Since trade finance is lifeblood of global business, it has a positive role to play in driving sustainable practices. Here, banks can lead by example: through collaborative efforts, they can play a crucial role in encouraging a diverse network of counterparties to safeguard environmental, social and governance (ESG) principles, while also stimulating growth. So, how can “sustainable trade” be fully realized to meet these ends?
The Paris Agreement has been touted as the antidote to global warming; with countries agreeing to jointly reduce greenhouse-gas emissions, climate change will be dealt a severe blow. But the success of the treaty rests largely with individual nations and how successful they are in implementing policies for the short- and long-term.