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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
Created a Post in Climate Change, Sustainable Finance
Largest approval by GCF to a single-country equity fund for a private sector climate mitigation program — The Board of the GCF has approved Dutch development bank FMO’s proposal to accelerate private and public sector investment in India’s green infrastructure projects. Through the Green Growth Equity Fund (GGEF), managed by EverSource Capital, the Dutch development bank will invest USD 137mln in the energy value chain, water, waste and transport sectors that promote low carbon and climate-resilient initiatives in line with India’s climate objectives and SDGs.
Created a Post in Sustainable Finance, Green Recovery from COVID-19, Climate Change
How does a country deal with climate disasters when it’s drowning in debt? The combination of debt, climate change and environmental degradation represents a systemic risk to the global economy.
Created a Post in Sustainable Finance
Attitudes and Behaviors Regarding Environmental Protection in the Financial Decisions of Individual Consumers
Governing Finance – The Case for a New Playbook
The current approach to financial governance is inadequate, and dangerously so. The narrative that those governing finance are exclusively focused on fighting inflation is oblivious to the challenges the world faces. It is also out of touch with reality
Created a Post in Natural Capital, Sustainable Finance, Green Recovery from COVID-19
Check out the latest #TheGreenRenaissance podcast, which was released last week! ?
This month’s topic: Sustainable Finance ?
Featuring UNDP’s Onno van den Heuvel, Global Canopy’s Andrew Mitchell and BNP Paribas’ Gwen Yu.
Q: With COVID-19 the product of a biodiversity crisis, how do we redirect finance flows to create a more nature-positive economy tomorrow?
Subscribe so that you don’t miss out: https://bit.ly/3sY38PO
Created an Event in Sustainable Finance, Climate Change
Created an Opportunity in Sustainable Finance, Energy, Forestry
Created an Event in Sustainable Finance, Blue Economy, Climate Change
Regulators want firms to own up to climate risks
America’s main financial regulator is taking an interest in climate change—and wants everyone to know. The Securities and Exchange Commission (sec) has created a task-force to examine environmental, social and governance (esg) issues, appointed a climate tsar and said it will “enhance its focus” on climate-related disclosures for listed firms. It looks poised to introduce, among other things, rules forcing firms to reveal how climate change or efforts to fight it may affect their business.