It is acknowledged that the City of London is still the leader in Green Finance. London Climate Action Week at the end of June, which included the City Corporation’s annual Net Zero Delivery Summit, highlighted this dominance.
Time Magazine attended the Summit and comment in this article that the engagement by the City of London in this area of work is a continuation of the innovation of the City as a financial centre over 500 years. Whilst tradition is there in abundance the drive and ingenuity and need to create new solutions is still thriving.
One example lies in the Transition Finance Market Review that the UK Government and the City Corporation undertook last year and led to the Transition Finance Market Council led by Lord Sharma (Sir Alok) of which fellow livery member, Irem Yerdelen, is the Deputy Chair. The Council will report later this year. It is focussed on the way that hard to abate industries ( some represented by our Livery companies ) such as aviation, maritime, cement and steel can be helped towards low emission manufacturing.
We should not underestimate the impact that this will have for the City of London and our industries – financial and manufacturing. It is good to read about this from a US based journal endorsing our future direction and ability to deliver.
https://time.com/7307275/green-wall-street-london-sustainable-finance/