International Meeting of Financial Centers for Sustainability

At the first ever international meeting of financial centers over 10 of the world’s leading financial centers agreed to promote strategic action on green and sustainable finance. The financial centers – including Astana, Casablanca, Dublin, Hong Kong, Milan, London, Luxembourg, Milan, Paris, Qatar, Shanghai and Stockholm – backed the Casablanca Statement, agreeing to harness their expertise to drive action on climate change and sustainable development.

Financial centres are key locations in the economy where banking, investment and insurance markets are concentrated. A growing number of financial centres have introduced dedicated green and sustainable initiatives to seize this opportunity. The 2017 G7 in Italy also identified the potential for cooperation among financial centres through a new international network. By supporting the Casablanca Statement, the financial centres have agreed to launch the international network of financial centres for sustainability. This network will aim to raise awareness, promote common standards, drive innovation and build the vital skills needed for the expansion of green and sustainable finance.

The meeting was hosted by the Casablanca Finance City Authority (CFCA) and the UN Environment Inquiry into the Design of a Sustainable Financial System, working in association with Italy’s Ministry of the Environment and Morocco’s presidency of the COP22 climate conference.