[ad_1]
The implementation of sustainable finance will proceed regardless of the present rising international challenges, not solely as a result of pandemic, but in addition from the battle in Ukraine, Kacaribu added.
“Truly within the G20 and G7, the push for a sustainable finance agenda and likewise extra particularly, the monetary transition, is getting stronger,” he famous on the CSIS World Dialogue 2022 right here on Thursday.
Each G20 and G7 international locations are inspired to construct consensus on sustainable finance amid the battle in Ukraine and worth inflation, together with rising power costs, he emphasised.
Based on him, the disaster has inspired G20 international locations, particularly the G7 in Europe, to allocate sustainable funds to speed up the power transition.
He stated that European international locations have been impacted by rising power costs as a result of battle in Ukraine. As an example, Germany is desiring to speed up the transition to greener power.
“And this is a superb improvement within the G20 Sustainable Finance Working Group (SFWG),” Kacaribu stated.
Associated information: G20: WEF outlines three proposals for ‘win-win’ digital financial system
The discussions on sustainable finance are at the moment being led by the US and China, who’re discussing sustainable funding for their very own international locations and growing international locations.
At the moment, about 68 % of Indonesia’s electrical energy wants and people of most Asian international locations are nonetheless met by coal-based power, Kacaribu identified.
“However once more, the transition from fossil gas power to greener power is essential. Not solely in the long term, nevertheless it should even be accelerated beginning right now for the medium time period,” he stated.
Based on the G20 SFWG web site, the Sustainable Finance Working Group will focus on three key matters in 2022, that are aimed toward growing a framework for transition finance, bettering sustainable finance devices, in addition to figuring out coverage levers for funding to help the transition.
Associated information: Indonesia pushing G20 discussions on cross-country knowledge flows
[ad_2]
Source link