SUSTAINABILITY beginnings of any real progress .
“ The roadmap is a very good first step , but the devil is in the implementation side ,” he says . “ The challenge is not about what to do any more , the challenge is how to do it and how quickly .
“ When I started working 10 or 15 years ago , sustainability was not on the agenda in the financial sector , but now it is . We all agree that we have responsibility but now we need to figure out how to meet it .”
The UN and World Bank research backs Beslik ’ s assertion , showing
“ The UN and World Bank roadmap for a sustainable financial system includes three major insights : a definition of sustainable finance , clear mapping and certain actions ”
CARINE GIRARD , Finance Professor at Audencia Business School that policy and regulatory measures targeting sustainability have grown 20 % year on year since 2010 .
“ I think it ’ s a very ambitious road map ,” Beslik continues , “ but a good first step . The magnitude of this transition that we need to happen in the financial sector is huge , but it ’ s so needed . And it needs to happen much more quickly , because while you and I can do things on a personal level to , say , reduce our private impact , we are digging a hole beneath ourselves if we don ’ t get financial systems to act much more swiftly on this .”
But is Beslik , who works as Head of Group Sustainable Finance at Nordea Bank , surprised at how often these challenges are ignored by vast swathes of the market ?
“ Saying we a long way to go is an understatement , but all of us have seen more focus on sustainability within the financial sector over the last three years , purely because more players are understanding the market opportunity in this from the product side . Also I think some are feeling more pressure , both from regulators and from customers , and they think they need to take a stance on this .”
Carine Girard , Finance Professor
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