6 December 2019
Several Canadian members of the United Nations Environment Programme Finance Initiative support the final recommendations of Canada’s Expert Panel on Sustainable Finance – Mobilizing Finance for Sustainable Growth. A statement that affirms financial institutions commitment to support the transition to a sustainable economy.
The membership-led effort convened twelve organizations to affirm their commitment to mobilize their financial expertise to accelerate the transition. The commitment reflects the central role the financial industry holds in supporting the critical shift to a low-carbon economy.
Chief Executive Officers’ endorsement of the statement of support attests to the fact that climate change is a defining issue that presents several challenges and opportunities, which collectively can be better addressed. The final report of the Expert Panel offers valuable perspectives and an actionable roadmap to help move the economy onto a sustainable trajectory.
The final report provided fifteen recommendations outlining opportunities for sustainable growth that fall under three pillars; The Opportunity, Foundations for Market Scale, and Financial Products and Markets for Sustainable Growth.
In signing the statement, financial institutions express their commitment in support of Canada to achieve its long-term goals and ambitions and align finance with the real economy for sustainable economic growth through sustainable products, markets and growth. Members will work together and with other stakeholders to address societal challenges and ensure long-term prosperity for Canadians.