Edinburgh hosts international green finance summit
Multinational corporations, global banks, investment firms and government representatives have gathered for the two-day event.
Finance leaders from across the world are meeting in Scotland to address monetary risk from climate change.
Senior representatives from the United Nations and Scottish and UK Governments are attending the two-day Finance for Nature Global Summit, hosted by Baillie Gifford in Edinburgh.
It will also involve multinational firms such as Mars, Unilvever, Nestle and environmental charity WWF, as well as financial institutions including Aberdeen Standard, Bank of Ireland, RBS, Barclays, Scottish Widows and HSBC.
Alexander Pohl of @HSBC @HSBC_UK providing a #Banking perspective on the state of #climate #risk and #Finance. @UNDP @NYDF_Platform @scotgoveconomy @BaillieGifford #finance4change pic.twitter.com/5NgEOno1jV— Global Ethical Finance Initiative (GEFI) (@Finance4Change) May 20, 2019
The event will attempt to develop innovative financial instruments to mitigate complex risk, particularly from climate change.
According to the World Economic Forum’s 2019 Global Risks Report, half of the top global risks relate to the environment and climate change and have a material impact on a company’s operational costs, reputation, risk and profitability.
Omar Shaikh, founder of the one of the event organisers, Edinburgh-based Global Ethical Finance Initiative, said: “Hosting this event in Scotland is recognition of our growing reputation as a leader in convening the ethical finance debate.
“By building finance-related partnerships in support of investments aligned with the UN’s sustainable development goals, we hope to demonstrate genuine impact and address the biggest challenge facing the world today.”