General

Asset Pools : General

Inquiry Publications

  • China Report: Environmental and Industrial Policy Environment

    Date: 06-Oct-2015

    This paper outlines the frameworks of Chinese law and policy concerning environmental protection, public investment, financial policy and industrial policy and the challenges they face. Policy and Legal Frameworks: Over the past 20 years, China has built up a comprehensive system of laws,regulations, rules, standards and guidance on environmental protection. However, challenges remain an inadequate institutional

  • The Value of Everything

    Date: 15-Dec-2015

    The purpose of this paper is to begin the process of clarifying global asset value especially as may be affected by the sustainability (or lack thereof) of financial systems, and not just that which is represented by institutional assets under management. This paper, therefore, will answer this question of what is the actual total value of

  • China Green Finance Task Force Report: International Experience

    Date: 02-Apr-2015

    The Green Finance Taskforce was convened in 2014 by the People’s Bank of China and the UNEP Inquiry. The Taskforce brought together leading Chinese experts on financial markets, policy and regulation from government, academia and from the private sector together with international experts and practitioners. One of the inputs to the deliberations of the Taskforce

  • China Report: A Framework for Green Finance

    Date: 06-Oct-2015

    The existence of externalities has made it hard to quantify the intrinsic value of the “green mountains and blue water” of the natural environment. This has led to a dysfunction in traditional financial markets, which are delivering an insufficient supply of capital for green development and an oversupply of capital for highly polluting activities. As a new financial

  • China Report: Demand for Green Finance

    Date: 06-Oct-2015

    This paper reviews the statistics on investment in fixed assets of key green sectors in China to date and estimates the demand for green finance over the next five years, from 2015 to 2020. It estimates over 3 per cent of GDP—RMB 1,642 billion (USD 260 billion)—was invested into core green industry and infrastructure sectors in 2012.

  • China Report: Monetary Policy and Green Finance

    Date: 06-Oct-2015

    Monetary policy has been largely neglected in the worldwide discussions on green finance. Similarly, most central banks have not even started thinking about their role in helping society reach its environmental objectives and about the potential implications of environmental degradation for their mandates. Bringing light to this blind spot is critical. This report aims to

  • Towards a Theory of Sustainable Finance

    Date: 07-Oct-2015

      The paper is normative rather than descriptive. It does not review how the financial system currently functions, but rather how it ought to function in the future. It draws upon concepts, theories and arguments from the literature in both theoretical economics and normative philosophy. Its goal is to identify a new direction for finance which the

  • China Green Finance Task Force Report: Theoretical Framework

    Date: 02-Apr-2015

    Despite the considerable headway made in the promotion of green credit by the government of China, efforts for building a green finance system remain fragmented and conceptual. This paper develops a theoretical framework for green finance. A ‘green finance system’ refers to a series of policies, institutional arrangements and related infrastructure building that, through loans, private equity,

  • New Rules for New Horizons

    Date: 27-Jul-2015

    On July 3rd 2015, the UNEP Inquiry into the Design of a Sustainable Financial System and AXA co-hosted a high-level symposium in Paris to explore the nexus between the long-term challenge of mobilizing finance for sustainable development, and impact of the post-2008 financial reforms. Two further drivers of major change to the financial system were

  • Fintech and Sustainable Development – Assessing the Implications

    Date: 14-Dec-2016

    The report, a companion to the second edition of “The Financial System We Need”, assesses how the financial system’s core functions are likely to be disrupted by financial technology (“fintech”) innovations and how they could help – or hinder – efforts to align financing with sustainable development. It considers ways to: Unlock greater financial inclusion by

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