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Delphi Economic Forum: Practices, Objectives and Next Steps to Sustainable Investment

In adopting new practices of companies with a view to sustainable development with climate neutrality by 2050, ie a drastic reduction of carbon emissions, which is now a global priority, said the participants in the relevant discussion on investing in a sustainable future, in the work of the first day of the 7th Economic Forum of Delphi, which takes place in Delphi April 6-9 and is under the auspices of SA. of the President of the Republic, Mrs. Katerina Sakellaropoulou.

Citi Vice President, Global Co-Head, Sustainability & Corporate Transitions, Keith Tuffley spoke of a great opportunity, noting that the Citi group does a lot.

“We are setting standards for the shipping industry by working with other banks. We are aiming for a range of partnerships, developing the Net Zero plan. However, we want the initiatives to be integrated globally. The G Fund is a global partnership with stakeholders committed to reduce carbon emissions, “he said, among other things.

He noted, however, that there is a big difference between the goals and the investments, noting: “Only 5% of a specific group of companies have capital that aligns with these goals. We must implement our commitments”, while noting: “There have been impressive reactions from “There have been more commitments from the financial sector to reduce carbon emissions. There is an acceleration in the transition to zero emissions. Some countries will find it very difficult to move forward on the basis of domestic Renewable Energy Sources.”

He stressed that there is the possibility of support and consulting companies towards the goal of zero emissions. “Investors have become much more ‘activists,'” he said.

Jennifer Merli, Vice President, Corporate Sustainability of Mastercard Jennifer Merli, spoke about practices that she said “are beneficial to all involved”.

“We are investing in Renewable Energy Sources and opportunities that have an exponential effect. We are working with 20,000 banks and coming out of the epidemic crisis but not the energy one. We have started a new sustainability program with our partners. We are trying to reduce the energy footprint,” he said. including.

She referred to the launch of the Priceless Planet Coalition in 2020, which, she said, makes her more optimistic about global energy targets for reducing carbon emissions. “We started it and then we were at the beginning of the pandemic. We now have 100 partners who have spent a lot of money on the climate. We could achieve a lot with b2b,” he added.

For his part, Peter Gassmann, Global Leader of Strategy, Global ESG Leader of PwC, spoke of huge opportunities for the Economy to proceed with its ESG (Environmental, Social and Corporate Governance) reform.

“It’s something that needs a lot of investment. But there have to be common standards, specific data to do that. There is a chaos of regulations, so starting we have the rating system and some specific standards that need to be re-evaluated. Investors and clients are confused by everything. “There are many different requirements,” he said.

The sustainability expert of the Hellenic Foundation for European and Foreign Policy (ELIAMEP) and coordinator of the discussion, Cheryl Novak, noted that companies are now focusing on solutions together with the transition. “We need new tools based on the ESG,” he said, adding that he was optimistic that the talks showed that the goals could be achieved, although the necessary steps needed to be taken.

Source: Capital

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