The 2025 G20 works under a clear vision: Solidarity, Equality, Sustainability. We are thrilled to witness South Africa’s G20 Presidency advancing its sustainable finance agenda, building on the foundations laid by previous presidencies.
The G20 SFWG work during South Africa presidency aims to reinvigorate solidarity and the multilateral system, while promoting fair treatment, opportunities, and advancement for everyone, and working towards the inclusive achievement of the sustainable development goals (SDGs). These efforts include fostering technological development and integrating the world’s less-developed regions into a thriving, interconnected global economy.
G20 Sustainable Finance Working Group Begins Work with its First, Online Meeting
The G20 Sustainable Finance Working Group (G20 SFWG) has officially begun its journey under the South African Presidency. During the inaugural G20 SFWG meeting, three key priorities for 2025 were discussed and largely supported by G20 SFWG members:
Strengthening the global sustainable finance architecture
Scaling up financing for adaptation and just transitions
Unlocking the financing potential of carbon markets
These priorities represent a commitment to driving sustainable growth, enhancing climate resilience, and supporting a just global transition. Stay tuned throughout 2025 as we follow closely the work of G20 SFWG and progress made on these priorities.
For more information check out the full G20 SFWG 2025 Note on Agenda Priorities.
2025 G20 SFWG Overview of Priorities
Priority 1 | Strengthening the global sustainable finance architecture
The G20 Sustainable Finance Working Group (G20 SFWG), under the South African Presidency, is working to strengthen the global sustainable finance architecture.
The priority focuses on improving collaboration among multilateral development banks (MDBs), national development banks (NDBs), Vertical Climate and Environmental Funds (VCEFs), and private sector actors to increase resource mobilization, benefit from complementary institutional strengths, improve projects quality, and better align financing with national priorities. Deliverables will include:
- A compendium of successful co-financed projects.
- Recommendations to scale up co-financing and mobilize private sector funding.
- A progress report on the implementation of the Independent High-Level Expert Group (IHLEG) Review of the Vertical Climate and Environmental Funds.
Priority 2 | Scaling up financing for adaptation and just transitions
Under the South African Presidency, the G20 Sustainable Finance Working Group (G20 SFWG) is addressing barriers to scaling adaptation finance and just transitions through three key focus areas:
Incorporating adaptation and resilience considerations into transition plans. Recommendations will provide high-level guidance for financial institutions and corporates, focusing on metrics, targets, and key performance indicators to support climate resilience and accountability.
Identifying and addressing insurance protection gaps. Specific attention will be given to the role of government, private insurance companies and financial sector regulators. The deliverable will provide recommendations on how to tackle current capacity and data gaps. The SFWG will also reflect on how these outcomes may apply to other climate-related insurance protection gaps.
Scaling up adaptation funding mechanisms. The SFWG will analyze barriers such as climate risk pricing, capacity gaps, and public-private mobilization challenges. Deliverables include case studies on financial instruments and recommendations to expand adaptation finance, particularly in key sectors like water, agriculture, and climate-resilient infrastructure.
Priority 3 | Unlocking the financing potential of carbon markets
In 2025, the G20 Sustainable Finance Working Group (G20 SFWG) is focused on unlocking the financing potential of carbon markets under the South African Presidency.
This work aims to develop a Common Carbon Credit Data Model to improve transparency, comparability, and interoperability of carbon credit data across markets. By addressing fragmented infrastructure and establishing consistent data fields, the model will enhance market trust and help emerging markets and developing economies (EMDEs) attract cross-border climate finance.
Stay tuned as we report on the progress on these priorities throughout the year.
G20 Finance Ministers, Central Bank Governors and their Deputies just met in Cape Town
South Africa takes the helm of the G20 at a testing time. As climate impacts intensify, with approximately 320 billion U.S. dollars losses and 11,000 deaths due to natural disasters worldwide in 2024, it is a moment to mobilize resources for a greener, more inclusive and more sustainable global economy—one that reflects the spirit of Ubuntu, where people and the planet thrive in tandem.
G20 Climate Side Event: Enhancing the Global Sustainable Financial Architecture
An event was organized on the margins of the G20 Finance and Central Bank Deputies to dive deeper into one of the G20 SFWG 2025 priorities. The panel aimed at advancing the understanding of climate finance cooperation between VCEFs, MDBs, and NDBs, along with private financial institutions.
Find the recording of the event here.
The Road to G20: G20 SFWG Upcoming Events
The Second G20 SFWG Meeting will convene in George, South Africa in March, featuring a (closed-doors) side event on scaling up finance for adaptation and just transitions.
Thank you for your continued support and engagement. Note that you can always explore our Document Repository for the latest documents related to the current G20 Presidency, including meeting summaries, input papers and latest deliverables. For more information on the G20 SFWG, visit the official website here.