Why do we need an international platform on sustainable finance?
Climate change poses global challenges. Massive investments will be needed to transit to a low carbon economy. Public funding is vital for the transition but it will not be enough. A substantial part of the financial flows will have to come from the private sector. Trillions of investments will be needed in sustainable infrastructure over the next decadesto reach the Paris Agreement commitments. The global nature of financial markets offers great potential in terms of helping countries on their transition path, by linking local financing needs to global sources of funding.
Many jurisdictions around the world have started developing environmentally sustainable finance tools to mobilise their financial sectors but action at national level will not be enough. We need greater international cooperation to better join up our efforts to scale up environmentally sustainable finance globally and promote the integration of markets for green financial products at international scale. To this end, the IPSF will act as a forum for facilitating exchanges and, where relevant, coordinating efforts on initiatives and approaches to environmentally sustainable finance, while respecting national and regional contexts.
The IPSF is part of the European Commission's ongoing work to support a global transition to a low-carbon, more resource-efficient and sustainable economy. (...)
Climate change poses global challenges. Massive investments will be needed to transit to a low carbon economy. Public funding is vital for the transition but it will not be enough. A substantial part of the financial flows will have to come from the private sector. Trillions of investments will be needed in sustainable infrastructure over the next decadesto reach the Paris Agreement commitments. The global nature of financial markets offers great potential in terms of helping countries on their transition path, by linking local financing needs to global sources of funding.
Many jurisdictions around the world have started developing environmentally sustainable finance tools to mobilise their financial sectors but action at national level will not be enough. We need greater international cooperation to better join up our efforts to scale up environmentally sustainable finance globally and promote the integration of markets for green financial products at international scale. To this end, the IPSF will act as a forum for facilitating exchanges and, where relevant, coordinating efforts on initiatives and approaches to environmentally sustainable finance, while respecting national and regional contexts.
The IPSF is part of the European Commission's ongoing work to support a global transition to a low-carbon, more resource-efficient and sustainable economy. (...)
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