UNDP FC4S Network releases results of its Assessment Programme (AP) 2023, evaluating the state of sustainable finance in international financial centres.
Dubai, 4 December 2023: UNDP FC4S Network, a global platform of financial centres working to accelerate the expansion of sustainable finance, released results of its Assessment Programme (AP) 2023 at COP28 today. The AP is the first initiative of its kind that assesses the progress and potential of financial centres in aligning their activities with the Sustainable Development Goals (SDGs) and the Paris Agreement. Its 2023 results reveal five key insights that can inform the actions and strategies of financial centres and their stakeholders to advance sustainable finance.
This includes aligning the persisting challenges of non-financial data quality and availability to facilitate a cohesive and consistent approach to sustainability disclosure, further bridging the funding gap for sustainable development; prioritising the co-creation of an enabling environment in financial policies and regulations, within the jurisdictions of financial centres, designed to effectively mitigate sustainability risks and promote the inflow of sustainable capital; minding the educational gap by sharing expertise to uplift struggling regions and foster a more sustainable and inclusive financial landscape worldwide; the prospect of continued growth in the sustainable debt market, and the role of stock exchanges in developing the market, especially in developing economies; the role of market participants, such as banks, asset owners, asset managers, and insurers, in transforming the financial system by making commitments and allocating capital to sustainable finance, and the need for viable investment opportunities and innovative financing mechanisms.
The AP 2023 results are based on a survey of 26 financial centres, representing a diverse range of regions, income levels and financial market sizes. The FC4S Network aims to leverage the role of financial centres in mobilizing the financial resources and innovation needed to achieve the SDGs and the Paris Agreement.
The full report is available at https://bit.ly/3R9WmDc while the document summary can be accessed at https://bit.ly/4a4nZ9u
About UNDP FC4S Network:
The UNDP’s Financial Centres for Sustainability (FC4S) Network is a global network of 40 financial centres, working together to achieve the objectives set by the 2030 Agenda and the Paris Agreement. FC4S is hosted by UNDP’s Sustainable Finance Hub.
Learn more at fc4s.org or follow us on LinkedIn at UNDP Financial Centres for Sustainability (FC4S)
About UNDP SFH:
The UNDP Sustainable Finance Hub brings together UNDP’s financial expertise to harness public and private capital for the Sustainable Development Goals (SDGs)- supporting governments, investors and businesses in reaching climate, social impact and sustainability targets. Its work drives systemic change towards a sustainable financial architecture that benefits people and the planet.
Find out more about its integrated services that ensure all finance is sustainable, at sdgfinance.undp.org or follow at @UNDP_SDGFinance
PRESS CONTACT:
Ayesha Babar
Strategic Coordination and Communications Specialist, UNDP Sustainable Finance Hub
