G20 Call For Global Common Framework To Finance Sustainable Development Goals

At the recent G20 Finance Ministers and Central Bank Governors Meeting in Bengaluru, India, attendees called for the creation of a common global framework to facilitate financing the United Nations' Sustainable Development Goals (SDGs). The agreement reached at the meeting, held on February 24-25, 2023, calls for the G20's Sustainable Finance Working Group (SFWG) to develop an analytical framework for enabling finance for SDGs "with initial focus on nature-related data and reporting and social impact investing, taking country circumstances into consideration."

Originally launched in 2016 as the Green Finance Study Group and subsequently renamed the Sustainable Finance Study Group in 2018, the re-establishment of the SFWG was endorsed by the G20 Finance Ministers and Central Bank Governors on April 7, 2021. The SFWG Terms of Reference states that the "SFWG will identify barriers to sustainable finance and develop voluntary and inclusive options for aligning