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What role can finance play in the green recovery? EIT Climate-KIC and UNEP Finance Initiative ask leading thinkers to weigh in

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EIT Climate-KIC, in partnership with the UNEP Finance Initiative, is releasing Aligning finance for the net-zero economy: New ideas from leading thinkers, a series of papers that will contribute to the debate on how financial institutions can support a just transition to a net-zero emissions economy by 2050.

Stakeholders in financial markets, capital and investment are key players in tackling climate change, supporting solutions for climate adaptation, and reducing global greenhouse gas emissions.

 

But to enable our economy and society’s transition to net-zero, finance requires a fundamental overhaul. Financial portfolios, for instance, need to align with a well below 2-degrees emissions pathway, incentivising green growth, sustainable development, and systems transformation.

 

Produced and supported by EIT Climate-KIC, in partnership with UNEP Finance Initiative (UNEP FI), the series "Aligning finance for the net-zero economy: New ideas from leading thinkers" aims to inspire financial actors to move from climate risk disclosure to alignment.

 

The series delves into current assumptions around alignment with climate frameworks such as the Paris Agreement and the UN Sustainable Development Goals, and develops ideas for how alignment can best be achieved.

 

“EIT Climate-KIC has supported innovation to mainstream climate in financial markets, democratise climate risk information, and foster bankable green assets for ten years,” says Kirsten Dunlop, CEO of EIT Climate-KIC.

 

“We are committed to the transformation of core finance to deliver a regenerative, low-emissions economy and sustainable society. Against the backdrop of economic crisis, the inexorable onset of climate emergency and geopolitical fragmentation, financial institutions have an unprecedented opportunity and a responsibility to provide the leadership, investment stimulus and risk mitigation needed for transformation.

 

We are honoured to partner with UNEP FI to provide food for thought as to why and how this might be done.”

 

Read the full article here.