Category: News

Coincides with launch of the Chinese version of the UNDP-FC4S ‘2021 State of Play Assessment Report’

April 22^nd 2022: As part of World Earth Day 2022, the Shenzhen Green Finance Committee have today held a seminar in Shenzhen to help promote the launch of the Chinese version of the United Nations Development Programme – Financial Centres for Sustainability Network (UNDP-FC4S), ‘2021 State of Play Assessment Report’.

Centred around the theme of ‘Promoting sustainable finance and jointly investing in protecting the planet’, the event was sponsored by the Shenzhen Green Finance Committee, supported by the UNDP-FC4S, and hosted by the China Emissions Exchange (Shenzhen), in association with the Shenzhen Exchange Group.

Thousands of people tuned in to watch today’s live stream.

Speaking at the event, Deputy President of Shenzhen Central Sub-branch of the People’s Bank of China, Mr. Chen Yuanfu, introduced the practice and beneficial attempts by Shenzhen to promote the development of green finance in an in-depth manner. He pointed out that this event is a further deepening of Shenzhen’s green finance international cooperation. He hoped that Shenzhen Green Finance Committee, as a platform and window for green finance international cooperation, will continue to work closely with FC4S to explore and improve the system and mechanism of sustainable investment, as well as to promote green finance capabilities and green finance business innovation. All of these efforts will enable Shenzhen to give full play to the advantages as an FC4S member, and contribute Shenzhen’s wisdom and strength to global green and low-carbon development.

Managing Director of FC4S, Mr. Stephen Nolan, introduced the network and said that it would continue to highlight Shenzhen’s green finance reform and innovation agenda, while actively promoting Shenzhen as a “pioneer of sustainable development” at home and abroad.

In his speech, Director of China Green Finance Committee and Advisor to Shenzhen Green Finance Committee, Dr. Ma Jun, paid tribute to Shenzhen’s innovative and leading work in the area of green finance. As the Co-Chair of the G20 Sustainable Finance Study Group, Dr. Ma Jun introduced discussions around transition finance framework at G20 level in the context of the G20 Sustainable Finance Roadmap. Dr. Ma Jun suggested that the availability of financing for helping traditional enterprises transition from high-emission to low-carbon should be increased, and the cost of financing capital reduced, in order to successfully achieve transition finance goals.

Following FC4S’ release of the ‘2021 State of Play Report’ in March of this year, the China Emissions Exchange (Shenzhen) as the Secretariat of the Shenzhen Green Finance Committee, translated the report into Chinese with the support of FC4S.

Deputy General Manager of the China Emissions Exchange (Shenzhen), Ms. Lin Yin, launched the publication on behalf of FC4S, the Shenzhen Green Finance Committee and the China Emissions Exchange (Shenzhen). Speaking at today’s event Ms. Lin provided an overview of the effectiveness of Shenzhen’s green and sustainable finance development.

The ‘2021 State of Play Report’ offers an analysis of 29 financial centers across the world, tracking their progress in supporting the sustainability agenda and identifying potential pathways and strategies. The report also promotes international connectivity and provides pertinent suggestions on sustainable finance development.

Bank of China Shenzhen Branch shared its experience responding to the requirements of the head office of the People’s Bank of China on promoting environmental information disclosure of financial institutions and introduced the 2021 Environmental Information Disclosure Report, which was released on the 18th April. This is the first environmental information disclosure report published by large State-Owned Commercial Banks in Shenzhen in accordance with the People’s Bank Of China Guidelines for Environmental Information Disclosure of Financial Institutions.

Industrial Bank Shenzhen Branch shared its “1 + 2 + 3” strategy in the marketing of carbon emission reduction financing, which is a set of mechanisms, two modes, and three work programs, and discussed practical examples of the strategy.

During the Dialogue session, panelists from regulatory bodies, international organizations and market institutions discussed the mechanism and practice of transition finance.

In her concluding address, the Head of FC4S Asia, Ms. Kelly Yu, highlighted the prospect of continuing cooperation between FC4S and the Shenzhen Green Finance Committee. She mentioned that both bodies had established a regular exchange mechanism and would jointly promote capacity building and international cooperation activities.

Today’s event was moderated by Liu Yang, General Manager of China Emissions Exchange (Shenzhen). Invited guests participating the event included Wu Jiang, Chairman of China Emissions Exchange (Shenzhen), senior representatives from local financial regulatory bureau and offices, as well as member institutions from the Shenzhen Green Finance Committee, financial professionals and academic experts.

In 2022, the Shenzhen-Green Finance Committee will further deepen the research on transition finance, explore the orderly and effective connection between green finance and transition finance, promote financial institutions to improve the ability and level of green financial services to the real economy, and help Shenzhen to play a pilot demonstration role and international exchanges and cooperation, explore the mode and accumulate experience for the development of green finance in China.

For further information regarding today’s event or FC4S please contact Kelly Yu (0086 13601169043) or by mailing xwykelly@yahoo.com.

 

Notes for editors:

Since China’s economy entered the stage of high-quality development, it has become the mainstream of financial work to promote high-quality development with new development concepts. China has carried out and been a world leader in the practice of green finance. Shenzhen Green Finance Committee and FC4S were both established in 2017. Under the guidance of Shenzhen People’s Bank, Shenzhen Green Finance Committee is positioned as a research think tank, a platform for deliberation, coordination and communication, and a window for international cooperation and exchange in the field of green finance, and has made numerous achievements in promoting the development of green finance in Shenzhen. Hosted by the United Nations Development Program, FC4S currently has 39 members, including world-renowned financial centers such as Tokyo, Paris, and Toronto, to share experiences in promoting green and sustainable finance development. Shenzhen Green Finance Committee joined the FC4S network on behalf of Shenzhen and became a founding member, which promoted the establishment of the Green Finance Supporting Real Economy Laboratory in Shenzhen. Among the FC4S membership, 12 are based in Asia with 4 in China, including Beijing, Shanghai and Hong Kong.

Geneva – The fourth annual State of Play report by the UNDP-hosted Financial Centres for Sustainability (FC4S) Network has identified several key areas where more focus is required to underpin progress around the sustainable finance agenda.

Overall, the report provides compelling evidence that financial centres’ initiatives were characterised by strong growth, increased scope, greater maturity and accelerated action across 2021. And with this year’s COP27 expected to focus on unlocking further capital in support of the transition, 2022 is shaping up to be an important year for financial centres and their sustainable finance activities.

The report, ‘Leading Financial Centres Stepping Up Sustainability Action’, is published today Monday, 28th February.

This year’s assessment, which surveyed 29 financial centres around the globe, reveals seven key insights on how financial centres across all continents are mobilising their capital, resources, connectivity, and expertise to support low-carbon transition and the achievement of the UN Sustainable Development Goals (SDGs). It also identifies the barriers they need to overcome to achieve these goals.

Key findings of the report highlight the need for:

• A Multistakeholder Approach and International Collaboration – Stakeholders’ heterogeneity within financial centres, with more than 70% of surveyed centres having significant private sector involvement, is critical to scaling up sustainable finance, as it enables systemic approaches. Also, international connectivity allows for the exchange of experiences and solutions.
• More and better data – over 60% of the 29 financial centres reported that data quality and availability are among the top barriers to scaling up sustainable finance.
• Standardization – 52% of respondents indicated that working towards consistency across the development of standards, taxonomies and guidelines is a top priority to their institutions.
• Professional development and education – 52% of financial centres surveyed reported that the lack of capacity and qualified workforce on sustainable finance is among the top barriers to scaling up sustainable finance. While an increasing number of training programmes at different levels have been reported, only 21% of financial centres have available all types of educational activities related to sustainable finance and only 28% and 35% percent reported having postgraduate and undergraduate courses related to sustainable finance available.
• Policy and regulatory engagement – 48% of respondents emphasised this as a top priority in 2022. The regulatory environment remains a critical driver of sustainable finance. This year, 27 out of the 29 sampled financial centres were home to at least one financial instrument or incentive implemented by public institutions, reaching at least 255 policies collectively.
• More options to scale up sustainable finance – 86% of financial centres reported barriers related to mobilising sustainable funds in this edition. Persistent challenges in this regard include the lack of sustainable project pipelines (40%) and the lack of supply of sustainable financial products (60%).
• Reliable commitments – The report noted concern around the quality and impact of market players commitments – almost three quarters of the 270 sampled market participants reported that they committed to mobilising finance for sustainability purposes, but only one quarter exclude companies engaged in fossil fuel activities.

Lamia Merzouki, Deputy General Manager Casablanca Finance City Authority and FC4S Co-Chair, said: “The assessment programme underpins FC4S global activities. It provides a snapshot of member progress and year on year priorities, which ensures FC4S allocates significant resources to support these. Noting the importance of the regulatory environment as a critical driver of sustainable finance, it is also an important tool for FC4S and our members to collectively engage with policy makers and regulators as we seek to accelerate the sustainable finance agenda in local markets, regionally and internationally. As we build towards COP27 this year, this engagement is key as we seek to mobilise increasing amounts of capital in support of the transition, while ensuring that private sector commitments and pledges are delivered.”

Jennifer Reynolds, CEO Women Corporate Directors Foundation and FC4S Co-Chair, said: “In recent years, the world has witnessed rapid growth in green and sustainable finance activities. However, at around 10% in some large economies, its proportion in total global financing remains low. The FC4S assessment programme helps members to address and prioritise the areas most needed to increase the scale of sustainable finance activities, while ensuring that the potential for green washing is minimized, thus underpinning the reputation, and functioning of the green and sustainable finance market.”

Stephen Nolan, Managing Director of Financial Centres for Sustainability, said: “Many emerging markets and developing economies are at the beginning of their green and sustainable finance journeys, have significant exposure to physical climate risks, and face greater inequality. As noted by the G20, implementing financial solutions to address the dual climate financing and sustainability gaps is necessary. By understanding their baseline, the FC4S annual assessment programme supports members ambition and supports targeted action.”

You can download a copy of the report here

For further information please contact:

Florencia Baldi, Head of FC4S & SIF Knowledge Hub at florencia.baldi@undp.org

Toronto, January 18, 2022 – A new report released by Toronto Finance International (TFI), the United Nations-convened Financial Centres for Sustainability (FC4S), and Deloitte Canada finds there is a need to address the growing gap between the current skills in sustainable finance and those that will be needed in the future.

“With Canada committing to net-zero greenhouse gas emissions by 2050, the demand for professionals skilled in environmental, social and governance (ESG) issues will continue to rise, but this demand is outpacing the current availability of talent,” says Jennifer Reynolds, President & CEO, Toronto Finance International (www.tfi.ca).

The report, Taking the lead in sustainable finance: A case for developing critical financial skills and competencies in Canada, surveys over 100 professionals in Canada’s financial services sector and finds Canada’s financial services sector is aware of the importance of having a workforce skilled in sustainable finance. For example, all survey respondents agreed that developing sustainable finance skills and talent within their organizations is important, while 90 percent indicated that sustainable finance is either already central to almost everything they do, becoming integral to much of what they do, or playing a growing role.

Concurrently, the report shows that ESG skills are scarce. Approximately two-thirds (68 percent) of respondents’ organizations are currently impacted by sustainable finance skills shortages. Of those experiencing skills shortages, 85 percent indicated the impact was moderate or significant to their organizations.

“With growing stakeholder pressure and regulatory expectations on the horizon, it will become increasingly difficult to meet the demand for sustainable finance skills with the current supply and pipeline of talent,” said Usha Sthankiya, Partner, Sustainable Finance & ESG, Deloitte Canada (www.deloitte.com/about). “Resolving this imbalance is essential to the future viability of the Canadian financial services sector and health of the Canadian economy.”

In addition, challenges exist with recruitment, as 43 percent of respondents experienced difficulties in recruiting experienced staff for sustainable finance roles, which can be multidisciplinary in nature spanning expertise in law, political science, business, environmental science, engineering and more. The recruitment challenge is why almost all (95 percent) respondents expect that existing employees will be upskilled to contribute to sustainable finance mandates. However, many organizations currently do not have any formal internal upskilling programs and are not aware of external training opportunities.

“The lack of sustainable finance skills extends beyond Canada – it’s an international challenge,” said Stephen Nolan, Managing Director of the FC4S Network (www.fc4s.org). “Addressing this talent gap is key to the success of the global financial services system’s climate transition and that’s why FC4S is pleased to support this critical work.”

The report proposes several recommendations to develop sustainable finance skills at a faster pace with each pillar of the ecosystem playing a key role:

• Financial services organizations should seek to better understand their current and future sustainable finance talent needs, plan to upskill their current employees accordingly and work with post-secondary institutions and industry associations to establish programs that are adaptive and responsive to the sector’s changing requirements.
  • Financial services organizations should also work with peers to publish a classification system, or taxonomy, of sustainable activities; a disclosure framework; and investment tools to provide consistency and comparability across sustainable finance. This will provide greater clarity around which specific sustainable-finance skills are required.
• Governmental and regulatory bodies should consider not only how to formulate policies to drive the transition to a low-carbon future but also how to provide funds for job creation, training and development, and support for upskilling.
• Post-secondary institutions – including universities, colleges, and technical institutes – should consider how to weave sustainable finance into their educational programs across a variety of disciplines. They should also integrate sustainable finance into professional education and continuous professional development courses and explore the development of micro-credentials to address the urgency.

“While some financial services institutions, professional training and education organizations are taking steps to close the sustainable finance talent gap, more needs to be done for Canada to harness its world-class financial sector to facilitate the transition to a low-carbon economy,” added Reynolds.

 

For media inquiries, please contact:

Sonia Prashar
Soniaprashar@sppublicrelations.com
T: 416.560.6753

In joining FC4S – a collective of international financial centres working together to achieve the UN’s Sustainable Development Goals (SDGs) and the Paris Agreement – Jersey becomes the 39th member, outlining its shared commitment to the deployment of private capital towards sustainable objectives.

Jersey has been a major centre for international financial services for 60 years, spanning wealth management, funds, capital markets and banking, and more recently the specialist areas of Islamic finance, fintech and philanthropy. The Island acts as an important cog in the global financial system, with 14,000 local highly skilled professionals helping to manage and administer more than £1.3 trillion of global assets.

Seeking to catalyse action within the finance industry in support of sustainable finance, in March 2021, Jersey Finance – the not-for-profit organisation responsible for representing and promoting Jersey’s financial services industry – launched a new dedicated initiative to reinforce Jersey’s credentials as a sustainable international financial centre. ‘Jersey for Good – A Sustainable Future’ outlines a long-term strategy and collective vision for the Island, as well as an initial two-year plan to accelerate Jersey’s journey towards a sustainable future.

Based on the work of Equilibrium Futures, headed up by Andrew Mitchell – a founding member of the Taskforce for Nature Related Financial Disclosures (TNFD) and a recognised expert in the field of sustainable finance – the strategy is a collaborative effort between members of Jersey’s finance industry, the Government of Jersey, and the Island’s regulator, the Jersey Financial Services Commission (JFSC).

Being admitted as a member of the FC4S network required Jersey Finance to participate in the FC4S Assessment Programme, that enables its members to evaluate how their institutional foundations, regulatory environment and market infrastructures align with a sustainable financial system, This provides them with a baseline of where they stand in terms of sustainability, helps them identify areas where more focus is required, and allows them to visualize mid-term goals and set priorities when developing a strategic approach to sustainable finance. It also enables financial centres to keep track of their progress on this agenda.

Commenting on Jersey’s admission to FC4S, Joe Moynihan, Chief Executive of Jersey Finance, said:

“We recognise that Jersey has a responsibility to leverage its expertise and capital to support the transition to an environmentally and socially sustainable global economy. As a dynamic, focussed IFC committed to good global citizenship, we have the power and the obligation to accelerate this journey and help create a brighter and sustainable future for all.

“Joining FC4S is an important step for Jersey. As well as being the leading network for sharing best practice among sustainable finance centres, the assessment framework developed by FC4S and its partners provides us with better visibility over our sustainable finance ecosystem and a benchmark to measure our progress in achieving our 2030 vision – for Jersey to be recognised by its clients, stakeholders and other key partners as the leading sustainable finance centre in the markets it serves. We look forward to the opportunities for cooperation and partnerships that membership of the FC4S network offers.”

Jersey’s addition to the FC4S network is the latest in a series of new collaborations with international bodies to support the scaling up of sustainable finance. At COP26, the JFSC was announced as the latest member of the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) – a global grouping of regulators and central banks that fosters climate action. This follows the introduction of new fund disclosure requirements to counter the risk of greenwashing, announced by Jersey’s regulator earlier this year. There is also further alignment with the Government of Jersey’s wider efforts to implement ambitious sustainable policies to address the climate emergency, as recognised at COP26 with the UK Government announcing its intention to extend the UK’s commitments under the Paris Agreement to Jersey and the other Crown Dependencies.

“FC4S is pleased to welcome Jersey Finance as a new member. Jersey has demonstrated a real commitment to a greener future by presenting alternatives to current practice, detailing a new vision and strategy to change, and evidencing that sustainable finance is key for both planet and people. With our network of international financial centres, Jersey will now have access to a suite of knowledge and data that outlines what’s worked and what hasn’t in jurisdictions from Rio de Janeiro to Nur-Sultan. Thus, giving it insight to best practices around the world.”, said Stephen Nolan, Managing Director of FC4S.

The APFF Sustainable Finance Development Network (SFDN) is a permanent landing platform for private-public sector collaboration to support the development of sustainable Finance in APEC Economies. Its focus is to ensure that key policy principles are considered, such as consistency and interoperability among jurisdictions, to minimize fragmentation, and to ensure APEC Economies’ concerns and interests are taken into account in global policymaking and framework development.

The SFDN is a network within the Asia-Pacific Financial Forum (APFF), a policy initiative of the APEC Finance Ministers, who entrusted its oversight to the APEC Business Advisory Council.

The ​UNDP Financial Centers for Sustainability (FC4S) Network, a collective of international financial centers that work to expand sustainable finance and help achieve the Sustainable Development Goals and the Paris Agreement, acts as the Secretariat of SFDN.

In 2020, the APEC Business Advisory Council (ABAC) proposed to APEC’s Finance Ministers the establishment of a platform for private-public sector collaboration to help accelerate the convergence of sustainable finance policies among APEC’s 21 member economies, while strengthening the region’s voice in the development of common global sustainability frameworks. That year, at their annual dialogue, APEC’s Finance Ministers welcomed ABAC’s proposal to establish the Sustainable Finance Development Network (SFDN) within the Asia-Pacific Financial Forum (APFF).

The SFDN’s focus is to address the major challenge facing the region today, which is the fragmented Sustainable Finance landscape and the lack of applicable and practical common standards that can guide lenders and investors in incentivizing companies and organizations, especially in Developing Economies and SMEs, to progressively transition to net-zero and align their practices with sustainable development goals.

The network acts as a Forum of Experts and it has been developed to support and align existing initiatives and stakeholders by means of the development of a consensus on a common work framework that looks at Sustainable Finance from a holistic and pragmatic perspective and categorizes the required action items into a series of building blocks and focus areas. The network is also meant to develop and encourage strong and efficient capacity-building governance structures, and to promote alignment and coordination of efforts for effective skills and knowledge development.

FC4S, in collaboration with the University of Zurich, is developing a groundbreaking analysis of the media coverage of 289 international sustainable finance initiatives in +550 articles from financial and business news media in 2020.

For the first time, this report will bring insights to the most covered aspects of this agenda internationally. FC4S will leverage the technical evidence to provide robust knowledge inputs to international organizations and forums in the future. 

The mapping and classification of initiatives will allow extracting information regarding current market priorities, as well as lagging topics and persistent barriers to mainstreaming sustainable finance globally. 

This preliminary descriptive analysis shows that: 

• 84% of the articles had a neutral tone, and the majority were regular news reports (80%), followed by commentary/opinion pieces (12%).
• In the sampled articles mentioning sustainable finance initiatives, climate-risk management frameworks, and climate pledges led the appearances in the news outlets in 2020.
• The most frequent topic among the sampled articles was “Sustainable Investment Products and Strategies” (with “Bonds, Loans and Credit-Financing” as the main sub-topic in about a third of the cases), followed by “Disclosure and Reporting” – and by a clear margin on third place “Capacity building”
• Regarding the depth of the news coverage on sustainable finance initiatives, two-thirds (63%) of the articles did not mention any goals of the initiatives, and only 13% covered their achievements. 

Future econometric analysis will be conducted to discover which features of sustainable finance initiatives are more efficient at making them more visible and attracting new partners, helping to accelerate the transformation of the financial system.

Discover more and download the deck. 

 

 

UN-convened Financial Centres for Sustainability (FC4S) was invited to attend the Asia-Pacific Financial Forum (APFF) 2021 China Conference, a high-level hybrid event held on October 14-15. 

The Asia-Pacific Financial Forum (APFF) is a platform for public-private collaboration to accelerate the development of robust and integrated financial markets in the APEC region. It responds to the need for active collaboration among policymakers, regulators and experts from industry and international and academic organizations to address key issues.

The Conference, co-organized by APFF, the China Chamber of International Commerce, the Chinese Academy of Fiscal Sciences and the Society of Public Finance of China, gathered senior representatives of major government, business, and academic institutions to discuss key issues to support the implementation of APEC Finance Ministers’ initiatives across APEC economies, and how collaboration can be strengthened to advance these efforts in the coming years. 

The theme of this year’s APFF was Collaboration Towards Inclusive and Innovative Financial Markets. Speeches and plenary sessions featured topics such as Carbon Neutrality, Green Finance, Digitalization of Finance, SME financing and inclusive Fintech, Credit Information System and Data Security. 

FC4S organized a panel discussion on Developing Robust Carbon Markets, where five experts from China, Mexico, and the US, moderated by our colleague Prajwal Baral, shared their views and work on carbon pricing instruments and market development, focusing on the role of MRV (Monitoring, Reporting, Verification) in ETS building. 

Some key takeaways from this high-level two-day conference:

• Green Finance: a comprehensive market infrastructure, efficient financial intermediaries and a wide spectrum of financial products are essential to develop green finance in APEC economies, as pointed out by Mr. Hiroshi Nakaso, APFF Chairman and former Deputy Governor of Japan central bank. Mr Nakaso highlighted the significance of transition finance, the crucial roles of banks, and the flexibility of standards to allow better adaption in different economies. 
• Carbon Market Development: Experts recognised that different economic development stages might shape how to develop carbon pricing mechanisms, instruments, and infrastructure, but also recommended that setting up clear targets and ensuring transparency of price mechanism of Carbon Exchanges is beneficial. On the closed-door panel discussion supported by FC4S, sectoral specialists highlighted the role of MRV (Monitoring, Reporting, Verification) in ETS building. 
• Macro-economy and green recovery from COVID19: Economists from Japan and China agreed on the importance of stimulating domestic demand and focusing on the supply-side economy. Yang Weimin, Deputy Director of Economic Committee of CPPCC National Committee, suggested that adjusting the national income distribution, especially levelling up the household consumption in the distribution, could be the main boost for sustainable economic growth. 

 

The COP26 offers a space for dialogue where cities, governments, civil society, and companies propose a transformation agenda to make the Paris Agreement operational and concretely demonstrate their collective commitment to mitigate emissions and build resilience throughout the planet. 

Preparing for a successful COP26 requires the participation of Financial Centres, which are natural nodes to pilot the transition towards a sustainable financial system, due to the clustering of financial activities and finance professional services and institutions, as well as their convening power among public and private market actors. 

For this reason, and within the framework of the Climate Finance Week Ireland, UN-convened Financial Centres for Sustainability (FC4S) organized a public webinar in association with the World Alliance of International Financial Centers (WAIFC) on: “Financial Centres on the road to COP26“.

The event focused on the Sustainable Finance Agenda within Financial Centres, their advances on aligning their portfolios with the zero-carbon transition, and the Paris Alignment, to precede and enrich the COP26 discussions.

On this occasion, Emmanuel Etaderhi, Senior Vice President at FMDQ Group and Executive Secretary, Financial Centre for Sustainability, Lagos; Jennifer Reynolds, President & CEO at Toronto Finance International and Co-Chair of UN-convened Financial Centres for Sustainability (FC4S); Jochen Biedermann, Managing Director at the World Alliance of International Financial Centers (WAIFC) and Founder & CEO Blockchain (Asia) Ltd; Stephen Nolan, Managing Director, UN-convened Financial Centres for Sustainability (FC4S) & Head of Secretariat Sustainable Insurance Forum (SIF); Zahra Abdel, Deputy Managing Director of Stuttgart Financial; and Zalina Shamsudin FCCA, General Manager for Capital Markets Malaysia (CMM); shared best practices to encourage innovative financial mechanisms to facilitate the transition to a sustainable economy. 

Thank you to everyone who participated! In this link you can watch the recording. 

 

 

This week we concluded the series of webinars on “Methodologies and tools for Paris Alignment”. 

The webinars have been a success. In FC4S, we are convinced that targeted financial sector representatives must constantly update their training and keep informed of the avant-garde tools to work towards the Paris Agreement, and zero-carbon transition.

Therefore, we want to thank everyone who attended; and the exhibitors of each meeting. It was truly an honor to have your attendance and the possibility to exchange best practices with you.

The organization of this series emerged from the development of a paper in collaboration with the Coalition of Finance Ministers for Climate Action, named “Paris Alignment for Private Financial Institutions: Commitments and Methodologies”.  You can read the key findings here. 

This research showed that sustainable finance initiatives have quintupled in the last decade, and climate change is still their main focus of attention. Groups of financial institutions have likewise collectively stepped up worldwide to advance on aligning their portfolios with the zero-carbon transition.

As yet, they have increasingly been working towards Paris alignment through commitments and pledges, mostly through internationally convened networks. Although commitments on Paris alignment are a fundamental step towards decarbonizing portfolios and balance sheets, the operationalization of commitments remains challenging.

If you were unable to attend, we invite you to relive the webinars:

 

1st Workshop – Introduction &  PCAF overview (Presentation)

 

– September 22^nd at 17h CET (West time) 

– September 23^rd 10h CET (East time)

 

2nd Workshop – PACTA overview (Presentation)

 

– September 29^th at 17h CET (West time) 

– September 30^th at 10h CET (East time) 

 

3rd Workshop – SBTi overview (Presentation)

 

– October 4^th at 17h CET (West time)

– October 7^th at 10h CET (East time)

 

Recognizing that issues related to sustainability are underpinning to better risk management practices in financial institutions, the Financial Centres for Sustainability (FC4S) Network launched the Sustainable Finance Market Update. In the run-up to COP26, 1st – 12th November, the aim of this series is to provide a review of the main market developments to mobilize green and sustainable finance and bring examples of supporting national and international guidance and regulations.

This series of decks reviews the main market developments to mobilize green and sustainable finance and brings examples of supporting national and international guidance and regulations.

Market Infrastructure

The first edition consists of a review of the existing Market Infrastructure supporting sustainable finance activities, including the frameworks and market trends in disclosure and reporting, ESG service providers, challenges and opportunities of data quality, and relevant taxonomies. It also provides an overview of 20 tools that quantify and measure different aspects of companies’ ESG impact.

• English
• Spanish
• Chinese

Institutional Investors

The second edition is about Institutional Investors and how these are actively contributing to the greening of financial markets.  Institutional investors have the incentives to address and mitigate long-term climate-related risks, particularly pension funds and other long-term-focused investors who cannot easily diversify out of global risks such as climate change and thus have an inherent incentive to address them.

• English
• Spanish
• Chinese

Banking

The third edition is about how the banking industry is integrating ESG factors into its strategies, increasingly implementing risk management frameworks, and mobilizing capital to meet global sustainability goals.

• English
• Spanish

Capital Markets

The fourth edition is about Capital Markets and how financial materiality of environmental and climate risks is prompting several stock exchanges to require disclosure of ESG information. The number of ESG ETFs and the volume of ESG AuM worldwide have been growing fast. Despite its growth, ESG ETFS share of total ETF markets is still small and concentrated in developed countries.

• English
• Spanish

Insurance Providers 

The fifth edition is about how the insurance sector has integrated ESG factors into its reporting, increasingly implemented risk management frameworks, and mobilized capital to meet global sustainability goals.

• English
• Spanish