How can we make climate finance better?

It costs time and money to develop and scale up much-needed disruptive ideas – how can we do it smarter? Tony Ofori, Director, Sustainable Finance Group at Bank of America, believes it is important to invest in green start-ups in our mission to Net Zero. At the Regional Final Europe, he explained why and gave unmissable advice on how businesses can play a key role in the climate transition.

Why does a bank support a program like ClimateLaunchpad? “As widely recognised: climate change is one of the biggest challenges facing the world today,” says Tony Ofori. “We are very aware of the pressing importance of supporting socially responsive initiatives. We are in a time where the transition to new solutions is crucial, if we are to build a better future for all.”

“It is inspiring and heartening to hear the ground-breaking pitches and see the innovative companies that are here, in the ClimateLaunchpad competition. These ideas have the potential to pave the way to a sustainable future change the world. We recognise that they can’t do it alone. They need support and resources to become grow and develop. That’s why we at Bank of America have partnered with Climate-KIC, we work to offer guidance and support. Ultimately, we want to collaborate and work make the transition towards sustainable economy a reality.”

Three takeaways from Tony Ofori:

1. Collaboration is key – ClimateLaunchpad is step in the right direction

“I see collaboration as a fundamental piece of the puzzle when we look at an idea being realised and evolving into meaningful action. ClimateLaunchpad provides an excellent incubator for ideas, opportunity to gain meaningful expert feedback and a space where collaboration and partnerships develop, and ideas are brought to life.”

2. You can compromise and still stay true to your vision

“Historically, it’s been said that a lot of ESG start-ups grapple with the funding side of their plans, due to rigid visions and lack of willingness to compromise. One piece of advice I have is: always have your north star in sight, but be open to the need to adapt plans and be flexible. You want to do meaningful work, stay true to your idea, while at the same time you have to be financially viable. These should never be mutually exclusive, you can stay true to what investors want and what you want, there is always a way.”

3. Ambition is your friend – be kind to yourself

“Being an entrepreneur is arguably one of the hardest, but rewarding roles you can have. You have to be the idea generator, visionary, salesperson, fundraiser, problem solver, etc. It is a lot and sometimes you may really question it. Remember, it is a journey. Weather the storms and look to the long term. Hopefully you’ll find it a rewarding journey!”

Photo by micheile dot com on Unsplash

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