Recording

Organizer

This session was organized by HSBC

Background

The panel discussion aimed to showcase collaboration among international banks to address the pressing issue of climate change. Hosted by HSBC, one of the largest international banks, the session provided a platform for in-depth conversations about the pivotal role that banks play in enhancing capacity building to accelerate climate finance on a larger scale.

Objectives

The objective of this panel was to facilitate a comprehensive discussion among key stakeholders, including representatives from international banks, climate finance experts, and policymakers. The focus was on understanding and leveraging the potential of banks in building capacity across various sectors to mobilize and allocate climate finance effectively.

Speakers

Moderator

Olga Touloumi, HSBC

Key Outcomes

• Sustainability must be embedded throughout the bank – must be a cultural and mindset change. From Board right down to each individual employee. The scope and speed of the transition needed is huge, hence capacity building intra-FIs to upskill everyone involved must be a priority. There is also a great opportunity for inter-FIs collaboration on capacity building and knowledge sharing.
• The biggest impact banks can have is their scope 3 – financed emissions, therefore banks need to set Net Zero strategies and start engaging their clients in this process. Transition plans bridge the gap between disclosure and targets/Net Zero commitments
• Data is an implementation challenge across the board. Consistent and comparable data needs to be available but this is a huge challenge both from a technology perspective but also politically.