16:30 - 18:30 (Indian Standard Time)/ 12:00 - 14:00 (British Summer Time)
National Development Banks (NDBs) have a critical role to play in financing a sustainable transition. But they are being critically overlooked by international financing sources like the Green Climate Fund and Multi-lateral Development Banks (MDBs), and not all NDBs see a sustainable transition as part of their primary remit.
Emerging Market and Developing Economies (EMDEs), which account for two-thirds of global carbon emissions and are facing disproportionate climate change impacts, also face daunting global macroeconomic headwinds caused by monetary tightening in advanced economies. This results in sizeable capital outflows, currency depreciation, and inflationary pressures, which are expected to remain high in the short to medium term.
Against this backdrop, and the massive financing needs in the EMDEs, this roundtable will bring together the NDBs from emerging economies in the G20: NaBFID from India, BNDES from Brazil, PTSMI from Indonesia, and DBSA from South Africa, alongside multilateral and bilateral development banks to discuss two key issues. First, the use of financial mechanisms, in particular blended finance, to crowd in the much needed private capital for sustainable transitions. And second, the urgent need for NDBs to exchange and collaborate among themselves and to get their due place at platforms such as the G20 and others to advance the solutions to current challenges in sustainable finance.