UN forum to urge Asia and the Pacific to review fiscal space to scale up green transition

Amidst weak economic growth prospects, high inflation and elevated interest rates, a UN regional gathering is bringing ministers, policymakers and experts to assess the effects of investments in the Sustainable Development Goals and reiterate the need to scale up the effort for climate action to meet the global commitments on the 2030 Agenda for Sustainable Development, which is at its midway point this year.

Convening from 1 to 3 November 2023 in Bangkok, the Fourth Session of the Committee on Macroeconomic Policy, Poverty Reduction and Financing for Development is slated to explore a new approach to assessing the effects of investment in the Sustainable Development Goals (SDGs) on public debt sustainability. The Committee is also expected to hear feedback on 10 proposed principles for action in sustainable finance, which encourages Governments, regulators and financial institutions to leverage their financial resources for net zero transition.

Keynote speakers are scheduled to address additional topics such as the role of multilateral development banks as catalysts for net zero transition by strengthening climate finance partnerships and investment in energy transition projects and green technologies.