Innovative Finance Towards Low Green House Gas (GHG) Emission and Climate Resilience Future
A financial policy recommendation towards a sustainable future
To achieve the objectives of the Paris Agreement and the 2030 Agenda, a systemic transformation of finance involving all stakeholders is necessary. The G20 members, representing a significant portion of the global economy, population, and greenhouse gas emissions, have a crucial role to play. They need to mobilize and shift finance towards green activities, scale up climate-friendly investments, reduce counterproductive subsidies, and create barriers for non-aligned investments. By accelerating technology solutions and industrial development programs in areas like green energy and resilient infrastructure, the G20 can generate co-benefits such as protecting ecosystems and biodiversity. It is essential to leverage existing and innovative finance instruments, invest smartly, and prioritize climate benefits while ensuring a just transition for vulnerable groups. This study provides recommendations to improve policy-finance interaction, including improving standards, mobilizing private sector capital, and integrating development aspects into climate finance. By implementing these recommendations, the G20 can drive the transition towards a sustainable future.