I have to be honest, I did not expect any revelations from the first day of WBCSD Liaison Delegate Meeting. I was prepared to watch my convictions being tested later on, as more candidates show up. Therefore, the last thing I was expecting as I was entered a session on finance was that all of my initial impressions about the Environmental Finance would be proven completely wrong.
Studying economics I am aware that Environmental Finance is a relatively new field, which essentially relies on green bonds as a main financial instrument. I was quite sceptical when the concept was first introduced to at University, as for me it was rather difficult to believe that financing climate change solutions could be attractive to the investors. The fact that green bonds were introduced just in 2012 seemed as an additional argument against the attractiveness of this type of financial instruments. Therefore, I presumed the whole meeting would consist of the attempts made by the speakers to justify the existence of green bonds, and to convince the attendees that their companies should invest into climate change solutions.
However, to my surprise, a considerable part of the session was devoted to a discussion of how successful and refreshing the idea was. Throughout the rest of the discussions I listened to how advanced and developed the system is, although the opportunities for improvement are still clearly presented.
This is exactly the experience I was looking for, coming to the conference. I hope that the rest of the trip will keep contesting my scepticism, and help me to further improve my knowledge on the topic.
Written by Yury Dmitryuk.