Banking & Sustainability: Time for Convergence
In 2014, the UNEP Finance Initiative (UNEP FI) and the University of Cambridge Institute for Sustainability Leadership (CISL) commissioned a study entitled Stability and Sustainability in Banking Reform – Are Environmental Risks Missing in Basel III?, in recognition of the growing number of banking regulators around the world that have started to act on environmental and social issues, and aimed to assess the role that supranational banking regulation might play in this domain. The resulting report pointed to the material links between financial stability and environmental (and social) risks.
This briefing provides a synthesis of the current state of thinking on the topic. It is intended as a means of sharing key findings with policymakers and of engaging them on the matter.