TECH TUESDAY: Focus on climate week
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Billed as “the greatest climate event on earth”, Climate Week NYC 2022 ran from September 19-25 – and financial services firms are increasingly supporting the cause.
Ralston Roberts, CEO of broker-dealer Instinet, said his company is channeling its technology expertise, innovation and drive to reduce carbon emissions and encourage other capital markets firms to get involved.
“We had the opportunity to bring positive transformation to the marketplace, and we’re excited to reapply that energy to sustainability,” Roberts said in an interview with Nasdaq TradeTalks.
Instinet began its sustainability campaign in 2020 with an assessment of its operational footprint; as Roberts explained, the company used the industry-wide importance of e-commerce as a starting point. “We focused on the growing demand for energy consumption and the footprint that was going to leave in the world, and we decided we had to do something to get ahead of that.”
That “something” was Instinet’s initiative to reduce its carbon footprint to zero by 2025. “The fastest way to get there was to leverage renewable energy sources to power our data centers. “, Roberts said. “We have had great success. Newport, our trading order management system, is nearly carbon neutral. »
Sponsors of Climate Week NYC 2022 include well-known companies such as Johnson & Johnson, Unilever, Google, Nike, PepsiCo and GM.
The Nasdaq is the partner in the Finance program, which focuses on economic opportunities to identify and mitigate climate risks. It provides a perspective to explore public and private financial sector initiatives and roadmaps to address climate change and discuss sustainable development.
As part of Climate Week, Instinet will dedicate its trading day on Wednesday, September 21 to the Wildlife Conservation Society and REDD Positive, a global forest conservation initiative. At 12:30 p.m. EST on Wednesday, they will host a Zoom webinar with WCS to share stories from field projects that have been funded by REDD Positive and talk about the program’s plans and accomplishments. Additionally, on Thursday, September 22, Instinet will host “Cocktails & Conservation” at the Central Park Zoo to celebrate REDD Positive.
More generally, why should the commercial industry focus on climate change?
“As leaders in financial services, we have a responsibility,” Roberts said. “As part of our efforts, we focus on understanding the impact from a business, environmental and social perspective. It is important for us and for others to assume a leadership role, to take action.
Originally published on Traders Magazine.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.