The report urges financial policy-makers to integrate measures promoting transparency, accountability, responsibility and trust.
The report warns policy-makers and financiers to stay clear of creeping environmental, social and governance risks, and argues that post-financial crisis efforts to shield the economy from volatility must be extended to include emerging sources of instability in the environmental, social and governance realms.
23 July 2012: The UN Environment Programme Finance Initiative (UNEP FI), in collaboration with the International Institute for Sustainable Development (IISD) and The Blended Capital Group, has released a report titled “Lenses and Clocks: Financial stability and systemic risks.” The report employs the principles of sustainable finance and responsible investment to inform the financial stability debate.
The 74-page report urges financial policy-makers to integrate measures promoting transparency, accountability, responsibility and trust as they seek to formulate and refine policies that deliver a more stable and resilient financial system to support globalized markets. The report warns policy-makers and financiers to stay clear of creeping environmental, social and governance risks, and argues that post-financial crisis efforts to shield the economy from volatility must be extended to include emerging sources of instability in the environmental, social and governance realms, if markets are to achieve robust growth and create wealth for all.
The report notes that such long-term, but steadily growing, risks include climate change, resource depletion and social upheaval. [Publication: Lenses and Clocks: Financial Stability and Systemic Risks] [IISD Publications Centre]