ESGeneration Italy at FC4S Annual General Meeting 2023
Milan, October 2023 – Last September 26th, 35 financial centers representing several countries from all the continents participated in the Annual General Meeting of UNDP Financial Centers for Sustainability (FC4S) which was held in Dublin. The Italian financial center, ESGeneration Italy also participated with two representatives.
Among the most significant news, 21 members of FC4S have signed a historic “Gender Finance Charter” in order to promote gender equality in sustainable finance. The signatories commit to take concrete actions during 2024 to integrate inclusion and gender balance into their sustainable finance activities. To support financial centers, FC4S is working to produce a Gender Finance Booklet, a manual that will provide the tools and guidance necessary for effective implementation of the Charter’s principles.
During the meeting, a partnership was then announced with the International Financial Reporting Standards Foundation (IFRS) in order to establish the National Sustainability Disclosure Hubs (NSDHs), which aim to promote the application of global standards for sustainability reporting. This initiative is in line with the growing demand to guarantee greater interoperability and comparability among different existing reporting standards. NSDHs will be launched in six developing economies.
Furthermore, the SDG Investment Pipeline Building program, launched in Africa, was presented. This project aims to stimulate the flow of private investments towards achieving the SDGs in Africa, producing concrete impacts on the environment and communities while ensuring satisfactory financial returns. During the event, some successful initiatives already launched in Kenya, Nigeria and Rwanda were illustrated.
In addition to the presentation of the projects, two topics of great relevance for sustainable finance at a global level were examined: the role of finance in protecting biodiversity and finance for the transition. The urgency to undertake actions and initiatives on these issues is shared by financial centers, many of which are already committed to working on these issues or intend to do so.
It has been fascinating to see how financial centers around the world are actively engaging in promoting more sustainable and inclusive finance. Knowing that on all continents we are working towards common goals is a source of inspiration and encourages us to continue promoting sustainable and responsible investments in Italy too.