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THE GLOBAL NETWORK OF SUSTAINABLE FINANCIAL CENTRES SETS UP IN GENEVA

24/04/2018

A major investment accelerator in the green and social economy (FC4S) has chosen International Geneva as its global headquarters. This setting-up, complementary to the existing Geneva ecosystem, enables the canton to consolidate its network dedicated to responsible innovation.

Geneva is strengthening its status as a world capital of sustainable investments, with the setting-up of the FC4S (Financial Centres for Sustainability) network secretariat on its territory. The arrival of this important accelerator of responsible financial flows in international Geneva is the result of close collaboration between the United Nations Environment Programme (UNEP) and the Directorate General for Economic Development, Research and Innovation (DG DERI). It also results from the support of the federal authorities and several Geneva private actors.

"This location allows the canton to reaffirm its role as an international crossroads of sustainable finance, now recognized as one of the major trends shaping the future of global capital markets, notes Pierre Maudet, State Councillor in charge of the Department of Security and Economy (DSE). The arrival of the FC4S network is also complementary to the network of fintechs and microfinance specialists in Geneva. It promises important synergies with local innovation, notably through the GE=Ci2 platform."

CONNECTING FINANCIAL CENTRES TO THE NEEDS OF FUTURE GENERATIONS

The FC4S network was born out of the efforts undertaken by the Italian Ministry of the Environment during the Italian G7 presidency in 2017. Its mandate is to breathe new life into asset investment practices. It currently has the combined expertise of 18 economic centres, concentrating major players from the world of banking, investment and insurance, whose objective is to develop the global green and solidarity finance market.

The potential economic benefits, in areas related to climate change and sustainable innovation alone, are estimated at $12 trillion by 2030. "Only companies capable of putting these emergencies at the heart of their business model will be able to attract the human and financial capital necessary for their growth," stresses Nicholas Niggli, Director General of DG DERI and the driving force behind FC4S's arrival in Geneva.

More information and links:

UNEP Press Release
FC4S website

For any further information:

Mr Nicholas Niggli, Director-General for Economic Development, Research and Innovation (DG DERI), through Mr Dejan Nikolic, Communication Officer, DSE, T. +41 22 388 31 63 or +41 79 416 84 10.