
Romain Miginiac of Atlanticomnium and Stephanie Maier of GAM Investments
Despite their central role in causing the global financial crisis, exactly 13 years ago this week, banks remain at the centre of the European economy.
They finance more than 90% of European small and medium-sized enterprises (SMEs) and approximately 80% of European corporates. That means they also have a central role to play in today's biggest crisis: the climate challenge. It is not just their direct financing activities - in the energy sector alone the top 35 banks provided close to $3trn of funding in three years to 2019. But banks also have a critical multiplier effect on the rest of economy through their engagement with existing clients. Engagement between bankers and clients tends to be longstanding and forward-looking and ...
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