News 5 November 2019 2:00 PM

Solutions for sustainable finance discussed in Helsinki

The Ministry of Finance and the Bank of Finland co-hosted on 30–31 October an international conference, ‘Greener Finance for Sustainable Future’, which addressed the role of sustainable finance in climate change mitigation.

Financial markets and sustainable finance can play a significant role in the mitigation of climate change. The Greener Finance for Sustainable Future conference contributed to the resolving of issues concerning sustainable finance, as a variety of perspectives, ideas and solutions were introduced to the international discussion.

Sustainable finance and risks took centre stage

Climate issues and the role of the financial markets in climate change mitigation were discussed in the conference from a variety of perspectives. The two-day conference included a number of cross-sector presentations and panels. The main issues that arose during the conference were:

Climate targets may not be achieved, unless the financial sector participates in climate change mitigation.
We have the funds for the solutions, but they should be redirected to more sustainable investments.
Financial markets need a harmonised set of concepts (taxonomy) on sustainability.
Understanding climate risks requires cooperation between public and private sector entities.

The introductory speeches were delivered by Minister of Finance Mika Lintilä and Bank of Finland Governor Olli Rehn.