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Events

UNEP FI 2007 Global Roundtable

Voluntary Versus Regulatory: The Highwire Balancing Act

Workshop 1.5.1
16.00-17.30

International voluntary commitments to sustainability in the finance sector such as the Equator Principles, the UNEP Finance Initiative (UNEP FI) Statements on sustainability, and the UN Principles for Responsible Investment (PRI), have seemingly assisted to bring about significant change in the approaches of the finance sector towards sustainability. But are these commitments sufficient? Has a real mindshift in the finance sector occurred? Are real contributions to sustainable development being made? This session will involve panelists from various regions around the world to share their experiences. In particular the panel discussion will shed light on:

Whether voluntary initiatives of self-regulation are sufficient to bring about real change in the finance sector. Are regional discrepancies and trends apparent? What are some of the regional success stories?
What are there gaps, are there activities in the finance sector that remain to be explored in a sustainability context and are new voluntary commitments needed? Do current initiatives need to be strengthened or re-visited?
Does government intervention and regulation offer a panacea for sustainability in the finance sector? Is it needed and what could it contribute to achieve?

Session Summary (PDF: 628 KB)

Speakers

Mr. Terry A'Hearn, Director Sustainable Development, EPA Victoria, Australia
Mr. Fotis Kourmousis, Special Secretary to the Board-,Union of Environmental Scientists of Greece
Mr. Osamu Odawara, Global Structured Finance Division, Mizuho Corporate Bank, Ltd, Japan
Paul Hilton, Director, Advanced Equities Research, Calvert Group