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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 an Event in Sustainable Finance, Energy, Climate Change
Created an Event in Sustainable Finance, Green Recovery from COVID-19, Climate Change
Created an Opportunity in Natural Capital, Sustainable Finance, Forestry
Created a Post in Climate Change, Sustainable Finance, Industry and Entrepreneurship
Climate action in Asia - a region that produces more than half of global emissions - is intensifying, and competition among rivals helps. There has been 57% increase in companies setting carbon-cutting targets or are in the process of getting targets approved, between 2019 and 2020.
An interesting article that questions whether the Asian corporates' targets realistic, ambitious or greenwash.
Created a Post in Sustainable Finance, Natural Capital
World’s First Wildlife Bond to Track Rhino Numbers in Africa
A bond designed to raise funds to grow the population of endangered black rhinoceros in South Africa will be sold by the World Bank this year
Created a Post in Sustainable Finance
‘It’s moving deckchairs on the Titanic’: Former BlackRock sustainability executive says Wall Street’s green investing is ‘PR spin’
Tariq Fancy, who served as chief investment officer of sustainable investing at the world’s largest asset manager, tells Louise Boyle the practice has little impact on reducing greenhouse gas emission
U.S. Weighs Global Climate Impact Benchmark for Wall Street
The Biden administration is considering ways to push the global finance industry to consistently account for carbon dioxide emissions and green investments, according to people familiar with the matter.