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Environment Magazine September/October 2008

 

January-February 2018

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Germany: The ‘Greenhorn’ in the Green Finance Revolution

With the Paris summit on climate change in December 2015 (COP21), nations have agreed to formulate national climate targets. They can only be reached if urgently needed massive real investment projects and adequate measures are undertaken. Although most national climate action plans do not formulate explicitly emission reduction targets for the financial sector, banks and investment trusts, among others, have a pivotal role to play in mobilizing private capital and managing carbon risks. International committees installed by the G7 and the G20 summits mostly use for such purposes the term “green finance.” The Paris Climate Agreement (COP21), together with the UN Sustainable Development Goals, formed in 2015 the Agenda 2030, which has become the leading benchmark for the financial industry for green finance.

 

Professor Henry Schäfer is holder of the Chair for Business Administration and Financial Economics at the University of Stuttgart. He started his research in SRI and CSR already 20 years ago and is one of the leading researchers in these fields in Germany.

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