Our planet is facing unprecedented challenges related to climate change, biodiversity loss, food insecurity, migration, geopolitical fragmentation and economic downturns. As sustainable investing continues to gain momentum, four major forums hosted by Building Bridges, the Global Impact Investing Network, the Global Steering Group for Impact Investment and the Principles for Responsible Investment took place from 2-5 October to call for urgent global action.

What will it take to mobilize the trillions of dollars required to mitigate climate risks and reduce social inequalities? This central question has been intensely debated in Geneva, Copenhagen, Malaga and Tokyo during a series of discussions earlier this month. Accelerating the decarbonization of the global economy, restoring our natural ecosystems, and driving social progress will require systemic change and collaboration. Over 6400 participants from diverse sectors exchanged perspectives and confronted opinions on strategies to realign capital flows with sustainable and inclusive projects, and showcased new investment practices. These international dialogues stressed the importance of global solidarity and the development of new partnerships to achieve the Sustainable Development Goals and ensure that no one is left behind. While the recently launched standards of the International Sustainability Standards Board (ISSB), and the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations will be a game changer for the improvement of investment decision-making for businesses and financial institutions, collaboration between sectors, geographic regions and generations will be essential to realign our economic models.

Advancing Sustainable Finance: Highlights from global conferences

The 2023 edition of Building Bridges convened over 2500 participants from 111 countries in Geneva to advance sustainable finance and address the interdependence of human, social, natural, climate, and financial capital. The conference highlighted the importance of building bridges between all stakeholders involved in the transition through 70 action-oriented events. It gathered key figures leading the transition such as Elizabeth Maruma Mrema, TNFD Co-Chair, Sigrid Kaag, Deputy Prime Minister of the Netherlands, Ngozi Okonjo-Iweala, Director General of WTO, Sandrine Dixson-Declève, Co-President of The Club of Rome who stressed the need to join forces between the public and private sectors to unlock capital for climate, nature and social inclusion. Patrick Odier, Chair of Building Bridges, called for the implementation of concrete solutions: “We possess the scientific data and facts; we have the relevant technology, the means and the resources to act. We now need to be bold and brave, and move from the ‘what’ to the ‘how’ and from the ‘when’ to the ‘now’”. The edition also hosted key initiatives that are shaping the global sustainable finance agenda such as TNFD, the second Sharm el-Sheikh dialogue established during COP 27 to identify pathways to make finance flows consistent with low GHG emissions, and Seedstars’ community who has been transforming entrepreneurial programs in emerging markets for ten year.

The Global Steering Group for Impact Investment (GSG) hosted its highly anticipated Global Impact Summit in Malaga earlier this month. In partnership with SpainNAB, the Summit brought together over 1000 impact leaders, policymakers, and investors from over 60 countries. From reflecting on the latest achievements of the impact movement to sharing insights and lessons learned to discussing the way forward, the Summit focused on mobilizing capital for people and the planet, achieving impact transparency, and building impact economies. Speakers included Emmanuel Faber from the ISSB on the next steps for impact transparency, Hamdiya Ismaila from the new Ci-Gaba Impact Fund of Funds in West Africa, Carmen Correa from Pro Mujer on the gender equity bond in Latin America and Myung Soo Kang from the Korean Standards Association about impact transparency in Asia. Attendees left the Summit with a clear call to action: accelerate capital mobilization to where it is most needed.

Principles for Responsible Investment (the PRI) hosted its 15th annual PRI in Person conference in Tokyo from 3-5 October 2023. The conference, which attracted nearly 1,400 delegates from 52 countries and over 700 organizations, focused on the theme Moving from commitments to action. Highlights included an opening keynote address from the Prime Minister of Japan, Fumio Kishida, in which he expressed the Japanese government’s commitment to sustainability outcomes and announced that seven public pension funds would enter the process of signing up to the PRI. This year’s conference also incorporated an enhanced focus on nature, with discussions on the need for investors to take holistic action on climate, nature and human rights, as well as deep dives into TNFD and the launch of Spring, a new collaborative stewardship initiative on nature.

The GIIN Impact Forum gathered over 1500 global impact investors from October 4-5 in Denmark to build relationships, share insights about new strategies, learn the latest industry developments, and explore ways to drive continued momentum and growth in the market. The conference highlighted that all future investments will need to integrate the environmental and social benefits they generate. The GIIN and the Centre for Impact Investing and Practices also announced a strategic initiative aimed at fostering the growth and development of impact investing education worldwide. This initiative aims to enhance investment professionals’ knowledge and skills to help to scale the impact investing industry with integrity. CIIP has awarded the GIIN grant funding to develop a foundational impact investing educational program for investment professionals, including chief investment officers, fund managers, portfolio managers and analysts.

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Building Bridges’ 4th edition will open with a High-level Summit that will explore the interdependence of human, social, natural, climate and financial capital with prominent thought leaders.

The Summit will be followed by 3 Action Days that will address the latest trends in sustainable finance, and dive into the investment opportunities and challenges generated by climate change, nature loss, technology, and emerging markets.

Our Building Bridges Village will provide unique opportunities to network with key figures of the industry and like-minded institutions that wish to contribute to a fairer and just transition.

Our 4th edition will host key initiatives that will pave the way for global frameworks and standards. We are proud to announce that the Taskforce on Nature-related Financial Disclosures chose to launch its new framework that will help businesses integrate nature into their decisions at Building Bridges 2023.

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“The ambitious TNFD framework will guide companies to identify, assess and understand their impact on nature to support a shift in global financial flows away from nature-negative outcomes towards nature-positive ones. We are proud to help reverse nature’s loss with this European launch at Building Bridges 2023.”

Elizabeth Maruma Mrema, TNFD Co-Chair 

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“Building Bridges is more than an event! It is a place where people can learn, share experiences and connect with actors who are leading the transition toward sustainability. With this 4th edition, our ambition is to become THE platform that will host the discussions, projects and voices that will shape our sustainable future.”

Patrick Odier, Building Bridges Chairman

The post Join us at Building Bridges 2023 to shape our sustainable future! first appeared on Building Bridges.

As explained by Patrick Odier, President of Building Bridges and Swiss Sustainable Finance, responsible investing in Switzerland has been evolving since the mid-1990s.

“The concept was not discovered and implemented recently; the country has a long history in developing innovative sustainable finance solutions that few others can offer,” he notes.

The knowledge gained throughout the years has also enabled Switzerland to be one of the first countries to adopt a methodological approach towards sustainability – the Swiss Climate Scores. Through this approach, financial institutions are not forced to take any action, but are instead encouraged to identify steps through critical thinking and scientific examination, and voluntarily implement the necessary measures to achieve sustainable investments.

“This approach has been made possible by the high level of trust and the fluidity of dialogue we have between the authorities and the sector. Banks and Asset Managers have been asked not only to propose practical measures, but also concrete strategies to self-regulate in this respect, both at the product and point of sales levels,” Patrick Odier says.

He also points out the internationality of the Swiss financial sector which not only brings in more ideas, but also makes it more attractive for innovative sustainable investment opportunities.

“Middle Eastern investors in particular find Switzerland very appealing also due to the similarities between Sharia principles and the Swiss philosophy towards sustainable finance,” Odier concludes.

Interview published in the Invest in Switzerland issue of the Arabian Business Magazine in May 2023

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