UNEP Finance Initiative chief quits to join private sector in responsible investment role

Paul Clements-Hunt has resigned as head of the United Nations Environment Programme Finance Initiative (UNEP FI) – the partnership between the UN and more than 200 financial institutions – to return to the private sector.

“I will quit as head of UNEP Finance Initiative on 29 February, 2012,” he said in a brief statement. He disclosed that he resigned from UNEP on December 21.

He will also step down from the board of the United Nations Principles for Responsible Investment (UN PRI) and from the International Integrated Reporting Committee. He had been involved both initiatives from conception.

“I am returning to the private sector to pursue new opportunities,” he said, adding: “I will remain involved in the sustainable finance and responsible investment space.”Clements-Hunt had headed Geneva-based UNEP FI since 2000.

“I believe that UNEP FI has contributed significantly to the evolution of thinking, ideas, and standards around sustainable finance and responsible investment since 1992,” he said.

“Some things are worth fighting for and financial stability that delivers sustainability is one of them.”

He went on to say that the financial crisis has made it a challenge to make sustainable finance and responsible investment an integral part of markets.

“Some things are worth fighting for and financial stability that delivers sustainability is one of them.”