IFC + ESG: Rethinking the Mission of Financial Centers
The financial and investment markets have undergone profound changes over the past decade. These have included a new regulatory landscape in the wake of the 2007–2008 crisis, rapid digitalization, the creation of a new class of green assets, the development of new investment models, and of course, the impact of the COVID-19 pandemic. The latest global challenge – the transition to a low-carbon economy – has already been included in many governments’ post-pandemic green recovery strategies. The decarbonization agenda has placed completely new requirements on economic agents, be they investors or business operators. This is affecting how investment projects are structured, financial instruments are selected, and how the entire investment and production chain is monitored. And financial institutions, investment agencies, investment funds, and global corporations are not the only key players in these processes – civil society and non commercial actors are also strong advocates. As economic models are being rethought, how should investment mechanisms be adjusted, and how should institutions, financial instruments, and business models be transformed to align with sustainable development policies and the ESG agenda? What is the role of financial centres in this process, and how might they contend with the challenge of developing new practices and skills needed for a low-carbon economy? What steps should finance centres take to become efficient distributors of capital based on sustainable development principles at a national and global level?
Maria Gordon, Senior Independent Director, Polyus; Senior Independent Director, ALROSA; Chairman of the Board of Directors, Independent Director, Detsky Mir; Independent Director, Moscow Exchange
Jochen Biedermann, Managing Director, World Association of International Financial Centers (WAIFC)
Alexander Voloshin, Chairman of the Board, Analytical Center "Forum"
Oleg Vyugin, Chairman of the Supervisory Board, Moscow Exchange PJSC
Hubertus Vaeth, Managing Director, Frankfurt Main Finance e.V.
Kairat Kelimbetov, Governor, Astana International Financial Center
Anna Kuznetsova, Deputy Chairman of the Board, Russian Agricultural Bank
Lamia Merzouki, Deputy General Manager, Casablanca Finance City; Co-Chair, Financial Centers For Sustainability Network (online)
Oleg Sysuev, President, First Deputy Chairman of the Board of Directors, Alfa-Bank
Henk Jan Hoogendoorn, Managing Director of Financial Sector Office, Qatar Financial Centre
Sergey Shvetsov, First Deputy Governor, Central Bank of the Russian Federation (Bank of Russia)
Front row participant
Anatoly Valetov, Acting General Director, Moscow Innovation Cluster