From my time working in both the Agricultural and Environmental Conservation sectors, two key issues were continually pulling on the reins of progress.
The first being the substantial disconnect between the funding requirements for environmental projects (namely, long-term, predictable cash-flows) and the nature of the majority of funding available for such work (being unpredictable, lump-sum grants and donations from Government and charitable enterprises).
Second was the, perhaps unsurprising, divide (in skillsets, lexicon and priorities) between those seeking to develop and launch green finance products and those on the ground managing the underlying projects.
These issues are being narrowed at a fantastic rate by the raft of innovative green projects making their way through the development phases and those examples that have come to market (including Credit Suisse's Nature Notes and the Conservation Fund's Green Bonds). New legislation adopted by the European Parliament this month will assist further with this marrying of different worlds and aims to create a universal taxonomy for sustainable economic activities.
Walkers is well equipped to assist with the structuring and listing requirements for green finance deals, and our Cayman Islands, Ireland and Channel Island offices are seeing a considerable uptick in this sector.
Parliament has adopted new legislation on sustainable investments. It lays down six environmental objectives and allows economic activity to be labelled as environmentally sustainable if it contributes to at least one of the objectives without significantly harming any of the others.