LONDON: Achieving a decarbonized economy is an urgency at this time, but it is very challenging, according to David Schwimmer, CEO of the London Stock Exchange Group.
While speaking at the Future Investment Initiative Institute regional summit in London last Friday, Schwimmer revealed that the LSE Group plays a critical role in this transition as it is a platform that helps issuers raise capital, and it also spends a lot of time with issuers trying to help them understand what is happening.
He added that financiers should work with Environmental, Social and Governance companies and should provide the necessary help to achieve a decarbonized economy.
Noel Quinn, Group CEO of HSBC, said during the session that they made a statement about the sustainability aspect two years ago and are aiming to become a market leader in financing the transition.
According to Quinn, the industrial revolution aimed at an environment-friendly transition requires financing, and HSBC is doing their part to achieve this goal.
Cathrine de Coninck-Lopez, Global Head of ESG, Invesco, said that they are trying 100 percent ESG integration by 2023.
She, however, cautioned that it requires time, resolutions and partnerships.