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Davos 2020: Refinitiv Establishes Alliance to Monitor Sustainable Finance

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by Jeff Fawkes · 3 min read
Davos 2020: Refinitiv Establishes Alliance to Monitor Sustainable Finance
David Craig. Photo: World Economic Forum / Flickr

Refinitiv CEO David Craig had pushed some insights at the World Economic Forum 2020 in Davos, opening a road to wider usage of investment analysis and data gathering.

As it has become known at the World Economic Forum (WEF) in Davos, the top organizations of the planet will join Refinitiv’s alliance to be able to research and edit the investment markets. Governments and corporations usually invest using the consensus of decisions of top officials. So basically, investment is a form of art. Now it is time to take a step into the future by turning data gathering into the science.

David Craig, Refinitiv CEO, noted:

“The need to channel capital towards the UN SDGs is urgent and the financing requirement immense. Today, many asset managers state that they don’t have enough data to help finance major transitions such as changes in demographics, climate change or addressing the shifts in global markets.”

The problem in the financial market is that the data is gathered chaotically. Companies often use the inside info for outperforming competitors and manipulating the prices. The market is somewhat similar to the cryptocurrency industry we know. There, a small circle of high-level investment sharks know beforehand where to put the money to make ’em grow.

Largest Ones Still Rule It All but Talents Receive Cash

The UN, OMFIF, GFMA, Tsinghua University, FinTech4Good, Institute of Public and Environmental Affairs and many other large institutions join the Alliance. Market analysts will have the chance to transform the way the global economy works. This could be one of those leadership-driven chances that the ill economy deserves despite all of its flaws and value delusions.

Tim Adams from the Institute of International Finance said:

“Currently the world is sitting on more than USD 300 trillion in global wealth, but there are obstacles to tapping this pool of capital—including a lack of high-quality, accessible, and actionable data. The Future of Sustainable Data Alliance is a critical step towards breaking down these barriers and scaling up funding for the Sustainable Development Goals.”

Because many of the banks still use outdated of flawed software, and the financial corporations waste billions on irrelevant projects, such a math-driven initiative could indeed bring some clarification into the world economy’s inner mechanism. The $300 trillion of wealth, however, is not the pile of money that can move quickly.

The owners of that cash, both in physical assets (such as metals or oil) and in virtual or cash assets, first need to agree to move their capitals. Would you invest in something called ‘Sustainable Development Goals’?

In times of extreme uncertainty, such a hardcore task can only be done by the talents. The ones of the highest level. It is very good that the international managers set themselves large goals. Many people will receive jobs in different analyst firms following the trend. It is extremely beneficial for their family members, which means – our readers.

Business News, News
Jeff Fawkes
Author Jeff Fawkes

Jeff Fawkes is a seasoned investment professional and a crypto analyst. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.

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