GUWAHATI: Sustainable Finance Working Group (SFWG) under G20 to kickstart today in Guwahati aims to mobilise sustainable finance to help ensure global growth and stability and promote the transition towards a greener, more resilient, and inclusive societies and economies.
The working group was constituted under the Italian Presidency in 2021. The Italian Presidency saw the finalisation of the G20 Sustainable Finance Roadmap with a mandate to help scale up sustainable finance, to support the objectives of the United Nations 2030 agenda and goals of the Paris Agreement. Roadmap for Sustainable Finance acts as a building block and foundation stone for guiding presidencies to set their respective future priorities.
The Indonesian presidency took forward the work of Roadmap by working on its dedicated priority areas around developing a transition finance framework, scaling up sustainable finance instruments, with a focus on accessibility and affordability; and discussing policy levers that incentivise financing and investment that support the transition.
Continuing the work on Sustainable Finance, during India’s G20 Presidency, the broad focus would be mechanisms for mobilisation of timely and adequate resources for climate finance, enabling finance for the Sustainable Development Goals, and capacity building of the ecosystem for financing toward sustainable global growth.