On 18 October 2019, on the margins of the International Monetary Fund (IMF)/World Bank annual meetings in Washington DC, the European Union launched together with relevant authorities of Argentina, Canada, Chile, China, India, Kenya and Morocco the International Platform on Sustainable Finance (IPSF). The event was hosted by Kristalina Georgieva, Managing Director of the IMF, and Valdis Dombrovskis, Executive Vice President of the European Commission with the participation of Yi Gang, Governor of the People’s Bank of China, and Ukur Yatani, Cabinet Secretary for National Treasury of Kenya. You can watch the video of the IPSF launch ceremony here.
Since its launch, Hong Kong Special Administrative Region of the People’s Republic of China (Hong Kong SAR of PRC), Indonesia, Japan, New Zealand, Norway, Senegal, Singapore and Switzerland also joined the IPSF. Together, the 16 members of the IPSF represent 55% of greenhouse gas emissions, 50% of the world population and 50% of global GDP.
The work of the IPSF is informed by nine observers
- the Coalition of Finance Ministers for Climate Action
- the European Bank for Reconstruction and Development
- the European Development Finance Institutions
- the European Investment Bank
- the International Monetary Fund
- the International Organisation of Securities Commissions
- the Network for Greening the Financial System
- the Organisation for Economic Co-operation and Development
- and the United Nations Environment Programme – Finance Initiative.
The ultimate objective of the IPSF is to scale up the mobilisation of private capital towards environmentally sustainable investments. The IPSF therefore offers a multilateral forum of dialogue between policymakers that are in charge of developing sustainable finance regulatory measures to help investors identify and seize sustainable investment opportunities that truly contribute to climate and environmental objectives. Through the IPSF, members can exchange and disseminate information to promote best practices, compare their different initiatives and identify barriers and opportunities of sustainable finance, while respecting national and regional contexts. Where appropriate, willing members can further strive to align their initiatives and approaches.
A first public report on the work of the IPSF was published at the one-year anniversary event of the IPSF that took place on 16 October 2020 on the margins of the IMF annual meeting. The report summarises the IPSF activities of the preceding year, the global trends in sustainable finance initiatives; a first-round mapping and comparison of existing initiatives and an overview of sustainable finance plans in the pipeline in all member jurisdictions.
- Press release on the creation of the IPSF - 18 October 2019
- Frequently asked questions
- Joint statement on the IPSF - 18 October 2019
- Factsheet: International Platform on Sustainable Finance
- Watch the video of the IPSF launch ceremony
- IPSF annual report 2020
- Statement of the IPSF - 16 October 2020
The following countries are part the IPSF along with the European Union
- Argentina: Ministry of Treasury
- Canada: Department of Finance
- Chile: Ministry of Finance
- China: People’s Bank of China
- European Union: European Commission
- Hong Kong Special Administrative Region of the People’s Republic of China (Hong Kong SAR of PRC): Monetary Authority and Securities and Futures Commission
- India: Ministry of Finance
- Indonesia: Ministry of Finance
- Japan: Financial Services Agency
- Kenya: The National Treasury
- Morocco: Ministry of Economy and Finance
- New Zealand: Ministry for the Environment
- Norway: Ministry of Finance
- Senegal: Ministry of Finance and Budget
- Singapore: Ministry of Finance and Monetary Authority
- Switzerland: Federal Department of Finance