On behalf of the UK, we co-founded and are co-chairing the G20 Green Finance Study Group (GFSG) with the People’s Bank of China, and the UN Environment (UNEP) Inquiry as secretariat. Recognising the need to scale up green finance and to deploy tens of trillions of dollars over the coming decade, the study group’s mandate is to ‘identify institutional and market barriers to green finance and, based on country experiences, develop options on how to enhance the ability of the financial system to mobilize private capital for green investment’.
Working closely with HM Treasury, we co-chaired four study group meetings during 2016 and supported a range of related private-sector events. The study group’s Synthesis Report was welcomed at the July 2016 G20 leaders’ summit Chengdu, China and was published at China’s G20 Summit in September 2016.
Under the German presidency in 2017, the GFSG advanced two areas of research. First, the integration of environmental risk analysis into the financial system and second, identifying publicly available environmental data that can be applied to financial decision making. The study group’s Synthesis Report, as well as background papers on environmental risk analysis, publicly available environmental data and a progress report on green finance, were presented and acknowledged at the G20 leaders’ summit in Hamburg.
Both years’ synthesis reports, as well as background papers and related G20 documents, can be found in the G20 GFSG repository.