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Seminar on Policy Frameworks for Sustainable Finance on November 6-7, Beijing, China

November 6-7, 2018—The second Global Green Finance Leadership Program (GFLP) was co-hosted by the Tsinghua Center of Finance and Development and SBN. One hundred twenty representatives from 38 countries attended the seminar. The event featured the first convening of leading sustainable finance networks of financial regulators represented by SBN and EU/NGFS. There was a consensus to develop an integrated approach on sustainable finance policy framework, including: (a) common technical components (ESG integration, green/climate finance, taxonomy, ESG disclosure and capacity building); (b) process of multi-stakeholder engagement; (c) alignment with international standards and best practices. In addition, the GFLP program convened a Green Taxonomy Working Group to develop a common reference point that could be used by SBN members and the wider GFLP network. It was recognized that financial regulators had an important role in developing consistent taxonomy to define and measure green and climate finance. The discussion centered around: (a) global consensus and alignment; (b) unique national context; (c) expansion to the social realm for sustainability taxonomy; (d) avoiding green washing and allowing national context for transitional issues. For more information, please find the event summary and the presentation slides.