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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, Industry and Entrepreneurship
New podcast from CIF on just transitions in climate investments, highlights that just transitions aren't just for the energy sector, but many others also. Learn more on the Just Transitions Initiative website - https://justtransitioninitiative.org/
Created a Post in Sustainable Finance, Green Recovery from COVID-19, Climate Change
To what degree have different types of green financial policy and regulatory measures been a key driver of green finance in different markets?
The Green Finance Platform, the International Network for Sustainable Financial Policy Insights, Research, and Exchange (INSPIRE), and the Grantham Research Institute on Climate Change and the Environment launched the Sustainable Finance Policy Effectiveness Working Group to provide financial policymakers with evidence on which regulatory actions may be most effective to support the alignment of financial markets with sustainable development
Created a Post in Climate Change, Sustainable Finance, Green Recovery from COVID-19
How can different types of green finance measures stimulate market growth while contributing to positive environmental impacts?
Today, the Green Finance Platform, the International Network for Sustainable Financial Policy Insights, Research, and Exchange (INSPIRE), and the Grantham Research Institute on Climate Change and the Environment announced the launch of a new Working Group dedicated to Sustainable Finance Policy Effectiveness
Created a Post in Sustainable Finance, Climate Change
U.S. annual tracked climate investment is less than a third of what is needed. To achieve the Paris Agreement’s goals of achieving net-zero emissions by 2050, the United States will need to invest at least $250 billion in climate mitigation solutions each year during the next decade.
Created a Post in Climate Change, Sustainable Finance
CDP analysis revealed that financial institutions underestimate their climate-related risks, identifying mainly the operational risks rather than credit and market risks - with a potential financial impact up to $1.05trn.
Created an Event in Sustainable Finance
Created a Post in Green Recovery from COVID-19, Climate Change, Sustainable Finance
AfDB President Dr Akinwumi Adesina reminded global audiences of the continent’s vast opportunities for green growth at the recent European Union-Africa Green Investment Forum.
Created a Post in Sustainable Finance, Climate Change, Green Recovery from COVID-19
More than ever, there is a widespread recognition that a healthy natural world is essential in supporting vibrant communities and economies.
Created a Post in Sustainable Finance
The Glasgow Financial Alliance for Net Zero (GFANZ), chaired by Mark Carney, UN Special Envoy on Climate Action and Finance, unites over 160 firms from the leading net zero initiatives across the financial system to accelerate the transition to net zero emissions by 2050 at the latest. One of the goals is to mobilise the trillions of dollars necessary to build a global zero emissions economy.
Last week, 43 of the world’s biggest banks launched Net-Zero Banking Alliance with a focus on delivering the banking sector’s ambition to align its climate commitments with the Paris Agreement goals. Would they help stop financing climate change?