Class presentation assembly on sustainable finance
Stage 8 March 2020
This year at Mayfair we have been focusing on Global Goal 12: Responsible Consumption and Production. Achieving economic growth in sustainable development requires that we urgently reduce our ecological footprint by changing the way we produce and consume good and resources, helping us to move towards more sustainable patterns of consumption by 2030.
So, what is sustainable finance? Sustainable finance is complex and complicated to understand, we want to try and make it simple. Sustainable finance refers to a new form of financial service that combines environmental, social and governance criteria into the business or investment decisions for the lasting benefit of both clients and society at large. In other words, deliver more sustainable, longer term profits that take account of both social, and environmental consequences. It means investing in our future.
The financial decisions that you make do have an impact on what you care about – be it the climate change, the environment, or the living wage. Sustainable finance is more than just investment. Think about all aspects of your money. Start asking questions of the provider of your bank account, savings account or credit card. Does the provider act responsibly? Many major banks do valuable work with local communities, educational schemes and social enterprises. Ask yourself, could they do more?
The road towards a sustainable future is not a straight line but a whole network of different paths that all lead to a common goal – sustainability. Sustainable finance is one of these paths and its impact is felt in many areas of our society. How can this be, you might wonder? What do projects like energy efficiency in day-care centres, schools in Ukraine, wind-farms in Denmark and gender equality in developing countries have in common?
First of all, they all contribute to a sustainable future. Secondly, they are all financed by financial institutions – banks.
Our Stage 8 learners showed us what this means. We hope you have a little more understanding of what sustainable finance means.
Invest in our future!
SOURCES:
- United Nations, ‘Goal 12: Responsible Consumption and Production’, n.d., https://www.undp.org/content/undp/en/home/sustainable-development-goals/goal-12-responsible-consumption-and-production.html, accessed March 2020.
- Swiss Sustainable Finance, ‘What is Sustainable Finance?’, n.d., https://www.sustainablefinance.ch/en/what-is-sustainable-finance-_content—1–1055.html, accessed March 2020.
- Taotao, Yue, ‘Different Paths Towards Sustainable Biofuels?: A Comparative Study of the International, EU, and Chinese Regulation of the Sustainability of Biofuels’, 2016.
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