Terminal Evaluation of the UNEP Inquiry into the Design of a Sustainable Financial System (PIMS 01661) and Interim Review of the UNEP-GEF Aligning the Financial System and Infrastructure Investments with Sustainable Development (Components 1 and 2). GEF 09775

This report is a Terminal Evaluation of the UNEP project Inquiry into the Design of a Sustainable Financial System implemented between 2014 and 2021 and an interim Review of the UNEP-GEF project Aligning the Financial System and Infrastructure Investments with Sustainable Development (Components 1 and 2) implemented between 2019 and 2022. The projects’ overall development goals were: i) Inquiry: to ‘identify and develop financial market policy and regulatory options, based on global best practice, which would deliver a step change in their effectiveness in channeling capital to green investments’; ii) GEF Project: to build international consensus to align financial systems with the Sustainable Development Goals and catalyse national regulatory actions and regional sustainable infrastructure investments. The evaluation sought to assess project performance (in terms of relevance, effectiveness and efficiency), and determine outcomes and impacts (actual and potential) stemming from the project, including their sustainability. The evaluation has two primary purposes: (i) to provide evidence of results to meet accountability requirements, and (ii) to promote learning, feedback, and knowledge sharing through results and lessons learned among UNEP, and the relevant agencies of the project participating countries.