UK
Publications
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The Financial System We Need: Aligning the Financial System with Sustainable Development
Date: 08-Oct-2015Download the full report: [AR] [CH] [EN] [ES] [FR] [PT] [RU] Download the policy summary: [AR] [CH] [EN] [ES] [FR] [PT] [RU] This first edition of “The Financial System We Need” argues that there is now a historic opportunity to shape a financial system that can more effectively finance the development of an inclusive, green economy. This opportunity is based on a growing trend
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UK Country Report
Date: 14-Jan-2016This paper looks at the steps that the UK has taken towards a sustainable financial system shaped by its role as a global financial centre and a distinctive dynamic between social entrepreneurs and civil society organisations, market innovation and policy frameworks.The City of London is not only home to some of the world’s largest financial markets, but
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European Union Report
Date: 22-Mar-2016This report presents a stock-take of actions under way at the European Union level and in selected Member States to align the rules governing the financial system with environmental sustainability. Looking across the range of innovations across the EU, five broad policy priorities emerge. The central challenge of financing sustainable development in the EU is
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4th Update Report: The Coming Financial Climate
Date: 07-May-2015This is the 4th Update Report of the UNEP Inquiry, it is focused on the challenge of financing the low-carbon transition. Many approaches and instruments will be needed to deliver the financing needed. Public finance, funded by tax revenues and international transfers, will provide part of the solution. However such finance will be inadequate. Private
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2nd Update Report: Insights from Practice
Date: 07-Oct-2014This is the second update report by the UNEP Inquiry, it highlights early lessons from the Inquiry’s ongoing work in more than a dozen countries. What is clear from inital engagement is that even with strong real economy policies to correct market failures and deploy public capital, some interventions in the financial system will be
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A Role for Finance Ministries
Date: 20-Oct-2015This paper investigates various roles that finance ministries can assume to promote those policies, regulations and standards which help to create a sustainable financial system. Finance ministries typically interact with the financial sector in many ways, from regulator and supervisory mandate setters to tax authority and sovereign debt issuers. All of these points of leverage
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Lenders and Investors Environmental Liability
Date: 19-Apr-2016This working paper presents an overview of Lender Environmental Liability (LEL) and Investor Environmental Liability (IEL) regimes and issues. Environmental harm and degradation is often irreparable. Therefore, our assumption is that precaution is the main objective of any international and domestic environmental legal regime. The paper explores the conditions under which LEL/IEL can be effective
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Fiduciary Duty in the 21st Century
Date: 08-Sep-2015This report is based on an analysis of investment practice and fiduciary duty in eight countries: Australia, Brazil, Canada, Germany, Japan, South Africa, the UK and the US. It is based on interviews, roundtables and webinars with asset owners, investment managers, lawyers and regulators and a comprehensive review of law and policy on fiduciary duty. The purpose of this
Community
The City of London is not only home to some of the world’s largest financial markets, but also to a range of sustainable finance initiatives that are setting the agenda both domestically internationally.The financial crisis of 2007-8 brought unprecedented costs to the UK economy – and has resulted in the perhaps the most significant overhaul of the governance structure for the UK’s financial system. The UK is notable for its vibrant culture of social entrepreneurs and civil society organisations working on financial innovation including green and ethical finance. However despite leadership in many areas the UK could perhaps be classified as a ‘sleeping giant’ of the financial system in terms of the transition to sustainability. There is considerable activity – but this has not yet been brought together at a strategic level.