Namely, when asked what developments show that there are better assessments on climate risks, Ms. Howarth said that its is positive that the biggest fund managers support requirements on companies to address climate risk. However, high-carbon companies are not showing a high level of commitment towards adopting a low-carbon strategy.

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In addition, through green financing we can rethink some of the culture, structures and practices that have not been healthy in the capital market. What is also important is the fact that green financing must serve ordinary people, in order to help them look at environmental issues, which are often overlooked.

Moreover, if the financial markets focus more on environmental matters, this could lead to a transformation towards a low-carbon world, Catherine Howarth concludes.