FinTech West x UWE Sustainable Finance Workshop
On Tuesday, March 12th, The University of the West of England and FinTech West hosted an event focusing on Sustainable Finance at the University Enterprise Zone. This event represents a first step in bringing together stakeholders in the region to generate action in this important sector.
Thanks to Dharini Mohan for writing the notes about the event and taking the photos. And thanks to Ripley Williamson-King from UWE for helping organise the event and space.
Peter Bradley, Professor of Sustainable Economy at the University of the West of England, opened the event by expressing gratitude to FinTech West for collaborating with the event and spotlighting ongoing initiatives to raise awareness of sustainability.
Stuart Harrison, Director of FinTech West, highlighted the region's leadership in change, noting its reputation for ethical, environmental, and social impact initiatives. Stuart also pointed out that the South West is unique in having WealthTech as a large sector rivalling the size of Payments.
Next, Dagmar Steffens, Head of Strategic Innovation at the West of England Combined Authority (WECA), outlined how sustainable fintech can address the innovation five challenges identified in the new West of England Plan for Innovation.
Alex Ivory, Climate Manager at Bristol City Council, discussed Mission Net Zero and emphasised that while the South West has the necessary ingredients for success, there is insufficient public funding to address climate change adequately.
Sketch courtesy of Martin Barnes
Kai Johns from Rathbones addressed the issue of water scarcity and net zero, demonstrating the correlation between increased wealth and consumption. During the discussion, the speakers remarked that when examining the EU, influential decisions are frequently driven by regulations. This comparison accentuates that the real challenge lies within democracy, education, and support rather than mere financial incentives.
Vasco Vendrame, Associate Director and Senior Lecturer in Accounting and Finance at the University of the West of England, provided insights into ESG ratings and investing, emphasising that traditionally investors have prioritise risk and returns but there is a rapidly growing focus on ethical investment and investment in more sustainable portfolios.
Dalia Eledel, Associate Director and Senior Lecturer in Economics and Finance at the University of the West of England presented empirical findings about incorporating ESG investments within financial portfolios. Dalia also stressed the importance of determination when it comes to resolving the regulatory and institutional gaps and challenges, stating that "if there's a will, there's a way."
The event concluded with a themed discussion covering topics such as policy/regulatory compliance, just transition and private finance, the role of FinTech in sustainable finance, and climate risks and mitigation. We observed that there is still much to explore and study regarding the true definition of sustainable finance and the role of fintech in driving sustainability.
The workshop ended on a positive note with a pleasant lunch and plenty of further discussion, serving as a reminder that sustainability efforts should continue beyond the event.