International Experiences in Green Finance Development

17 Green Finance Ecosystem in London Type Organization Function International organization International Financial Reporting Standards (IFRS) Foundation Not-for-profit organization responsible for developing global accounting and sustainability disclosure standards, known as IFRS Standards International Sustainability Standards Board (ISSB) Independent, private-sector body that develops and approves IFRS Sustainability Disclosure standard widely used as the unitary standard in the world Glasgow Financial Alliance for Net Zero (GFANZ) World’s largest coalition of financial institutions committed to transitioning the global economy to net-zero greenhouse gas emissions Task Force on Climate- related Financial Disclosures (TCFD) Improves and increases reporting of climate-related financial information Pillar 1 aims to reinforce information transparency in the market in relation to information disclosure, the green taxonomy, the transition plan and credible climate change. Pillar 2 seeks to mobilize capital for the green economy from both public funds and private social funds. Pillar 3’s goal is to build the UK’s global leadership, to work as the world coordinator for different standards and strengthen mutual understanding, as well as to create strong standard organizations to serve the whole world, such as the CDP and so on.