1.2. Role Of Key Financial Market Players Description and status quo A number of private and public initiatives related to sustainable finance were established in recent years, and in some cases even decades ago, in Germany and with the help of German financial market players, in part with considerable success 8. However, so far Germany has not developed an overarching strategic perspective as to the roles of pivotal financial market players in the context of sustainable finance. Many initiatives act alongside each other without exploiting their synergies. Challenge The financial sector can contribute optimally to the achievement of the aforesaid goals if and when all financial market players arrive at a common understanding of their respective roles and contributions, thus ensuring a coordinated and comprehensive approach. Approaches to action Transfer of the work of the Sustainable Finance Committee to a permanent working structure supported by experts from the financial sector and the real economy, civil society and the scientific community. In close cooperation with the sustainable finance coordination office of the Federal Ministry of Finance, this structure ensures that the effectiveness of the adopted measures is evaluated at regular intervals.
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In Germany this includes the Forum for Sustainable Investments (FNG) and the “Green and Sustainable Finance Cluster� (VfU). Internationally this includes a variety of approaches under the auspices of the United Nations Environment Programme Finance Initiative (UNEP FI) as well as initiatives such as the Principles for Responsible Investment, the Network for Greening the Financial System and the Principles for Sustainable Insurance.
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