CONTACT: Barbara Hagenbaugh
Principles Offer Pragmatic Approach for Transition to Low-Carbon Economy
Washington, D.C. – The Financial Services Forum today joined the Institute of International Finance and other leading financial services trade associations in issuing principles to guide a pragmatic approach to financing the U.S. transition to a more sustainable and inclusive low-carbon economy.
Forum members recognize that climate change poses risks to the world’s economy and have taken substantial steps to assess and manage climate risk, finance sustainable projects, and to reduce their own footprints to become carbon neutral. The principles serve as a foundation for continued dialogue and discussions with policymakers.
Forum members are playing a significant role in the transition to a low-carbon economy. This transition will occur over several decades, requiring substantial investment, appropriate policies, and international cooperation. Over the course of this transition, it will be important to support all parts of the economy; to ensure that policies and regulation are based on science, risk, and sound methodologies; and to foster cooperation between the financial services industry and governments to meet shared goals.
The Financial Services Forum is an economic policy and advocacy organization whose members are the chief executive officers of the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, deep and liquid capital markets, a competitive global marketplace, and a sound financial system.
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