Daily Management Review

European capitals to compete for 'green crown'


According to Jamie Dimon, CEO of the US investment bank JPMorgan Chase, quoted by CNBC, leading European towns, particularly Paris and London, would be contending for the title of environmental leader and a kind of "green crown" in the near future.

The banker believes that Paris and London are vying for supremacy in the sphere of financial and investment products that take social, environmental, and governance considerations into account (all together they form the popular ESG concept).

By 2025, the overall market value of such instruments - largely green bonds - is expected to reach $53 trillion, according to some estimates.

Other economists questioned by the magazine believe that leadership in the green debt market could be a way for London, as well as the UK as a whole, to minimize losses from Brexit (after which many financial companies moved their headquarters and branches to continental Europe).

source: cnbc.com