Under the Italian Presidency, the Thematic Group on Financing for Sustainable Development: INFFs framework, principles for financial instruments and a common vision on SDG alignment was chaired by the Troika – Indonesia, and met three times:
Dates of the meetings
- First meeting 31.03.21
- Second Meeting 05.05.21
- Third Meeting 10.06.21
The Italian Presidency involved a wide range of development actors and main stakeholders with the aim to leverage the expertise of G20 members, relevant international organizations, and partner countries to advance the discussions and increase the impacts of the DWG on the identified priorities.
These meetings were attended by international organizations (UNDP, OECD, UNCTAD, ILO, UNIDO, UN Women), regional organizations (ASEAN, AUDA/NEPAD, ECLAC), multilateral development banks (World Bank Group, Inter-American Development Bank, Islamic Development Bank, Central American Bank for Economic Integration, African Development Bank, West African Development Bank and Asian Development Bank), by partner countries reporting on INFF (Ghana, Colombia, Kenya, Zambia); by G20 Engagement Groups (B20, C20, L20, T20, W20, Y20), by Italian relevant actors like Cassa Depositi e Prestiti, Caritas, Italian Agency for International Cooperation and representatives of the Italian G20 Finance Track (International Finance Architecture Working Group)
The TWG on Financing for Sustainable Development focused on the following components of the DWG deliverable:
- G20 Framework to support a greater uptake and operationalization of the Integrated National Financing Frameworks (INFFs) for SDGs Finance and COVID-19 Recovery in developing Countries
The Framework is built upon recommendations of the “UNDP Stocktake Report on INFF” and aims at strengthening in developing countries links between medium-term development plans and financing strategies that mobilise and align public and private finance with sustainable development.
- G20 High-Level principles on scaling up Sustainability related financial instruments in developing Countries
To further encourage and advance SDGs investment in developing countries, the DWG has developed, during the Italian Presidency, the G20 High-Level principles on scaling up sustainability related financial instruments, which build on the “OECD Stocktake Report on Scaling-up, Green, Social and Sustainability Bond Issuances in developing Countries”.
- G20 Common vision and voluntary reporting principles for SDGs alignment of fiscal space
The Common vision complements the Finance Track work contributing to a process to encourage SDG alignment of the use of available fiscal space. This common vision and voluntary reporting principles can be applied gradually, on a voluntary and case-by-case basis and without imposing any new ‘SDG compliance’ conditionalities, including to review the extent to which liquidity support initiatives allowed for reducing the compression of SDGs spending in 2020 and 2021. Pilots at country level can facilitate the application of such vision and reporting principles.