I know there is still considerable uncertainty about the potential returns on these investments. But I expect this uncertainty to diminish significantly as international disclosure standards make climate risk more transparent, and governments introduce clarity by setting targets, rules and deadlines.
This has the potential to transform green investment from a niche market into a major investment class of its own..  Let me give you an example of how public policy can kick-start a whole new market for green investment: early this year the Dutch housing ministry introduced new rules requiring all commercial real estate in the Netherlands to have an energy rating label of C or better as of 2023.