CHENNAI: The third meeting of the sustainable finance working group (SFWG) under G20 will be held in Mahabalipuram from June 19 to June 21. The meeting will focus on finalising recommendations for deliverables on three priority areas in the G20 Sustainable Finance Roadmap - mobilisation of resources for climate finance, enabling finance for the sustainable development goals (SDG) and capacity building of financing toward sustainable development.
The meeting will bring together around 100 delegates from G20 member countries, invitee countries and international organisations. According to a release from the Union Government, SFWG will develop list of options to support climate investments and transition activities that includes policy initiatives to support private investment in green and low-carbon technologies.
“The major challenges to scaling up climate finance include limited availability of concessional funding, complexities in utilising de-risking facilities and lack of bankable projects. Enabling greater capital flows for advancing early-stage technologies focused on adapting and building resilience to climate change also remains a challenge,” the report reads. It is the first time that the sustainable finance working group has undertaken work on financing SDGs in addition to climate finance.