TFI joins Luxembourg for Finance's Shaping Finance Podcast Series
Luxembourg for Finance's Shaping Finance Podcast Series shares the views of high-level leaders in the European and global financial services industry.… Read more
TFI Joins KPMG's New Sustainable Finance Podcast Series
In Episode 1 "The Sustainable Investing Landscape Within our Borders and Beyond" Jennifer Reynolds joins Tania Carnegie and to explore what the sustainable… Read more
Canadian Members of UNEP FI Sign Statement of Support To The Final Report of The Expert Panel on Sustainable Finance
Several Canadian members of the United Nations Environment Programme Finance Initiative support the final recommendations of Canada’s Expert Panel on… Read more
TFI Sustainable Finance Strategy
The global demand for cleaner economic growth is providing an opportunity for financial centres to play a leading role in unlocking the potential of sustainable growth. Global green bond issuance has more than tripled in the last 3 years to $163 billion in 2017. Recent data published by Corporate Knights estimates that the annual value of the sustainable finance opportunity for Canada’s financial sector is at least $27 billion and could be as high as $110 billion annually by 2025. TFI is working with the financial sector and our international partners to establish a strategy for the Toronto Financial Centre’s role in developing and growing sustainable finance in Canada in order to capitalize on the economic opportunity that can be created by the transition to a low carbon economy.
Defining Green & Transition Finance in Canada
Canada's Expert Panel on Sustainable Finance noted that "several international initiatives are in the process of advancing standardized taxonomies for green and related investments, and early precedents have emerged. However, initial criteria seem to exclude opportunities for GHG emissions reductions brought by innovation within heavy resource and industrial sectors. This restrictive scope could exclude some of Canada’s core economic sectors from certain investment mandates, benchmarks, funds, and accreditation standards – even if companies in these sectors are pursuing projects and strategies that lead to better environmental improvements than approved pure green projects."
To address this challenge the CSA Group, working with financial stakeholders such as TFI, are currently leading the development of a Canadian definition of Green and Transition Finance.
International Network of Financial Centres for Sustainability
TFI is a member of the International Network of Financial Centres for Sustainability (FC4S) which is a partnership between global financial centres and the United Nations Environment Programme. The FC4S objective is to: 1) exchange experience and take common action on shared priorities to accelerate expansion of green and sustainable finance; 2) strengthen international connectivity and create framework for common approaches.
The network is currently focused on initiatives to establish clarity and convergence on sustainable finance taxonomy, increase green finance activity and skills base in global financial centres, and foster innovation in sustainable finance markets.
Sustainable Finance Reports
Read the latest research papers on Sustainable Finance trends in Toronto/Canada:
Sustainable Finance Fact Sheets
This series of fact sheets from the Institute for Sustainable Finance explores the foundations of sustainable finance, one of the most important emerging fields of our time. Sustainable Finance aligns financial systems and services to promote long-term environmental sustainability and economic prosperity.
Sustainable Finance in Canada Today
Canada’s federal government has set out ambitious targets and plans for reducing carbon emissions under its commitment to the Paris agreement. In April 2018, to support that commitment, the Government of Canada announced the creation of an Expert Panel on Sustainable Finance which noted that “accelerating action to support sustainable finance is an important part of Canada’s G7 presidency.” The interim and final reports of the Expert Panel were released in October 2018 and June 2019.