With as many as 450 financial institutions, banks, insurers and asset managers committing to invest $130 trillion of private money to help the world become a net-zero carbon emitter by 2050, ESG opportunities in the financial services sector will abound for years to come. $130 trillion approximately equals 40% of all asset under management, globally.
The deal was brokered by former Bank of England governor Mark Carney, who helped bring together financial institutions from 45 different countries at the recent United Nation’s COP26 Climate Change Summit in Glasgow. From now on, financial services firms will have to issue more green bonds, publish mandatory sustainability disclosures, carry out proper climate risk surveillance, increase their global ESG reporting standards, as well as improve the consistency of data in fields such as climate change.
This global effort will require an army of bankers, experts, scientists, quants, portfolio managers, sales teams and marketing officials, among many others. This means that a traditional economics and financial background may not be enough; candidates will have to sharpen their sustainability knowledge to access the many opportunities in the field (don’t miss our recent article on ESG accreditations).
To read more about the top ESG jobs in banking and finance, click here.
