"New Rules for New Horizons - Reshaping Finance for Sustainability"

AXA and the United Nations Environment Program (UNEP) "Inquiry into the Design of a Sustainable Financial System" are hosting a high-level symposium in Paris on July 3rd. ALL NEWS  |  Climate
Jul 3, 2015

In the aftermath of the financial crisis, a growing number of governments, regulators and market actors across the world are reflecting on how to better incorporate sustainability factors into the rules that govern the financial system.

2015 looks set to intensify this process, in particular on long-term challenges such as climate change, which is among the most crucial and challenging long-term policy issues that societies have ever faced. Will notably take place:

In the build-up to these events, the UNEP Inquiry and AXA are organizing on July 3rd a Symposium to build a bridge between financial regulatory challenges and these reflections on climate change and sustainable development. The objective is to make progress towards a financial system that is more resilient and placed at the service of sustainable and inclusive growth.

The full-day Symposium will therefore bring together high-level policy-makers, industry experts on the topic as well as leading academics, so as to find concrete policy solutions to improve the outcomes provided by the financial sector, especially in the context of COP 21 in December.

Linking finance and sustainability is a topic of core interest for AXA as a long-term investor. The financial regulation established since the 2008 crisis can be credited with many achievements, but there is still a sense of short-termism, pro-cyclical behaviours and lack of alignment of finance with the broader economic, societal and environmental objectives. Aligning finance more closely with such broader objectives does not require a fundamental overhaul of the regulations, but can be done through adjustments in a number of key areas. These issues will be discussed at the UNEP-AXA Symposium.

The lead question of the Symposium will therefore be to see what more needs to be done to reshape finance towards sustainability and who could take action.

AXA is proud to organise this Symposium in collaboration with the UNEP Inquiry, and we hope that it will be an important milestone along the journey towards the UN Climate Change Conference in December in Paris.