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.
Soil Remediation in China: How a huge pollution problem is putting the green finance movement to the test
IISD, with Chinese and international partners, is testing the potential of the entire spectrum of green finance approaches to deal with China’s legacy of toxic soils and the urgent need to restore them to health and productivity.Read More
China's Exceptional Commitment to Green Finance
Today China is the unquestioned world leader in green finance, and it is using its example to inspire and impress other countries worldwide. And all of this has taken place in a remarkably short period of time.Read More
Roadmap for China: Using Green Securitisation, Tax Incentives and Credit Enhancements to Scale Green Bonds
This paper provides specific actions for China’s policymakers to put in place instruments and incentives for green bonds, with a particular focus on how to grow a green securitisation market in China that can access international capital. Specific actions for China draw on domestic and international experience.Read More
Roadmap for China: Scaling Up Green Bond Market Issuance
This report provides a roadmap for China to scale up the issuance of green bonds in the domestic market and develop the overseas RMB-denominated market by identifying and addressing the current challenges that limit green bond issuance.Read More
Roadmap for China: Green Bond Guidelines for the Next Stage of Market Growth
This report sets out a roadmap for the next steps of the green bond guidelines in the Chinese domestic green bond market with the aim of harmonizing these guidelines with international practice.Read More
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
China's introduction of guidelines for green bonds marks an ambitious move to ramp-up environmentally friendly investment.Read More
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
In every country concerned, there must have been a moment during the anti-tobacco campaign at which the balance of advantage shifted—subtly, perhaps tentatively, but changing things fundamentally and forever.Read More
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