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November

14
  • Climate Finance IFS Cork

    Climate Finance is key to Low Carbon Economy

    Written by:
    • Release of Ireland’s Second Annual Responsible Investment State of Play Report 2019
    • Marking Environmental, Sustainable and Governance (ESG) Day as part of Climate Finance Week 2019

    The Cork Financial Services Forum welcomed the release of Ireland’s Second Annual Responsible Investment State of Play Report 2019 in Cork today with an event jointly hosted by Deutsche Börse/Clearstream in their new offices in Navigation Square. The event takes place on ESG Day and forms part of Ireland’s Climate Finance Week 2019 activities.

    Eoin Motherway, Chair of Cork’s Financial Services Forum, commenting at the event said, “With Sustainable Finance being a key theme of the government’s Ireland for Finance strategy, it is vital that we grow the Irish investment portfolio in climate finance and sustainable investing. Today’s event was an opportunity to discuss best practice in furthering the environmental, social and governance (ESG) agenda for investors and asset managers across Ireland. Cork has the largest cross-sector of IFS firms and disciplines in the country, outside of Dublin, and is home to a growing financial services cluster, which now includes companies actively asset managing or servicing ESG investment products.”

    “The importance of climate finance to Ireland’s transition to a low carbon economy is crucial. With an overall national target to reach net zero carbon emissions by 2050, the growth of sustainable investment opportunities and portfolios is key to achieving this transition. The release of the State of Play report is an important means of tracking our progress in this area, and Cork Financial Services Forum are happy to support this activity as part of Climate Finance Week.”

    Celine McInerney, Climate Finance expert and keynote speaker, “Climate finance, through responsible investment, is pivotal to Ireland meeting commitments under the Paris Climate Accord, and to achieving our responsibilities to meet the global Sustainable Development Goals. We need accelerated market engagement with Climate Finance, and today’s release of the State of Play report provides a comprehensive review of activities to date. The State of Play report seeks to raise awareness of the environmental, social and governance (ESG) agenda for responsible investing, reporting on the ESG drivers and mapping Ireland’s progress, concluding with a set of recommendations to drive progress. There is a significant opportunity for Ireland and Cork to diversify and strengthen investment and asset portfolios and take the lead.”

    Kristina Jeromin, Deutsche Börse Group’s Head of Sustainability said:  “As initiator and co-chair of the Green and Sustainable Finance Cluster Germany, Deutsche Börse Group is actively involved in shaping the sustainable development process in Europe. We are delighted to support the Cork community with this important event as part of Climate Finance Week Ireland 2019.”

    David Brosnan, Head of Clearstream Global Funds Operations and the Cork location, said: “We are particularly pleased to be hosting this event in conjunction with Cork Chamber Financial Services Forum and Sustainable Nation Ireland as our employees and their families share our strong interest in addressing the challenge of climate change as part of our community.”

    -ENDS-

    Cork Chamber is the leading business organisation in Cork supporting and representing the interests of close to 1,200 businesses employing over 100,000 people in the region. In 2019, Cork Chamber celebrates its 200-year anniversary. For further information please visit www.corkchamber.ie

    Cork Financial Services Forum is committed to promoting the Cork region as Ireland’s second centre for Financial Services via Cork Chamber’s Connecting Cork initiative.  The Forum is comprised of 20 members that represent the wide depth and breadth of the International Financial Services sector in the Cork region, as well as the local agencies and education institutes that support the development of economic growth in the region. For further information please visit www.connectingcork.ie

    Sponsored by AIB and convened by Sustainable Nation Ireland with the Department of Finance, Climate Finance week will include talks and discussions on sustainable investment strategies as well as information on the opportunities that will arise as Ireland transitions to a low-carbon economy.

    Climate Finance Week Ireland 2019 takes place from November 4th to 8th and brings together many of Ireland’s top decision-makers, financiers, policy makers and climate change experts. The weeks’ events are aimed at helping businesses to focus on sustainable finance and responsible investment. For further information events running during Climate Finance Week 2019, please visit https://climatefinanceweek.ie/.