17 September 2024 - The members-only breakfast event welcomed experts to discuss how we talk about sustainability in the banking and investor sectors following the ESG backlash.
Today, the Banking Environment Initiative (BEI), ClimateWise, and the Investment Leaders Group (ILG) welcomed members to an exclusive breakfast event as part of its inaugural Speaker Sessions series.
The discussion focused on the changing sustainability narrative arising from an increasing ESG backlash - and how to remain on course to promote corporations' ESG credentials, informing customers' and investors' perceptions.
The members-only event was held at ABN AMRO's London office (with thanks to Caroline Barr, Sustainability Regulation Advisor at ABN AMRO). Speakers included Dr Nina Seega, Director of the Centre of Sustainable Finance (CSF) at Cambridge Institute for Sustainability Leadership (CISL) - the umbrella organisation of ClimateWise, BEI, and ILG; James Alexander, CEO of UK Sustainable Investment and Finance Association (UKSIF); and Kris De Meyer, a neuroscientist and Director at UCL Climate Action Unit.
De Meyer examined what neuroscience can tell us about how myriad professionals deal with climate risk in vastly different ways, stating: "Climate scientists are in a state of panic. Financial markets and the business world are not. Why is this happening?" But the scientific community, he suggests, is talking in the wrong risk currency to the business community, rather than tapping into the things that keep them up at night.
Alexander spoke to the current trend of ESG backlash, declaring it prevalent in the UK; not a grassroots thing, instead organised by vested interests, and that it’s likely to get worse before it gets better.
His conclusion highlighted practical takeaways for both the banking and investment sectors:
Focus on financial materiality
Depoliticise and educate
Fight greenhushing and highlight economic benefits
Maintain a rational, evidence-based approach
Protect investor freedom and business sense.
To attend future exclusive Speaker Sessions, contact ClimateWise, the BEI or ILG to enquire about these benefits and more.
Going to Climate Week NYC?
We hope to see you in New York for CSF’s event: ‘Nature Finance: The Role and Impact of Nature on Financing Decisions’, hosted in partnership with Deutsche Bank and Robeco.
The event will hear from leading finance practitioners, providing insights on tangible actions that can be taken by the private sector on nature today, including:
Markus Müller, Chief Investment Officer ESG & Global Head of Chief Investment Office, Deutsche Bank
Carola van Lamoen, Head of Sustainable Investing, Robeco
Paula Pagniez, Head of Origination and Client Engagement, Climate Risk & Resilience, Howden
Juan Carlos (JC) Briones, Head of North America Institutional, Robeco
Panel dialogues will be followed by roundtable discussions on levers to galvanise private sector finance for nature, with insights used to inform CISL's recommendations going into COP16.
Click here to register using the online form (for attendance both in person or virtually)
Further thought leadership from CSF: