The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

The new colour of money: Caring, not sharing

Most of the world’s largest financial institutions are trying to use their contacts with key stakeholders across business, academic and government lines to brainstorm the best ways that markets can combat climate change.

The new colour of money
Environmentalists at the gates
Eco-magine all the people


Many of these councils, committees, initiatives and partnerships carry grandiose names. The spin doctors run the risk of getting out of control. Bankers talk of "creating a two-lane highway between our clients and the policymakers", "promoting environmental stewardship" and, of course, "expanding our environmental footprint".

Fundamental to all the discussions is the following question: "What does climate change mean for us?"

Translation: "If we can work out and even influence what our clients do in this area, then we’ll be in a position to make a lot of money out of their actions."

Such a reading of the situation is perhaps cynical. If you believe that markets must play a key role in combating global warming, then any attempt to broker consensus between their core constituents must be a positive. At the margins, investment banks are even prepared to share some of their ideas: heads of various bank environmental committees can and do on occasion meet up for the greater good.

Up to a point, of course.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree