As we prepare for the upcoming G20 Leaders’ Summit on November 22-23, we’re excited to share the culmination of the work done by the G20 Sustainable Finance Working Group (SFWG) in 2025. This year has been full of productive meetings, insightful inputs from knowledge partners, and impactful side events—all driving our shared mission of advancing sustainable finance under South Africa’s vision: “Solidarity, Equality, Sustainability”.
The 2025 Report is Now Available!
The G20 Presidency and Sustainable Finance Working Group (SFWG) Co-Chairs have released the 2025 sustainable finance report, presenting key findings and policy recommendations developed under South Africa’s G20 Presidency.
This year, the SFWG focused on addressing systemic barriers to scaling up sustainable finance. The report includes 35 recommendations across three priorities: (I) Strengthening the global sustainable finance architecture; (II) Scaling up financing for climate adaptation; and (III) Unlocking the financing potential of carbon credit markets.
Key recommendations include:
- Encouraging climate funds and development banks to collaborate more cohesively as a system, enhance interoperability of procedures to overcome knowledge and data gaps, and leverage their strengths to mobilize capital through country-led investment platforms and regional integration initiatives,
- Creating transparent and predictable conditions to foster private sector investment in adaptation. Integrating disaster risk-related finance instruments, such as insurance, into broader climate adaptation and resilience strategies. Suggestion of principles for integrating adaptation and resilience consideration into financial institutions and corporates transition plans,
- On carbon markets, the SFWG developed principles for a common carbon-credit data model–a voluntary framework to standardize how carbon-credit data is recorded and exchanged. This supports comparability and transparency to help ensure that credits represent real and verifiable climate benefits.
Read the full Report to explore all recommendations and insights
Fourth SFWG Meeting Held
The SFWG’s fourth meeting was held in Zimbali, South Africa, during which the members continued technical work across all three priorities and finalized work on the Report. Read the Summary of the fourth meeting here.
Leading up to the fourth meeting, several side-events were held, including one on natural catastrophe insurance protection gap on the margins of the FMCBG, organized by the Presidency and IAIS.
Additionally, under the SFWG’s Pilot Group on Self-Evaluation of Sustainable Finance Policy Effectiveness, two technical webinars were held: one on Climate Risk, PACTA, and Taxonomies, and another reflecting on the SFIA Framework. Following the fourth meeting, a side event on the Implementation of the G20 Sustainable Finance Roadmap and Technical Assistance Action Plan was held.
Our document repository always has the latest summaries and reports on meetings and events.
Roundup of 2025 Input Papers
As you read through the Report, you may also wish to explore the input papers that informed the SFWG’s work this year. The full list is available in our public document repository.
Strengthening the global sustainable finance architecture
- Strengthening Collaboration to Scale Climate and Development Finance (CPI, FICS, AfDB)
Scaling up financing for climate adaptation
- Integrating Adaptation and Resilience into Transition Plans (NGFS)
- Identify and Address Insurance Protection Gaps (IAIS, WBG)
- Scaling Finance and Investment for Climate Adaptation (OECD, AfDB)
- Scaling Finance for Climate Adaptation (WRI)
- Analysis of 162 cases of financial instruments for climate adaptation and related database (WRI)
- Perspectives from a set of financial institutions on adaptation finance provision and transition planning (GFANZ)
For all current and previous input papers, check out the document repository.
Finance Ministers and Central Bank Governors and their Deputies met in Washington DC
South Africa took the helm of the G20 at a testing time. As climate impacts intensify, the number of people affected by disasters has surged. The rate of affected populations rose by 75%, with an average of 124 million people impacted each year. This reflects growing vulnerability and exposure. 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.
At the fourth FMCBG meeting, G20 members recognized the progress made in implementing the G20 Sustainable Finance Roadmap echoing most SFWG members who had previously reaffirmed their efforts to continue the overall implementation of the Roadmap as a multi-year, action-oriented document which is voluntary and flexible in nature.
South African Reserve Bank takes helm of global network of insurance supervisors focused on sustainability
South Africa’s 2025 G20 Presidency, including the work of the G20 Sustainable Finance Working Group (SFWG), has provided a key platform to advance transition planning, nature-related risks, and resilience.
This legacy will continue through the Sustainable Insurance Forum (SIF), which from 2026 will be chaired by Ms. Fundi Tshazibana, Deputy Governor of the South African Reserve Bank, CEO of the Prudential Authority, and member of the Monetary Policy Committee.
Established in 2016 with International Association of Insurance Supervisors (IAIS) support, the UNDP-hosted SIF includes 40 authorities regulating over 90 percent of global insurance assets.
As SIF marks its 10-year anniversary in 2026, South Africa’s Chairmanship respresents an important milestone with South Africa being the first African country to lead the Forum, ensuring geographic balance, amplifying the Global South voice, and underscoring South Africa’s leadership in sustainable insurance supervision.
Tracking progress on the G20 Sustainable Finance Roadmap
This year, our Progress Tracking Dashboard has been a go-to resource for monitoring sustainable finance progress across the G20 jurisdictions. Updated regularly, it highlights our collective efforts on the 19 actions laid out in the G20 Sustainable Finance Roadmap, supported by voluntary contributions from G20 members, international organizations, and global networks.
As we wrap up 2025, we want to thank everyone: the South Africa G20 Presidency, G20 SFWG Co-Chairs, all jurisdictions, knowledge partners, contributors, and you, the subscribers, for your engagement and commitment to this journey. Your support has been instrumental in driving our progress, and we’re excited to build on this momentum in the years to come.
Thank you for being part of this year’s achievements.