Gearing the financial system to finance the socio-economic and ecological transformation

Topics:
Summit 2022
This session is curated by Christian Kastrop, Fellow, Global Solutions Initiative.

International finance - private and public - is needed to finance the Paris Climate goals and overall sustainable development - with respect to foster sustainable economic growth and jobs and - most important - social cohesion and?solidarity,?leaving?no one behind.

Our economy must serve human needs. For that, it must not be entirely geared towards economic progress but must improve social progress and environmental sustainability as well. The global community has agreed to common goals, the Paris agreement and the Sustainable Development Goals, in these respects. Now, international finance - private and public – must deliver to finance these global goals.

We need a new systemic approach, defining, implementing and safeguarding new roles for the key global players - politics, corporates and people. What systemic approach is needed so that international finance is channelled into projects that support environmental protection and social cohesion rather than just short-term financial returns? How can we define, implement and safeguard new roles for the key global players - politics, corporates and people? What are good examples and best practices? How can we foster complementary action in policy and business; a commonality of purpose? What are next important corner stones on the way forward? Can geopolitical tensions be overcome by delivering on these common goals?

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