G20 group proposes projects to boost PPPs
1 min read 21 Jun 2023, 09:48 PM ISTThe recommendations, made during the 3rd G20 Sustainable Finance Working Group meeting held on 19-21 June at Mahabalipuram, will be discussed at the Leader Summit in September.
PremiumNew Delhi: The G20’s working group on sustainable finance has recommended a pipeline of projects to promote public-private partnerships, and other initiatives, including a compendium on best practices for financing the UN’s sustainable development goals (SDGs), senior government officials said on Wednesday.
The recommendations, made during the 3rd G20 Sustainable Finance Working Group meeting held on 19-21 June at Mahabalipuram, will be discussed at the Leader Summit in September. This meeting will be attended by G20 finance ministers and central bank governors. “(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 to the finance ministry who chaired the meetings, told the press.
The third and final working group meeting 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.