Climate scientists swap fieldwork for finance

Laura Garcia Velez poses for a photo in the Tigray region of Ethiopia in 2017, in this handout photo. Courtesy of Laura Garcia Velez/Handout via REUTERS

Some charities and campaigners argue, though, that “greenwashing” is rife in the finance industry. Many new recruits, they say, are used as a marketing tool and often lack the power to drive real change.The number of job ads for"sustainability" roles nearly doubled to more than 1,000 during the year to February, versus the previous 12 months, according to global finance recruitment specialist eFinancialCareers.

Charles Donovan, executive director of Imperial College London’s Centre for Climate Finance and Investment, which is jointly run by climate science hub the Grantham Institute, said there had been an “unbelievable” rise in interest in its students from finance sector employers in the past 18 months. “I can deploy the knowledge in a different way and working with different stakeholders is quite invigorating,” he said.For example quantitative analyst Velez, who moved to Lombard Odier last year, is building a tool that links assets to near real-time environmental and geospatial data tracking hurricane risk and pollution.

Euro zone banks will be expected to take climate change into account when making loans or investing, for instance. Funds in the EU will have to disclose how sustainable their products are, while UK lenders could face tougher capital requirements for polluting assets held on their books.

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