Edinburgh to host world summit on ethical finance

Ethical Finance 2019 will be hosted by the Scotland-based Global Ethical Finance Initiative (GEFI), which oversees, organises and coordinates a series of programmes to promote finance for positive change.

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

The summit on October 8 and 9 is supported by the Scottish Government, and bodies represented will include the United Nations, Bank of England, the Financial Conduct Authority, RBS, Baillie Gifford and HSBC.

It is the fourth time the summit has been staged in Edinburgh, and it will be attended by over 400 senior representatives from more than 200 companies and organisations from across the globe, including asset owners and managers, banks, regulators, multi-lateral agencies and academics.

Finance Secretary Derek Mackay said: “Finance is essential to meet the challenges facing our society – from achieving more inclusive economic growth to tackling the global climate emergency. Real change will require a shift in mindset for businesses and governments.
“Edinburgh has long been a centre of financial expertise, and I am pleased that it is now leading the global conversation on the role of finance in society.”

Omar Shaikh, managing director of GEFI, said: “This is a major global summit that brings together the world’s business, political, and social leaders to build a fairer finance system for people, prosperity and the planet.

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

“Ethical finance matters for people because, over the years, trust in banks has diminished and today’s generation of consumers believes that investment decisions should reflect the issues they care about.

“It matters for prosperity because the ethical investment market is worth $25trillion and can create jobs and investment – particularly in Edinburgh - and it matters for the planet because green finance solutions are needed in the face of a climate emergency.

“Now successfully in its fourth year, the summit has established itself as the premier gathering for discussions on finance for positive change, making Edinburgh the HQ of the ethical finance world.”

Kirsty Britz, director of sustainable banking with RBS, said: “We are delighted to be hosting this summit once again this year. Doing the right thing for our customers is at the heart of everything we do. In bringing together leaders from across the world we want to work across sectors and industries to embed sustainability in finance.”