1、Challenges of Green Finance ReportPrivate Sector Perspectives from Emerging Markets NOVEMBER 2023About IFCIFCa member of the World Bank Groupis the largest global development institution focused on the private sector in emerging markets.We work in more than 100 countries,using our capital,expertise,

2、and influence to create markets and opportunities in developing countries.In fiscal year 2023,IFC committed a record$43.7 billion to private companies and financial institutions in developing countries,leveraging the power of the private sector to end extreme poverty and boost shared prosperity as e

3、conomies grapple with the impacts of global compounding crises.For more information,visit www.ifc.org.Challenges of Green FinancePrivate Sector Perspectives from Emerging Markets Page 2CHALLENGES OF GREEN FINANCEACKNOWLEDGEMENTS The authors of this report are Dimitri G.Demekas,Adjunct Professor at t

4、he School of International and Public Affairs,Columbia University,and Visiting Senior Fellow at the School of Public Policy,LSE;and Jessica Stallings,a sustainable finance consultant in IFCs Macro and Market Research unit.This report was prepared under the guidance of IFCs Jean Pierre Lacombe,Direct

5、or,Global Macro and Market Research.In addition,the report has benefited from comments by Jeffrey Anderson,Sabin Basnyat,William Beloe,Jamie Ferguson,Facundo Martin,Kaikham Onedamby,and Rhong Zhang(all IFC).Brian Beary and Chris Vellacott edited the report,and Irina Sarchenko was responsible for gra

6、phics and design.Page 3 CONTENTSExecutive Summary 4Introduction 6I Context:Common Characteristics of Financial Sectors 10II Challenges of the Operating Environment 14III The Role of Taxonomies and Disclosures 17IV Challenges Related to the Regulatory Environment 21V Looking Forward:Risks from the Pe