Green Finance – A Growing Imperative
The Paulson Institute, together with the China’s Green Finance Committee, the Securities Industry and Financial Markets Association (SIFMA), the United Nations Environment Programme (UNEP) and Bloomberg Philanthropies, co-hosted an event on 16 April 2016 at the Bank of America in Washington, D.C. to explore the implications of the greening of the financial system for financial market actors and policymakers.
Key messages are:
- Transforming the financial system is key to promoting the green transformation of our economies, alongside environmental regulations, pricing reforms, and fiscal policies.
- Needed urgently is the scaled “industrialization” of green finance, which in turn requires international harmonization of definitions, products and standards.
- Market-based innovations are supporting the development of green finance, including green bonds and associated principles, definitions and standards, and enhanced risk analysis and disclosure.
- Public-private collaboration is needed to support the smart design and effective scaling of market innovations and policy measures to advance green finance.
- G20 has an important, continued role to play in policy signalling, converging definitions and standards, and exemplifying good practice.
Related Inquiry Publications
- Greening the Financial System: Enhancing Competitiveness Through Economic Development
- Report of the Second GreenInvest Consultation
- Shifting Perceptions: ESG, Credit Risk and Ratings – part 1: the State of Play
- Scaling Citizen Action on Climate: ANT Financial’s Efforts Towards a Digital Finance Solution
- Roadmap for a Sustainable Financial System