Turning Sustainable Finance into Mainstream Finance
By José Siaba Serrate
We propose sustainable finance to become mainstream finance. Embedding environmental, social and governance (ESG) principles in a new normal for finance will facilitate its alignment with the broader objectives of society, the engagement of the private sector within the sustainability discussion and action plans, including the Agenda 2030; and by systematically pursuing risk reduction and the provision of stable long term returns, the achievement of the G20´s goal of “solid, balanced, sustainable and inclusive growth”. We propose the G20 to support the process by providing a comprehensive conceptual vision, an evolving roadmap, operational coordination and forward guidance to the multiple actors involved as well as the problem-solving capacity to tackle the numerous obstacles that will emerge in this transition.