Financial Services' Contribution to Climate Change

It is indirect, the industry representatives used to say. Then the stories went to the difficulty to provide climate change- or sustainability-oriented mutual fund products as they underperform the main indexes. Finally, we have this payments related e-invoicing story which is to the point and of high importance!

But to really understand how Financial services can directly contribute into the fight against climate change, just consider paper. Banking and insurance is about everything on black and white. We know how paper is made. So get rid of paper. Principle is simple as that, implementation is not.

There is increasingly evidence about smart printing practices etc. However the story starts from banking processes. Paperless banking processes. And go even further; do paperless banking processes with Green IT. That means optimize your technical infrastructure from climate change perspective with energy efficient solutions.

Yes right, and who will pay that massive investment? And who will educate clients and personnel?  Not me or my bank. Well, we have the opportunity to reward those financial institutions who carry the responsibility and take action. Climate change is the strongest business driver ever seen. Its other name is survival. And paper is the no-brainer to start with today.