London recaptures top spot in Global Green Finance Index as knowledge and skills base increases
The Institute, as one of the leading global professional bodies in green and sustainable finance headquartered in the UK, is delighted that London has recaptured the top spot in the Global Green Finance Index .
According to the Index, London is now top in terms of ‘knowledge’ and ‘human capital’ but looking ahead notes that “… many respondents identified significant gaps in training provision and expertise as critical factors in reducing the capacity of the sector to maximise growth.”
Having launched the global benchmark Certificate in Green and Sustainable Finance in 2018, and as a founding member of the UK government’s Green Finance Education Charter , we welcome the news that our significant efforts, alongside other chartered bodies, are starting to pay dividends.
Since its launch in June 2020, the focus of the Green Finance Education Charter has been on improving the competence and capability of finance professionals to ensure the sector has the capacity to meet the challenge ahead.
Substantial progress has been made by charter members in:
• Engaging our millions of members, students and followers worldwide on climate change and sustainability issues, and raising their profile within our professions;
• Curating, developing, and promoting a wide range of resources to our members on green and sustainable finance – many of which we have made freely available in the Green Finance Education Toolkit;
• Reviewing professional codes of conduct and augmenting these to reflect green and sustainable finance principles;
• And, developing new certification and Continuing Professional Development (CPD)programmes for finance professionals worldwide.
Meanwhile, our own Institute’s Green and Sustainable Finance Certificate is now available in 40 countries, in partnership with the Chartered Institute for Securities and Investment, UK Finance and others.
Looking forward, to mobilise green and sustainable finance at and beyond COP26, UK and global financial services organisations must pay heed to the education and development of finance professionals. This will require detailed planning by firms to build the capacity and capabilities required, and through this ensure that best practice becomes standard practice.
Simon Thompson, chief executive, Chartered Banker Institute commented: “As a global professional body, which is headquartered in the UK, it is great to see London becoming the top green financial centre again, due to its access to world-leading talent and skills in this area.
We are proud to support these efforts through the successes of our Certificate in Green and Sustainable Finance and our involvement in the Green Finance Education Charter.
But as this year’s index reveals, London should not rest on its laurels, UK financial services will need to substantially upskill and reskill not just small teams of ESG and sustainability specialists, but all finance professionals rapidly, if it is to maintain its position. This is where our world-leading professional bodies are ideally placed to support such endeavours”