The growing prominence of green finance is often pointed to as a typical sign that we are reaching the height of a bull market – with the implication that the rush of
-focused activities was an ephemeral phenomenon in the waning months of the economic cycle. Yet if this were true, sustainable capital-market activity would have come to an abrupt halt in the first half of this year. Looking back over the past six months, this is clearly not the case. Instead, evidence suggests that the green evolution in finance has been resilient throughout the coronavirus crisis and represents a long-term, secular change.
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