The financial sector stands at a critical moment, with an accelerating pace of sustainability and net-zero pronouncements by a range of actors. While welcome, this proliferation has exposed a missing link: how to understand and ensure the integrity of the many initiatives, and the financial sector’s overall impact towards a sustainable future?
This event introduced the Framework for Sustainable Finance Integrity, the first framework against which to measure meaningful sustainable finance progress across the full financial sector. The Framework provides both minimum and leadership benchmarks, creating guardrails for accountability as well as a common vision for creating the lasting transformation needed.
Press release: Public and private financial leaders seek to contribute to greater integrity and coordination in sustainable finance commitments.
Grounded in the need for more holistic, ambitious action on sustainable development in the midst of a once-in-a-century pandemic and accompanying global recession, the Framework builds on commitments of existing coalitions and individual actors, as well as critical actions identified by civil society. They were designed and refined by an Advisory Council of leading personnel and organizations from each segment of the financial ecosystem, including insurers, commercial banks, development banks, asset managers, civil society, and government representatives across Asia, Africa, Europe, and the Americas.
During the 60-minute event, participants learned how the Framework was developed to address all major segments of the financial ecosystem, both public and private, and heard from leaders in each segment about how the Framework properly addresses sustainable finance integrity specific to those segments.
Speakers included:
- Paola Alvarez, Assistant Secretary, Sustainable Finance and Special Projects, Philippines Ministry of Finance, participating on behalf of Secretary Carlos Dominguez
- Barbara Buchner, Global Managing Director, CPI
- Sharan Burrow, General Secretary of the International Trade Union Confederation
- Patrick Dlamini, CEO and Managing Director, Development Bank of Southern Africa
- Kate Hughes, Director of International Climate Change, Department for Business, Energy & Industrial Strategy, United Kingdom
- Daniel Klier, Chief of Staff Global Banking & Markets; Global Head of Sustainable Finance at HSBC
- Margaret Kuhlow, Global Finance Practice Leader, WWF International
- Rachel Kyte, Dean of The Fletcher School
- Joaquim Levy, Director of Banco Safra SA
- Luiz Pereira da Silva, Deputy General Manager, Bank for International Settlements
- Bella Tonkonogy, Associate Director, CPI
- Laurence Tubiana, CEO of the European Climate Foundation (ECF)
- Marina Zeyss, Head of Global Sustainability in Allianz as Financial Institution
