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On 14 March 2018, Finance Watch and Z/Yen will launch the Global Green Finance Index (GGFI) aiming at creating a race-to-the-top among financial centres to become greener. This post introduces the GGFI and looks at some of the ways that civil society actors could benefit from it.
Pablo Grandjean 8 February 2018
The existing definition of investors’ “best interest” is about maximizing financial returns while adjusting risk to the profile of the client. It says nothing about the impact the investments have on the future of the investor or its children. This needs to change.
In its important Final Report, published on 31 January, the High-level Expert Group on Sustainable Finance reflected on the conditions for introducing a ‘green supporting factor’. At Finance Watch, we question the wisdom of this policy measure, which could easily turn into a gift for banks. In our view, the European Commission should look at other tools to ‘green’ the EU’s credit supply instead while preparing its Action Plan on sustainable finance in the coming weeks.
In this blog article, Grégoire Niaudet from our member Caritas France offers an ambitious overview of available sustainable finance policy tools. He argues that we need both to radically transform the business model of companies and financial institutions, and also to completely refocus the financial markets and redirect investment towards the challenges of mitigating climate change and adapting to it.
Tax evasion is no longer the occasional failure of an otherwise efficient tax system; it is a global, booming business. The result is gross inequality. The constitutional principle of equality before taxation is ridiculed by the institutionalisation of tax evasion. We want a different financial system, where tax is an equally shared contribution to the building of a fair society, prosperous for all. It is time to #changefinance.
In this blog article, OpenDemocracyUK's economics editor Laurie Macfarlane calls on civil society to start tackling the root causes of the financial crisis and working together to build a fairer and more sustainable alternative.
In this article, Andrea Baranes from Finance Watch's Member organization, Fondazione Finanza Etica, and Giulia Porino from Finance Watch present the new Italian law on ethical finance and argue that it could serve as a model for the European Union by exemplifying political willingness to regulate on the definition and implementation of sustainable finance.
Thierry Philipponnat, Director of the French think tank Institut Friedland and former Secretary General of Finance Watch, about his last book "Le capital de l’abondance à l’utilité"
Giulia Porino 4 April 2017
This short paper by authors from Finance Watch, Frank Bold, ShareAction and WWF calls for a series of “bottom-up” corporate governance improvements to help institutional shareholders and pension funds align their actions more closely with the wishes of savers and pension beneficiaries.
What will future generations of EU citizens make of today’s EU financial policies? Could a region in the UK – Wales - hold the answer? As the EU ponders its own future on “Brexit day”, less than a week after celebrating the 60th anniversary of the Treaty of Rome, we propose two ways the EU could make its financial policies more sustainable.
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