The University of Wollongong’s Luminaries met to discuss sustainable finance as a part of their webinar series, which runs each fortnight.

Luminaries involve pioneering UOW researchers, experts and leaders who discuss global social, economic and environmental challenges. It is open to all and comes without a cost.

The panelists discussed emerging research to tackle climate change and promote sustainable development, with acknowledgement of the critical role finance plays.

Financial industry expert Jacki Johnson, who is also a UOW PhD candidate and the Illawarra-Shoalhaven City Commissioner, said that sustainable finance is “evolving very rapidly particularly over the last twelve months.”

“Sustainable finance is the finance that will support the transformation that will be required across the world and particularly around Australia,” she said.

The webinar aims to discuss why it is important for finance students and leaders to understand sustainable finance, and how it will help to grow our economic prosperity.

Panelist and Professor Millicent Chang, who is involved in the financial discipline of UOW’s School of Business, explored the significance of climate change on financial markets.

“Climate change has brought about financial risk to economies around the world and has really changed the way business operates.”

Financial markets require high quality and extensive information on the results of climate change, including the challenges presented to rising temperatures, environmental policy surrounding climate change, and emerging technologies in sustainable development.

The Financial Stability Board in London created the Task Force on Climate Change related Financial Disclosures (TCFD) and aims to increase and improve information around such climate related financial information.

The webinar explored information presented around the TCFD framework, and why it is important for finance students and professionals to build expertise in sustainable finance and how UOW is assisting to prepare the future workforce.

The public can register for future webinars through the Luminaries at the University of Wollongong.

Image source: Unsplash.