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The current crisis has shifted public focus away from the climate emergency to the immediate need to protect people and jobs. It has highlighted inequalities and vulnerabilities in supply chains and exposed the precariousness of gig economy. At the same time, the climate emergency and biodiversity crisis cannot wait. Clearly, governments cannot tackle all these challenges alone. There is an urgent need to engage businesses, investors and civil society to work collectively to address these challenges and ensure to build back better.
The finance sector has an important role in driving responsible and sustainable business. Its different actors – from regulators to asset owners, investors, and banks – all have a role to play in creating a financial ecosystem that accurately prices risk and rewards long-term sustainability and helps direct funds to sustainable purposes, thus supporting the move towards a more sustainable recovery pathway. Investors and banks have critical roles to play in this regard, both through how they allocate capital and prompting corporations to manage environment, social and governance (ESG) challenges and opportunities.
This session will discuss the role of the finance sector in driving more responsible business practices and investments, in support of a more sustainable recovery. It will hear what banks and responsible investors, including institutional investors are doing in that regard, and discuss how government can help drive the change towards more integration of ESG criteria in investment and financing decisions, to push more ambitious action of companies, including as regards climate change.
This session aims to discuss the role of investors and banks in driving a sustainable and inclusive recovery, and how governments can support this transformation.
What actions can investors and banks take to support a sustainable and inclusive post-COVID recovery?
How can sustainable finance principles (e.g. Principles for Responsible Investment, Principles for Responsible Banking, etc.) and green financial instruments such as green bonds and green loans support financial institutions to advance responsible business practices?
What role does ESG reporting play, climate and SDG alignment, and forward-looking assessment play in this regard?
What are some emerging best practices from the region?