Taskforces
Seguridad alimentaria

Green Growth

Fulvio Conti

Ditlev Engel

President and Chief Executive Officer, Vestas Wind Systems A/S, Denmark

Fulvio Conti

Fulvio Conti

Chief Executive Officer and General Manager, ENEL S.p.A., Italy

Members:

Antonio Brufau
Brian A. Dames
Juan Pablo del Valle
Robert Diamond
Luis Farías
Caio Koch-Weser
Patrick Kron
Gerard Mestrallet
Pierre Nanterme
Jeremy Oppenheim
Steen Riisgaard
Richard Samans
Ulrich Schröder
Kim Seung Youn
Andrew Steer
Lord Nicholas Stern
Tulsi R. Tanti
Jean-Pascal Tricoire
Simon Upton
Peter Voser
Shi Zhengrong
Ignacio Galán

The B20 Task Force on Green Growth has proposed five “Priority Actions for Los Cabos” to G20 stakeholders. While all five are tangible, actionable ideas, one idea in particular represents a significant opportunity to advance the green-growth agenda in the next 36 months.



Campo

B20 TASK FORCE RECOMMENDATIONS, CONCRETE ACTIONS FOR LOS CABOS

B20 TASK FORCE PRIORITIZED RECOMMENDATIONS

I. At the Los Cabos summit, endorse the launch of a new club called the B20 Green Growth Club to facilitate and monitor progress in delivering green growth.

The club will have a three-year mandate and will initially focus on transforming global financing flows for green growth by strategically targeting public financing to dramatically scale up private investment.

Concrete action

At the time of the Los Cabos summit the B20 will declare a new club of international financial institutions, development banks, companies, banks, and private investors. As stated above, the club is designed to make practical progress on the green-growth agenda within the next 36 months, with an initial focus on financing. We invite development and finance ministers and international financial institutions to engage with the B20 Green Growth Club to scale publicprivate financing structure for green growth and United Nations sustainable energy for all investments. We will report on our progress in leveraging private finance at future G20 summits.

Initial activities

In its first phase, the club will work with the G20 to facilitate efforts to target public funding to leverage private investment by:6
· Identifying and sharing best-practice risk mitigation and co-investment funding structures for green investment
· Supporting efforts to move away from a project-byproject approach to a portfolio-investment approach
· Working with G20 leaders to incorporate “leveraging private finance” as a key performance strategy for international financial institutions and national development banks

Commitments needed

· We call upon leaders from international financial institutions, development banks, companies, banks, and private investors to join the B20 Green Growth Club and support its efforts.
· We call upon governments, including finance and development ministers, to engage with the club and create an enabling policy environment for green growth by implementing task-force recommendations for:
- Promoting free trade in green goods and services
- Achieving robust pricing on carbon
- Ending inefficient fossil-fuel subsidies
- Accelerating low-carbon innovation
- Dramatically increasing efforts to target public funding to leverage private investment

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