Dr. Christian Dahlheim

Many thanks to all our valued #clients which have participated in the respective survey and your trust in KfW IPEX-Bank as a leading #exportfinance bank. We are looking forward to supporting you in even more of your projects and to promoting #European exports simultaneously #mobility

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(Resharing this interesting global Carbon Emissions historical data animation.) Nestled between two of the world’s largest CO2 producing countries, Nepal faces unique climate risks and the country's vulnerability necessitates immediate action. Though the broader impact is from global phenomenon; coupled are regional environmental challenges as air pollution and changes in monsoon patterns that can exacerbate climate risks like flooding, landslides, and droughts. Additionally, the Himalayan region, shared with China, is particularly sensitive to climate change with rising temperatures affecting glacial melt and water availability. Thus, it’s crucial for Nepal to consider all three - local, regional and global factors. As prioritized solutions: a) Adaptive strategies needs to be 'urgent country level agenda' with serious commitments to significantly reduce our exposure to climate perils. b) Responsible stakeholders unite in a robust push to garner global support for mitigation efforts through 'Climate Funds, Loss and Damage Funds' and other avenues. (This video looks informative too: https://lnkd.in/ds-ZaiDR)

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I rarely get pissed off, but today they did it. Early morning today I received a physical letter from comdirect – eine Marke der Commerzbank AG - the bank I've been using as my primary bank account since 2017 for receiving salary, proceeds from self-employment activity, I also used their brokerage product and overall didn't consider switching. The letter says they're closing my account in 2 months from now. The reason is they just excercise their right under A.I.19.1 of their T&Cs. Went to read T&Cs and that paragraph simply says they can terminate from their side unconditionally just notifying 2 months in advance which they did. (Good job Comdirect's legal team). I noticed it wasn't just me, there are other people posting similar terminations on various forums. I've also noticed they run paid campaigns to attract more customers to the bank - not surprised - many banks fight for more customers. While I know that generally salaried customers (which I'm) is something any retail bank goes after, as well as those who keep deposits on current or savings accounts (Which I do), I don't understand why would they get rid of me and many other customers other than either they discriminate based on the citizenship status (some people mention they were told by customer support that was the reason in their case) or pure stupidity of some of the folks at the bank. Given that the bank didn't give me the explicit reason for termination other than the reference to that paragraph which says they can say "get out" as they please, I'd like to excercise my right and say "Thank you comdirect – eine Marke der Commerzbank AG" in return by sending a letter to BaFin with a complaint. Apparently I'll have a bunch of a headache notifying Finanzamt, the employer, internet, cell-phone provider etc. Hopefully the account switching service of a new bank will help with some direct debits. Hope you have fun guys!

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The Financial Times this week had 2 somewhat related articles of interest - 1) European carmakers uneasy on EU car emission rules https://lnkd.in/eQ9P_u8e and 2) the landing and safe catch of the booster launched by Elon Musk's Space X. https://lnkd.in/e6hCsU_D How are these related ? To achieve something extraordinary, we need to have ambitious goals - what Musk has achieved previously with Tesla and now with Space X is nothing short of extraordinary. Diluting goals is kicking the can down the road - which the world can ill afford - to understand why, we only need to look at the nature related disasters that are hitting all parts of the world with increasing frequency - what we today do today will have an impact 50 years later. The good news is that the EU is sticking with its plans for curbs on ICE in the EU from 2035 - policy and regulations alongside personal lifestyle choices, will keep us on track to limit global warming to 1.5 degrees celsius before it’s too late, not just for future generations.

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How can consulting for real economy—spanning banks, insurance companies, and the financial sector—be expanded into digitalization solutions and industry dialogues? 🏦   Why X1F has acquired the Austrian corporate finance and treasury consultancy Schwabe, Ley & Greiner (SLG), how extensive technological know-how opens a broad and deep field of joint action, and what sort of joint opportunities the CEOs Thomas Steiner, FRM (X1F) and Philip Tüttö (SLG) predict for their business. 𝗧𝗵𝗲𝘀𝗲 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗸𝗲𝘆 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝘁𝗵𝗲 𝗲𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲𝘀 𝗮𝗱𝗱𝗿𝗲𝘀𝘀𝗲𝗱 𝗶𝗻 𝗮 𝗿𝗲𝗰𝗲𝗻𝘁 𝗶𝗻𝘁𝗲𝗿𝘃𝗶𝗲𝘄 𝘄𝗶𝘁𝗵 𝗧𝗿𝗲𝗮𝘀𝘂𝗿𝘆𝗟𝗼𝗴. To read the full interview ➡️ https://lnkd.in/en9Ub96

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German think Tank Agora Energiewende published the results of their study “Direct electrification of industrial process heat” today in a highly recommended report (https://lnkd.in/eaPUUBPm). One of their conclusions: “Direct electrification technologies expected to be available by 2035 could meet 90 percent of the energy demand not yet electrified by European industry.” The figure below shows that most of the energy related to industrial heat goes into temperatures above 500 deg C (pink color). This confirms my gut feeling and the reason I recently invested in German startup HyperHeat, which develops an industrial resistance heating element that goes to 2000 deg C without significant degradation. The other reason to invest was the excellent founders, Lars Amsbeck and Frederick Lessmann, who have decades of experience in industrial heat and high temperature engineering, having built high performance engineering teams and conducted hardware Go-to-Market projects with industry leaders before.

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Thank you for the lively conversation Laurie McAughtry and the opportunity to share my views on the status of digitisation of the Capital Markets Industry. I think the industry has not found their new operating model for digital markets yet. Compared to decades ago, where the masterplan for FMIs and market participants to take markets electronic was clear with CLOBs, IT based solutions for Clearing and Risk Management , automated settlement and custody the new equilibrium including new tech stacks like DLT, AI, event driven Archtectures etc. is not 100% defined. Not embarking on this journey in my view is not an option and everyone building own imfrastructures will lead to the next level of market fragmention. We are working on a solution! 😉 Clearstream - leader in digital securities services!

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Bavarian Finance Summit Recap: It was great to attend the Bavarian Finance Summit of Süddeutsche Zeitung! A well-organised event where you can exchange ideas with industry leaders and discuss the direction of finance and innovation. This time directly at the Deutsche Bundesbank branch in Munich. Together with Herbert Fromme (Süddeutsche Zeitung) und Maximilian Klinke (Pigtie) we had a fantastic panel discussion. 📌 In our discussion, we talked about the challenges and successes of founding a fintech company in Germany. 🎤 Our appeal to the Bavarian financial sector in particular: "Dare to invest more in new technologies and companies in order to further strengthen Germany as an innovation ecosystem." Also thanks to Christian Gnam, InsurTech Hub Munich, Dr. Sebastian Bonnemeier, Iris zu Löwenstein, Stephan Radomsky, Robert Schindler, Robert Ertl and many more! Photo: © Süddeutscher Verlag Veranstaltungen GmbH. All rights reserved. #Summit #Innovation #Startups #Bavaria #FinTech

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Are you interested in financing instruments for mitigation finance? Save the date September 9th and register for our Expert Forum Adaptation and Mitigation Finance at ESMT Berlin. As part of the case study session, Thomas G. Engelmann, CFA, CAIA, CFA, CAIA will present the PtX Development Fund's approach to mitigation finance. Our conference brings together leading international climate finance scholars, policy stakeholders, investors, development finance institutions, and foundations. 📍 There will be another case study focused on adaptation finance presented by Esther Badiola Guerra from EIB The Expert Forum also includes panel discussions on: 📍 Aligning the interests of the public and private sectors to mobilize climate finance 📍 Challenging the status quo: Adaptation and mitigation finance today 📍 Effective levers to mobilize climate finance 📍 Concessional finance as an enabler for mitigation & adaptation finance 👉 You can register, and find all confirmed speakers as well as suggested literature on the event website: https://lnkd.in/gFpECUhA 👉 You can find a detailed overview of the agenda here: https://lnkd.in/gMgsNHbE #climatefinance #adaptation #mitigation #sustainability

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The Wolfsberg Group published its "Statement on Effective Monitoring for Suspicious Activity" today. An extremely exciting publication in my view, which should certainly lead to a rethink in the handling of transaction analysis as well as in the expectations of supervisory authorities. Two Key Takeaways: "The Group does not believe that the value being derived from the (constantly increasing) volume of SARs/STRs is contributing proportionately to effective outcomes in the fight against financial crime. [...]" ⚖ While many regulators follow an approach of "the more, the better" (when it comes to SARs/STRs), it shows that a constant increase in reports does not contribute to making the fight against financial crime more efficient. Authorities get bogged down in SARs/STRs which were only reported because a transaction might have exceeded a threshold in the system or had a certain exposure that did not raise concerns at the moment but could turn out to be a problem in two or three years ex post under a change in the current conditions. A financial institution is more or less encouraged to report such transactions without being able to take a risk based decision because it might face severe penalties if a decision proves to be wrong at a later point in time (wrong incentive to report 📊 ). At the same time, authorities do not have sufficient ressources and risk based systems to analyse all SARs/STRs handed in effectively and therefore the fight against financial crime becomes ineffective due to a different type of "fear of missing out". ⚡ "To make effectiveness in MSA a more tangible concept, [...] resulting in both a move away from prescriptive rules-based risk management routines and towards higher-value, quality outputs, thereby enhancing the fight against financial crime." Rule-based systems are outdated. 👴 👵 Criminals these days are using sophisticated technics and technologies to engage in their business. If we think that rigid thresholds, rule based decisions, non-dynamic models, etc. are an efficient way in identifying suspicious behaviour, the future does not look bright. 🙈 We as financial institutions will rarely stay ahead but if we don't want to fall far behind the criminals, we need to have an environment that enables us to grow our concepts of identifying suspicious behaviour and transactions by using dynamic systems combining various factors of information. This not only requires a re-thinking in many compliance and IT departments when it comes to the implementation of appropriate tools and methodologies but also from regulators. A move towards a more qualitative instead of solely quantitative approaches will benefit all parties involved in the fight against financial crime. Let us have the courage to be courageous! Full paper: https://lnkd.in/eCp2AU99 #compliance #wolfsberggroup #fatf #aml #kyc

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Does anyone know how many kgs of #CO2 emissions can be eliminated by recycling 1 ton of concrete? Come and find out at our booth at X-Creation #InnovationDay Deutsche Börse Christina Sell Gerog Schattney Wolfgang Stegmaier Lisa Lang Yvonne Zwick EcoVadis D-A-CH Madaster New European Bauhaus Charta digitale Vernetzung

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Of course the sad state of Volkswagen and German car industry has a variety causes. But nobody could say it was not coming. Germany and the EU are late in investing in green mobility technologies and projects. These need not be cars as consumer product only. A more creative thinking about mass green transport throughout the EU was and is still needed. The EU succeeded in collectively creating Airbus as a major competitor to Boeing. What lessons can be learned from the Airbus example in investing in a green land transport in the EU? Nationalist industrial policies will not work.

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Germany is making significant strides in establishing a nationwide network to connect key hydrogen production and offtake clusters with import and storage facilities across the country. The network is expected to be privately financed, with the federal government pledging guarantees to partially de-risk construction. Significant progress has also been made in designing a new regulatory framework, which will determine the earnings of transmission system operators in the coming years. It aims to balance the costs and revenues over a transitional period until 2055. However, we think significant risks related to the development of the hydrogen market remain, including unresolved regulatory uncertainties and the potential for delays or cancellations of hydrogen projects. Read the full report to learn more 👉https://lnkd.in/eCCTMRAC RaboResearch #weeklyhighlight #EnergyTransition #hydrogen #infrastructure #policies #greenhydrogen #REDIII

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Today I joined the panel moderated by Thorsten K. G. Müller at the CESG Conference 2024 on Viena at the Oesterreichische Nationalbank building, together with Daniela Carosio Casieri . The panel adressed Corporate Challenges for SME companies under CDRD namely bureocracy in data collection to comply with scope 3 reporting. My central take was : "Unitended consequences from well intended policies and Regulation may harm the European economy at its backbone as LSME are overburdened by data collection that enconpasses large and disproportionate human and Financial costs. There could be more corporate failures than benefits from CSRD full scope3 implementatiom among these smaller companies" EFFAS - The European Federation of Financial Analysts Societies APAF - Associação Portuguesa de Analistas Financeiros CMVM - Comissão do Mercado de Valores Mobiliários Banco de Portugal CGD João Cotrim de Figueiredo Bernard Delbecque Tanguy van de WERVE Carlos Guimarães Pinto Nuno Martins Miguel Ferreira Luís Magalhães

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Trump and Renewables... contradiction or common ground ❓ 👉 what risks are involved? 👉 what opportunities could arise? 👉 read here the view of Erste Asset Management GmbH expert Alexander Weiss on this matter! #ErsteAssetManagement #ResponsibleInvesting #InversiónSostenible #ESG

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Some thoughts, four days into #COP29. This COP has been billed as a ‘small COP’ and one that people could skip: a reluctant host (last country left standing in the Eastern Europe group once all the others had been ruled out by geopolitics) that is, of course, another petrostate, and not a critical year in the five-year rhythm set by the Paris agreement. But so far it doesn’t feel like that on the ground. First, the Azerbaijani logistics have been great. Frequent shuttles around the city on 16+ routes, no queues to get in, lots (and lots) of friendly and helpful volunteers both in the venue and the city, plenty of food and coffee. While those may seem like small things to praise, these things have not been true in most of the last few years and I can’t help but think that we should get better outcomes when most of the delegates aren’t either hungry or nursing some degree of food poisoning (or both). Secondly there are a lot of people here – the pavilion area has been completely packed every day, and there seem to be new players in the mix and talking about climate (I’m fairly sure I haven’t seen Kyrgystan before – its yurt is a highlight). It doesn’t feel like there’s less energy and enthusiasm. Of course there are some big players not here at the negotiations – the US, EU, China, India, Indonesia, and a few others, did not send their Heads of State. Argentina had a delegation but was called back by President Milei, who decided to head off and see President Trump instead. But given that they left before finance day, when decisions are being made about where trillions of dollars will be spent… seems a bit of an own goal. But where national leaders did not show up, the subnational ones did. This morning, we brought together many of our Under2Coalition governments, including Governor Jay Inslee, Giorgio Maione (Minister of Environment and Climate, Lombardy) and Gillian Martin (Cabinet Secretary for Net Zero and Energy, Scottish Government), for our General Assembly. And late last night, Wade Crowfoot, Secretary of Natural Resources for California, was invited to make an intervention on behalf of the local government constituency in the COP Plenary. It really shows the strength of what we’re doing with the #Under2Coalition, the largest global network of subnational governments which now counts 183 states, regions and provinces, committed to Net Zero. Where the national governments of the US and Argentina are stepping back, their states are stepping up and leading on climate action, discussing the specifics and how they’re going to implement ambitious plans. Finally the other takeaway from COP, as it so often is, is a reminder that there are a lot of excellent people working – very hard – on tackling the climate crisis. The energy and drive that everyone I speak to here is bringing is enough to give me hope, in a week when so many are trying to take it away. Climate Group, #climategrouplife, #cop29, #Under2Coalition

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🇩🇪 #Germany: Addressing Future Needs Germany is projected to have one of the lowest public investment ratios among #EU countries by 2025. To meet its future investment requirements, the nation may need an additional €800 billion annually. This investment is crucial for infrastructure, digitalization, and the green transition. However, strict fiscal policies, including the "debt brake," pose challenges to increasing public spending. Addressing these needs is vital for Germany's long-term #economic #growth and competitiveness within the EU, especially as Q3 #GDP growth came in at a modest 0.1%, 

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FINMA STRATEGIC GOALS FOR 2025–2028 ANNOUNCED The Swiss Financial Market Supervisory Authority (FINMA) has published its strategic goals for 2025–2028, approved by the Federal Council on November 13, 2024. These goals are grounded in a thorough risk assessment of Swiss financial market participants and aim to strengthen FINMA's long-term direction. Key focus areas include: Supervision & Integrity 🔍 Proactive and effective oversight to build trust in Switzerland’s financial market. Priorities include enhancing governance structures, risk management processes, and revisiting the supervisory approach for systemically important UBS. Financial and Operational Resilience 💡 Resilience matters: Ensuring adequate capital and liquidity levels, addressing outsourcing risks, and tackling cyber threats. The 2023 collapse of several regional US banks highlights the importance of liquidity and refinancing risk management. Framework Conditions 📜 Active contribution to financial market regulation with an emphasis on early intervention and technological advancements. The ‚Credit Suisse‘ case, marked by massive capital outflows and counterparty limits, was pivotal in shaping this focus. Organization ⚙️ Driving efficiency, advancing digital transformation, and increasing on-site inspections. FINMA aims to continuously optimize its internal operations for sustainable growth. With these priorities, FINMA is setting a clear course to ensure a secure and competitive Swiss financial market. 💼💻 #FINMA #FINANCIALMARKETS #STRATEGY2025 #SWITZERLAND #RESILIENCE #INNOVATION #GOVERNANCE #DIGITALTRANSFORMATION #SWISSFINANCE #LEADERSHIP #REGULATION

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The revised Basel Core Principles for Effective Banking Supervision are a major step forward for the safety and sustainability of banks, equipping them to better manage all material risks, says Supervisory Board Vice-Chair Frank Elderson. In our latest Supervision Blog post, he outlines how the revisions acknowledge the relevance of: 🔹 climate change 🔹 business model sustainability 🔹 operational resilience

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