EC announced that New Zealand and Singapore are joining the International Platform on Sustainable Finance or IPSF. This international platform was created in October 2019 as part of the international efforts to meet the Paris Agreement targets. Other members of this platform include EU and the relevant authorities from Argentina, Canada, Chile, China, India, Indonesia, Kenya, Morocco, Norway, and Switzerland. The International Platform on Sustainable Finance focuses on initiatives such as taxonomies, standards and labels, and disclosures, which are fundamental for investors to identify and seize green investment opportunities worldwide.
The platform works by facilitating information exchanges and, where relevant, coordinating efforts on initiatives and approaches to environmentally sustainable finance. The International Platform on Sustainable Finance is essential for stimulating investment and redirecting capital flows toward the EC climate objectives at a scale required for the most important economic transition. The platform is supported by the European Bank for Reconstruction and Development, the European Investment Bank, the Coalition of Finance Ministers for Climate Action, IOSCO, the Network for Greening the Financial System or NGFS, the Organization for Economic Co-operation and Development, and the United Nations Environment Program-Finance Initiative in their role as observers. The platform is open to public authorities that are taking action and are willing to promote international cooperation in this area.
Related Link: Press Release
Keywords: International, Europe, Asia Pacific, EU, Singapore, Banking, Insurance, Securities, Sustainable Finance, IPSF, Climate Change Risk, ESG, EC
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