FiCS-G20 Rio Joint Event: “Shaping impactful solutions for Sustainable Finance - a dialogue between Public Development Banks and the G20”

May 20-21, 2024, Rio de Janeiro, Brazil

In 2024, Brazil leads for the first time the Group of 20 (G20), that includes the world's 19 largest economies, including the African Union and the European Union. It will focus on the fight against hunger, poverty, and inequalities; the promotion of sustainable development, clean energy and bioeconomy; and the reform of global governance. The Summit of Heads of Government and State, to be held in Rio de Janeiro on November 18 and 19, 2024, will be the culmination of this extensive work.

The Presidency intends to advance concrete solutions in response to world challenges and to explore sustainable opportunities, by engaging with a variety of stakeholders from civil society, the private sector and the financial system.

To contribute to the Brazilian Presidency’s objectives, the  Ministry of Finance, BNDES, ICS and Finance in Common will co-host for the first time a FiCS/G20 Rio joint event, with select representatives from governments, PDBs and other stakeholders, alongside civil society organizations, to explore linkages and synergies between the FiCS agenda and the G20. It will focus on specific PDB contributions to the G20 Finance Track, including the Sustainable Finance Work Group (SFWG), the Infrastructure Working Group, the Taskforce on climate finance mobilization (TF CLIMA) and the International Financing Architecture Working Group (IFAWG).

The FiCS-G20 Rio Joint Event will comprise two different parts. First, a public and livestreamed high level opening session, with high representatives from Brazil  and members of Finance in Common. Second, two sets of closed doors, thematic roundtable discussions, to advance actionable insights for policy formulation, strengthening collaboration between public and private sectors, and introduce innovative financial instruments aligned with the SDGs on four key topics:

• Global Financial Architecture and country platforms

• Concessional and innovative financial solutions for Biodiversity and Climate

• Increasing blended finance and private capital mobilization for resilient infrastructure

• Scaling local and subnational finance.

These work sessions will showcase the synergies between the G20 and PDBs agendas, and deliver a set of recommendations from Finance in Common to the Brazilian G20 presidency. They will also feed in and pave the way to the 2024 Annual Summit.

In case of interest and availability to join the event in person in Rio, please contact the FiCS secretariat at financeincommon@afd.fr