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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 Opportunity in Sustainable Finance, Energy, Green Recovery from COVID-19, Climate Change
Created a Post in Natural Capital, Climate Change, Sustainable Finance
Global investment in mangrove regeneration could return $11.8 billion by 2040. This report provides investment decision-makers with a business case to invest in mangrove restoration and identifies 40 cities which account for nearly 70% of global mangroves to create a global safety net.
Created a Post in Sustainable Finance
Global climate action needs trusted finance data - An agreed system for measuring funding of green projects in poorer nations will be vital to achieving action on climate change in 2021.
Created an Opportunity in Sustainable Finance, Energy
According to Simon Cripps, Executive Director for the Global Marine Program at WCS, "sustainable financing is pivotal for marine conservation beyond 2030 pledges".
Created a Post in Climate Change, Sustainable Finance
How Asset Managers Can Improve Their Voting Record on Climate in 2021
Rising Temperatures, Rising Risks - (Finance & Development 2008)
Created a Post in Sustainable Finance, Industry and Entrepreneurship, Natural Capital
USAID facilitates working capital loan, debt facility for IBIS Rice in Cambodia to increase wildlife-friendly organic rice sales
Created an Event in Sustainable Finance, Climate Change
Climate change and global finance: Is the financial sector reaching a tipping point?
The financial industry also sees the climate crisis as a threat to future speculation profits. Industry giants like BlackRock are calling for an end to fossil fuels and siding with the environmental movement.