At our recent Virtual Responsible Business Week Steve Waygood, chief responsible investment officer at Aviva, shared the new International Platform for Climate Finance, bringing together central bankers, finance ministers and CEOs from some of the largest finance institutions for the first time
With more than 50 governors of central banks, finance ministers, and CEOs from leading financial institutions, members of the Global Investors for Sustainable Development Alliance, the proposed new platform will work together to mobilise the $1tn in new investment capital that will be required every year for the next 15 years to put the world on the path for a net-zero transition, Waygood says in his 15-minute presentation.
He points out that there is no lack of political will to tackle climate change, nor is there a dearth of finance, with $400m in assets under management around the globe. There is also a good understanding of the science behind climate change and what will be required to get to net-zero.
"What is lacking is a series of capital-raising plans to raise the money and deploy it [both] at national level and internationally in a coordinated way so markets support the Paris agreement rather than undermine it, as they do at the moment."
aviva Ethical investment Steve Waygood Paris Agreement Platform for Climate Finance