Ministry of Economics, Energy,
Transport and Living for the State of Hesse

The Ministry of Economics, Energy, Transport and Living for the State of Hesse (HMWEVL) is responsible both for implementing the energy transition across the state and for the Frankfurt financial centre. It has therefore played an active role in setting up the Cluster.

The state government sees the energy transition “as a historic opportunity for the Frankfurt financial centre”, as stated in the coalition agreement concluded at the end of 2013. The two government partners have also pledged their support for the development towards green finance.

GSFC Sustainable Finance Status Quo & Innovation

After completion of the preparatory work, Minister of Economic Affairs Tarek Al-Wazir held a meeting with high-ranking representatives of the financial sector on the subject of green finance in March 2017. The establishment of a competence centre to promote sustainable finance in Frankfurt was agreed. After a working group had specified the fundamental strategy and structure of the centre, the Cluster was entered into the register of associations in November 2017. Dr Stephan Bredt, Director General Economic Sector, Financial Services, Exchanges, HMWEVW, was elected Chairman of the Management Board.

The Cluster is one of the priority measures of the Integrated Climate Protection Plan, State of Hessen 2025, which is the state government’s central instrument for climate protection and dealing with the consequences of climate change.

„In order to stop climate change – the effects of which have long since been noticeable – enormous investments are needed. This is why we are embracing the idea of private capital also being invested according to the principles of sustainability. The Cluster aims at further promoting this movement.“

Hessian Minister of Economy, Tarek Al-Wazir