The United Nations Environment Programme (UNEP) launched an Inquiry today into policy options for guiding the global financial system to invest in the transition to a green economy. In the wake of the global financial crisis, there is growing recognition that the financial system must be not only sound and stable, but also sustainable in the way it enables the transition to a low-carbon, green economy. The Inquiry, extending over 18 months to mid-2015, aims to engage, inform and guide policy makers, financial market actors and other stakeholders concerned with the health of the financial system and its potential for shaping the future economy. David Pitt-Watson, Co-Chair of UNEP FI, said: “The world’s financial institutions are there to finance a growing, sustainable economy, but the evidence suggests that, today, the industry performs that task poorly. The Inquiry will support the urgent need to reshape a practical and agreed agenda of reform that ensures that the finance industry fulfills its purpose.” More information here.