Green Finance, G20 and Developing Countries
Date: 09 Jan 2017
GreenInvest Launch Under Germany’s G20 Presidency
Singapore, 9-10 January 2017
GreenInvest was established at the G20 Leaders Summit in Los Cabos, Mexico, in 2013 to accelerate investment in green priorities in developing countries. Since then, green finance has risen up the agenda of both policymakers and markets.
GreenInvest was relaunched under the German G20 Presidency to strengthen the connection between green finance momentum and the insights, innovations and needs of developing countries. It will engage developing country actors in dialogue and action, facilitate their contribution to key international developments, and seek to ensure that such developments take account of the specific needs of developing countries.
The Singapore Consultation relaunched GreenInvest and advanced each of its specific goals and themes. The Singapore Consultation was the first of three planned under the German G20 Presidency, and initiated for the first time dialogue on:
- How international initiatives on sustainable finance can work to improve their coordination and information sharing.
- How developing countries discuss and contribute to the work of the FSB Task Force on Climate-related Financial Disclosures.
- How green FDI can best be shaped through work planned going forward involving UNCTAD and other expert institutions.
- How the nexus between green finance and fintech – specifically for developing countries – can be exploited as a policy and market opportunity.
The meeting in Singapore gathered some 25 participants from non-G20 developing countries, a handful from G20 countries, coordinators of the key networks on green and inclusive finance and representatives of key international organizations.
The meeting was held at the Singapore Management University (SMU), and drew in parts on the Singaporean financial community, as well as tapped in particular representatives from G20 countries such as Indonesia.
A report of the meeting is available here.