More than 90 delegates will meet to discuss the agreed work plan and priority areas for 2023
The second meeting of the G20 Sustainable Finance Working Group (SFWG) under India’s G20 chairmanship will be held in Udaipur, Rajasthan from March 21 to 23, 2023. During the three-day meeting in Udaipur, more than 90 delegates from various countries, G20 members and also those invited by the Indian Presidency along with international organizations will engage in detailed negotiations on an agreed work plan and priority areas for 2023.
The first G20 Sustainable Finance Working Group (SFWG) was held in Guwahati, Assam on 2-3 February 2023, where members showed broad support and cooperation for the SFWG work plan in 2023.
The second meeting of the G20 Working Group on Sustainable Finance is expected to take discussions forward and review key learnings from previous meetings with respect to the three identified priority areas viz.
Mechanisms for mobilizing timely and adequate resources for climate finance;
Enabling the financing of sustainable development goals; and
Building Ecosystem Capacity for Financing Towards Sustainable Development.
Two workshops were planned on the sidelines of the meeting, the so-called
G20 Workshop on Non-Price Policy Levers to Support Sustainable Investment a
G20 Seminar on Enabling Financing of the Sustainable Development Goals.
These workshops are expected to facilitate the exchange of ideas, experiences and know-how from technical level experts for in-depth discussions and insights on relevant topics.
G20 Workshop on Non-Price Policy Levers to Support Sustainable Investment, to be held on 21 March 2023. This workshop will focus on better understanding the effectiveness of non-price policy levers in enabling low-carbon development with due regard to national conditions and nationally defined development priorities. On the other hand, on March 22, 2023, the G20 Seminar on Enabling Financing for the Sustainable Development Goals will be held, which aims to build better understanding among G20 members and strengthen policy and other recommendations for better financing of the Sustainable Development Goals. This is the first time that the SFWG is moving beyond climate-related issues to engage in a dialogue to enable better financing of selected SDGs primarily through nature-related data and reporting and social impact investments.
As a prelude to the second G20 Sustainable Finance Task Force, various ‘Jan Bhagidari’ events are being organized in Udaipur between 18-23 March 2023 to raise awareness of India’s G20 Presidency. These events include a town hall meeting for SME entrepreneurs, a workshop on Bridging the SDGs Financing Gap: Role of Microfinance at IIM Udaipur, a conference on ‘Green Finance-A Way Forward’, a digital banking education programme, a meeting on cyber hygiene and cyber of Security, G20 Financial Literacy Walkathon, Financial Literacy Camp, Coin/Note Exchange Mela and Awareness Program of Office of RBI Ombudsman (ORBIO), Jaipur.
A side home event is also being organized before the 2nd SFWG meeting on “Experience sharing on climate budget labeling (CBT)” on 20 March 2023. The workshop will discuss initiatives taken at international and domestic levels in labeling climate-related spending. in order to better monitor these activities. The event will be chaired by the Finance Minister, Government of India with the participation of international experts and state/central government officials.
Delegates will experience the rich culture and heritage of Udaipur through specially tailored excursions, cultural events and local cuisine.
