Our commitment to bridging differences among members is key to determining our future attempts...Jakarta (ANTARA) - The fourth Sustainable Finance Working Group (SFWG) meeting focused on preparing the final draft of the 2022 G20 Sustainable Finance Report, which is expected to seek an increase in public and private participation in sustainable finance.
"Our commitment to bridging differences among members is key to determining our future attempts and ensuring that all (parties) can play a role in encouraging the recovery process towards a sustainable future," Head of the Center for Climate Change and Multilateral Financing Policy at the Fiscal Policy Agency of the Finance Ministry Dian Lestari said in an official statement received here on Wednesday.
Lestari is the co-chair of the 2022 SFWG. The meeting of the SFWG in Bali on September 26–27, 2022, was organized under the Finance Track of the Indonesian G20 Presidency to encourage the implementation of sustainable finance to ensure stable global economic growth and promote the financial transition toward a greener, more resilient, and more inclusive economy.
Meanwhile, Head of the International Policy Group of Bank Indonesia Haris Munandar highlighted the importance of a sustainable financial transition framework and the credibility of financial institutions' commitments to achieving net zero emission targets.
At the close of the meeting, co-chairs Larry McDonald, an official from the United States Department of the Treasury, and Ma Jun, advisor to the Governor of the People's Bank of China, thanked Indonesia for leading the SFWG to successfully achieve the expected results.
“The SFWG has carried out various important discussions and works this year (2022), following up the establishment of the foundation of the Sustainable Finance Road Map in 2021. Through a series of discussions this year, various stakeholders from developed and developing countries around the world are able to identify better solutions to encourage a green transition towards a low-carbon future," the Chinese official said.
McDonald also expressed his gratitude to Indonesia and all members of the G20 for their year-long constructive cooperation in expediting the sustainable finance agenda.
Meanwhile, Geetu Joshi, an official from the Indian Finance Ministry, noted the importance of the role of Indonesia’s G20 Presidency in continuing the working group’s 2021 priority agenda.
Under Indonesia’s G20 Presidency, the SFWG has been committed to supporting an orderly, fair, and affordable financial transition by encouraging collective action and developing best practices to achieve the targets of the 2030 Sustainable Development Goals (SDGs) Agenda and the Paris Agreement.
Translator: Sanya Susanti, Uyu Liman
Editor: Rahmad Nasution
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