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EMDE Body on Sustainable Finance Unveiled by China’s IFS 

A new capacity building body focused on sustainable finance in the Global South has been launched at COP28 by Beijing-based Institute of Financial and Sustainability (IFS). The Capacity-building Alliance of Sustainable Investment’s (CASI) 42 initial members include HSBC, Standard Chartered Bank, Silk Road Fund and the CFA Institute. CASI will aim to deliver “high quality and high impact sustainable finance capacity building services to emerging markets and developing economies (EMDEs)”. Ma Jun, President of IFS and former Co-chair of the G20 Sustainable Finance Working Group (SFWG), said: “The demand for sustainable investment is huge in EMDEs, but most of these economies are yet to put in place the key elements of a green financial system. A key barrier to mobilising sustainable finance in much of the Global South is the lack of ‘green’ capacity with various stakeholders, including governments, financial institutions, service providers and project owners. CASI will serve as a global aggregator and distributor of sustainable finance knowledge for EMDEs” . CASI’s learning programmes will cover topics including green taxonomies, disclosure, financial products, policy incentives, carbon markets and project origination. Programmes will be distributed through a variety of means, including online courses, certificate programs, face-to-face training events, and tailor-made courses. CASI will begin its operations in 2024, with in-person events planned in Asia, Africa, Middle East, and Latin America. Last Friday (1 December) the Global Capacity Building Coalition aimed at EMDEs was launched at COP28 by Bloomberg Philanthropies and others.   

 

 

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