UNDP’s Financial Centres for Sustainability (FC4S) Network launches Gender Finance Charter to advance gender equality in sustainable finance.

Sep 27, 2023

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Dublin, 26 September 2023 – United Nations Development Programme's (UNDP) Financial Centres for Sustainability (FC4S) Network announced the launch of a ground-breaking Gender Finance Charter in its Annual General Meeting today. To date, 21 financial centres have pledged their support and pledged to take concrete actions throughout 2024 for advancing gender equality in the realm of sustainable finance.

Marcos Neto, Director UNDP Sustainable Finance Hub said:

“On our journey towards sustainable finance and a more equitable world, the Gender Finance Charter serves as a foundational instrument, deepening UNDP’s Financial Centres for Sustainability (FC4S) Network work on the path to sustainable and more equitable finance. It not only encapsulates our core values but is also a powerful tool for transformation towards gender-responsive sustainable finance.”

The Gender Finance Charter defines ten fundamental principles which offer a pragmatic and actionable framework, encouraging member financial centres to implement a minimum of two principles through tailored action plans or initiatives within the next year. These principles encourage to lead by example, fostering gender equality and diversity within their organizations and become champions of financial education as a potent means to empower women.

Moreover, these principles inspire financial centres to champion women’s leadership and representation across their ecosystems and prioritize transparency in gender performance, provide guidance for the establishment of gender-related targets and advocate for the development and adoption of gender-responsive financial products and practices. Simultaneously, they are resolute in their commitment to enhancing women’s access to finance, focusing on women-owned and women-led businesses.

Minister Jennifer Carroll MacNeill TD, Minister of State at the Department of Finance of Ireland said:

“This Gender Finance Charter is of global significance in financial services and I am delighted that it is being launched here in Dublin. It has the potential to significantly advance gender equality, not just in financial services, but more broadly across the globe.

“I want to congratulate the representatives from over 40 financial centres around the world for demonstrating true leadership in being here to sign up and commit to the Charter. On behalf of the Government of Ireland, I want to commend FC4S for spearheading this initiative.”

In conjunction with the Gender Finance Charter, the UNDP’s FC4S Gender Working Group is working in partnership with UN Women on a co-branded Gender Finance Booklet. The Gender Finance Booklet will be a comprehensive resource that equips all FC4S members with the necessary tools and guidance for effective implementation of the Gender Finance Charter’s principles.

Kali Taylor, Community Manager of Sustainable Finance Geneva and Gender Working Group Chair said:

"Gender has been a priority of the Geneva financial centre since 2021, so we are thrilled to join this broader movement of financial centres committing to this important topic. We see this as an excellent opportunity to learn from our peers, collaborate, and push for gender equality in Geneva and globally."

Among the list of endorsers of the Gender Charter are Abu Dhabi Global Market, Astana International Financial Centre, Barcelona Centre Financer Europeu, Capital Markets Malaysia, Casablanca Finance City Authority, Consejo Mexicano de Finanzas Sostenibles, ESGeneration Italy, FC4S Lagos, Finance Montréal, Hong Kong Green Finance Association, International Sustainable Finance Centre of Excellence, Laboratório de Inovação Financeira, Liechtenstein Bankers Association, Luxembourg Sustainable Finance Initiative, Mongolian Sustainable Finance Association, Nairobi International Financial Centre, Kigali International Financial Centre, Stockholm Green FinTech, Sustainable Finance Geneva, Green and Sustainable Finance Cluster Germany and We Are Guernsey.

The UNDP’s FC4S Secretariat will conduct a comprehensive survey by the end of 2024 to assess the progress and collective impact achieved by endorsing financial centres. Additionally, it will provide ongoing support to its members in implementing the selected principles of the Charter through capacity-building activities based on the 10 principles outlined in the Charter.

ENDS

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 @UNDP_SDGFinance

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 @FC4Snetwork

The FC4S members include:

Abidjan – Ministry of Economy and Finance, Abu Dhabi - Abu Dhabi Global Market,

Astana - Astana International Financial Centre, Barcelona - Barcelona Centre Financer Europeu for Sustainability, Beijing - Institute of Finance and Sustainability, Busan - Busan Finance Centre, Cairo - Financial Regulatory Authority, Casablanca - Casablanca Finance City,

Dublin - International Sustainable Finance Centre of Excellence, Edinburgh - Global Ethical Finance Initiative, Frankfurt - Green and Sustainable Finance Cluster Germany, Geneva - Sustainable Finance Geneva, Glasgow - Global Ethical Finance Initiative, Guernsey - Guernsey Green Finance, Gujarat - International Financial Services Centres Authority,

Hong Kong - Hong Kong Green Finance Association, Jersey - Jersey Finance,

Kuala Lumpur - Capital Markets Malaysia, Lagos - The Financial Centre for Sustainability, Liechtenstein - Liechtenstein Bankers Association, Lisbon - Grupo de Reflexão para o Financiamento Sustentável, London - City of London Corporation, Luxembourg - The Luxembourg Sustainable Finance Initiative, Madrid - The Spanish Centre for Responsible and Sustainable Finance, Mexico - Mexican Council of Sustainable Finance, Milan - ESGeneration Italy, Mongolia - The Mongolian Sustainable Finance Association, Montréal - Finance Montréal,

Nairobi - Nairobi International Finance Centre Authority, New York - U.S. Alliance for Sustainable Finance, Paris - Institut De La Finance Durable, Rio de Janeiro - The Laboratory of Financial Innovation, Rwanda - Kigali International Financial Centre, Seoul - Seoul Metropolitan Government, Shanghai - Lujiazui Financial City Green Finance Development Center, Shenzhen - Shenzhen Green Finance Committee, Stockholm - Stockholm Green Digital Finance, Stuttgart - Stuttgart Financial, Tokyo - FinCity.Tokyo, Zurich - Swiss Sustainable Finance