Sustainable Nation has a mandate from the Department of Finance through its International Financial Services (IFS) 2020 strategy to promote and position Ireland as an international hub for green finance and raise awareness of the Sustainable & Responsible Investment (SRI) agenda.
As Ireland is already recognised as a global location of choice for specialist international financial services, Sustainable Nation sees an opportunity to apply these existing key strengths in talent, technology, innovation and excellent client services to the niche area of green finance.
Sustainable Nation has also established the Sustainable & Responsible Investment Forum (SIF) with investors to deliver its mandate of raising awareness of considering ESG (environment, social and governance) factors when making investments. SRI underpins Sustainable Nation’s pillars – finance, enterprise, skills and resource efficiency – as companies who adopt sustainable business practices are more attractive to investors.
Sustainable Nation is working to support and promote the specialist area of green finance, which is accelerating rapidly due to drivers such as the Paris Agreement, the 2030 Sustainable Development Goals (SDGs) and EU Pension Reform.
Green finance is the financing of both public and private investments that provide environmental benefits include reductions in GHG emissions, improved resource efficiency, reductions in air, water and land pollution, and the mitigation of and adaptation to climate change.
It is a subset of the more general sustainable finance, which also includes financing investments that have a lasting benefit to society and are in line with the UN’s 2030 Sustainable Development Goals (SDGs).
Green financial instruments include green loans, green bonds, green funds (including green ETFs).
Sustainable Nation is currently working on a strategy to position and promote Ireland as an international hub for green finance.
Climate finance is the finance required for the mitigation of and adaptation to climate change. It is often used to refer to financial flows from developed to developing nations.
Sustainable Nation is currently exploring the development of an African Leadership for the Financing of Clean Energy (ALFCE) programme.