28 January 2016: The Green Finance Study Group (GFSG) and the Energy Sustainability Working Group were among the first meetings held under China’s presidency of the Group of 20 (G20). The meetings took place in January 2016, and focused on the agenda for the year ahead, with the GFSG agreeing to prepare a synthesis report on the role of the financial system in mobilizing private green investment, in advance of the G20 finance ministers and central bank governors meeting in July 2016.
The GFSG met from 25-26 January, in Beijing, China, to agree on its objectives and research themes under the Group’s 2016 work programme. The newly-established GFSG is co-chaired by the People’s Bank of China and the Bank of England, with the UN Environment Programme (UNEP) acting as the secretariat. The first meeting gathered representatives of G20 members, guest countries and international organizations.
The group agreed to work on identifying: institutional and market barriers to green finance; and options for enhancing the ability of the financial system to mobilize private green investment. The group will prepare a synthesis report on related findings for the third G20 finance ministers and central bank governors meeting in 2016, scheduled to take place from 23-24 July in Chendgu, China.
The GFSG also agreed it will collaborate with other G20 groups and relevant external initiatives, and engage with the private financial community to draw from its expertise.
The Energy Sustainability Working Group met on 28 January, in Xiamen, China, hosted by the National Energy Administration of China. Approximately 150 delegates from G20 members, guest countries and international organizations held an initial discussion on, inter alia, energy access, clean energy, energy efficiency, global energy governance, and the implementation of previous commitments. Participants agreed to work to further progress on these issues through the G20 energy agenda for 2016.
Forthcoming G20 meetings in 2016 related to climate change and sustainable energy include: monthly meetings of the GFSG, with the next meeting planned for 22 March 2016, in London, UK; three meetings of the Energy Sustainability Group, with the second meeting planned for 12-14 April 2016, in Shenzhen, China; and three meetings of the Climate Finance Study Group, with the next meeting planned for April 2016.
The G20 is an international forum for the governments and central bank governors from 20 major economies. It includes the European Union (EU), which is represented by the European Commission and the European Central Bank, and 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, the UK and the US. [G20 Press Release on GFSG] [UNEP Press Release on GFSG] [G20 Press Release on Energy Sustainability Working Group] [G20 Draft Meetings Calendar for 2016]