Why Sustainable Finance? Why Now?

Abstract

After the failure of the UN climate talks in Copenhagen in 2009 a small group of finance experts decided to find ways to use the power of finance to tackle the climate emergency. Through developing ideas like 'stranded assets' and 'carbon bubble' they managed to convince financiers and bankers of the risks of not addressing the climate and environmental crises. This was the birth of the sustainable finance agenda. But it coincided with citizen efforts to channel finance away from destructive activities, especially through divestment from fossil fuels and avoiding banks that were investing in destructive activities.