Cambridge-UNEP Inquiry: Analysis by financial institutions – a review of global practice 2016

Under its first Presidency of the G20, China established a Green Finance Study Group (GFSG), reporting to Finance Ministers and Central Bank Governors. The GFSG’s objective has been to identify institutional and market barriers to green finance and, based on country experiences and best practices, analyse options on how to enhance the ability of the financial system to mobilise private green investment, thereby facilitating the green transformation of the global economy. The University of Cambridge Institute for Sustainability Leadership’s (CISL) Cambridge Centre for Sustainable Finance was asked to serve as Knowledge Partner to the GFSG.

The GFSG has been addressing a set of interrelated challenges across five areas of research, three of which have a sectoral focus (‘greening the banking system’, ‘greening the bond market’, ‘greening institutional investment’) and two of which are cross-cutting (‘risk analysis’ and ‘measuring progress’). The GFSG asked the Cambridge Centre for Sustainable Finance for a global stocktake of the tools and techniques that financial institutions are developing to analyse environmental risks. This paper presents the findings of this stocktake, which drew on CISL’s ability to cross boundaries between multiple fields of expertise and engage deeply with its global network of institutions right across the financial system.

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