What does COP28 mean for the future?

Article

COP28 underscores the imperative for detailed transition planning and highlights the vast social and economic opportunities of sustainable change, while financial services are poised to innovate and play a pivotal role in facilitating a just and inclusive transition towards a sustainable future.

Apr 01, 2024

Markus Muller , Managing Director, Chief Investment Officer ESG & Global Head of Chief Investment Office Deutsche Bank, Private Bank , Deutsche Bank AG

Maria Lombardo, Head ofESG Advisory Sustainable Finance, Standard Chartered Bank

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COP28 emphasizes the importance of detailed transition planning and highlights significant social and economic opportunities associated with sustainable change.
Financial services, recognizing the imperative of the transition, are poised to innovate and support the global shift towards sustainability, leveraging mechanisms such as blended finance and high-integrity voluntary carbon markets.
Stakeholder expectations are evolving rapidly in response to worsening climate impacts, driving increased demand for ESG advisory services and a focus on resilience-building across sectors.
The success of COP28 for financial services lies in their recognition of the need to be active participants in the transition process, with a long-term goal of delivering sustained and fair flows of transition finance globally.