On the occasion of Climate Finance Day and the One Planet Summit, Finance for Tomorrow hosted the meeting of the Network of Financial Centers for Sustainable Development in Paris. Five new members joined the network: Frankfurt, Geneva, Shenzhen, Toronto and Zurich. This meeting also served to make a point of progress on the strategy of the network launched in September 2017 with the Casablanca Declaration, under the Italian Presidency of the G7 and the United Nations Environment Program (UNEP).
This meeting was also the occasion to present two reports published within the framework of the Network of the Financial Centers for Sustainable Development:
- “Accelerating Action of Financial Centers on sustainable development” by UNEP. This report presents the main lines for the strategic action of financial centers for sustainable development on a global scale. It also describes the purpose and planned activities of the new network, which builds on the work undertaken under the Italian G7 Presidency in 2017.
- “Green Financial Places Benchmark” by I4CE & PWC, with the support of Climate KIC. This first publication aims to define a method, based on facts and figures and not subjective assessments, and to measure the performance of financial centers in terms of financing the energy and ecological transition and combating climate change. The next editions of the benchmark will be extended to other financial centers than the G7 and will aim to progressively enrich the available data.