Market Infrastructure as a Catalyst for Scaling Sustainable Finance

At the center of the world's capital markets, we at BNY Mellon have been thinking about the ways market infrastructure can serve as a catalyst for further progress toward sustainability. This week, we held the inaugural Future First Forum, bringing together global leaders and experts to discuss enablers and obstacles to the evolution of green finance, as well as the importance of global taxonomy convergence around ESG.

I (virtually) sat down with Dr. Rhian-Mari Thomas, Chief Executive of the Green Finance Institute, David Harris, Global Head of Sustainable Finance at the London Stock Exchange Group, and David Lukas Rozumek, Senior Financial Expert at the IMF to discuss how the financial services industry can establish a foundation for progress and scale sustainable investments. Below are some key points I found particularly interesting from our conversation:

We focused on the role of data and analytics platforms in helping companies and industries go green, while also evaluating areas where policies limit progress.

We also discussed ways in which BNY Mellon can help improve the foundation supporting ESG efforts, acknowledging that market participants require solid architecture from financial institutions to achieve initiatives and commitments.

Panelists agreed on the need for globally agreed-upon standards, data, and taxonomies to facilitate progress. Forum participants were enthusiastic for even greater alignment moving forward, encouraging the U.S. to work closely with nations throughout the world rather than creating a new, separate taxonomy.

I enjoyed the opportunity to talk through these topics and more with global leaders in the space. Throughout our discussion and across the various panels today at the Future First Forum, the theme of collaboration rose to the top. We are in an unprecedented transition as an industry, but also as a society more broadly, and we have a lot to learn from each other. I am looking forward to continuing the conversation, and hope to see you all in person at next year's Future First Forum.