1、Financing A Sustainable Economy | Technical Paper 2020 FINANCING A SUSTAINABLE ECONOMY Draft For more information, please contact: Communications Directorate National Treasury | Private Bag X115, Pretoria, 0001 | 40 Church Square, Pretoria, 0002 Tel: +27 12 315 5757 | Fax: +27 12 406 9055 FINANCING
2、A SUSTAINABLE ECONOMY Draft 1.EXECUTIVE SUMMARY.1 1.1 Climate change in South Africa .1 1.2 Financial implications .2 1.3 Treasury approach .3 1.4 Objectives .4 1.5 Recommendations .5 2.INTRODUCTION .7 2.1 Aims and Objectives .7 2.2 Approach .8 2.3 Environmental and Social Risk Management in a Globa
3、l Context.8 2.4 Current Measures to Incorporate Environmental and Social Risk in the Global Financial Sector .9 2.5 South Africas climate change response .9 2.6 Barriers to investing in a more sustainable economy .11 2.7 Government-led initiatives in sustainable finance .12 3.DEFINING SUSTAINABLE FI
4、NANCE .16 3.1 Scope of Sustainable Finance .16 3.2 Related definitions .17 3.3 Green bonds: New sources of finance .18 3.4 International trends .19 3.5 South African green bonds .19 4.OVERVIEW OF DEVELOPMENTS WITHIN THE SOUTH AFRICAN FINANCIAL SECTOR .20 4.1 Drivers of change .20 CONTENTS 4.1.1 Comp
5、anies Act .21 4.1.2 Regulation 28 of the Pension Funds Act (2011) .21 4.1.3 Voluntary action by financial institutions .21 5.BANKING .23 5.1 Environmental and Social Risk management in banking .23 5.2 The specific risks posed by climate change to the banking sector .24 5.3 Sector overview .24 5.4 Go
6、verning legislative framework .24 5.5 Regulatory requirements to address sustainability risks .24 5.6 International trends .25 5.7 Banking sector approach to sustainability .26 5.8 Banks progress on sustainable or green finance .27 5.9 Challenges .28 5.10 Banking specific recommendations .28 6.RETIR