ABSTRACT
When the agreement on the 2030 agenda for sustainable development and its Sustainable Development Goals (SDGs) was reached in September 2015, many heralded the dawning of a new era, the beginning of a braver, more equal, and sustainable world. In addition, the complexity of the SDGs framework, when combined with the growing popularity of the sustainability movement, may give rise to episodes of free riding behavior. With the “sustainability wave” on the continuous rise, it has become difficult to distinguish genuine efforts to reform from those of actors that are simply updating their marketing strategies to exploit the latest corporate fad, without really changing how their business operates. Sustainable finance is part and parcel of the collaborative approach promoted by SDG17. Its proper functioning requires serious and committed financial players, competent and efficient regulators, responsible citizens and a historic paradigm shift to achieve the overall goal of channeling existing financial flows toward bankable sustainable development projects.
