Finextra is excited to announce that the annual Sustainable Finance Live conference will be held at Events@No6 in London on October 10th. This event will gather leading figures from the sustainable finance sector to explore innovative strategies for promoting environmental sustainability within the financial industry. In the lead-up to this event, Finextra engaged in discussions with several speakers to gain insights into their perspectives.
One of the featured speakers is Peter Bachmann, Managing Director of Sustainable Infrastructure at Gresham House, who will participate in the panel titled “How will financial markets deliver the investment needed to ensure impact?” During the interview, Bachmann emphasized the financial sector’s evolving commitment to addressing climate change through sustainable infrastructure initiatives. He highlighted three noteworthy “asset-based solutions” aimed at mitigating climate challenges:
- Vertical Farms: These innovative agricultural systems can reduce greenhouse gas emissions by up to 1,900 times, utilizing 99% less land and approximately 95% less water compared to traditional crops grown in fields.
- Waste-Based Biofuel Plants: These facilities convert industrial waste into a sustainable alternative to coal, particularly for the cement and steel industries. A single operational site can prevent over 800,000 tonnes of CO2 emissions annually.
- Landscape-Scale Habitat Banks: By enhancing biodiversity, these banks generate significant positive environmental outcomes that contribute to climate change mitigation.
Bachmann argued that banks and fintech companies ought to champion impactful projects that lower carbon emissions and direct capital toward sustainable solutions.
The conference will also address existing sustainability regulations. Bachmann pointed out that frameworks established by the TCFD and TNFD are designed to combat greenwashing within the industry. However, he noted that the lack of a uniform regulatory framework poses challenges, creating potential areas for regulatory arbitrage that could hinder substantial progress.
He advocated for regulators to implement reduced capital requirements for financial institutions investing in environmentally friendly initiatives to incentivize a shift in behavior regarding pollution and carbon emissions.
Looking to the future, Bachmann anticipates that the sustainable finance sector will increasingly prioritize climate change and carbon removal. As companies work towards accurately measuring Scope 3 emissions, the next step involves focusing on carbon avoidance and the reduction of emissions.
When discussing his expectations for the upcoming Sustainable Finance Live, Bachmann expressed enthusiasm about hearing from fellow speakers and contributors, and their fresh ideas for addressing the pressing climate crisis.
For those interested, further details and registration for Finextra’s Sustainable Finance Live conference can be found here, where industry experts will convene to discuss strategies for building sustainable urban environments on October 10, 2023.