Green Finance Alliance High Level Meeting

Focus on trends and challenges: Exchange between the CEOs of Green Finance Alliance Members and Federal Minister Leonore Gewessler

The transformation of the core business of financial companies requires clear visions from the highest level. The CEOs of the Green Finance Alliance members met with Austria’s Federal Minister for Climate Action Leonore Gewessler to discuss opportunities and challenges in the strategic implementation of climate protection.

The meeting was accompanied by a keynote speech by Jesica Andrews, Investment Lead of the United Nations Environment Programme Finance Initiative (UNEP FI). She gave an input on the definition and implementation of climate targets in the financial sector and presented the current challenges and trends in this area.

The role of voluntary initiatives

The financial market is an important lever to achieve national targets as well as the recently published new target of the EU Commission to reduce greenhouse gas emissions by 90 per cent by 2040. Financial companies must be aware of their responsibility in this area and act up on them. Through mandatory disclosures, EU regulation lays the foundation for the effectiveness of sustainable finance. 

However, rapid progress on climate protection in the financial market also requires financial companies to become active. This is precisely why initiatives such as the Green Finance Alliance are so important. Their role is to lead the way towards consistently pursuing the Paris climate target and demonstrate how ambitious climate protection can work successfully in the financial sector. Science-based criteria ensure that the members of the Green Finance Alliance are at the forefront of climate protection in the financial market, both nationally and internationally.