Dame Susan Rice’s closing keynote provided a fitting conclusion to the GCBC Forum, emphasising the ambition, cultural change, and collaboration required to mobilise climate finance. She began by reaffirming a shared purpose: delivering urgent and effective finance to tackle climate and nature crises. Achieving this, she argued, demands not only a roadmap but also genuine ambition—exemplified by the UAE Banks Federation’s $1 trillion sustainable finance pledge.
Operating at the climate finance frontier means forging ahead without complete data or established precedents. In this uncharted territory, culture becomes critical. As Susan put it, “culture eats strategy for breakfast”—technical training matters, but without a culture that values honesty, tough conversations, and ethical decision-making, good intentions falter. She highlighted how strong leadership must extend beyond the top tier, enabling boards and teams to address complex dilemmas, as she experienced in banking when confronting potential forced labour issues in solar panel supply chains.
Susan’s reflections also underscored the importance of thinking beyond institutional boundaries. Drawing from her experience in economic development banking in the United States, she illustrated how creativity, partnerships, and a willingness to challenge old habits can revitalise communities and industries. Now, as she works on “green re-industrialisation” in Scotland, these lessons prove equally relevant—shared ambition, new alliances, and determined execution can overcome entrenched barriers.
Key Takeaways:
- Ambition and Vision: Bold targets and a willingness to venture beyond comfort zones are essential.
- Culture Counts: Organisational values must be lived, not merely stated, to support ethical, impactful decisions.
- Distributed Leadership: Empowering all levels fosters resilience and informed problem-solving.
- Collaboration and Creativity: Cross-sector partnerships and innovative thinking are crucial to unlock financing opportunities.
- Delivering Impact: Ultimately, success is measured not by pledges but by tangible, positive change on the ground.
Dame Susan Rice’s address left the audience with a clear message: sustainable finance breakthroughs depend on ambition, culture, and collective action to create lasting, meaningful impact.