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December 05, 2022

Group of Twenty (G20) Sustainable Finance Working Group (SFWG) wraps up key recommendations to scale up sustainable finance

G20 SFWG concludes the year with key recommendations to scale up sustainable finance.

The Fourth SFWG held in Bali on 26 – 27 September 2022 via hybrid basis, discussed the progress of compiling the main deliverable for this year’s SFWG, namely the 2022 G20 Sustainable Finance Report, and aimed at jointly agreeing on the report’s final draft.

In particular, the meeting: (i) explored the framework for transition finance; (ii) improving the credibility of financial institution commitments; and (iii) scaling up sustainable finance instruments, with a focus on improving accessibility and affordability.

The SFWG also emphasized its series of work this year, particularly on identifying solutions to the transition to a green and low-carbon future.

The result of the two-day meeting will serve as inputs for the 4th FMCBG meeting, to be held in Washington DC in October 2022, and the G20 Leader’s Summit, which will be held in Bali in November 2022.

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