Countries are increasingly taking more strategic approaches to scaling sustainable finance, often in the form of sustainable finance “roadmaps” that help prioritize actions and coordinate activities among stakeholders to transition towards a low-carbon, resilient and inclusive economy.
Since January 2022, the Green Finance Platform, through the Global Environment Facility-funded Aligning the financial system and infrastructure investments with sustainable development - a transformational approach project, is working with six countries – China, India, Kazakhstan, Mexico, Mongolia and Nigeria – to progress their sustainable finance roadmaps. The Green Finance Platform is collaborating with country-level stakeholders and the broader sustainable finance community to translate the roadmaps into engagement and implementation. This includes helping to realign financial systems with the UN Sustainable Development Goals (SDGs) and develop national regulatory actions.
“This year will be marked by climate finance leadership shaped by the Global South, with key meetings taking place in Africa and Indonesia chairing the G20 group” says Camille Andre, Manager of the Green Finance Platform. "The six roadmaps are very timely in calling for ambitious interventions and international coordination to support an orderly and just transition towards a transformational approach to economic and financial policy action”.
Each roadmap has a unique sustainable finance focus, tailored to the country’s financial system priorities and needs.
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Environmental Disclosure in the Banking Sector of China: Practices and Experience |
Country Strategy for Green Inclusive Micro Enterprises Financing |
Introduction of ESG disclosure reporting in AIFC: Design of an ESG reporting framework |
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Climate and Environmental Risks and Opportunities in Mexico’s Financial System – From Diagnosis to Action |
ESG & Sustainability Reporting Guidance for Mongolian Companies |
Nigeria Green Tagging Banking Review |
In the coming months, the Green Finance Platform will coordinate with national and global financial actors to start the conversation on these roadmaps. Stakeholders will engage through webinars and blog posts, which will feed into dialogues. Experts will be able to provide input via an online, interactive sustainable finance community discussion on the Green Forum. A Sustainable Finance Roadmap Diagnostic Toolkit connected to the Green Finance Platform’s Green Finance Measures Database will help other countries develop their own national sustainable finance status reports – the first step towards developing a national sustainable finance roadmap.
The Global Environment Facility and UNEP Inquiry into the Design of a Sustainable Financial System launched the GEF Aligning Finance Policies project in 2018. The project has since focused on the development of the national Sustainable Finance Roadmaps in six countries, with the aim of building international consensus on best practices to green the financial system.
The Aligning Finance Policies project’s roadmap updates, upcoming events, op-eds and other content can be found on the recently launched Aligning Finance Policies website. Updates can be sent directly to one’s inbox by subscribing to the Green Finance Platform newsletter.
For inquiries related to this project, please email [email protected].
About the Green Finance Platform
The Green Finance Platform, one of three knowledge platforms of the Green Growth Knowledge Partnership (GGKP), provides a clearinghouse of market, policy and regulatory innovations driving the green transformation. It focuses on sustainable finance principles, practices and protocols for banking, investment and insurance. Find out more at www.greenfinanceplatform.org.