{"id":3405,"date":"2018-12-06T08:59:50","date_gmt":"2018-12-06T13:59:50","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-announces-u-s-alliance-for-sustainable-finance-usasf\/"},"modified":"2019-08-27T09:31:28","modified_gmt":"2019-08-27T13:31:28","slug":"bloomberg-announces-u-s-alliance-for-sustainable-finance-usasf","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-announces-u-s-alliance-for-sustainable-finance-usasf\/","title":{"rendered":"Bloomberg Announces U.S. Alliance for Sustainable Finance (USASF)"},"content":{"rendered":"
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Leading financial market participants will work to amplify sustainable finance flow\u00a0in the U.S. as part of the UN’s global FC4S Network<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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New York, December 6, 2018<\/em> \u2013 Today, during the inaugural Sustainable Finance Week<\/a> in New York, Bloomberg announced the formation of the U.S. Alliance for Sustainable Finance<\/a> (USASF), convening 15 founding members to drive investment in clean energy and climate resilience projects across the U.S. The alliance will provide the resources and expertise to identify and streamline existing climate-finance initiatives, encourage greater transparency across climate-related financial risks and opportunities, and ultimately, drive more capital to sustainable investments.<\/p>\n

Climate financing plays a significant role in the U.S\u2019s ability to mitigate the global impact of greenhouse gas emissions and meet the goals of the landmark UN Paris Agreement. Financing allows states, cities and businesses to invest in emerging technologies and climate-related projects, encouraging successful initiatives to flourish and scale. Research indicates a sevenfold increase in global clean energy investment \u2014 $2.4T annually versus the current investment levels of $333.5B as estimated by BloombergNEF<\/a> \u2014 is needed to limit the most devastating effects of climate change. USASF member organizations will work together to help direct and increase climate-related financing, simultaneously growing the U.S. economy and supporting the reduction of greenhouse gas emissions.<\/p>\n

USASF\u2019s founding members include Bank of America, BNP Paribas, Citi, Cr\u00e9dit Agricole CIB, Credit Suisse, Goldman Sachs, HSBC, JPMorgan Chase, Macquarie Group, Morgan Stanley, Neuberger Berman, Nuveen, S&P Global, Trillium Asset Management, and Wells Fargo. The USASF will also join the global network of Financial Centres for Sustainability (FC4S) convened by the United Nations Environment Programme.<\/p>\n

The formation of USASF follows United Nations Secretary-General Ant\u00f3nio Guterres\u2019 call to create a new Climate Finance Leadership Initiative supporting global mobilization of private capital.<\/p>\n

\u201cAs a world-class city and leader in innovation, New York is a natural center for the worlds of finance and sustainability to meet and collaborate. We are excited to provide the base for the U.S. Alliance for Sustainable Finance and formally join the UN Environment Programme FC4S Network,\u201d said Mary Schapiro, Vice Chair for Global Public Policy, Bloomberg LP. \u201cUnder the FC4S umbrella our U.S.-based alliance will solidify our efforts to scale private capital in order to meet the goals of the Paris Agreement.\u201d<\/p>\n

USASF will undertake a series of actions, including:<\/p>\n