G20 SFWG recommends projects to develop PPPs, best practices to finance SDGs
The recommendations made during the Third G20 Sustainable Finance Working Group held between 19-21 June at Mahabalipuram will be discussed at the Leader Summit in September
New Delhi: The G20 Sustainable Finance Working Group has recommended the development of a pipeline of projects to promote public-private partnerships, and other initiatives, including compendium on best practices for financing Sustainable Development Goals (SDGs), senior government officials said after the conclusion of the third working group meeting on Wednesday.
These recommendations made during the Third G20 Sustainable Finance Working Group held between 19-21 June at Mahabalipuram will be discussed at the Leader Summit in September. This meeting will be attended by various finance ministers and central bank governors of G20 working Groups.
"(We have) Broadly made recommendations for a list of options to expand de-risking facilities, as well as policies and financial instruments, to support private capital for investments in green and low carbon technologies," Geetu Joshi, Adviser, IER, DEA, Ministry of Finance said during a media briefing.
"There are recommendations for the analytical framework for SDG-aligned finance which will complement the G20 sustainable finance roadmap consisting of recommendations on nature related data and reporting and social impact investment(s)," added Joshi, who held the chair position for the meetings.
The third and final working group meeting of the G20 Sustainable Finance Working Group brought together about 100 delegates from G20 member countries, other invitee countries and international agencies. It aims to develop a roadmap to support climate investments including policy initiatives to support private investment in green technologies.
The first G20 Sustainable Finance Working Group was held between 2-3 February, 2023 in Guwahati, while the second was held at Udaipur, Rajasthan between 21-23 March, 2023.
The Sustainable Finance Working Group meetings are part of India's G20 presidency, which will culminate into the 18th Head of State and Government Summit of the G20 that will be held in September.
"They were recommendations on innovative technologies to scale up social impact instruments. The need (is) to have specialised intermediaries to fund the SDGs, and greater experience sharing among members," Joshi said.
"We are going to come out with a lot of financing models, (which the private sector has been successful at)," she added.
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First Published:21 Jun 2023, 08:50 PM IST
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