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Developing Nations Driving Green Finance
March 2, 2017
At the recent Singapore, Green Finance and the Collaborative Challenge event, experts concluded developing countries are leading innovation in green finance; however, to be successful they require strong cross-sector partnerships.
The event was organised by the United Nations Environment Programme (UNEP), Singapore Management University (SMU), and the Singapore Institute of International Affairs (SIIA), and brought together representatives from the financial sector and national and international regulatory bodies.
Experts shared their insights on the nexus between sustainable finance and collaborative action, as well as highlighting the role of sustainable finance in developing carbon-reduction strategies and achieving the Sustainable Development Goals (SDGs).
Simon Zadek, Co-Director of the UNEP Inquiry into the Design of a Sustainable Financial System, said that much of the innovation in green finance comes from developing nations including Kenya, Bangladesh, Mongolia, Columbia, Chile and Peru, rather than wealthier developed nations.