Archbishop of Canterbury – investors must help avert climate crisis

ByQuantum Communications

Archbishop of Canterbury – investors must help avert climate crisis

The Archbishop of Canterbury, the Most Reverend Justin Welby, has recorded a video for our client, the Global Ethical Finance Initiative (GEFI), ahead of this autumn’s world summit on ethical finance in Edinburgh.

We secured fantastic media coverage in The Guardian, Press Association, The Herald, The Ecologist, The National, Sunday Post, Yahoo News, The Yorkshire Post and many other titles.

More information on the summit, including details on tickets and speakers, is available here: https://www.globalethicalfinance.org/ethical-finance-week-2019/

PRESS RELEASE FROM THE GLOBAL ETHICAL FINANCE INITIATIVE

ARCHBISHOP OF CANTERBURY – INVESTORS MUST HELP AVERT CLIMATE CRISIS

The Archbishop of Canterbury, the Most Reverend Justin Welby, has urged investors to help avert the climate crisis ahead of a global summit on ethical finance.

Archbishop Welby said the investment community has ‘not sufficiently stepped up to the plate’, and said it is in ‘investors’ power to help avert the disastrous consequences’ of failing to achieve the Paris climate change goals.

He has recorded a video for the Global Ethical Finance Initiative (GEFI) ahead of this autumn’s world summit on ethical finance in Edinburgh, Scotland, which will bring together global leaders in business, politics, banking and investment to shape a fairer finance system.

The summit on October 8 and 9 is supported by the Scottish Government, and bodies represented will include the United Nations, the Bank of England, the Financial Conduct Authority, RBS, Baillie Gifford and HSBC, with over 500 senior representatives from more than 200 companies and organisations in attendance.

Ethical finance is a fairer system of financial management that combines profit with better outcomes for people and the planet.

GEFI aims to make Scotland the global headquarters of ethical finance.

The Archbishop of Canterbury, the Most Reverend Justin Welby, said:

“Money is not morally neutral – it can do harm and it can do good.

“At the very least it is the responsibility of investors to take account of environmental, social and governance factors in their investment decisions and in their stewardship of their assets.

“At its best, ethical finance can drive positive change in the world, while still being responsible for its investors.

“It can ensure that while meeting investors’ risk return requirements, investments benefit people and planet.”

Addressing climate change, the Archbishop said ‘the investment community has not sufficiently stepped up to the plate’.

He said: “The situation we find ourselves in has rightly been called a climate emergency.

“We know it’s unquestionable that investors acting together can influence outcomes on everything, including climate change.

“It is in investors’ power to help avert the disastrous consequences – ethical and financial – of failing to achieve the Paris goals.

“Passive investment, with investment decisions controlled and influenced by the algorithms and index calculations, may be the right investment solution for many, but passive stewardship is the answer for no one.

“All investors can make a difference by engaging and voting determinably in support of the Paris Agreement.”

Omar Shaikh, managing director of GEFI, said:

“We need a fairer system of financial management that delivers more than just profit.

“Trust in banks is diminishing following the global crash and today’s generation of consumers – particularly millennials – believe that investment decisions should reflect the issues they care about, such as tackling climate change.

“Green finance solutions are needed in the face of a climate emergency.

“This global summit will explore how to create a better system of financial management that works for people and the planet.”

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