LOW FINANCES SERIES

Prime Minister-designate Saad al-Hariri has been at loggerheads with President Michel Aoun over naming ministers since his designation in October. The financial collapse is taking place against a backdrop of fractious politicians bickering over cabinet formation. Most pharmacies staged a two day strike this week as medications run out and hours long car queues for gasoline have frustrated motorists causing squabbles. Some hospitals are ruling out elective procedures and only performing emergency surgeries to ration what is left of medical supplies. read moreįoreign reserves, used to fund a subsidy programme for basic goods including fuel, medicine and wheat, are running out and shortages have been worsening across the board in recent weeks. Green Finance Taskforce report (PDF, 2.The last time the pound hit a low of 15,000 in March protesters took to the streets across Lebanon for over a week, blocking roads by burning tyres.Green Finance Taskforce Terms of Reference ( PDF, 163 KB, 2 pages).

The government has subsequently published the Green Finance Strategy which takes forward the key themes of the taskforce.

LOW FINANCES SERIES

The Green Finance Taskforce report sets out a series of recommendations on how the government and the private sector can work together to make green finance an integral part of our financial services sector. In September 2017, the government asked leading finance expert and former Lord Mayor of the City of London, Sir Roger Gifford, to chair an independent taskforce to accelerate growth of green finance and the UK’s low carbon economy.

On the 2 July, the government and the City of London Corporation launched the GFI to foster greater cooperation between the public and private sectors, create new opportunities for investors, and strengthen the UK’s reputation as a global hub for green finance. Green Finance InstituteĪs the UK’s principal forum for collaboration between the public and private sector with respect to green finance, the Green Finance Institute ( GFI) will play an integral role in supporting delivery of our Green Finance Strategy. It also outlines how we will be coordinating closely with our international partners to achieve our objectives, and areas where government will seek to lead by example.Īn important announcement within the strategy is the launch of the Green Finance Institute. Greening finance: ensuring current and future financial risks and opportunities from climate and environmental factors are integrated into mainstream financial decision making, and that markets for green financial products are robust in natureįinancing green: accelerating finance to support the delivery of the UK’s carbon targets and clean growth, resilience and environmental ambitions, as well as international objectivesĬapturing the opportunity: ensuring UK financial services capture the domestic and international commercial opportunities arising from the ‘greening of finance’, such as climate related data and analytics, and from ‘financing green’, such as new green financial products and services. The Strategy is an ambitious package, bringing together work from across the government, regulators and the private sector. To this end the government has already taken action to implement its recommendations ahead of the publication of this strategy, such as announcing the establishment of the Green Finance Institute ( GFI). The Taskforce is a leading example of the cross-sector collaboration that the strategy seeks to advance. It is informed by the private sector and wider stakeholders, and is, in part, a response to the recommendations of the Green Finance Taskforce, chaired by Sir Roger Gifford. The Strategy supports the UK’s economic policy for strong, sustainable and balanced growth, the delivery of our modern Industrial Strategy and our domestic and international commitments on climate change, the environment and sustainable development. The UK launched the Green Finance Strategy on 2 July 2019.

Low finances