It needs to develop and apply appropriate tools to carry out environmental investigation, environmental risk appraisal and environmental evaluation control. It needs to work with environmental experts to formulate appropriate policy and procedures. We need to consider how to adapt technologies and to sponsor innovation to accelerate the process of change to sustainable investment. It is clear that governments on their own are not capable of solving the world's environmental problems. As public concern over issues such as global warming increases, the financial sector will begin to respond by changing its investment patterns accordingly.
Proactive action is required on the part of the financial sector.
In any event there are significant business rewards for the front-runners. The financial sector will have to think carefully about its strategic approach to liability legislation. Although there is much opportunity for increasing the effectiveness of existing legislation, to oppose stricter liability regimes would be to oppose a key legislative tool for driving cleaner production. Activity No.1 Trade associations can play a significant role in the process of greening the financial institutional sector. Possible areas of activity include the sharing of good practice, nationally and internationally, representing the banking industry in preparatory work on legislation and regulation, and acting as a forum for the exchange of information and the sharing of good practice, nationally and internationally.