ESG | GREEN FINANCE
PRIVATE FINANCE ENTITIES – INCLUDING BANKS , INVESTORS , AND BUSINESSES – WILL NOW HAVE TO STEP UP TO THE CHALLENGE AND DRASTICALLY INCREASE THE SCALE OF THEIR OPERATIONS
Subathirai Sivakumaran United Nations ’ ESCAP Finance Chief for Development
This gets to the crux of the matter – whose responsibility is this ? Who should be funding sustainable finance ? Should it be governments or the private sector ?
Delivering this transition will involve engaging governments , central banks , commercial banks , institutional investors , and other financial actors . It is therefore everyone ’ s responsibility . Governments and international financial institutions can play a crucial role in providing initial funding for sustainable finance projects by serving as a catalyst for attracting private capital .
“ Asia and the Pacific is home to significantly large pools of private capital capable of bridging the gap in sustainable finance ,” says Sivakumaran . “ Private finance entities – including banks , investors , and businesses – will now have to step up
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