More than 650 players come together to advance the socio-ecological transition in Canada and around the world
Montréal, May 16, 2024 – The Sustainable Finance Summit, organized by Finance Montréal and presented by Mackenzie Investments, came to a close yesterday. This 4th edition featured two days of conferences, panels, roundtables and workshops, bringing together financial sector professionals, government representatives, civil society experts, academics and business leaders. Discussions focused on the transformation of global finance in response to climate challenges and environmental crises, featuring contributions from leading figures such as the Honorable Steven Guilbeault, Minister of Environment and Climate Change, Government of Canada; Valérie Plante, Mayor of Montréal; Emmanuel Faber, Chair of the International Sustainability Standards Board (ISSB), and Eric Usher, Head of UNEP Finance Initiative.
“This edition of the Summit was crucial in addressing the environmental challenges we collectively face, but above all in defining concrete actions to be taken. By placing sustainable development at the heart of finance, Montréal is helping to rewrite the pages of the world's financial ledger, and is assuming a leadership role in sustainable finance. The Summit is a perfect illustration of this transformation, making Montréal a distinctive financial centre in North America,” said Jacques Deforges, Executive Director of Finance Montréal.
“It’s incredible to see the energy created in Montréal surrounding sustainability, and how the city is establishing itself as the North American hub for sustainable finance. This was apparent in this year’s summit, which gathered exceptional global thought leaders in sustainability to discuss the transition from ambition to action,” added Fate Saghir, Senior Vice-President, Head of Sustainability at Mackenzie Investments.
Structuring announcements for committed finance
Two important announcements were made during the Summit:
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Investi Fund: Three managers were chosen for the Investi Fund to handle the fixed income securities portfolio, namely Addenda Capital, Beutel Goodman and Fiera Capital. This fund aims to foster sustainable and impact investment strategies, with a particular focus on economic development and strengthening sustainable finance in Quebec.
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Montréal Centre for Nature-based Solutions and Biodiversity Finance: Finance Montréal has announced its intention to launch a new centre of expertise dedicated to nature-based solutions and biodiversity finance. aiming to respond to the urgent call for action issued at COP15. The United Nations Environment Programme Finance Initiative (UNEP FI) will offer technical guidance to Finance Montréal on the launch of the Centre.
A stronger international presence
The 4th edition of the Sustainable Finance Summit also highlighted the importance of key international collaborations in building a greener, more inclusive economy, such as the international partnership between Fondaction and Triodos Investment Management to create a fund dedicated to biodiversity.
“Provoking and enabling positive economic transformation means bringing together and collaborating with organizations that share our vision and values to mobilize our strengths to multiply our impact. We want to pave the way for profound change in the economy and accelerate change in finance,” said Geneviève Morin, President and CEO of Fondaction.
At the close of the conference, Mayor Valérie Plante recalled Montréal's recent membership of the C40 Cities Accelerator, an initiative designed to encourage disengagement from fossil fuels and investment in a sustainable future. Addressing the financial community, she also reaffirmed Montréal's ambition to become a leader in sustainable finance in North America.
"In the face of the climate emergency, we can no longer discuss finance without addressing the environment. Guided by its ambitious Climate Plan, the City of Montréal is taking concrete actions to accelerate the ecological transition, and its efforts are being recognized. Montréal has thus become one of the leading global centers for sustainable finance, as evidenced by the arrival of the ISSB offices in the city and the success of the 4th Sustainable Finance Summit. Together, the city, its partners, and the entire Montréal economic ecosystem must profoundly transform our economy to meet the needs of people and respect the limits of our planet. The challenge is significant, but by continuing to demonstrate ambition, we can offer future generations a greener and more resilient world. I thank Finance Montréal, which plays a leading mobilizing role in accelerating a greener economy," said Valérie Plante, Mayor of Montréal.
The recent Sustainable Finance Summit solidly strengthened the position of Montréal and Québec in the sustainable finance sector. Positioned at the heart of global discussions, Montréal is ready to host future events that will shape financial practices towards a more sustainable and equitable integration. The metropolis thus confirms its role as a catalyst for change, with enthusiastic anticipation for the next edition in 2025, promising significant new advances.
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About the Sustainable Finance Summit 2024
The Sustainable Finance Summit is Québec's flagship event for sustainable finance, bringing together decision-makers, experts and opinion leaders in the sector. Returning for a 4th edition on May 14 and 15, 2024, the Summit's theme is “From ambition to action: transforming global finance”. It aims to highlight the tools for implementing change, linking economic development and environmental protection, and demonstrating how to make a concrete and equitable impact in the economy and the real world. To find out more about the Sustainable Finance Summit, visit: www.sommet-financedurable.com
About Finance Montréal
Established in 2010, Finance Montréal, the financial cluster of Quebec, is at the heart of the development and promotion of Quebec’s financial services industry and its positioning as a global business hub that is growing, competitive, attractive, and innovative. With its International Financial Center team, Finance Montréal works to attract foreign financial companies to Montreal. The organization also focuses on fintech and innovation, sustainable finance, and talent development. As a hub for the financial community, Finance Montréal mobilizes its stakeholders around these areas, including the community built around the Montréal FinTech Station that it administers. To learn more about Finance Montréal, visit financemontreal.com or its LinkedIn page.
