Monday 18 June 2018

Dublin among 10 major cities driving growth of global green finance centres

Stephen Nolan of Sustainable Nation Ireland.
Picture by Shane O'Neill, SON Photographic.
Stephen Nolan of Sustainable Nation Ireland. Picture by Shane O'Neill, SON Photographic. Newsdesk Newsdesk

DUBLIN is part of a new UN-supported global network of major finance centres pushing investment and capital into projects that are sustainable and tackle climate change.

At a meeting in Morocco this week, Dublin joined cities including London, Paris, Hong Kong, Shanghai and Stockholm as the inaugural signatories of the ‘Casablanca Statement’, creating a global network of financial centres to further international cooperation in the sustainable and green finance agenda.

The meeting was co-hosted by the United Nations Environment Programme’s (UNEP) Finance Inquiry.

The inclusion of Dublin is seen as a huge boost to efforts to promote Ireland as a sustainable and green finance hub and shift capital into more sustainable and non-polluting investments.

Sustainable Nation Ireland, the body tasked by the Government in the IFS2020 Strategy to promote Ireland as a hub for green finance, signed the statement on behalf of Dublin’s financial services centre.

According to Nick Robins, co-director of the UN Environment Programme's Finance Inquiry:“Earlier this year, the G7 meeting of Environment Ministers recognised the importance of financial centres to support climate action. They are the key places where the expansion of green and sustainable financial services will need to be accelerated across banking, capital markets, investment and insurance to make progress on climate change and sustainable development.”

Stephen Nolan, CEO of Sustainable Nation Ireland, who signed the Casablanca Statement for Sustainable Nation Ireland, warmly welcomed Dublin’s inclusion as a signatory in the new network.

He said: “With Government and policy backing since 2012, Ireland was the first country to make attracting Green Finance a strategic priority. Today, on the back of a world-class green finance cluster, we already have €28 billion of green finance activity in Ireland.

“With much to add to the global debate on sustainable and green finance, we warmly welcome the establishment of this new international network. We are very proud to be a founding member and for our leadership to be recognised. Climate change doesn’t recognise borders.

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