Dr Nicola Ranger is lead author of a new report, Reforming the global financial architecture to drive a resilient net-zero transition. The report is part of Task Force 5: Purpose and performance: Reassessing the global financial order.
The effects of recent global shocks have delayed progress on the net-zero transition, climate change adaptation and wider sustainability goals, delays which will increase the economic expense of transition and environmental damages. The global community must embed shock-proofing and shock-responsive approaches into fiscal policies and the global financial architecture so that shocks no longer inhibit progress – a resilient net-zero transition. The G20 has a crucial role to play in shaping the architecture for such a transition.
The Policy Brief recommends the creation of a dedicated financing facility for emerging and developing economies to help maintain progress on climate goals during crises; and that the G20 aligns the global financial system, including fiscal and development finance, with climate-resilient development.
Think20 (T20) brings together think tanks and high-level experts to discuss policy issues relevant to the G20. T20 recommendations are synthesised into policy briefs and presented to G20 working groups, ministerial meetings, and leaders’ summit to help the G20 deliver concrete policy measures.
- See the full report on the T20 website