Financing our Future
The report sets out actions to deliver a global sustainable financial system, with recommendations for all parts of the investment chain. The report was updated in December 2019 to reflect the actions and momentum that has built in the financial system since the report was first released.
Co-written by The Prince's Accounting for Sustainability Project (A4S) and Aviva Investors, the report was first tabled, in draft form, at a Finance Leaders' Summit hosted by HM King Charles III in July 2018, while he was The Prince of Wales, bringing together more than 60 Chairs, Chief Executive Officers and Chief Investment Officers from global financial institutions.
The report, also supported by Aon, was launched on Monday 24th September, and first referred to during the 'Financing the 2030 Agenda for Sustainable Development' session at the United Nations General Assembly (UNGA). The report explores opportunities by all across the investment chain to scale up actions taken to build a sustainable financial system capable of supporting achievement of the UN Sustainable Development Goals and putting us on a pathway towards achieving the Paris Agreement.
The recommendations include building a compelling evidence base and motivating people to act, developing consistent terminology, allocating funds to sustainable outcomes, adopting reporting standards, and pricing externalities. The report also identifies current actions already taken by actors across the financial system and the barriers to progressing further.
The dialogue that this report – and the Summit – generated will be continued through appropriate platforms, including the High Level Investor Forum hosted by the Government of Argentina and the World Bank Group in the lead-up to the G20 Leaders’ Summit in Buenos Aires.
"The Summit offered a timely opportunity to explore new ways to mobilize finance to tackle climate change and fund the critical mitigation and adaptation efforts required. New evidence shows that infrastructure debt (especially in "green" sectors) has a better risk profile than many perceive, and we are engaged with financial regulators on ways to build this asset class. We look forward to continuing this vital dialogue with investors, asset managers and representatives of savers at the high level Investor Forum which will take place on November 29th, in Buenos Aires, on the eve of Heads of State Summit. We must work together to strengthen the environment for long term, sustainable investment."
Joaquim Levy, Managing Director and the World Bank Group Chief Financial Officer
"This report comes at a pivotal time for the investment community. With the Business and Sustainable Development Commission estimating that achieving the SDGs will open up US$12 trillion of market opportunities by 2030, the action of one global financial leader is significant, but the potential for positive impact when acting in concert is immense and this is what we hoped to initiate with the recommendations within the Financing our Future Report."
Jessica Fries, Executive Chairman of A4S