Read the analysis I wrote for Finrestra.
European banks with an explicitly green or sustainable profile:
- ABN AMRO Groenbank1 (NL)
- ASN Bank2 (NL)
- BOŚ Bank (PL)
- ING Groenbank3 (NL)
- Rabo Groen Bank4 (NL)
- UmweltBank (DE)
- Alternative Bank Schweiz (CH)
- APS Bank (MT)
- Banca Etica (IT, ES)
- Cultura Bank (NO)
- Ekobanken (SE)
- GLS Bank (DE)
- Merkur (DK)
- Triodos Bank (NL, BE, ES, UK, DE)
I’m trying something new. I’ve started making videos about banking, monetary policy and sustainable finance.
I’m still trying to figure out the best format. But I already like the ability to use graphs and pictures. Compared to blogging, video is less nuanced. For example, you can’t link to all sources. But maybe that’s an advantage.
Here’s the first one, let me know what you think!
A first assessment by the Banque de France.
- Money laundering in the Democratic Republic of the Congo
- The era of central bank convergence is over
- How can the ECB unleash building renovations
- Policy comes first, economic theory follows (JW Mason on Biden’s American Rescue Plan)
- The Jersey Way
- CLOs in Dublin
- Primer on money-laundering (Bribe, Swindle or Steal podcast)
- Corruption in the U.S. 7th fleet (Bribe, Swindle or Steal podcast)
- Tommaso Valletti on how the EU anti-monopoly system works in practice (On the role of economic consultants arguing in favor of M&A: “They produce a glossy pamphlet with three nice pages: exactly what the judge needs, he can say ‘ah, here is a counter-argument, here is an anecdote to rebut this. So, nobody knows’.”; On the capabilities of the EU: “DG Comp has less than 1000 people for half a billion citizens.”)
- Marbella, united nations of drug traffickers
- Alessia del Vasto and Rachel Oliver on their campaigns to change central banking:
But what do green investments mean in practice?
A report by Common Wealth found that some climate-themed funds invest in oil & gas companies such as ExxonMobil. More broadly, the largest holdings of climate funds were Big Tech and finance. Adrienne Buller, the author of the study, writes “what do these ostensibly climate-focused funds really contribute to combatting the climate crisis, reducing emissions or driving a rapid transition to low carbon economic activities? There is nothing in the specific labelling or remit of these funds that would require them to invest in the green economy, in financial instruments design to drive the transition of business models to lower carbon activities, or other similar investments.” (emphasis mine)
There are plenty of metrics by which providers assess climate risk. Given different methodologies and the complexity of estimating climate risk, there is some divergence in the metrics. However, Chiara Colesanti Senni and Julia Anna Bingler do find that “metrics tend to converge for companies that are most and least exposed to climate risk”.
Data and tools for monitoring climate change and financial assets:
Organizations promoting green finance:
- 2 Degrees Investing Initiative (2DII)
- Climate Bonds Initiative
- KR Foundation
- Network for Greening the Financial System (NGFS)
- Pacte Finance-Climat
- Reclaim Finance
- UN Environment Programme Finance Initiative (UNEPFI)
- Net-Zero Banking Alliance (related to UNEPFI)
Organizations advocating broader economic change, including green finance:
Afme has a nice handbook on primary dealers in Europe. I’ll write about some financial geography insights I gained from this document in the future.
- Dublin: IFSC
- Frankfurt: Frankfurt Main Finance
- London: TheCityUK
- Luxembourg: Luxembourg for Finance
- Madrid: Madrid Investment Attraction (financial center lobby is part of general lobby for the city)
- Paris: Paris EUROPLACE
- Zurich: Finanzplatz Zürich
- Alternative Investment Management Association (AIMA)
- Association for Financial Markets in Europe (AFME)
- European Banking Federation (EBF)
- National banking associations (see map at the bottom of the page)
- Institute of International Finance (IIF)
- Insurance Europe
- Invest Europe
Bank of China and ICBC are obviously Chinese banks. Less well-known, the following banks are also controlled by Chinese shareholders: