Kimberley Player, a US-based strategic investment advisor, opened the final panel of the Summit by highlighting the opportunity presented by the transition to a sustainable economy.
Anne Scott, Global Climate Solutions Lead, Aegon Asset Management discussed kicked off by outlining Aegon Asset Management’s approach to responsible investing, which involves incorporating ESG factors, setting carbon reduction targets, and developing climate transition solutions. She emphasised the importance of identifying companies with credible net zero transition strategies and engaging with laggards to drive change.
Dr. James Wilde, Chief Sustainability Officer, Phoenix Group provided examples of the opportunities and challenges facing the insurance sector in addressing climate change. He outlined Phoenix Group’s net zero transition plan, which includes tilting investment portfolios, engaging with companies, and collaborating with stakeholders. Dr Wilde also discussed the need for policy frameworks and public-private partnerships to unlock finance for climate solutions.
Hannah Simons, Head of Sustainability, Lloyds Bank Corporate Markets then highlighted the importance of supporting clients on their decarbonisation journeys and the need to accelerate investment in climate solutions. She conveyed the importance of assessing transition plans, understanding emerging technologies, and combining public and private financing for innovative projects.
Ugo Biggeri, Regional Representative for Europe, Global Alliance for Banking on Values shared the perspective of smaller, value-oriented banks with deep local roots. He highlighted the challenges of measuring carbon footprints for small and medium enterprises and the need for policy frameworks that incentivize sustainable practices and disincentivize unsustainable activities.
The panel, and Summit, concluded with an engaging discussion on the tension between the public and private sectors in addressing climate change. The need for clear policy signals, national transition plans, sector-specific roadmaps, and public-private collaboration were identified as key requirements to unlocking finance at scale. The panelists were also in agreement as to the importance of global cooperation and consistent standards across regions.