THE year 2021 was a banner year for sustainable finance, with the creation of the Glasgow Financial Alliance for Net Zero (GFANZ) managing over US$140 trillion (RM590.65 trillion) in assets; sustainability bond issuance up to US$1 trillion (RM4.22 trillion) and record inflows of more than US$120bil (RM506.27bil) to environmental, social and governance (ESG) targetted funds.
There seems to be no shortage of funds today for ESG. Does this mean that the global transition to a low carbon economy is now on track? Yes and no.
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