Financing the Future
Italy’s Ministry of Environment, Land and Sea, in partnership with UN Environment, launched the National Dialogue on Sustainable Finance in February 2016 to identify practical market and policy options to mobilize Italy’s financial system for sustainable development and climate action.
The conclusions of the paper are:
- Italy faces a strategic opportunity to harness its financial system to support the transition to a low-carbon, inclusive and sustainable model of development.
- The National Dialogue on Sustainable Finance was established to identify options that would improve the integration of sustainability factors across Italy’s financial sector.
- The dialogue identified a growing awareness and increased actions by financial institutions across the banking, capital markets, institutional investment and insurance sectors.
- The dialogue also recognized the barriers that prevent the scaling up of this good practice, including mispricing, short-termism, and low levels of awareness and capability.
- The dialogue identified 18 specific options, grouped in four areas: policy frameworks; financial innovation; market infrastructure; and knowledge building.