United Nations Environment Programme environment for development

New Report Shows How India Can Scale up Sustainable Finance

Mumbai, 29 April 2016 - India has set ambitious goals for inclusive and sustainable development, which require the mobilization of additional low-cost, long-term capital. A new report launched today by the United Nations Environment Programme (UNEP) and the Federation of Indian Chambers of Commerce and Industry (FICCI) shows how the country is already introducing innovative approaches to attract private capital for green assets - and outlines a number of key steps to deepen this process in India.

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About Us

FI About Us Title

Mobilizing the world’s capital is essential for the transition to a sustainable, low-carbon economy. Today, however, too little capital is supporting the transition, and too much continues to be invested in a high-carbon and resource-intensive, polluting economy.

About Us

Mobilizing the world’s capital is essential for the transition to a sustainable, low-carbon economy. Today, however, too little capital is supporting the transition, and too much continues to be invested in a high-carbon and resource-intensive, polluting economy.

Market participants and others recognize that prevailing rules and incentives governing financial markets can disadvantage long-term, sustainable behavior. Long-term environmental risks are not being effectively counted and green opportunities are inadequately valued. Such distortions can lead to a misallocation of capital and a danger of systemic risks to the economy and the natural environment.

There is an urgent need to accelerate the transition to a green economy by better aligning the financial system to the resilience and the long-term success of the real economy. The UNEP Inquiry is intended to support such actions by identifying best practice, and exploring financial market policy and regulatory innovations that would support the development of a green financial system.

 

The Inquiry will produce a final options report as well as technical papers throughout its 18-24 month life from January 2014. It will map current best practice, draw together principles and frameworks, catalyze new thinking, and ultimately lay out a series of options for advancing a green financial system. Engagement will take place with a wide range of policy institutions, initiatives focused on green finance and financial market reform, and practitioners across the financial sector and the wider business community, as well as civil society and other actors concerned with the green economy and financial markets.

The Inquiry's current set up phase will ensure it is designed with guidance from practitioners and experts, and establish a network of world-class advisors and researchers. Engaging with existing initiatives will ensure that it can effectively convene and catalyze broad debate that supports the crystallization of options for advancing a more systematic approach to developing a green financial system.

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Publications

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New FI - Publications homepage - inquiry

New FI - Publications homepage - inquiry_reports

New FI - Publications homepage - inquiry

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Events

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London (United Kingdom)
Thursday, January 14, 2016


Washington, DC (United States)
Friday, January 15, 2016


Lima (Peru)
Thursday, October 8, 2015


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Country Engagement

National Engagements

Policy innovation for a sustainable financial system is taking place primarily at the country level, and the Inquiry wants to understand the driving imperatives behind innovations in specific locations, the lessons emerging and the potential for further developments. The Inquiry has now undertaken advanced work with national institutions and partners, focusing initially on Bangladesh, Brazil, China, the EU, India, Indonesia, South Africa, Uganda, the UK and the USA. This work will be critical to root the Inquiry’s thinking in the diversity of country realities and needs. Some highlights from the current work include:

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Discussions are underway with ETB on collaboration with PAGE countries (Mauritius, Mongolia, and Peru). Initial work in South Africa has already begun, with the Inquiry teaming with the Global Green Growth Institute. Initial engagement will begin in early September for Uganda, which has requested assistance with its Green Growth strategy. Work has also begun with Colombia, who will work with the IFC. Additional countries (Morocco, Singapore, Malaysia) will be included contingent on budget.

The Advisory Council

Guiding the Inquiry

Blog

22 April 2016, Earth Day – Stop Press – Calls to Reset Financial System in Pursuit of Sustainable Development (22 April 2016)

The IMF Spring Meetings last week was a red-letter week in progressing The Financial System We Need. Yes, it was a week when the UNEP Inquiry’s core messages went mainstream in style.

It was the week when Hank Paulson, ex-head of US Treasury with Governor of China’s Central Bank, Zhou Xiaochuan, got together at an event co-hosted by the UNEP Inquiry and the Paulson Institute and declared to an assembly of financial market heavyweights that green finance is critical to our collective futures and core to the development of tomorrow’s financial system.

Greening the Trillions (21 April 2016)

What a difference a year makes. Just twelve months ago, the question of how the world’s US$315 trillion financial system should evolve to respond to the pressing challenge of environmental sustainability was still a minority sport. Last week in Washington, as finance ministers and central bank governors gathered to explore once again how to boost the global economy, a new dimension had entered the equation: green finance.

Zhou Xiaochuan Pushes Green Finance at G20 Meeting (18 April 2016)

Governor of China's Central Bank Zhou Xiaochuan has stressed that green finance is a key agenda pushed by China this year and that the financial system should play an imperative role in the transition to a green economy.

The Chinese central banker made the statement while attending the G20 Finance Ministers and Central Bank governors' meeting in Washington. Under the Chinese Presidency, G20 launched the Green Finance Study Group to mobilize private capital for green investments.

How China, as Head of the G20, Is Spearheading a Global Green Finance Push (30 March 2016)

‘Mr. Green Finance’, who could be a character in a reboot of the 1990s Tarantino hit Reservoir Dogs, is the nickname of Dr. Ma Jun, Chief Economist of the People’s Bank of China (PBOC), the country’s central bank and financial regulator.

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UNEP Inquiry

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Geneva, Switzerland
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icon 3www.unep.org/inquiry