一般社団法人環境金融研究機構 | Research Institute for Environmental Finance: RIEF

　パリ協定の2条1項（c）には、「金融の流れを低温室効果ガス排出と気候レジリエントな発展に向かう進路と整合させる」と記載されている。本論文は同規定の形成過程を分析することで、「気候整合的なゴールと、グローバル金融の転換」の意味を解きほぐすことを目指している。

著者は：

Frankfurt School of Finance & Management, Luis H. Zamarioli

Utrecht University, Pieter Pauw

 Vrije University Amsterdam, Michael König

 University College London, Hugues Chenet

 Controversy remains over the climate consistency of finance flows despite its centrality in the Paris Agreement (Article 2.1(c)). Two main interpretations dispute the goal’s reach, threatening its transformational potential. If left unresolved, the controversy may also mask trade-offs, allowing for unintentional harm to countries already vulnerable to climate change. Here we build on four methods to show that Art. 2.1(c) comprises a new meaning of ‘finance’ under the United Nations negotiations. In contrast to climate finance provision to developing countries (Art. 9), the climate consistency of finance flows represents a purpose that relies on support and action to transform the global financial system. Implementation of Art. 2.1(c) requires engagement by governments and non-state actors, including the financial sector. While solutions for Art. 2.1(c) will need to be adequate for countries’ contexts, accounting of trade-offs should ensure some level of convergence towards a global, timely and equitable progress towards climate consistency of finance flows.