Unlocking Sustainable Finance to Accelerate a Just Energy Transition

This report builds on the G20 Bali Sustainable Finance Working Group recommendations on just energy transitions, from the viewpoint of the financial sector. The recommendations on specific areas of G20 leadership, for both financial sector and real economy, are summarised as follows: • G20 as principal shareholders directs Multilateral Development Banks to respond to the Bridgetown Initiative, a proposal to reform the world of development finance for climate action, by leveraging their resources to substantially increase the volume of climate finance for mitigation and adaptation. • G20 institutionalises Debt-for- Development Swaps through clean energy investment in African countries undertaking debt restructuring. • G20 leadership is in a good position to unlock sustainable finance to operationalise just energy transitions by leading in developing procedures for sharing the public-good aspects of Net- Zero Emissions innovations, supporting policy partnerships at regional and national levels to accelerate the sharing of good practices, establishing a high-level committee that develops standardised Monitoring, Reporting and Verification protocols, and considering expanding carbon pricing to cover the global commons.