UNEP FI´s Global Roundtable 2007 will be held in Melbourne. But why is the biggest and most significant sustainable finance event of the year happening in Australia? And why is it worth getting involved, even though it may entail a lengthy journey?
The Melbourne Files are a compilation of relevant viewpoints of diverse stakeholders, all thought leaders and avant-gardists in the arena of sustainable finance, however, with diverging backgrounds and stemming from different regions of the world. From their very professional and regional perspective they will hereby give answers to the above questions.
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Li Renjie
President of Industrial Bank
 Banking
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Globalization not only brings the rapid economic growth and the transnational flow of culture, information and materials, but also makes us confront the challenges of environmental protection and sustainable development. The emergence of sustainable finance has provided a great opportunity for banks to adopt their management and business operation. Through the provision of professional and responsible financial products and services, banks can safeguard the environment, for instance in terms of saving energy and reducing emission, and improve the social welfare. While making contribution to the social harmony and sustainable development, the banks could still be able to capture the enormous profit-making opportunities.
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Sustainable finance is the ethical restraints voluntarily assumed by banks in the context of economic globalization, and also a strong commitment by banks to carry on its corporate citizenship and to support sustainable finance. As a leading Chinese financial institution, Industrial Bank will take into account of social and environmental risks while making decisions on significant investments or loans, restricting loans to projects with overcapacity, high energy-consumption and heavy pollution problems, and improving the quality of asset portfolio. Meanwhile, we will seize the opportunities in the field of sustainability to develop innovative financial products and services that are social and environmental friendly, such as financing renewables, energy efficiency, cleantech, biodiversity, and microfinance, so as to support the sustainable development of the Chinese economy, society and environment.
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Looking over the long term, I believe that "Green Finance" is not only green to the environment, but also can green to the corporate balance sheets. Though UNEP FI and other international platforms, Industrial Bank is determined to embark on this sustainable finance journey with the global financial community.
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Martin Hancock
Chief Operating Officer, Westpac Inc.
Chairman of UNEP FI
 Banking
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| There is increasing evidence that the environment will no longer be able to support the "business as usual" scenario. Awareness has been raised: the key issue is "what can we do about it?" As key intermediaries in the economy, the finance sector stands in a unique position to play an important role in promoting sustainability. The depth and breadth of its operations and influence are significant. It is the sector that "finances the future".
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| On October 24/25 in Melbourne, many of the 170 financial institutions that now make up UNEP FI, along with other professionals from business, civil society and public bodies, will be working together to assess and discuss the risks, opportunities, and tangible responses to a wide rang of environmental and social issues.
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| The Roundtable will also have key focus on Asia Pacific which represents the fastest growing membership area for UNEP FI, and where some 28% of current membership resides. This is one of the key reasons for holding the Roundtable in this region. Whilst Melbourne will be a long way for many participants, we believe the journey will be well worth while. It is here that you will hear the latest developments at UNEP FI to promote sustainability, not only through financial institution’s own direct environmental and social footprint, but also how they can make a significant difference through initiatives on their indirect footprints.
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| There is little doubt that time is now running out in terms of addressing the challenges and responses required to achieve a sustainable future. The finance sector has been working on these issues since UNEP FI was formed by six financial institutions ahead of the Rio Summit in 1992. Some 15 years later the task is now even greater and urgent. UNEP FI through its member institutions is providing leadership across the sector. The Roundtable in Melbourne will be an opportunity to assess how far we have come, what we are currently doing, and just as importantly, what we need to do in the future.
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| As many of you will have heard me say before, sustainability is not a spectator activity and at UNEP FI we pride ourselves on stakeholder involvement and engagement in all our workstreams and projects. Please join us in Melbourne and contribute your own experience and expertise to this unique event and help move the sustainability agenda forward.
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Justin Smith
Head: Governance and Sustainability, Nedbank Group
Co-chair UNEP FI African Task Force
 Banking
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| Sustainability issues, particularly those around climate change, energy and environmental responsibility have become a part of mainstream corporate debate over the last year in South Africa, with the media, investors and stakeholders also paying growing attention. Issues such as the protection of human rights, access to water and biodiversity are also crucial in the African context.
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| As a company, we have seen the integration of sustainability become a differentiator for us in our engagement with retail and corporate clients, staff, multilateral development institutions and investors. The collaboration with other regional and global financial institutions via UNEP FI has played a significant role in developing our strategies and policies.
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| The Agenda at this year’s meeting promises to meet the challenge of "Awareness to Action" and create new chances to work with the rapidly developing finance sector in Asia-Pacific in promoting responsible investment and responding to the challenges posed by climate change.
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| The Melbourne roundtable is a unique opportunity to engage with, and learn from counterparts from across the globe, and I would strongly encourage everyone with an interest in Sustainable Finance to make the trip to Melbourne! |
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Julie Fox Gorte
Senior Vice President for Sustainable Finance,
Pax World Management Corp.
 Asset Management
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| In the end, all finance will be sustainable. The only question is whether we arrive at it through necessity, having exploited the earth’s resources to the point where no other choices are left, or by enlightenment.
UNEP FI has been one of the brightest stars helping us steer a course toward sustainable finance. |
| My experience is with the Asset Management Working Group, which has produced a long list of winners: two groundbreaking reports on the materiality of ESG factors, which have helped to catalyze an explosion of financial analysis incorporating ESG; a formidable treatise on the legal framework for incorporation of ESG factors in finance; an examination of how leading pension funds pursue responsible investment, and more. There are at least two major studies in the AMWG pipeline. |
| The key to UNEP’s leadership is timing. By now, interest in sustainable finance may have reached its inflection point, with the ranks of believers swelling across the spectrum of finance. But that was not always so. As little as two years ago, sustainable finance and responsible investment were ignored or dismissed. It took foresight and courage to light the path to sustainable finance. The leadership of UNEP FI was crucial to the popularity the topic is now enjoying. |
| When Alice asked the Cheshire Cat which route was best, the Cat countered that the answer depended on where she wished to go. “I don’t much care where,” replied Alice. “Then it doesn’t matter which way you walk,” replied the Cat. Well, I think we do know where we want to go. We want sustainability, where all of us can enjoy security, freedom, and comfort without compromising the ability of future generations to do the same. But that is by no means assured. We have surpassed the carrying capacity of many of the earth’s systems—a quarter of the world’s stock of wild marine fish is overexploited or significantly depleted; water scarcity is an increasing problem for 1-2 billion people; rainforests are disappearing at the rate of 78 million acres per year.. We are nearing the point of incurring unimaginable damage to the climate. In 1986, we zoomed past the threshold of the Earth’s sustainable production of resources, and we are now drawing down that capital. |
| It very much matters which way we go—and UNEP FI has proven to be a brilliant guide. |
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Robert Tacon
Head of Risk Reporting, Standard Chartered
 Banking
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| Human Rights, Climate Change, Water, Reporting Standards, these are but a few of the very important areas that the members of UNEPFI are tackling at this very moment. These issues affect financial institutions in all parts of the world and it is essential that they are debated at such a major global forum. |
| “Awareness to Action” is a very apt title for this year’s UNEPFI Global Round Table. The time for debate is rapidly running out – it is now essential that the Action begins. By moving the Global Roundtable to Melbourne this year, we are ensuring that a very important segment of the finance community in Asia is given the opportunity to highlight the very real progress that is being made by the finance community in this part of the world. |
| Many financial institutions are now recognising the importance of these issues to their own business and the Round Table is an exciting venue to meet with like minded professions who have already started the journey or who are looking to learn from their peers. The Agenda at this year’s meeting promises to meet the challenge of “Awareness to Action”. |
| I am very proud to be associated with the Initiative and believe that those who make the journey to the Melbourne Round Table will look back in the years ahead and say: “I was there!”. |
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Terry A’Hearn
Director of Sustainable Development,
Environmental Protection Authority (EPA) Victoria
Government
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| EPA Victoria has been involved with the UNEP Finance Initiative for quite a few years now. Since 2000 actually, and in that time, we’ve been part of an exciting movement towards a more sustainable financial sector and broader community. Australasia now has nine UNEP FI signatories who we bring together on a regular basis so they can share stories, discuss challenges and work on solutions together to some of the issues that they are all facing. For example, our signatories have recently collaborated to help develop the climate change e-learning tool for the sector. |
| The upcoming Roundtable represents a landmark opportunity to showcase signatories’ innovative responses to environmental challenges, particularly in a country increasingly affected by drought and climate change. Roundtable delegates will have the opportunity to participate in the sustainability discussion and hear first hand about best practice initiatives being implemented by both Australian and overseas financial institutions. They will see that economic, social and environmental benefits are interlocked and inseparable. |
| EPA is excited about sharing its vision of the Victorian community living sustainably by hosting a Roundtable that will be carbon neutral and we commit to reducing the event’s Ecological Footprint as much as possible.
I’m really looking forward to catching up with old friends I’ve made since EPA hosted the first Australian sustainable finance conference in 2000. And I’m just as excited about meeting new ones at the Roundtable. I’ve also been to the Roundtables held in Cambridge and New York and know how valuable they are as a networking and learning opportunity. |
| We look forward to hosting this international forum and showcasing Australia and our financial industry’s sustainability initiatives at this prestigious global event. |
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