As part of Commerzbank’s drive to raise awareness of the issues surrounding sustainable trade, Ruediger Geis, Head of Product Management, Trade Services and Issues at Commerzbank, writes for IFR on how banks have a key role to play. In his guest opinion, Geis explains that while banking practices will remain driven primarily by commercial considerations around risk and opportunity calculations, sustainability now has a growing weight in reaching these assessments with the increased risk of natural resource shortages threatening economic growth and business profitability. As such, a shift is taking place in the banking industry. While banks have been supporting sustainable initiatives for more than 20 years – by financing sustainable energy projects, for example – banking involvement in sustainable trade is now going further.
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