Interview of the month: Karen Hitschke from Building Bridges

For those who are not familiar with Building Bridges, what is it, and how did it come to be?

Building Bridges is two things. It is a unique community and global conference, both of which are built on the premise that we can drive finance to sustainability by connecting people from different worlds in collaboration.

The initiative started in 2019 as a small, local conference with a clear mission: to bring together a diverse group of stakeholders who don’t often engage in the same spaces. In Geneva, we have a unique mix of actors —on Rive Droite we have the United Nations, NGOs and academia; and on Rive Gauche we have the finance industry. By bringing them together, we’re creating one of the few places in the world where such a variety of voices can openly discuss how to align financial flows with the SDGs.  It’s about respecting each other’s roles and understanding that each sector holds a unique piece of the puzzle. Over the years, Building Bridges has grown into an annual conference, and this year marks our fifth edition with around 2,500 participants expected.

What’s especially exciting is that Building Bridges has evolved beyond being just a conference. We’re now also a foundation, which allows us to build on this community and work continuously throughout the year. Originally, we were hosted under Sustainable Finance Geneva but as the initiative globalizes, it’s important for Building Bridges to operate as an independent foundation to better support this ongoing work.

This year is the fifth edition of Building Bridges. What do you have planned for this milestone edition?

This year, we’re building on our strong foundations with a few new additions. We’ll still host the high-level Summit, but we’ve made a conscious effort to co-create the program by inviting stakeholders from all sectors to participate in shaping it. We looked at major conferences, like the Nature COP in Cali and the Climate COP in Baku amongst others, to identify what’s driving the community this year and selected themes accordingly. Inclusivity is at the heart of our Summit with speakers representing balanced diversity across sectors, regions, and gender.

For the Action Days, we received over 150 proposals from our community, which I think highlights the importance of crowdsourcing. It allows the community to bring forward the issues they think are important and allows us to showcase the innovation and collaboration happening in finance. 

This year we also have stronger links between the Summit and the Action Days.  Our 4 key Summit themes – impact investing across asset classes, nature finance, the social aspects of finance with a focus on just transition, and transition to net zero – will be part of a continuous conversation that will continue through the whole week.

An exciting novelty this year is our partnership with UNEP FI, one of our founding partners, which has included their bi-annual Global Roundtable under the same roof as Building Bridges. It’s an incredibly inclusive event that strengthens our international presence and enriches the local community by connecting us with global financial service leaders and asset owners. It underscores our role as a platform for bringing diverse players together.

You’ve now been the Director of the Building Bridges Foundation for almost six months. What have you found most notable about the initiative and community in that time?

I would say the commitment of the community has been the most striking thing for me.  The level of engagement from a diversity of players has been remarkable, it goes beyond the usual suspects. I’ve been in impact investing for over 15 years, and few initiatives have achieved such strong backing from the finance sector, which is part of why I joined Building Bridges. If we want to drive substantial change, we need the involvement of the big financial players. And there’s a spirit of openness here that is difficult to find generally.  Of course, we are not completely there yet and there is a lot of work to do, but I believe there is a real willingness to collaborate, to listen, and to understand the perspectives of others.

One of my goals is to leverage this openness to foster more progress between our conferences, with smaller, more focused workshops that keep up the momentum. We have a truly diverse community here, and I believe that by working together in smaller settings, bridging the time between our flagship events, we can make headway in mobilizing private capital toward sustainability.

What are your hopes for the next five years of Building Bridges?

Looking ahead, my hope is that we can keep this dual focus of being rooted in Geneva while also having a global impact. Building Bridges has this incredible nucleus of influence in Geneva and Switzerland, and I want to use that to drive meaningful change on issues that require widespread collaboration globally.

One of the biggest needs right now is to move large-scale private capital into developing markets. Sustainable development simply won’t happen if we can’t mobilize financing toward emerging economies. In addition, we need to find ways to transition “dirty” industries to being sustainable.  Much of sustainable finance is just rewarding those who already doing good, but we also need to think about the pathways for those who need to transition. 

Preaching to the converted won’t drive the large-scale change we need; Building Bridges aims to create a platform where different players, especially those who may be new to the conversation, can engage, gain credibility, and plot their journey for change. It’s about broadening the tent and moving beyond those who are already on board, so we can make global impact together.

My vision is for Building Bridges to become a go-to, neutral platform where all stakeholders feel safe to come together, leaving their individual interests at the door, to build real solutions. If we can do that, we will build credibility and create a space for genuinely impactful collaboration.

Where can people go if they want to learn more about Building Bridges or attend the 2024 edition?

To learn more about Building Bridges and participate in the 2024 edition, I encourage you to visit our official website and download our mobile app. There, you’ll find comprehensive information about our mission, upcoming events, and how to get involved. And this year, we’re offering something special—a free, public access plenary session on Tuesday, December 10th. This is open to everyone, so it’s a fantastic opportunity for those who are curious to come and experience Building Bridges first-hand. To stay updated on event details and registration, you can subscribe to our newsletter through our website. We look forward to welcoming you to Building Bridges 2024!