The Sustainable Banking and Finance Network’s (SBFN) 7th Global Meeting is a high-level global forum for SBFN members, observers, and partners, including central banks, financial regulators, banking associations, and networks active in sustainable finance. This year, SBFN celebrates its 10th anniversary. The Global Meeting, a virtual event over 3 half-days, featured high-level speakers including IFC’s Managing Director Mr. Makhtar Diop, SBFN Chair Mr. Alfonso Garcia Mora, and Her Majesty Queen Máxima of the Netherlands, the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development. The list of speakers also included central bank governors, heads of financial regulatory agencies, industry associations, and leaders of international networks from across emerging markets that are active in different aspects of sustainable finance.
The final panel discussion of this year’s Global Meeting focused on the need for international networks and partners to work together to support emerging markets in translating sustainable finance policies into investments in green and inclusive projects. The panelists shared experiences from the Association of Southeast Asian Nations (ASEAN), the Network for Greening the Financial System (NGFS), the United Nations Sustainable Stock Exchanges Initiative (UNSSE), the Equator Principles Association (EPA), the International Capital Market Association (ICMA), and IFC in developing sustainable finance markets.
They collectively agreed that nothing is possible without strong partnerships between the public and private sectors and at regional and global levels. Panelists emphasized the importance of building capacity and creating pipelines of sustainable investments across emerging markets. They also highlighted emerging themes to address, such as biodiversity and nature-based solutions, gender equality, financial inclusion, and ensuring a just transition to low-carbon economies.
Anthony Miller, UN SSE Coordinator, highlighted the SSE's collaboration with IFC on sustainable finance in the areas of Gender Equality as well as Climate Action. "We welcome our strategic cooperation with IFC which allows us to further accelerate the development and impact of sustainable finance, especially in emerging markets," said Mr. Miller.
On the topic of Gender Equality, a joint report by UN SSE and IFC has identified three broad areas where exchanges can play a role in advancing gender equality, namely the promotion of gender-focused and/or gender-aware products and services, strengthening of market performance on gender equality and leading by example. The guidance is an updated and expanded version of the guidance the Sustainable Stock Exchanges (SSE) originally published in 2017.
The UN SSE works with IFC to deliver a multifaceted course on climate disclosure in collaboration with SSE member exchanges to distribute to their markets. The programme’s objective is to assist in the adoption and implementation of the recommendations of the FSB’s Task-force on Climate-related Financial Disclosures (TCFD) (learn more here).
