EDF Calls on OECD for Bold Leadership in Green Finance

EDF statement from Sergio Sanchez, Senior Policy Director, Global Clean Air Initiative

October 9, 2020
Kevin Tuerff, +1 (512) 691-3451, ktuerff@edf.org

(Mexico City) The Organisation for Economic Co-operation and Development (OECD) recently held its Forum on Green Finance and Investment, which gathers key public and private leaders to discuss green and sustainable finance issues.

“Mobilizing green finance and investment on the scale needed with the measurable impact on planetary health in the next decade, is both a remedy and a catalyst for action.

Although the ‘scale of necessary green financing’ is daunting, the opportunity to rebuild better is triggering a new wave of financial and policy innovation that can inspire and help bring together the powerful coalitions needed to drive effective action on climate change, ocean health and other global environmental challenges. We need action that leads to just, inclusive and sustainable development.

Since its establishment in 1967, EDF has recognized the importance of economic incentives to drive environmental progress. We also help build the unexpected coalitions we need to channel the tools of science and economics and harness the power of markets, technology innovation and community action. In recent years, markets have seen a significant increase in green finance and investment. We have also seen the creation of new principles, guidelines and standards for sustainable investment in a range of sectors or themes, and a necessary development of new economic models that can better support just and equitable outcomes.

The opportunity exists now to connect investment guidance and these models to create greater clarity, transparency and a taxonomy for green finance and investment. We must not only grow these funds consistent with the magnitude of the global challenges we face, but also ensure measurable social and environmental benefits. We consider this indispensable to increasing the scale and effectiveness of green as well as blue finance.

EDF will continue to work on policy and economic instruments that will help accelerate greener investments. We look forward to working with the OECD and our partners in the private sector, government and civil society to enhance transparency on green and blue finance streams to ensure a sustainable, equitable and resilient post-pandemic recovery.”

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Environmental Defense Fund (edf.org), a leading international nonprofit organization, creates transformational solutions to the most serious environmental problems. EDF links science, economics, law and innovative private-sector partnerships. Connect with us on EDF Voices, Twitter and Facebook.