Regulatory measures for green finance doubled in past years

 

The United Nations has said that the number of policy and regulatory measures that backed green finance has doubled since 2015, which s considered to be a good move for a green and clean Earth.

The figures released by the UN Environment Programme shows that there were at least 400 national and sub national policy regulatory measures have been initiated on green finance. The Agency said that this showed 106 per cent increase since 2015. The agency released the figures on the sidelines of the UN Climate Change conference in Madrid.

It also shows that the movement on green finance has taken about 79 new measures in 2019. Noting that several plans were being envisaged to create zero carbon and bio diversity friendly economies and societies, UNEP Executive Director Inger Anderson said that this needed full backing of the world financial system. Despite good response to green financing, he said that there was need for more drive towards cutting green house emission.

Noting that there was an increasing number of measures that targeted multiple asset classes and over two thirds of measures were being implemented in developed economies.  GGKP head Benjamin Simmons was quoted as saying that these measures helped in clarifying the responsibilities of financial institutions with respect to environmental factors.

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