Banks around the world seem to make billions of dollars from green finance reviews, lend and support new types of eco-friendly businesses, and divert money from old energy giants.
But given Britain’s huge wind and marine energy assets, London, perhaps the natural home of green money, is now “catch up.”
William Wright, founder of New Financial, said: With more than 90% of the more than 60 indicators analyzed, the EU far outperforms the United Kingdom, the United States and Asia. In most markets, Europe has significantly outweighed its weight due to ESG activity in global capital markets. “
ESG (Environmental, Social and Governance) investment assets make up 6% of all UK funds, less than half of the EU’s 13%.
New Financial states that the UK is about “4 or 5 years” behind the EU in terms of green finance.
Wright further said: “In the last few years, sustainable finance and ESG have become a top priority for policy makers and the financial services industry in Europe and around the world. Industry-wide commitments to ESG are high and ESG products and activities Growth is rapid and the EU has been a world leader in creating sustainable financial frameworks.
The report is a collaboration with Luxembourg.
Nicholas Machel, Chief Executive Officer of Luxembourg for Finance, said: Change. “
He adds: “As this report shows, she’s certainly right to criticize the slow pace of progress, but there’s certainly plenty of’somehow somehow’, but that’s all the words, no action. It is not correct to say that. The level of ESG initiative efforts across the financial services industry is increasing, and the specific actions taken by financial institutions may not yet be in line with those efforts, but sustainable finance in regions around the world. With a steady increase in services, the EU is a clear pioneer and leader in this area. “
COP26: London loses to Europe in green finance
Source link COP26: London loses to Europe in green finance