EcoAct joins the “Finance for Tomorrow” initiative to drive the sector’s transition
The finance sector has a crucial role to play in the transition to a low-carbon economy. With the latest report from the OCDE, “Investing in Climate, Investing in Growth“, putting the financing required for the low-carbon transition at $6.9 trillion per year up to 2030, it is now crucial that funds are redirected with greater urgency and determination into low-carbon economy.
For several years now, the Paris financial marketplace and France’s public authorities have been committed to developing sustainable finance. In April, EcoAct joined forces with Forward Finance to support investors and asset managers in assessing and reducing the risks associated with investment portfolios. We are now now delighted to announce our involvement in the “Finance for Tomorrow” initiative.
“Finance for Tomorrow “ was launched by Paris Europlace on 14 June, and aims to intensify the finance industry’s contribution to the climate challenges, and thus to consolidate and promote the Paris financial marketplace as a world leader in green and sustainable finance. The initiative mobilises and unites those players in the Paris financial marketplace wishing to commit themselves to finance that invests in a sustainable future.
Ekaterina Reshetnikova, climate finance expert at EcoAct, explains: “it’s no longer a case of determining whether or not it’s in the interests of the financial sector to commit itself to the pathway of low-carbon transition, but of deciding “when” and “how”, so we can get there in an effective, sustainable way. It’s therefore essential bring together all financial experts – investors, asset managers, and researchers – around this shared objective.”
EcoAct will contribute its expertise by playing an active role in the “Research and innovation” field, establishing research requirements and identifying innovative financing tools, and also encouraging the expansion and promotion of FinTech and of climate-related financial disclosures – to showcase the expertise and leading role in climate reporting France has gained from the information obligation placed on institutional investors by Article 173 of the Energy Transition Law.