Sustainable finance and investment are also driving change in the industry. Large global banks, like Morgan Stanley, see opportunities in developing ‘green’ revenue streams, from carbon trading to financing the estimated $50 trillion required for a net-zero future by 2050. This shift departs from traditional financial practices, emphasizing environmental, social, and governance (ESG) considerations. Investors, from pension funds to individual shareholders, are increasingly integrating ESG criteria into their strategies, seeking opportunities that align with ethical and sustainable principles. Sustainable investment funds, green bonds, and ESG-linked financial products have gained popularity, reflecting the demand for investments that contribute positively to both financial returns and the planet. For example, Bank of America aims to achieve net-zero emissions in its operations and supply chain by 2030. HSBC, on the other hand, targets $1.5 trillion in sustainable finance by 2030 to support the transition to a low-carbon economy.
Sustainable finance and investment are also driving change in the industry. Large global banks, like Morgan Stanley, see opportunities in developing ‘green’ revenue streams, from carbon trading to financing the estimated $50 trillion required for a net-zero future by 2050. This shift departs from traditional financial practices, emphasizing environmental, social, and governance (ESG) considerations. Investors, from pension funds to individual shareholders, are increasingly integrating ESG criteria into their strategies, seeking opportunities that align with ethical and sustainable principles. Sustainable investment funds, green bonds, and ESG-linked financial products have gained popularity, reflecting the demand for investments that contribute positively to both financial returns and the planet. For example, Bank of America aims to achieve net-zero emissions in its operations and supply chain by 2030. HSBC, on the other hand, targets $1.5 trillion in sustainable finance by 2030 to support the transition to a low-carbon economy.