The first meeting of the Club of Rome Finance Impact Hub in Brussels brought together officials from the European Institutions, EIB, ECB, Central Banks, Impact Investors, Finance Institutes, Foundations, Academics, and Members of the Club of Rome.
Its primary objective is to explore key areas of change and existing leverage points and commence a co-creation partnership with a community of champions. The focal point of our discussion will be the finance dimension in the system shift.
In order to ensure success, finance must be part of the socio-economic and policy nexus that fuels the shift out of high- carbon, ecosystems destruction and other unsustainable practices. It is through an integral approach, building on short- term system shifts for immediate impact and long-term transitions, where financing change and changing finance go hand-in-hand.
The Club of Rome would therefore see value in leveraging, where possible, existing efforts by the banking sector, Multilateral Development Banks (MDBs), Central Banks, the Private and Public Investment Communities a well as the European Institutions, in their sustainable finance actions.
The Finance Impact Hub will be housed at Triodos Bank’s office in Brussels. Triodos Bank is the world’s leading sustainable bank and will support the Club’s initiative throughout 2020, a critical year for the European Union, as it seeks to make a success of the European Green Deal and mark a turning point in our efforts to emerge from the climate-planetary emergency.
Club of Rome co-President, Sandrine Dixson-Declève: “It is absolutely critical that we shift towards a new financial system which is in true harmony with people, planet and prosperity. The Finance ImpactHubhas three fundamental objectives: to halt all new investments in fossil fuels, to triple investments in clean energy and technologies and, crucially, to support the European Green Deal by accelerating changes in the financial system and translating them into concrete policies, while ensuring a truly just transition.”
Peter Blom, Chief Executive Officer of Triodos Bank and Chair of the Finance Impact Hub:
“There is a real urgency for the financial industry to actively support the transition towards a sustainable, net zero and inclusive economy. Cooperation and joint action between public policy makers, businesses, finance and other stakeholders in society is essential for the financial sector to increase its impact. The Finance Impact Hub will create a collective roadmap for change within the financial system that best serves society and accelerates the transitions that we need to emerge from the planetary emergencies that we face. Triodos Bank supports the Club of Rome initiative, because it is closely linked to our mission since we started 40 years ago: to change the financial system so that it puts people’s interests first while allowing us to live within our planetary limits.”