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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 Climate Change, Sustainable Finance, Waste Management
GREAT NEWS: ‘Biggest step forward on climate ever’: US President signs Landmark Climate Bill worth $369 billion to fight climate change!
It is the beginning of the HOPE we have all hoped for.
Let us rejoice and be glad - because this 'landmark climate bill' benefits the entire world, creating that acceleration needed to mitigate against the frequenting GHG emission-induced intense disasters.
Let other Nations follow this beautiful example, why not?
Created a Post in Circular Economy, Climate Change, Sustainable Finance
Last week, the US congress passed the Inflation Reduction Act, the nation's biggest-ever climate bill.
▶️ Can this help accelerate emissions reduction? ▶️ What problems still stand in the way of realizing #NetZero?
"The sooner we acknowledge challenges that accompany net zero as a concept, the better we are placed to accelerate collective efforts to transform societies #ForPeopleForPlanet" - Jonathan Wilson, 10YFP Sustainable Lifestyles and Education Programme
Find out more on #GGKPInsights
Created a Post in Sustainable Finance
Why should private equity take lead in sustainability?
A huge opportunity for private equity—and for society—now exists.
Three forces are pushing ESG in the industry. ESG is becoming more important to limited partners and their beneficiaries, many LPs and GPs believe that ESG will be essential for private equity to continue delivering its historically high returns, and portfolio companies increasing recognize the importance of ESG issues.
As PE-owned companies operate on a longer time horizon, they are relatively capable of making investments without the glare of quarterly earnings calls.
What’s really behind the failure of green capitalism?
'We live in a society structured and defined by market relations, and the idea that market-based solutions are the best, most pragmatic, and often only path to resolving most problems is powerfully ingrained common sense. It is, admittedly, difficult to imagine an alternative. It is also urgent and necessary. The siren song of easy win-win solutions to unprecedentedly complex and systemic crises is powerful, but must be resisted.'
The investment drought of the past two decades is catching up with us
Despite 20 years of cheap credit, countries have failed to capitalise on shoring up their futures
Created a Post in Cities and Urban Development, Green Recovery from COVID-19, Sustainable Finance
How can cities best raise climate adaptation finance?
How to make adaptation projects attractive to investors against some challenges?
Municipal leaders across Asia, Africa, Europe, USA, Latin America, and Middle East who serve as City Ambassadors of City Climate Finance Leadership Alliance share their cities' practices and insights on city-level climate finance.
Over two-thirds of the world’s population is expected to live in urban areas by 2050. There's certainly an urgent need for cities to prioritize adequate funding, technology transfer, and political commitment to climate change adaptation.
Created a Post in Sustainable Finance, Natural Capital
Two months after they adopted bitcoin as an official currency, Central African Republic launched a project to tokenize the nation's natural resources.
Under the 'Sango initiative', the country has the ambition to "transform natural resources into equally valuable and important digital assets through an unprecedented new administrative and economic movement."
GOOD NEWS! The world is now beginning to seriously amplify the removal of already emitted greenhouse gases. This is key to avert frequenting GHG emission induced intense disasters ravaging the entire world.
"In April 2022 several major corporates, including the owners of Facebook and Google, announced a new venture called Frontier that would commit US$925m (AU$1,359) to projects that pull carbon dioxide CO2 from the air and then store it." https://www.bloomberg.com/news/articles/2022-04-12/stripe-alphabet-meta…
"In May 2022, the US government announced a US$3.5bn program to build four major hubs for direct air capture projects." https://www.theguardian.com/environment/2022/jul/02/australian-company-…
======= https://www.thegreenforum.org/blog/accelerating-implementation-sdgs-ave… [26 January 2022 in Stockholm+50] https://www.thegreenforum.org/blog/rapid-robust-response-anthropogenic-… [19 April 2022 in Stockholm+50]
Created a Post in Cities and Urban Development, Climate Change, Sustainable Finance
Climate Mitigation or Adaptation, given the physical and transition climate risks incoming, among the fears is that of, first of its kind, 'Climate Refugees' not to forget the contribution to this by 'Climate Minsky Moments' from the economic side