed each other on stage delivering inspiring messages and, more importantly, they put the accent on the sense of urgency (we need to act now!) and provided the audience with potential solutions when it comes to mainstream sustainable finance.
“I believe that sustainable finance will go mainstream. Ten years ago, when the World Bank issued its first green bond, it was a niche product and today the green bond market is about 200 billion dollars this year”.
Mr. Jingdong Hua, Vice President and Treasurer of The World Bank
The key word of the day was P³ (Public & Private Partnerships): in fact, the combined contribution and cooperation between the public, private, and civil society sectors together have the potential to realize broad positive impacts such as reducing carbon emissions, promoting energy efficiency, creating green jobs and promoting new thinking about infrastructure needs for the future.
Other main take away of the day were:
- ESG criteria perfectly fit the long-term view and provide more stability;
- Taking sustainable finance to scale needs better data and more transparency;
- Sustainable finance is the future of finance
Banking case study (ABBL): Enabling and intermediating the ESG transition of economic systems
A special mention for the very interesting business case study organized by the ABBL focusing on the role of banks in the field of sustainable finance via concrete and comprehensive examples in the field of green bonds, wealth management and corporate finance professionally and clearly explained by Damien Degros (ING), Frank Krings (Deutsche Bank), Constantine Rinn (UBS), Kaiyu Yang (ICBC Luxembourg) and masterfully moderated by Corinne Molitor (Innpact).
Banks are an essential component of the financial system. Their primacy among lenders in assessing the credit risk of individual loans makes them particularly important for financing the origination of sustainable assets and for lending in support of the transition to a more sustainable economy.
By Fabio Mandorino, Adviser – Commercial Banking | Private Banking | Sustainable Finance