Financial Stability and Systemic Risk: Lenses and Clocks

This report, produced by IISD, the United Nations Environment Programme Finance Initiative, and The Blended Capital Group, proposes integrating sustainable finance and responsible investment principles into financial stability policies to create a more resilient global financial system.

• The paper advocates for financial policy-makers to incorporate values of trust, responsibility, accountability, and transparency when developing policies for a stable and resilient financial system in globalized markets.
• To improve financial stability, the report suggests that public and private actors in investment and financial intermediation use 'lenses' for a more granular understanding of risks and 'clocks' to better balance short-term quantifiable risks against slow, long-term risks that destroy value.
• The report identifies six specific areas for the re-engineering of the financial system where sustainable finance and investment thinking are relevant: over-the-counter markets (Dark Pools), institutional investor accountability, stock exchange listing requirements, Basel Committee systemic risk and banking, the role of rating agencies, and Solvency II regarding insurance.
• The document builds upon a 2010 zero draft and incorporates policy recommendations made by Gordon Brown to the United Nations Secretary-General's High Level Panel on Global Sustainability in September 2011.

APA

Brown,, P. C.-H. B. R. H. G. (2012). Financial Stability and Systemic Risk: Lenses and Clocks. International Institute for Sustainable Development. https://www.iisd.org/publications/report/financial-stability-and-systemic-risk-lenses-and-clocks-june-2012

Chicago

Brown,, Paul Clements-Hunt,Foreword by Rt. Hon. Gordon. Financial Stability and Systemic Risk: Lenses and Clocks. International Institute for Sustainable Development, 2012. https://www.iisd.org/publications/report/financial-stability-and-systemic-risk-lenses-and-clocks-june-2012.

Wikipedia

{{cite report |last1=Brown, |first1=Paul Clements-Hunt,Foreword by Rt. Hon. Gordon |title=Financial Stability and Systemic Risk: Lenses and Clocks |publisher=International Institute for Sustainable Development |date=23 June 2012 |url=https://www.iisd.org/publications/report/financial-stability-and-systemic-risk-lenses-and-clocks-june-2012 |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{brown2012financial, author = {Brown,, Paul Clements-Hunt,Foreword by Rt. Hon. Gordon}, title = {{Financial Stability and Systemic Risk: Lenses and Clocks}}, institution = {International Institute for Sustainable Development}, year = {2012}, month = jun, url = {https://www.iisd.org/publications/report/financial-stability-and-systemic-risk-lenses-and-clocks-june-2012}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }