Following the success of a new global climate agreement at COP21 in Paris, attention is now focusing on practical measures to mobilise the trillions necessary to deliver the transition to a low-carbon, green economy.
This year holds out the promise of being the “year of green finance”. China has established a Green Finance Study Group in the G20 to be co-chaired by the People’s Bank of China and the Bank of England, with UNEP acting as secretariat. Many other countries are driving forward progress at national and global scales.
The United Nations Environment Programme’s Inquiry into the Design of a Sustainable Financial System (UNEP Inquiry) is organizing two events in London and Washington D.C. to discuss its findings and the historic opportunities going forward.
Senior policy makers and economists from the Bank of England, China and the City are meeting on Thursday this week to discuss ways to ensure that 2016 is “the year of Green Finance”.
Peer-peer investment firm Abundance has supported 16 projects and raised nearly £15m in Green Finance from individual investors from the UK and Europe.
Bruce Davis, Cofounder and Joint Managing Director, who is attending the conference said: “When the leaders of 195 countries stand up and put their name to an agreement to make renewable energy the dominant energy source for the world, the world of finance wakes up.
“Abundance was a pioneer of the Green Finance revolution which last year saw the launch of the world’s first 100% renewable energy pension and this year will see Green Finance being raised via the Innovative Finance ISA. Green Finance is a ‘win win’, economically and environmentally. Let’s hope that the UK government follows the lead of the City and wakes up to the opportunity to rebalance the UK economy, drive sustainable exports and diversify our money into productive investments.”