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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 Sustainable Finance
Banks can no longer ignore climate risk
When climate change meets capital adequacy things get interesting. Really.
Created a Post in Climate Change, Sustainable Finance
The World Bank announced a $14 million bond payment to 21 projects that reduced greenhouse gases (GHG) emissions from methane and nitrous oxide around the world.
EUROPECDSB Highlights Limited TCFD Compliance, Calls for Further NFRD Reforms
wo thirds (68%) of large European firms are currently only partially compliant with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD), according to a new Climate Disclosure Standards Board (CDSB) report.
Created an Event in Sustainable Finance, Agriculture, Climate Change, Forestry
Scientists warn of ‘disconnect’ between EU climate goals and finance rules
Experts say commission is at risk of jeopardising pledge to reduce emissions to net zero by 2050
A recent survey finds that investors plan to double their sustainable assets under management in the next five years – rising from 18% of assets under management on average today to 37% on average by 2025.
Created a Post in Sustainable Finance, Natural Capital
Learn more about blended finance and how it works, along with examples from across the globe in agriculture, energy, fisheries, forestry, biodiversity, and more!
Created a Post in Climate Change, Green Recovery from COVID-19, Sustainable Finance
New brief out from the Green Finance Institute on facilitating a green recovery in the UK, with investments by the UK National Infrastructure Bank in key sectors -- the built environment, clean energy, transport, and more! For instance, the report notes that "there are nature-based projects that have the ability to attract significant private capital if the Government acts as a co-investor or provides first loss guarantees particularly within sustainable and regenerative agriculture and sustainable forestry – both sectors which could provide water and carbon sequestration."
Bonds Aimed at Heavy Corporate Emitters Set to Roll Out in 2021
The next thing in green investing is a new kind of debt designed to help fund the trillions of dollars needed to wean the world from carbon.
Major Asset Managers Still Failing to Back Social, Climate Resolutions
ShareAction analysis of proxy voting records reveals wide variations in support for sustainability measures among investee companies.