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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 Sustainable Finance, Climate Change, Energy
Hello Sustainability people! How familiar are you with EU Taxonomy? Did you know that now some companies MUST report on their sustainable activities and financial contributions? If you think that this is relevant for you keep reading!
WHAT IS EU TAXONOMY? AND WHAT IT MEANS FOR YOUR BUSINESS?
The EU taxonomy is a classification system that establishes a list of economically sustainable environmental activities. It is part of the EU's plan to increase sustainable investment and put the European Green Deal into action. It specifies the technical requirements that must be met in order for an activity to be considered sustainable.
HOW DOES IT IMPACT YOUR BUSINESS?
All large companies must report their taxonomy alignment, as well as relevant information that may help investors assess their ESG performance, beginning January 1, 2023.
Small and medium sized companies can report on a voluntary basis, but will be affected by the EU’s upcoming Corporate Sustainability Reporting Directive Investment funds will also be required to report on taxonomy alignment and collect data necessary to assess the degree of taxonomy alignment or the portfolio companies themselves.
To find out more about the EU Taxonomy requirements for reporting and its benefits read this blog and understand what are your responsibilities as a business owner.
Created a Post in Sustainable Finance, Energy, Gender
Sustainable finance and gender equality are at a crossroads.
Tomorrow, celebrating the women’s history month, join @GGKP_Finance & GGKP Gender Expert Group to discuss challenges & opportunities for gender-just energy transitions.
Speakers include: In Woo Jung, Green Growth Knowledge Partnership (GGKP) Ingvild Solvang, Global Green Growth Institute (GGGI) Inka Schomer, International Finance Corporation (IFC) Irene Giner-Reichl, Global Women’s Network for the Energy Transition (GWNET) Maria Elena Valenzuela, International Labour Organization (ILO) Taciana Peão Lopes, Mozambique Women of Energy (MWE) Zonibel Woods, Asian Development Bank (ADB)
The webinar will be livestreamed on different platforms at 10AM CET as well! ➡️https://ggkp.org/Facebook ➡️https://ggkp.org/YouTube ➡️https://ggkp.org/LinkedIn ➡️http://thegreenforum.org/
?https://ggkp.org/FinanceMeetsGender
Created a Post in Sustainable Finance
STUDENT SURVEY! Investigating the extents to which sustainability and the whole life model are adopted within the engineering industry?
Calling on everyone from the UK engineering industry! If you have any experience with overseeing or being involved in a products design or development phase, please can you complete this brief survey (it will only take 10 minutes).
Survey Link: https://lnkd.in/eScwGnhA
Further information about the study's main objectives, including what being a participant involves can be found through the Participant Information Sheet: https://lnkd.in/eBsKCFh3
If you have any inquires, please drop me a message on here or via email. Feel free to share this post with your network! Thank you in advance ?
Created a Post in Industry and Entrepreneurship, Sustainable Finance
A new site about Sustainability Accounting in Business is available with many education resources and links to webinars on this topic. The webinar, Sustainability Accounting Overview and Hands-On, is accredited for Certified Public Accounts in the USA to earn Continuing Professional Education credits. It is the only webinar with this credential on this topic. A free version of the webinar is available online to Members of this Forum:
With carbon reporting requirements expanding around the world, 2023 will see many businesses disclosing their emissions for the first time.
To report emissions, a business first needs to calculate them using carbon accounting, a process that involves mapping operations and purchases to their resulting greenhouse gas emissions.
To help businesses on their climate journeys, Normative has released a suite of new updates for the 2023 carbon reporting season, enabling businesses to more accurately account for and disclose their full greenhouse gas emissions.
Created an Event in Sustainable Finance, Climate Change
Created a Post in Climate Change, Sustainable Finance
Green Finance Platform’s Database Shows Significant Rise in Global Green Finance Measures!
Dear Green Community & Sustainable Finance Practitioners,
We are happy to share the latest numbers and analysis of the Green Finance Measures Database (GFMD). GMFD is a global compendium of sustainable finance policies and regulations across over 100 developed, developing and emerging economies. This year, we added 100 new sustainable policy and regulatory measures on the database, reaching a total of 784 national and sub-national financial measures from 109 countries which is a 317% growth since 2015.
Read more about, check the press release that summarizes the key highlights and discussion.
If you find it useful kindly circulate it among your networks.
“The increased utilization of the Green Finance Measures Database will help countries learn from global best practices and innovative financing mechanisms." – Asad Naqvi, Green Growth Knowledge Partnership
This year, the Green Finance Measures Database maps 780+ green finance policy & regulatory measures globally. This represents a 317% increase since the Paris Agreement.
Discover key takeaways from the new measures added to the database.
Created a Post in Circular Economy, Sustainable Finance
“Show me the money'' - How can multilateral banks better finance the circular transition?
More on this blog!
Created a Post in Climate Change, Natural Capital, Sustainable Finance
How can nature-based solutions (NBS) tackle societal challenges while positively impacting nature?
Join our side event at COP27 to learn more about successful NBS projects and further opportunities to accelerate NBS investment in Africa.
MBD Joint Pavillion | 16 Nov @ 17:00 (UTC+2)
?️ https://ggkp.org/Zqh ? https://youtube.com/c/AfDBGroup/streams ?️ https://ggkp.org/AGECommunity