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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, Energy, Sustainable Finance
Global energy systems must undergo a wholesale switch to low-carbon and energy-efficient technologies to achieve a net-zero emissions by the mid-century. Yet in reality, there has been no urgency in facilitating clean energy transition given the projected economic models. However, this blog identifies how the low-carbon transition may actually end up being much cheaper than models initially predicted.
Created a Post in Sustainable Finance, Green Recovery from COVID-19, Industry and Entrepreneurship
"Take, make, dispose, repeat are four words that underpin every aspect of our daily lives. But at what cost to people, and our planet?"
Check out the latest episode of #TheGreenRenaissance: From Lines to Loops for a Circular Economy - out now! ⭕
With COVID-19 again highlighting the wastefulness of our economic model, how do we embrace circularity as part of a green recovery to deliver on multiple fronts?
This month Ellen MacArthur Foundation’s Miranda Schnitger, UNIDO’s Nilgün Tas and Centro Tecnológico del Plástico’s Paula Iharur have the answers!
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Created an Opportunity in Natural Capital, Sustainable Finance, Forestry
Created an Opportunity in Sustainable Finance, Climate Change, Gender
Created an Event in Sustainable Finance, Climate Change, Gender
Created a Post in Sustainable Finance
U.S. regulators should demand banks to hold more cash for climate risks -think tank
The plan, published by the Center for American Progress, is likely to inform a looming debate about exactly how far bank regulators should go in policing climate change as the Biden administration looks to tackle the issue on all fronts.
A financing ecosystem supported by data flows that capture the sustainability performances of companies and supply chains is needed to drive investments towards green growth and achieving the SDGs. Despite the technical readiness, policy intervention and guidance are still needed in order for green finance to grow.
Our latest blog elaborates on effective data sharing that also concerns the protection against unauthorized access and data breach for a digital green finance future, written by Yaxuan Chen.
Created a Post in Energy, Climate Change, Sustainable Finance
Should gas and oil projects stop receiving funding? The ADB aims to end financing for coal mining and power plants, yet critics remain particularly on having methane gas as a “transition fuel”.
Created a Post in Sustainable Finance, Green Recovery from COVID-19
What is the link between environmental degradation and increased frequency of zoonotic disease outbreaks? This news article recognises how financial and technical support is an important aspect in preventing disease outbreaks.
Created an Event in Sustainable Finance