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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, Sustainable Finance, Green Recovery from COVID-19
Very interesting overview of Japan's pledge to achieve carbon neutrality by 2050 and the role of finance.
Created a Post in Climate Change, Sustainable Finance
Factoring climate change into the debt restructuring process could help motivate sovereign lenders and even private creditors to write off a certain percentage of the debt of heavily-indebted poorer countries, in exchange for progress toward their sustainable development and climate goals
Created a Post in Sustainable Finance
Climate Fintech Is Coming
What do you get when you combine the buzziest tech sector with the most high-profile public policy issue? Financial technology combating climate change.
Created an Event in Sustainable Finance, Cities and Urban Development
Created an Event in Sustainable Finance, Green Recovery from COVID-19
Created an Event in Sustainable Finance, Climate Change
UNEP FI’s TCFD Banking programme has launched 3 new papers - * Decarbonisation and Disruption: Understanding the financial risks of a disorderly transition using climate scenarios * Pathways to Paris: A practical guide to climate transition scenarios for financial professionals * The Climate Risk Landscape: Mapping Climate-related Financial Risk Assessment Methodologies
The sustainability nonprofit Ceres issued formal comments to the Federal Reserve Board of Governors today, urging the agency to strengthen and modernize the Community Reinvestment Act (CRA) by incorporating considerations of climate resilience and racial justice.
ESG scores: an outdated concept
The concept of ESG scores - aggregating hundreds of indicators from diverse and complex topics - is outdated, particularly when repackaged by the investment management industry as an investment signal. The time for change has come.
The Top 6 Barriers to Better ESG Data (and What To Do About Them)... The bottom line: A tipping point is near on ESG data