Fri. Dec 3rd, 2021

After reading Gillian Tett’s column (“Green transition may depend on auditors”, Opinion, 5 November), it was good to see the decarbonisation commitments made by the Glasgow Financial Alliance for Net Zero.

However, ambitious medieval net zero and interim targets will not be achieved without a similar collective ambition to build the capacity, capabilities and culture of the banking and financial professions so that every professional financial decision truly takes into account climate change – and broader sustainability. take. account.

To pass the “Carney test” will not be enough to simply increase the number of environmental, social and managerial, climate risk and sustainability specialists working in finance. Every professional working and supporting in finance must develop a knowledge of climate change and sustainability and be able to apply it in the context of their role.

What is currently considered best practice in some advanced institutions – which include ESG and sustainability in investment and lending decisions – should be standard practice on finance, setting new norms and professional standards for the GFANZ era.

Simon Thompson
CEO, Chartered Banker Institute, London EC2, UK

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