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The Financial System We Need

Aligning the Financial System with Sustainable Development

image of The Financial System We Need

The Financial System We Need argues that there is now a historic opportunity to shape a financial system that can more effectively finance the development of an inclusive, green economy. This opportunity is based on a growing trend in policy innovation from central banks, financial regulators and standard setters, who are incorporating sustainability factors into the rules that govern the financial system. The report draws together practical examples of policy changes in banking, capital markets, insurance and institutional investment, drawing on detailed work in countries such as Bangladesh, Brazil, China, Colombia, France, India, Indonesia, Kenya, South Africa, the UK and the USA. It offers a Framework for Action that shows how a systematic approach can now be taken at both the national and international levels. - See more at: http://unepinquiry.org/publication/inquiry-global-report-the-financial-system-we-need/#sthash.H7k5isab.dpuf

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Framework for analysis

Financing sustainable development will require capital flows to be redirected towards critical priorities and away from polluting and unsustainable, natural resource intensive activities. However, there is currently no commonly agreed basis for assessing financing needs for sustainable development. Many efforts have been made to estimate specific financing needs, most recently in the context of the UN Financing for Development conference. A range of estimates exist for different aspects of the financing challenge, notably access to energy, biodiversity, climate change, food security, water and sanitation.

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