Rethinking Bretton Woods | Wed, Sep 28, 2016
In a new guest article for the International Institute on Sustainable Development, “China Leads G20 into Green Finance Reflection: To be continued?”, RBW Project Director Aldo Caliari commented on the G20 Hangzhou Summit outcomes on green finance.
In an innovative and promising development from the Leaders of the Group of 20 (G-20), this year's meeting in Hangzhou, China, on 4-5 September 2016, considered conclusions from a Green Finance Study Group (GFSG) that this year deliberated for the first time. The Leaders' Communiqué offers some indications of G-20 governments' commitment to a green finance that truly allows environmental considerations to influence financial ones.
“Perhaps one year of the GFSG is not enough time to tell whether it will exert influence on the outputs of the G20’s Working Groups on finance. But the significance of China's resolve to place the GFSG under the finance track of the G20, and ensure that environmental concerns would permeate financial ones, cannot be overstated,” he said.