General

Asset Pools : General

Inquiry Publications

  • Financing the Transition

    Date: 07-Apr-2017

    This paper presents a fictional Fast Track scenario, suggesting the key features of how a rapid transition to a low-carbon, resilient economy could play out in the financial system in terms of impacts on assets as well as on financial policy. This scenario helps to challenge some of today’s assumptions, notably that climate disruption is

  • Delivering The Green Economy Through Financial Policy

    Date: 07-May-2014

    This working paper was produced for the early stage of the Inquiry to provide an inital overview of the areas where the financial sector can have an impact on moving the green economy forward and the extent to which green financial policy is already actively being practiced. The paper is focused on financial regulation and the instruments of financial policy that

  • 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,

  • 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

  • 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

  • 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: Internalizing Climate Mitigation for Financial Policy-Makers

    Date: 06-Oct-2015

    The paper also shows how the  objectives of financial policy-makers—such as investor protection, transparency, maintaining the safety and soundness of financial firms, financial stability, tackling systemic risk, reducing information asymmetries, tacking market failures and developmental objectives— offer multiple avenues to legitimize policy measures that can contribute to the greening of the financial system. In particular,

  • How Does the Development of the Financial Industry Advance Renewable Energy?

    Date: 15-Aug-2015

    This paper investigates how the development of the financial industry connects with renewable energy. The authors analyze 198 countries over three decades in various model settings (fixed effects, random effects, dynamic panel). They use a wide range of proxies for the development of the financial industry and establish that in general this development has a positive impact on renewable energy capacity.

  • Financial Dynamics of the Environment

    Date: 15-Jul-2014

    This Working Paper was an early mapping study for the Inquiry and  is based on a literature review (of available literature mainly from OECD countries). It summarises the arguments for why the environment and environment-related risks are relevant to the financial system and reviews the main structural barriers preventing the financial system from managing such issues. Key findings include

  • 1st Update Report: Invitation and Background

    Date: 07-Jun-2014

    This is the Inquiry’s first update report. It outlines the starting points and questions for the Inquiry. Key questions include: Tomorrow’s Financial System – What are the emerging dynamics in the financial system and the real economy which could be important for progress towards or away from a sustainable financial system?How do existing financial rules

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