Context
Emerging markets and developing economies (EMDEs) have set ambitious targets, aligned with the United Nation’s Sustainable Development Goals (SDGs), climate change, and biodiversity. Shifting towards sustainable and climate-sensitive economic and financial systems is crucial for achieving these goals, especially in attracting private capital. This is particularly relevant for countries vulnerable to climate and nature crises, which often face limitations in financial resources and capabilities. In addition, there is a pressing need for more systematic coordination and joint efforts towards achieving sustainability.
Advancing this transformation requires strong policy and regulatory frameworks, capacity development across public and private domains, and global dialogue to ensure reforms align with both national priorities and international standards to maximise interoperability.
Objective
The transformation towards a more sustainable economy and financial sector is moving forward, grounded in international standards and global agendas.
Approach
The global project supports sustainable finance and the sustainable transformation of the real economy in three main areas of intervention:
- Supporting development of policy and regulatory frameworks in partner countries governing the transformation of the economy and the finance industry, such as sustainable finance taxonomies or disclosure standards
- Providing advisory services and technical assistance to embed sustainability in governance and financial decision-making of financial institutions
- Fostering global knowledge exchange and peer-learning regarding the sustainable transformation of the economy and the finance industry
Collaboration occurs with several international networks and partners, including the Sustainable Banking and Finance Network, UNEP Finance Initiative, IPC Consulting, Climate Bonds Initiative, and the Chartered Banker Institute.
Additionally, the European Commission provides cofinancing to the global project.
Last update: January 2024