Towards an inclusive and green economy
The 13th October saw the launch in Paris of the Positive Impact Manifesto by the United Nations Environment Programme Finance Initiative* (UNEP FI) with the support of Societe Generale and 9 other leading financial intuitions. The Manifesto invites banks and other financial sector players to think more holistically about their role in the economy, society and the broader environment, and proposes a ‘Roadmap’ to establishing a new, impact-based and market driven paradigm: Positive Impact Finance.
The transition to a green, inclusive economy requires considerable finance and significant efforts are already underway to promote and enable the financial sector’s participation in funding the transition to a ‘green’ economy. Yet, despite these efforts, the availability of private finance for clean, inclusive investments remains limited. Indeed, a persisting core obstacle is the elusiveness of the commercial viability and “bankability” of many of the products, activities and services that define this new economy. It is precisely this challenge that the Group and other members of the UNEP FI are pledging to take on in the Manifesto.
With the ambition to be a key player in the transition to a low-carbon economy, Societe Generale will continue its role as a leader in Positive Impact Finance by jointly steering, alongside ING and Triodos Bank, the UNEP FI’s Positive Impact Working Group on developing a roadmap to Positive Impact Finance, with the aim of delivering a vibrant market place where needs, solutions and financing can all be matched effectively by 2017.
For more information, please visit:www.societegenerale.com