This second edition was hosted by Cassa Depositi e Prestiti (CDP), the Italian National Promotional Institution and Financial Institution for Development Cooperation, in partnership with the International Fund for Agricultural Development (IFAD), and with the support from all the members of the Finance in Common Coalition. It gathered in digital format the whole development bank community, comprising more than 500 Public Development Banks (PDBs) and other key stakeholders (governments, central banks, private sector, civil society, think tanks and academia, etc.).
THE SUMMIT IN DETAIL
Moreover, governments of the G20 have formally recognized the importance of the FICS movement in the international financial architecture. The G20 Finance Ministers and Central Bank Governors’ communiqué of October 2021 welcomed the FICS Coalition and recognized the important role of PDBs in order to achieve the SDGs and the Paris Agreement goals.
In 2020, FICS gathered all PDBs worldwide for the first time during the initial FICS Summit, which took place in Paris on 9-12 November. This first FICS Summit underscored the crucial role PDBs in reconciling short-term countercyclical responses with sustainable recovery measures that will have a long-term impact on the planet and societies. By reconciling the entire finance community in support of common action for climate and the United Nations Sustainable Development Goals, the Finance in Common Summit was a key milestone on the way to the crucial events of 2021, notably the COP26, the COP15 and the Generation Equality Forum.
The first FICS Summit led to a Joint Declaration, in which PDBs agree to shift their strategies, investment patterns, activities and operating modalities to contribute to the achievements of the SDGs and the objectives of the Paris Agreement.
THE SUMMIT IN DETAIL
By reconciling the entire finance community in support of common action for climate and the UN Sustainable Development Goals, the Finance in Common Summit was a key milestone on the way to the crucial events of 2021, notably the COP26, the COP15 and the Generation Equality Forum.