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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 Sustainable Finance
Now here's a boost for the Amazon - France leading the way again. Let's hope BNP peers jump on board - fast.
Norway’s $1.3tn oil fund calls for greater gender equality
Norway’s $1.3tn oil fund has finally revealed its position on gender equality as the world’s largest sovereign wealth investor said that all companies with less than 30 per cent female directors should consider having a target to boost the number.
The Green Finance Measures Database maps the significant acceleration in policy and regulatory action on green finance over the past 6 years.
New figures released by the Green Finance Platform show that there are some 500 national and sub-national policy and regulatory measures on green finance in place globally. This represents a 180% increase since 2015.
In late 2020 - in an effort to build back better post-COVID - a number of developed and developing countries have reallocated capital to help finance a green response to the pandemic, with the green recovery being led by the European Union and big emitters releasing green stimulus backed by net zero pledges.
Greening monetary policy
A must read blog from Frank Elderson, Member of the Executive Board of the ECB
Created a Post in Sustainable Finance, Blue Economy, Green Recovery from COVID-19
Many SIDS are unable to access official development assistance and international capital markets due to their size, lack of creditworthiness, or high debt levels. As they work to recover from the pandemic, they are tapping into new, innovative financing mechanisms to draw in impact investment and private sector financing.
Created a Post in Energy, Sustainable Finance, Transportation and Mobility
ADB and Energy Absolute Public Company Limited signed a 1.5 billion Thai baht ($47.62 million) green loan to finance ongoing renewable energy projects and a countrywide electric vehicle (EV) charging network in Thailand. This green loan is the first climate loan in Thailand to be certified by the Climate Bond Initiative.
Central banks aren't what they used to be - and the better for it
Banks now tackle diverse issues, be it Covid-19, climate change or inequality. Purists may disagree but there’s no other option
Created a Post in Energy, Sustainable Finance
New NRGI Report says the world’s state-owned fossil fuel companies are poised to invest about $1.9tn (£1.4tn) in the next decade in projects that would destroy any prospect of meeting the Paris agreement climate goals.
Corporate governance mechanism and performance of insurers in Pakistan