First meeting of Sustainable Finance Working Group under G20 begins in Guwahati

The firstever G20 meeting in Assam began on Thursday with Union Minister Sarbananda Sonowal inaugurating the twoday event which will deliberate on sustainable financing solutionsMore than 100 delegates including 95 foreign officials comprising representatives of G20 nations guest countries and international organisations have assembled in Guwahati for the discussions of the influential world groupingTodays meeting being held in the vicinity of this magnificent land of Guwahati has a special meaning to it as communities from diverse ethnicity and culture socially coexist in harmony with nature through sustainable practices Sonowal said during his inaugural speechThe G20 group through the 1st Sustainable Finance Working Group Meeting SFWGM in Guwahati is sharing a timely message of sustainable finance to maximise sustainable investment the Union Shipping Ports and Waterways Minister saidAs the world continues to battle the fragilities of our fundamental global systems exposed more so by COVID19 Indias G20 Presidency has come at a crucial midpoint of the United Nations 2030 Sustainable Development Goals SDGs agendaIt is most opportune for our nation to catalyse a fundamental mindset shift and benefit humanity by acting collectively and together he addedAlso Read India set to host foreign ministers of G20 countries in MarchThe Union minister who hails from Assam also highlighted various initiatives undertaken by the Indian government for sustainable development in different sectors to fight increasing climate change impactsThere is an increasing sense of urgency and call for action about putting the global economy on a path towards sustainable development No doubt implementation of SDGs in the face of climate change is a priority for governments around the world Sonowal saidHe however stressed that enormous amounts of financial resources and investments are needed to finance sustainability and climate related activitiesResearch suggests that billions and trillions of dollars need to be mobilized if we hope to achieve the 2030 Agenda for sustainable development as well as the goals of the Paris Agreement for climate action Sonowal saidPlugging this massive finance gap will require a coordinated effort between the public and private sectors and from the local to the global level he addedI am sure that our Presidency can steer the empowerment of international institutions that respond to the realities of the 21st century and direct global governance in the decade of action to deliver the SDGs Sonowal saidThe social cost of not achieving the SDGs should urge us to join efforts and make use of synergies to reach a better world for current and future generations he appealed to the members of the groupingIndias G20 agenda promises to be inclusive ambitious actionoriented and decisive and of humancentric globalisation Let us join together to make Indias G20 Presidency a presidency of healing harmony and hope the Union Minister saidThe three main agendas of the Guwahati edition of SFWGM are mobilisation of timely and adequate resources for climate finance enabling finance for the sustainable development goals and capacity building of the ecosystem for financing sustainable development Ministry of Finance MoF Adviser Geetu Joshi saidMoF adviser Chandni Raina said the G20 Sustainable Finance Working Group aims to mobilise sustainable finance to help ensure global growth and stability and promote the transition towards greener more resilient and inclusive societies and economiesThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever