Climate change is expected to exacerbate that situation, as warmer temperatures and rising sea levels contribute to an increasing frequency of storms, heavy rainfall, heatwaves and wildfires.
Reputations are formed by a company’s actions, its behaviour and performance; reporting, a common language and global standards will help to create a framework to help investors and regulators understand if a company is truly walking the walk.
A failure to consider long-term sustainability and contributions to decarbonisation, protection of local ecosystems and biodiversity could set us back by decades in achieving our Paris Agreement goals.
Dr Andy Sloan, Chair of Guernsey Green Finance, explains how the jurisdiction has become a leader in green and sustainable finance.
Justin Hallett, Executive Director at BDO in Guernsey, considers the future for sustainable finance after the coronavirus pandemic.