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The financial system can play a major role in contributing to a transition towards a low-carbon, resilient and inclusive economy. However, for this to happen, three key deficiencies must be addressed: the misallocation of available capital for long-term development; externalities and systemic risk, including climate change; and environmental stress, notably natural disasters. Critical to aligning financial and capital markets will be measures within the financial system to green private finance through adjustments to key policies, regulations, standards and norms, and through market innovations.
In 2018, the Global Environment Facility (GEF) launched the GEF Aligning Finance Policies project to build international consensus to align financial systems with the UN Sustainable Development Goals (SDGs) and develop national regulatory actions. The project focuses on the development of national Sustainable Finance Roadmaps in six countries – China, India, Kazakhstan, Mexico, Mongolia and Nigeria – and building international consensus on best practices – from policies and regulations to standards and norms – to green the financial system.
This Green Forum discussion is for professionals to share their knowledge and experience on sustainable finance, particularly best practices to help align the financial system with sustainable development and climate change mitigation needs, as well as ways to incorporate sustainability factors into the rules that govern banking, insurance, institutional investment and capital markets.
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Created a Post in Climate Change, Sustainable Finance
Tariq Fancy on the failure of green investing and the need for state action
Pushing firms to adopt climate-friendly practices doesn’t work, but government can change economic incentives, says a former sustainable-investing insider
Created a Post in Sustainable Finance, Climate Change
An MCC-led study calculates the cost burden for individual private households. It shows that the EU Commission is on the right track with its policy of targeted financial support.
Created a Post in Sustainable Finance
A recently published UNEP x UNCTAD pilot project demonstrates how properly trained machine learning models can support evidence-based, impact-oriented allocation of public finance flows.
Predicting the environmental effects of government money could enable countries to better align their budgets with specific sustainability and development goals.
Curious how machine learning can support your sustainable finance work? Check out our pilot project via the link below, and send me direct message (or email: ryan.maia@graduateinstitute.ch) if you're interested in learning more or getting involved.
PS: Our article features plenty of interactive charts - check them out ?
Created an Event in Sustainable Finance
The EU raised €12 billion ($13.8 billion) from its first green bonds, of an expected €250bn of the European Commission green bonds by the end of 2026. The 15-year green bond received more than 135 billion euros of demand, making it the largest green bond launch and the highest level of demand for a green bond sale to date. The bloc will use the funds to finance its pandemic recovery.
Carbon pricing shows serious promise as a tool in the fight against climate change.
Deterring the use of fossil fuels, such as coal, fuel oil, and gasoline, is crucial to reducing the buildup of heat-trapping greenhouse gases in the atmosphere. Carbon pricing provides across-the-board incentives to reduce energy use and shift to cleaner fuels and is an essential price signal for redirecting new investment to clean technologies.
Created an Event in Sustainable Finance, Cities and Urban Development
Created a Post in Energy, Sustainable Finance
A new research by Sustainable Energy for All (SEforALL) and Climate Policy Initiative identifies which high-impact countries are receiving finance for coal fired power, the sources of this investment, its key drivers and the risks attached. The research also offers a series of recommendations to accelerate coal phase-out in favor of more cost-effective renewable energy solutions that support both increased energy access and the transition.
Join us for this webinar where SEforALL and CPI will present findings and recommendations from the Coal Power Finance in High-Impact Countries knowledge brief.
Created an Event in Sustainable Finance, Climate Change
Created an Opportunity in Natural Capital, Sustainable Finance, Climate Change