Mobilizing the world’s financial centres is essential to make progress on climate change and sustainable development. Financial centres are the key locations where the demand for and supply of finance come together. They are the key places where the expansion of green and sustainable financial services will need to be accelerated across banking, capital markets, investment and insurance.
A growing number of financial centres are taking strategic action to seize this opportunity. Policymakers are also welcoming this trend as a way of strengthening the growth of green and sustainable finance. The 2017 G7 meeting of Environment Ministers, for example, recognised the potential for these initiatives to be furthered through international cooperation. To this end, an international network of financial centres for sustainability is being established to exchange experience and take common action on shared priorities.