Amid Growing Momentum, UN and World Bank Lay Out Roadmap for Sustainable Financial System

Jay OwenReforming Global Finance, Beyond GDP

Today the UN Environment-World Bank Group Roadmap for a Sustainable Financial System report was launched at COP23 in Bonn, Germany at the Fiji Pavilion. It is aimed at helping governments and the private sector design a global financial system that is fit-for-purpose in the era of sustainable development.

The roadmap sets out how to create a financial system that integrates sustainability considerations into its operations, leading to resources flowing toward more inclusive and sustainable activities. It proposes an integrated approach that can be used by all financial sector stakeholders, bringing policy cohesiveness across ministries, central banks, financial regulators, and private financial sector participants.

It also lays out a timetable of these steps, including in the areas of products, information and technology; business models, capabilities and incentives; national public policy actions and roadmaps; global coordination principles; and results measurement.

The executive summary is available here and the full report is available here.

The press release is also worth your time.

Last but not least we’d just like to remind everyone that after today we’ll be launching another 3 reports, so keep an eye out for them!

  1. Singapore as a Green Finance Hub for ASEAN and Asia – a collaboration with the Singapore Institute for International Affairs on the request of the Monetary Authority of Singapore – 15 November launch
  2. ASEAN Green Finance Opportunities – a collaboration with the DBS Bank, the first quantification of the green finance opportunities across the region – 15 November launch
  3. China Green Finance Progress Report – a collaboration with the Central University for Finance and Economics in Beijing, the first published review of progress in China on green finance set against the State Council’s 35 recommendations on green finance adopted in August 2016 – 16 November launch

More information and updates here.