AFI’s Inclusive Green Finance (IGF) Working Group aims to create a unique platform for financial policymakers to discuss, innovate and jointly create financial policies that builds resilience and enable mitigation to the effects of climate change. The IGF Working Group provides policy leadership and regulatory guidance on inclusive green finance and formulates policies and regulatory approaches related to climate change and financial inclusion, while leveraging on the Sharm El Sheikh Accord on financial inclusion, climate change & green finance.
As AFI’s newest, launched at the 2019 Global Policy Forum in Kigali Rwanda, the IGF Working Group is dedicated to promoting, knowledge sharing and information exchanging on inclusive green finance policies. IGF WG also works on developing a common understanding of climate change topics such as mitigation, adaptation, green financing, green finance taxonomies and the regulatory responses to climate emergencies.
With natural disasters becoming more frequent and the effects of climate change more pronounced, financial exclusion increases, and climate change exacerbated existing risks and vulnerabilities. In response to heightened interest within the AFI network, member institutions are committed to work together and collaborate with partners in identifying, understanding and implementing green financial inclusion policy solutions while focusing on communities most vulnerable to climate change.
AFI’s member institutions recognize that financial inclusion is vital in helping the most vulnerable communities build resilience and mitigate losses that are caused by the effects of climate change. Green financial inclusion plays a key role in enabling environmental objectives of Sustainable Development Goals (SDG), in particular, SDG 1 (No Poverty), SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action).
AFIs Inclusive Green Finance (IGF) workstream is part of the International Climate Initiative (IKI) supported by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU), based on a decision of the German Bundestag.