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G20 SFWG meet begins in Kashi, delegates discuss finance roadmap | Varanasi News – Times of India

VARANASI: The two-day G20 Sustainable Finance Working Group (SFWG) meeting under India’s presidency began in Varanasi on Wednesday with special focus on finalizing the 2023 G20 sustainable finance report. The delegates also discussed the progress made by jurisdictions, IOs and relevant stakeholders against actions listed out in the G20 sustainable finance roadmap.
Over 80 delegates from G20 member countries, special invitee countries and international organisations discussed key areas of the G20 sustainable finance roadmap in three sessions.
The main purpose of the SFWG is to help scale up private and public sustainable finance and in so doing, accelerate the implementation of the Paris Agreement and 2030 Agenda for Sustainable Development. The working group is co-chaired by US and China and UNDP serves as the secretariat.
Three priority areas have been outlined for the SFWG under India’s G20 Presidency. One, Mechanisms for mobilisation of timely and adeq uate resources for climate finance. Two, enabling finance for the Sustainable Development Goals; and three, apacity building of the ecosystem for financing toward sustainable development.
These priority areas reflect India’s focus on sustainability and the theme of India’s G20 Presidency “Vasudhaiva Kutumbakam” or ‘One Earth. One Family. One Future’
The G20 New Delhi Leader’s Declaration 202 3 which was adopted in the Leader’s Summit held recently, has welcomed the work underta ken by the SFWG under India’s G20 presidency.Further, Leaders also endorsed the multi-y ear G20 Technical Assistance Action Plan (TAAP) and the voluntary recommendations made to overcome data-related barriers to climate investments.
The discussions in the fourth SFWG meeti ng in Var anasi will continue to build on the first three meetings held in Guwahati, Udaipur, and Mahabalipuram respectively, to jointly adopt the 2023 G20 Sustainable Finance Report. The Report will consist of the recommendations welcomed by the Leaders along with two compendia, viz, case studies on finan cing SDGs and on non-price policy levers to su pport sustainable investments. Furthermore, the key highlight of the 4th S FWG m eeting will be reflections and sharing of experiences by G20 members and IOs on the progress made in the imp lementation of the G20 Sustainable Finance Roadmap.

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