Financial Sector & Climate change: Searching for the sustainable finance definition
Mark Carney (Governor of Bank of England) says the speed at which Sustainable financial market develops will be heavily influenced by the coherence and credibility of climate policies.
- The Governor believes that the financial sector will complement - and potentially amplify - political action on climate change, but will never substitute it.
- He highlights that the EU green taxonomy and green bond standard are a good start, but they are binary (dark green or brown only). Mainstreaming sustainable investment calls for a richer taxonomy—50 shades of green.