Green finance progress report
The G20 and other nations have taken huge strides over the last year towards mobilizing the trillions of dollars of public and private capital needed to make sustainable development and climate action a reality, according to new UN Environment research. UN Conference on Trade and Development research from 2015 showed that the investment required to bring sustainable development in developing countries was short US$2.5 trillion each year, with as much as ten times that needed globally in the years to come – mainly from private sources. However, the UN Environment Inquiry into the Design of a Sustainable Financial System’s Green Finance Progress Report – a contribution to the G20’s Green Finance Study Group (GFSG) – finds dozens of encouraging policies and financial product developments that show the public and private sectors are serious about changing this trend. The world has committed to creating a better future for people and planet. But we will not be able to achieve our sustainable vision without the global financial system using its capital to fuel the transformation. This new research from UN Environment, a contribution to the G20 Green Finance Study Group, shows encouraging progress in this regard. From a record number of new green finance measures to ambitious plans for green finance hubs, we are seeing the smart money move to green financing.