|
Brussels, |
|
International Platform on Sustainable Finance
EU taxonomy for sustainable activities
The International Platform on Sustainable Finance (IPSF) is a forum created to facilitate dialogue between policymakers with the goal of increasing private capital investments in sustainable activities. Launched on 18 October 2019, the IPSF aims to scale up the mobilization of private capital towards sustainable investments.
It provides a multilateral forum where members can exchange information, share best practices, and identify opportunities and barriers in sustainable finance, while also respecting the unique national and regional contexts of its members. The IPSF encourages alignment among members on sustainable finance regulatory measures, promoting greater comparability and interoperability of these approaches.
Key Members
The IPSF was initially founded by the relevant authorities of Argentina, Canada, Chile, China, India, Kenya, Morocco, and the European Union. Since its inception, it has expanded to include additional members such as Australia, Japan, Norway, the United Kingdom, and others, totaling 20 members. Collectively, these members represent 58% of global greenhouse gas emissions, 51% of the world’s population, and 54% of global GDP.
Main Activities and Steps
Observers
The IPSF's work is informed by 12 observers, including major international organizations such as the IMF, World Bank, OECD, and the United Nations, which provide additional insights and global perspectives on sustainable finance.
The IPSF continues to play a crucial role in aligning international sustainable finance practices, thereby facilitating the global transition towards a climate-neutral and sustainable economy.
It provides a multilateral forum where members can exchange information, share best practices, and identify opportunities and barriers in sustainable finance, while also respecting the unique national and regional contexts of its members. The IPSF encourages alignment among members on sustainable finance regulatory measures, promoting greater comparability and interoperability of these approaches.
Key Members
The IPSF was initially founded by the relevant authorities of Argentina, Canada, Chile, China, India, Kenya, Morocco, and the European Union. Since its inception, it has expanded to include additional members such as Australia, Japan, Norway, the United Kingdom, and others, totaling 20 members. Collectively, these members represent 58% of global greenhouse gas emissions, 51% of the world’s population, and 54% of global GDP.
Main Activities and Steps
- October 2019: The IPSF was officially launched during the IMF/World Bank annual meetings in Washington, D.C.
- 4 November 2021: Focused on taxonomy comparison and sustainability-related disclosure. The IPSF published reports including the Common Ground Taxonomy (CGT) Instruction Report and an ESG disclosure report.
- February 2022: The IPSF explored how sustainable finance alignment approaches could integrate transition considerations, establishing a working group to study this area.
- June 2022: The IPSF updated the CGT activities’ table based on stakeholder feedback, covering 72 climate change mitigation activities that align with both the EU and China taxonomies.
- November 2022: Continued focus on taxonomy comparison and transition finance, publishing the 2022 IPSF annual report and a report on transition finance.
- 4 December 2023: The IPSF's fourth-year focus on social finance, transition finance, and taxonomy comparison culminated in the publication of three key reports during the 2023 IPSF annual event at COP28.
- 15 & 19 July 2024: The IPSF organized webinars to promote the Common Ground Taxonomy comparison exercise, aiming to establish the CGT as a tool for improving the comparability and interoperability of taxonomies globally.
Observers
The IPSF's work is informed by 12 observers, including major international organizations such as the IMF, World Bank, OECD, and the United Nations, which provide additional insights and global perspectives on sustainable finance.
The IPSF continues to play a crucial role in aligning international sustainable finance practices, thereby facilitating the global transition towards a climate-neutral and sustainable economy.
