Developing Green Finance sector a ‘priority’ for Ireland – Minister
Brexit should be considered an opportunity for Ireland to establish itself as a leading hub for Green Finance in partnership with Britain, Mr. Michael D’Arcy TD, Minister for Financial Services, has said.
Speaking that a Green Finance dinner at the Irish embassy in London last night Minister D’Arcy said that increased cross-border collaboration can cement Ireland’s attractiveness as a leader in the Green Finance area.
The event, organised by Sustainable Nation, showcased Ireland’s expertise in the area and explored ways to further strengthen relationships with the UK.
Sustainable Nation, a not-for-profit agency set up by the Government to promote Ireland as a hub for sustainable investment and business, works with both the public and private sectors to stimulate greater investment into smart innovations, new enterprises and sustainable business practices.
“The 2017 Action Plan for International Financial Services 2020 published in January 2017 gives Sustainable Nation a key role in focusing on the promotion and positioning of Ireland as an international hub for Green Finance,” the Minister said.
Sustainable Nation Ireland CEO Stephen Nolan, said Ireland’s reputation and track record for green finance in the UK was impressive with names such as Blackrock Renewable Power, NTR, Brookfield Renewable, Amarenco Solar and Greencoat Renewables all providing solid investment returns.
“Today we have €28bn of green finance activity already and a thriving cluster of activity covering asset management, domiciling and the listing of green bonds,” Mr Nolan said.
Mr Nolan went on to say that over €100bn would be needed over the next two decades to decarbonise the Irish and UK economies alone, “that’s the scale of the opportunity that green finance is scaling to meet,” he said.
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