GREEN FINANCE
PROGRESS REPORT
July 2017
The UN Environment Inquiry
The Inquiry into the Design of a Sustainable Financial System has been initiated by the United Nations Environment
Programme (UN Environment) to advance policy options to improve the fnancial system’s efectiveness in mobilizing
capital towards a green and inclusive economy—in other words, sustainable development. Established in January 2014,
the Inquiry published its frst global report, ‘The Financial System We Need’ in October 2015, with the second edition
launched in October 2016. The Inquiry has worked in around 20 countries and produced a wide array of briefngs and
reports on sustainable fnance.
More information on the Inquiry is at:
unep/inquiry
and
unepinquiry
or from:
Ms. Mahenau Agha, Director of Outreach
mahenau.agha@unep
About this report
This input paper has been prepared by the authors as a contribution to the G20 Green Finance Study Group (GFSG) but
has not been endorsed by it nor does it represent the ofcial views or position of the GFSG or any of its members.
Acknowledgements
We thank all G20 members, as well as invited countries including Chad, the Netherlands, Norway, Senegal, Singapore,
Spain, Switzerland and Vietnam for their invaluable inputs to this report. We also thank the international organizations,
including the Bank for International Settlements (BIS), the Financial Stability Board (FSB), the International Finance
Corporation (IFC), the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development
(OECD) and the World Bank for their contributions. We are grateful for the insights provided by the Climate Bonds
Initiative, the China Green Finance Committee, the China International Institute of Green Finance, the Principles for
Responsible Investment, the IFC-hosted Sustainable Banking Network, the UN Environment Finance Initiative and the
University of Cambridge Institute for Sustainability Leadership.
Comments are welcome and should be sent to
iain.henderson@unep.
CopyrightUnited Nations Environment Programme, 2017
Disclaimer
The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on
the part of the United Nations Environment Programme concerning the legal status of any country, territory, city or area or of its authorities, or
concerning delimitation of its frontiers or boundaries. Moreover, the views expressed do not necessarily represent the decision or the stated
policy of the United Nations Environment Programme, nor does citing of trade names or commercial processes constitute endorsement.
GREEN FINANCE
PROGRESS REPORTGr
ee
n
Fi
na
nc
e
Pr
og
re
ss
R
ep
or
t
FOREWORD FROM THE GREEN FINANCE STUDY
GROUP’S CO-CHAIRS
Green fnancing at scale will be critical to achieve
the G20’s goal of securing balanced and sustained
growth. Establishing the Green Finance Study
Group during China’s G20 Presidency in 2016
signalled this signifcance, reinforced by Germany’s
decision to continue this work stream during its G20
Presidency this year. In addition, placing this work
in the G20’s fnance track has made it a priority of
fnance ministers and central bank governors who
are responsible for the resilience and efectiveness
of the global fnancial system.
Over the last two years, the Green Finance Study Group has mapped green fnance needs, barriers
to overcome, and progress made across G20 members and other countries as well as internationally.
The Synthesis Report released on the occasion of the Hangzhou Leaders Summit in September 2016
highlighted seven options that G20 members might adopt to scale up green fnance. This report was
a milestone in mainstreaming the concept of green fnance among key policymakers, and in delivering
high-level policy signals to encourage green investment by the private sector.
We are pleased to release the frst annual progress report on green fnance, a working paper associated
with the activities of the Green Finance Study Group. It has been prepared by UN Environment, which has
served as the Secretariat of the Green Finance Study Group since it was established in early 2016, and also
as a key knowledge partner. The report reviews the progress on green fnance – in terms of policies and
fnancial product development – across the G20 and internationally against the seven options set out in
the Synthesis Report. Given the rapid development of green fnance activities across the world, it cannot
hope to be complete at the time of publication. Yet it does cover much of the ground with inputs from
most of the G20 members and many knowledge partners.
As Co-Chairs of the Green Finance Study Group, we are gratifed to see how much action is being taken
on green fnance across the world in the past year. The report highlights progress in almost every
G20 member, and much that is happening internationally. We believe that many of these actions have
benefted or been encouraged by the G20’s focus on green fnance
Much remains to be done, despite the meaningful progress so far in the green fnance space. We hope
that the G20 can continue to play a critical role in catalysing such developments.
Ma JunMichael Sheren
Chief Economist, Research Bureau
People’s Bank of China
China
Senior Advisor
Bank of England
United Kingdom
。。。以上简介无排版格式，详细内容请下载查看