Greening the Financial System
Date: 01 Nov 2016
The Geneva Environment Network, UN Environment Finance Initiative and UN Environment Inquiry into the Design of a Sustainable Financial System would like to invite you to join us for a discussion on Greening the Financial System, Tuesday 1 November 2016, from 11am-1pm at International Environment House II, Geneva.
- Momentum is building to align the financial system to support sustainable development and economic growth. In the last six months, a range of market and policy actions have been taken that support the growth of green finance such as:
- The green bond market is booming, fueled by investor demand, new regulations and strategic investment needs, as well as China’s entry into the market.
- National leadership continues to be a driving force, e.g. China adopting a ground-breaking plan to green its financial system; EU committing to a strategic review of sustainable finance.
- UN Environment Inquiry has identified over 200 innovative policy and regulatory measures that have been taken across 60 countries to link finance and sustainability.
- G20 Leaders issued the first communiqué that includes green finance, and the Financial Stability Board is exploring climate risks across the financial system.
- Sustainability is becoming a competitiveness factor for some of the world’s financial centers, including Hong Kong, Nairobi, London, and Paris.
Momentum is to be applauded, but is not enough to deliver financing to meet the climate commitments under the Paris Agreement, which can also lead to additional economic growth. Further policy and market reform is necessary to bring green finance into the mainstream of the financial infrastructure.
The panel of this event will include, among others, the participation of: Simon ZADEK and Nick ROBINS, co-directors of UN Environment Inquiry, Steven STONE, Head of UN Environment Economics Branch, Mark HALLE, IISD European Representative, and Stefan SCHWAGER from the Swiss Federal Office for the Environment.