Barclays and Standard Chartered Plan Bankers' Return to COP28 Climate Summit
Barclays, Citigroup, and Standard Chartered are among the banks preparing to send larger delegations to the upcoming COP28 climate conference in Dubai. The decision to hold the conference in Dubai, a major financial center, is expected to attract a significant presence from top bankers and investors. Barclays CEO C.S. Venkatakrishnan, who skipped the previous conference, plans to attend this year and host client events focused on increasing the flow of money to climate technologies and carbon-saving projects. The banks anticipate a receptive audience in the Middle East, where sustainable finance activity has been on the rise. The return of bankers to COP28 presents an opportunity to highlight efforts to finance a quicker transition to green energy and gain public goodwill. However, questions remain about the level of commitment and financial backing the finance industry will truly provide to support the green transition. The conference aims to make progress on government policies, private climate investment in emerging markets, and emissions reduction in challenging sectors.
Impact of Bankers' Return to COP28 on New Businesses
The return of major banks to the COP28 climate conference could have significant implications for new businesses, particularly those in the green technology and carbon-saving sectors.
With Barclays, Citigroup, and Standard Chartered planning to send larger delegations, new businesses could see an influx of investment opportunities. Barclays CEO C.S. Venkatakrishnan's plan to host events focused on increasing the flow of money to climate technologies and carbon-saving projects could provide a significant boost for startups in these sectors.
Public Goodwill and Sustainable Finance
The banks' return to COP28 also presents an opportunity for new businesses to gain public goodwill by aligning themselves with the green transition. With sustainable finance activity on the rise in the Middle East, businesses that position themselves at the forefront of this movement could benefit from increased investor interest and public support.
Commitment to Green Transition
However, questions remain about the level of commitment the finance industry will truly provide to support the green transition. New businesses will need to navigate this uncertainty and ensure they have robust strategies in place to secure the necessary financial backing. The COP28 conference will be a key event to watch for insights into the future direction of climate finance.