Global Ethical Finance Initiative (GEFI)

The world depends on global finance making the right choices to deliver positive change and achieve the SDGs. We are the partner for action on ethical finance.

[Jacqui Smith @Jacqui_Smith1]

I was delighted to discuss progress on the introduction of an Alternative Student Finance (ASF) product compatible with Islamic finance principles with members of the ASF Working Group. This will make student finance accessible for everyone, regardless of their faith.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

David Chollet closed the summit with a passionate keynote urging that "as we accelerate towards sustainability, timing is critical. Later is too late. Remember, there is no sustainable company in an unsustainable world. Let's act better, faster, stronger!"

#ESG #sustainable

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Benjamin Porte from @globalcompact highlighted the CFO Coalition’s role in bridging the $4.3 trillion SDG financing gap, emphasizing CFOs’ crucial role in aligning corporate finance with sustainability.
#SustainableFinance #SDGs #CorporateResponsibility #ESG

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Pascale Forde Maurice, @CA_CIB provided an overview of the growing popularity of sustainable financial instruments, such as sustainability-linked bonds and loans as they allow companies to align their funding strategies with measurable goals.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Jean-Yves Wilmotte from @Carbone4 kicked off the discussion by highlighting the evolution of companies' #climate strategies. He explained that businesses are moving beyond the simple goal of reducing their carbon footprints.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Eoghan McGrath shared how @MartinCurrieIM embeds ESG principles into all investment decisions and highlighted the risks of delaying robust #ESG action, noting that #Regulation may soon catch up with voluntary initiatives.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

David Pitt-Watson argued that while #ESG 's commercial value is recognised, it isn't straightforward for the finance industry, especially when managing other people’s money.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

The penultimate panel discussion of the Summit was moderated by Dame Susan Rice, who pointed to the success of the US Inflation Reduction Act as an example of effective policy that encourages action without focusing on #ESG terminology.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Accuracy's Julie Malzac returned to deliver a compelling keynote on the integration of ESG factors in business strategies. She highlighted the critical need for deeper integration of ESG factors to enhance profitability while effectively managing risks.

#ESG #RiskManagement

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

As we prepare for the final panel of the Sustainable Finance Summit with Accuracy, we’d like your insights!
How do you view the role of ESG factors in business practices and investment strategies?

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Despite increasing investments, Jean-Pascal Pham-Ba pointed out the uneven distribution of funds globally and stressed the importance of aligning public policy with #privatecapital, especially in developing countries, to promote sustainable infrastructure development.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

@abrdn_plc's Nathaniel Hay highlighted the various decarbonisation frameworks and regulations guiding the real estate sector toward net-zero goals. However, he emphasized that financial incentives remain a limiting factor.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

"ESG litigation is set to rise with new regulations like CS3D in Europe"

Sophie Scemla, @Gide_avocats said that companies must strengthen due diligence, engage with stakeholders, and manage risks from consumer activism and social media boycotts.
#ESGLitigation #Sustainability

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Guillaume Rosaz, Accuracy, continued the Summit's second session with a presentation on "Navigating ESG Disputes" covering:
- Duty of Vigilance Law
- Environmental Litigation
- Shell's Halting of Arctic Drilling

He concluded that reputational risks are driving companies.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

@UNEP_FI's Daniel Bouzas commented on the differing approaches to ESG implementation between Schneider and other companies noting that while progress is still in its early stages, frameworks like CFDR have been instrumental in raising awareness about greenwashing.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Carol Sirou, @EthiFinance discussed the complexities of ESG data, stressing the importance of moving from purely quantitative scores to more useful, comparable insights, especially with the upcoming EU ESG rating system.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Comgest's Sébastien Thévoux-Chabuel reflected on the ESG enthusiasm before COP26, when regulation wasn't a focus. He compared the regulatory landscapes of Europe and the US, noting that while Europe is often criticized for over-regulation, it lags behind the US in enforcement.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Sophie Chassat, Accuracy, moderated the opening panel of the Summit's regulatory-focused second session. In her opening remarks, Sophie cited the recent statement from the French Prime Minister about his intention to request a moratorium on environmental regulations.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Looking forward, @Yogs92, @FedHermesLtd stressed the importance of thinking about where to position investments over the next decade to capitalise on long-term opportunities in ESG.

[Global Ethical Finance Initiative (GEFI) @Finance4Change]

Anne Sophie Castelnau, @ING_news, underscored that sustainability, alongside customer experience, is one of the bank’s top priorities, presenting it as both an imperative and a business opportunity.