Sustainable Finance: Next Steps – Roadmap creates platform for SFF 2.0

Credit: Original article can be found here

Business

2 Nov, 2020 04:00 PM

Vicky Watson. Photo / Supplied

Today doesn’t mark the finish line for the Sustainable Finance Forum (SFF) and its Roadmap for Action. It’s actually just the start line. The Roadmap now needs to be delivered.

It’s important we don’t lose the momentum Aotearoa New Zealand has gained to date. Whilst this Roadmap serves to provide the strategic intent (the ‘why this is important’ and the ‘what needs to be done’), it was beyond the scope of the Circle’s inaugural initiative to delve into the ‘how’ this will be achieved.

The roadmap’s implementation will require ongoing leadership, commitment and funding so it is essential that there is strong, proactive participation from the Government as well as capital providers and capital users. As the sustainable finance agenda impacts all of them, it is also clear that no single organisation or entity could ‘merely slot this into their remit’.

Hence SFF’s recommendation for an independent Centre for Sustainable Finance.

This has been the approach taken in the UK, Canada, and Australia. There are obviously more conversations needed with Government and industry bodies to develop this. Whilst the Centre might or might not be tasked with implementation, there is at the very least a significant coordination effort required to keep the various recommendations on track.

As this will take time, The Aotearoa Circle will support a ‘SFF 2.0’ with two new Co-Chairs and a new Leadership Group to manage the interim period before such a Centre is formed. The new forum will help navigate a way ahead and engage in conversations to keep momentum going. This may take the next 6-12 months to formalise.

The Aotearoa Circle strives to advance tangible projects that will achieve sustainable prosperity for all; a key objective being to reverse the decline of our natural capital.

SFF 2.0 will complete the new pipeline of work for the Aotearoa Circle for 2021. Along with the recently completed Native Planting Rebalance business case, we are launching a Seafood Sector Adaptation Plan, a National Food Strategy and further investigating an all sector, 30 year energy strategy.