The upcoming United Nations Climate Change Conference, COP28, in Dubai is set to address the goals of the Paris Agreement and accelerate progress towards achieving them. Christopher Greenwald, Head of Sustainable Investing at LGT, a global private bank based in Liechtenstein, believes that discussions at the conference will emphasize the need for sustainability and inclusivity in the transition towards a greener future.
The choice of the UAE as the host country for the conference is seen as an opportunity to bridge the gap between developed and developing nations. The UAE, having transitioned from a developing nation to a developed one, is a major player in both fossil fuel and renewable energy industries. Greenwald highlights the importance of involving the fossil fuel industry in the sustainability transition rather than excluding it.
LGT Group, managing $338 billion in assets, is committed to sustainability and impact investment. Its largest client, the Princely House of Liechtenstein, also owns the bank. The Princely Portfolio, LGT’s largest strategy, aims to reduce carbon intensity by 50% compared to 2018 levels, demonstrating its dedication to decarbonization.
Greenwald argues that integrating sustainability into investment strategies can lead to long-term risk-adjusted returns. LGT takes a comprehensive approach to environmental, social, and governance (ESG) investing, focusing on how well companies manage ESG risks rather than excluding entire sectors. The bank is actively involved in Climate Action 100+, an investor-led initiative addressing climate change.
As a private bank, LGT’s role is to educate clients about sustainable investing options and provide them with tools to navigate the transition. While there may be limited knowledge about impact investing in the Middle East, the region’s wealthy investors prioritize intergenerational wealth transfer and share the principles of sustainable investing.
In summary, the upcoming COP28 conference in Dubai will center around reaffirming and accelerating progress towards the goals of the Paris Agreement. The UAE’s unique position as a bridge between developed and developing countries will play a significant role in fostering sustainability and inclusivity in the global transition towards a greener future.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Middle East |
| Countries | 🇱🇮 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Christopher Greenwald |
| Companies | Princely House of Liechtenstein, Climate Action 100+, Saudi Aramco, LGT Group, Saudi Basic Industries Corporation |
| Currencies | None |
| Securities | None |
