Professor Kwamie Dunbar served as a distinguished guest and resource person at the International Faculty Development Program hosted by SCOPE Vellore Institute of Technology "VIT" Chennai, addressing faculty, research scholars, and participants. This event, titled "Navigate the Blockchain: A Five-Day Journey," dedicated a special session to "Sustainable Finance," highlighting its pivotal role. In his address, Professor Dunbar shed light on the critical importance of integrating sustainability into financial decision-making processes. He elaborated on how sustainable finance is not just a trend but a necessary approach for advancing the United Nations' Sustainable Development Goals (SDGs) and adhering to the Paris Agreement's objectives.
Sustainable finance plays a crucial role in aligning financial systems and investments with environmentally friendly and socially responsible practices. It is instrumental in channeling capital towards projects and initiatives that not only offer economic returns but also contribute positively to society and the environment. This alignment is essential for achieving the SDGs, which encompass a broad range of objectives, including combating climate change, preserving biodiversity, ensuring access to clean water, and promoting sustainable industrialization.
Moreover, the emphasis on sustainable finance underscores its significance in fulfilling the commitments of the Paris Agreement. This international treaty aims to limit global warming to well below 2 degrees Celsius above pre-industrial levels, with efforts to restrict the temperature increase to 1.5 degrees Celsius. Achieving these ambitious targets requires substantial investments in renewable energy, energy efficiency, and other climate mitigation and adaptation measures. Sustainable finance provides the mechanisms and incentives for mobilizing the necessary resources.
Kwamie Dunbar, Ph.D.
Associate Professor of Finance
The Business School
Worcester Polytechnic Institute
50 Prescott Street suite 1319
T: 508.831.6779; E: kdunbar@wpi.edu