9 February 2016

Africa: G20 Green Finance Study Group Meets for the First Time in Beijing

press release

The GFSG will collaborate with other G20 groups and related external initiatives.

On 25-26 January 2016, the first meeting of the newly launched G20 Green Finance Study Group (GFSG) was held in Beijing, China. The meeting was attended by delegations from all G20 members, as well as 5 invited countries and 6 international organisations. This Study Group is co-chaired by China and the UK, with support from the United Nations Environment Programme (UNEP) as secretariat.

This first GFSG meeting was convened to discuss the Study Group's objectives and research subjects as part of the work programme for 2016. Areas of research were decided following a day and a half of discussions, with participants providing insights into the various options.

It was agreed that the GFSG would identify institutional and market barriers to green finance and, based on country experiences and best practices, analyse options on how to enhance the ability of the financial system to mobilize private green investment, thereby facilitating the green transformation of the global economy.

The GFSG will prepare a synthesis report, which will draw from the findings on the selected research subjects, before the July G20 finance minister and central bank governor meeting.

The GFSG will collaborate with other G20 groups and related external initiatives. It will also engage with the private financial community to benefit from its expertise and experience.

The next core meeting of the GFSG will take place in London, United Kingdom on 22 March 2016.

For more information, please contact:

Mahenau Agha, Head of Outreach, UNEP Inquiry: mahenau.agha@unep.org - +4179-105-3614

NOTES TO EDITORS

About UNEP Inquiry

The UNEP Inquiry into the Design of a Sustainable Financial System was established in January 2014 with a mandate to advance policy options that would improve the effectiveness of the financial system in supporting sustainable development.

Supported by a high-level Advisory Council of financial leaders, the Inquiry has looked in-depth at practice in more than 15 countries as well as across key segments of the financial system, such as banking, bond and equity markets, institutional investment, insurance as well as monetary policy. To reach its findings, the Inquiry has worked with central banks, environment ministries, international financial institutions as well as major banks, stock exchanges, pension funds and insurance companies. Its global report, The Financial System We Need, was released in October 2015 and is available at http://unepinquiry.org/

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