The 2025 G20 presidency of South Africa is a significant undertaking for the nation, the African continent, and developing countries as a whole.
Given the G20's significant impact on global finance and economics, it is particularly crucial for mobilising the necessary funds for climate and development initiatives, as demonstrated by several factors:
The G20 Finance Track which convenes meetings of the Ministers of Finance and Governors of Central Banks of countries which represent approximately 80% of the world’s GDP.
The Financial Stability Board (FSB) getting its mandate from the G20, leading to highly influential developments that have not only affected the financial sector such as the Task Force on Climate-Related Disclosure (TCFD) which led to global corporate accounting rules for climate.
The Sustainable Finance Working Group (SFWG) whose roadmap includes actions on prudential regulation.
Despite being a think tank, ZeniZeni Sustainable Finance joined civil society organizations in sending a letter to DIRCO and other important ministries. The letter detailed climate and development priorities for South Africa's G20 presidency. Our participation ensured that the restructuring of the private financial sector was prioritised as a key demand.
Read the letter below.
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