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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 an Event in Sustainable Finance, Climate Change
Created a Post in Climate Change, Sustainable Finance
Significant worldwide momentum currently exists for investors and banks to set net-zero targets and publish comprehensive climate action plans. Ceres CEO Mindy Lubber sat down with U.S. Special Presidential Envoy for Climate John Kerry and other special guests to discuss how we can accelerate finance towards net zero.
Created an Event in Sustainable Finance, Gender
Created a Post in Climate Change, Sustainable Finance, Green Recovery from COVID-19
Post-COVID-19, low-carbon future requires transitions in infrastructure, energy, transport, and food systems, people around the world gathered virtually during this year’s World Bank and IMF meetings to discuss how private sector finance can play a key role. The World Bank’s President Malpass, U.S. Special Presidential Envoy for Climate John Kerry, Sri Mulyani Indrawati, and Macquarie Group CEO Shemara Wikramanayake had unique insights to share on the topic.
Created an Event in Sustainable Finance
Created a Post in Sustainable Finance
Why is it so important to know how green a bond is? The EIB's climate podcast green finance episode explains this is crucial to the fight against climate change.
Created a Post in Sustainable Finance, Climate Change
Science is back in the US! Time to start implementing the new US NDC and International Climate Finance Plan! https://www4.unfccc.int/sites/ndcstaging/PublishedDocuments/United%20St… https://www.whitehouse.gov/wp-content/uploads/2021/04/U.S.-Internationa…
Created a Post in Climate Change, Energy, Sustainable Finance
China and the US say they are committed to working together and with other countries on tackling climate change. Both nations also agreed to help developing countries finance a switch to low-carbon energy.
ESG investment aims to encourage companies to consider environment (E), social (S), and corporate governance (G) issues by raising their long-term corporate value. To mitigate greenwashing and, thus, attract more investment, the world should collectively work on defining green taxonomy (environmentally sustainable or green activities) as well as transition activities that are not green but are needed in the transition process toward net-zero emissions.