The financial system needs to serve as the nervous system of the global economy rather than its master.
The costs of the 2007 global financial crisis illustrate this point. While industry lobbyists may point out that the bailouts are “only” equivalent to 1 per cent of gross domestic product in the United States, the multiplier costs of the ongoing recession and public debt debacle are substantial.
The crux of IISD's work on finance stems from our conviction that the root causes of the 2007 crisis remain largely unaddressed. While we welcome the raft of regulatory and governance reforms on both sides of the Atlantic, they focus on potentially making the existing system safer rather than addressing the fault lines that led to the 2007 crisis. The ongoing reforms also failed to increase fiduciary responsibility across the many actors in the financial services sector. Peer-to-peer fiduciary responsibility is critical to ensuring the stability of financial markets, both nationally and globally.
Broader structural reforms are therefore needed if the financial system and sector are to deliver on sustainable development. And these reforms need to be implemented in a coordinated manner across industrialized and lower-income geographies. Only then can we level the playing field across global financial markets and reward prudent regulation, good corporate governance and long-term value creation.
Sustainability Impacts of Chinese Outward Direct Investment: A review of the literature
This literature review study has been developed in support of the project on Promoting Sustainable Development of Chinese Enterprises for “Going Out,” in order to accelerate the pace of “going out responsibly” as well as to cultivate a group of world-class responsible multinational corporations.Read More
Green Bonds, Green Boundaries: Building China’s green financial system on a solid foundation
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CCICED Policy Research Report on Environment and Development 2014: Management and institutional innovation in green development
The China Council for International Cooperation on Environment and Development—a body of international and Chinese experts—offers its recommendations to the Chinese government on the transition to a green economy.Read More
Tipping Permitted: Green finance goes mainstream
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Greening China's Financial System
The aim of this book is to develop specific proposals for greening China’s financial system, based on an analysis of current practice in China and an exchange of experience with international experts.Read More
Growing a Green Bonds Market in China
This report provides a range of specific, action-oriented recommendations for China’s policy-makers on how to grow a green bonds market in China.Read More
How to Issue a Green Bond in China
The How to issue a green bond in China is an issuance guideline for potential issuers of green bonds in China.It provides five simple steps, from...Read More
DICE Model Reassessment: Summary and key findings from first phase of analysis
This working paper analysis, developed by Dr. Robert Repetto and Dr. Robert Easton, analyzed the most prominent climate economics assessment model ...Read More
Can Profits Help the Planet? Summary of a panel discussion on green growth
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Integrating Environmental Risks into Asset Valuations: The potential for stranded assets and the implications for long-term investors
Institutional investors are increasingly committed to integrating environmental, social and governance (ESG) factors into their strategies for...Read More