- GFP and FC4S introduce toolkit to help countries develop a sustainable finance roadmap
Geneva, 27 September 2022 – The Green Finance Platform (GFP) and UNDP Financial Centres for Sustainability (FC4S) launched today its Sustainable Finance Diagnostic Toolkit to support policymakers take a coordinated approach to the development of a national sustainable finance roadmap.
The toolkit is a 10-step online questionnaire that provides practical guidance for policymakers to improve their understanding of actions to enhance mobilization of financing for sustainable development. Each step of the toolkit represents the core components to examine the sustainable finance status of a country.
Through the toolkit, countries will be able to surface necessary information and measures to unlock sustainable finance, which will feed into the development of national, or potentially regional, sustainable finance roadmaps.
“As the momentum around the political economy of sustainable finance increases, there is a strong demand from countries to define the financial sector’s role in greening the economy,” said Asad Naqvi, Head of the Secretariat, Green Growth Knowledge Partnership.
The toolkit will help countries identify a clear picture of financing needs to address sustainable development and the financial system reforms to meet them. It will also help estimate additional financing required to mobilize financial resources for the country as well as efficiently utilize the current supply of sustainable finance to fill the needs and gaps.
“Countries need to take a tailored approach to develop sustainable finance capabilities depending on their institutional and structural driver of change,” said Stephen Nolan, Managing Director, FC4S and Sustainable Insurance Forum. “This toolkit is about guiding policymakers on how to mobilize those drivers.”
The toolkit is developed and managed by the Green Finance Platform, as a part of the Global Environment Facility-funded Aligning Finance Policies project, and is based on the research and assessment conducted by the UNEP Inquiry into the Design of a Sustainable Financial System and the UNDP Financial Centres for Sustainability.
