On Friday, Vaduz became the centre of the sustainable finance world for a day, as the Liechtenstein Bankers Association (LBV) and the Associations of Foreign Banks in Switzerland, Germany and the Netherlands hosted the conference “Accepting responsibility and investing sustainability – allocating capital and drive the change actively”. “We are closer to sustainable investment as the norm than some people think,” commented LBV CEO Simon Tribelhorn during his opening remarks.
In his speech, LGT Chief Financial Officer Olivier de Perregaux highlighted that sustainable investments are already very important for institutional investors. While there is less demand among private customers, he said, “we are seeing increasing interest in this field”. He continued to explain that sustainability in asset management and investment is still regarded negatively, in large part because it excludes some investment opportunities. Equally, there needs to be more awareness of the risks climate change poses to financial instruments – without losing sight of deploying financial instruments for private investors for the sustainable reorganisation of the economy. Higher CO2 prices would help, according to de Perregaux.
This sustainable reorganisation of the economy will cost the world between five and seven trillion dollars – an opportunity for global asset managers, according to Joukje Janssen of PwC Netherlands. Philip Brown of Citi Global Markets in Great Britain agreed, saying: “Those who want access to fortune must show they can invest it sustainably.”
According to Dominique Hasler, Minister of Home Affairs, Education and Environment, sustainability is a key issue for Liechtenstein. She underlined that the government was a founder of the LIFE Climate Foundation Liechtenstein alongside the LBV and the university. The foundation works to raise awareness of sustainability, and thanks to its partnership with the Swiss Climate Foundation, helps SMEs in the country receive financial support for sustainable products and energy efficiency measures. It also supports projects such as the Climate Ledger Initiative, which seeks to unite climate protection and blockchain technology.