With only 10 years left to realize the 2030 Agenda, there is a common call to boost finance from additional funding sources in order to accelerate sustainable action. At the same time, new finance options and innovative tools are emerging and fueling the international debate on their potential for sustainable development.
Consequently, the United Nation’s Secretary General has appointed the “Task Force on Digital Financing of the SDGs” to investigate how this potential can be unlocked while limiting the associated risks. In order to achieve the Sustainable Development Goals (SDGs) and climate commitments agreed in 2015, financial flows have to be redirected into critical priorities and away from assets that deplete natural capital. Fintech offers the solution to accelerate the integration of the financial sector into the real economy. It provides the urgently needed opportunities to enable greater decentralization and active participation in the transition to sustainable development.

Discussion: Besides deliberating on emerging policy recommendations put forward by the UN Task Force and on the results of the “German Sustainable Fintech Stocktake” undertaken by the Sustainable Digital Finance Alliance, this panel will discuss how fintech innovations can help to link financial resources with sustainable development pathways, which is a fundamental task especially in light of the ongoing COVID-19 crisis. Accelerated by the current crisis, the panel will present examples of social inclusion in financial transactions and markets as well as highlight how digital solutions can increase transparency, accountability and information sharing between regulators, citizens and businesses. The panel will share ideas on how to realize this historic opportunity to shape finance in an innovative way while empowering citizens participation for inclusive sustainable development.