Building Bridges to greener global finance

Yesterday marked the end of Building Bridges Week, the event born of a joint initiative between Swiss public authorities, the finance community, the United Nations and other International partners. The collaborative movement aims to accelerate the transition to a global economic model aligned with the needs of a just society by ‘building bridges’ between different communities and generations. This year’s crowd-sourced program of events consisted of panel discussions; roundtables; workshops, training sessions, pitches and networking events, all open to anyone interested in uniting finance and sustainability.

With the public sector agenda overwhelmed by challenges including the pandemic, inflation and war, the private sector needs to step in to support and guide investment in the net zero transition in order to avoid disaster. But with global interests so varied, how can we come together to make meaningful progress?

Patrick Odier President, Building Bridges

Building Bridges president, Patrick Odier (pictured) , said at the event that in order for sustainable finance to become mainstream we must “find a common language, common standards, and common measurement methodologies”. 

The gap between statement and strategy

Interestingly Odier’s words came the same day as Redington’s annual Sustainable Investment Survey was published. The survey highlighted the emergence of gaps between what asset managers say, and what they do. Of the 122 asset managers across a range of geographies included, it was found that 92% of strategies state climate is prioritised in engagement efforts. But Redington discovered a 34% shortfall with only 54% strategies stating they track and report engagement activities. 

Head of sustainable investment at Redington said “While almost every manager we spoke to highlighted climate as a priority in their engagement efforts, many were unable to provide any evidence of engagement on the issue – making genuine progress difficult to track.

At this stage, managers should be using all the tools at their disposal and exercising voting rights to the fullest extent possible, leveraging their influence to positively impact company management.”

SI Engage believes there is value to be realised for organisations that provide solutions to tackle climate change and mitigate its impacts. We couldn’t agree more with Odier’s comments. While the financial industry awaits tighter globally-aligning legislation, we will continue in our efforts to try and apply cohesion to the fractured landscape so asset managers can make informed decisions. Time is of the essence; let us help you simplify stewardship to contribute to a better future. 

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