A Principle-Based Approach for Governance

The Task Force recommends the development of a set of principles to integrate the SDGs into policy dialogue, standards and rules governing digital finance: 

The IMF and World Bank-sponsored Bali Fintech Agenda is an attempt to align the evolution of digital finance with the SDGs. Building on this and the experience of the G20’s GFPI, a set of principles could be developed to insert the SDGs into international policy and regulatory dialogue regarding digitalization across global finance, public and private sectors. Such an approach could also advance the role of digital finance in existing international efforts around sustainable finance, such as the TCFD, Principles for Responsible Investment, and the NGFS as well as national and regional initiatives with international implications, such as the European Commission’s International Platform on Sustainable Finance.

Overview of this Recommendation 

Element

Icon ImagePrinciples

Recommendation

Develop a set of principles that guide national and international rulemaking and also directly market behaviour in aligning digital financing with the SDGs.

Next steps

UN with Bretton Woods institutions to advance such a set of principles in consultation between policymakers, regulators, international organizations, fintech companies and financial institutions, draw on existing principles (e.g. Bali Fintech Agenda) and to be adopted by key international platforms, such as the G20.

 

The Task Force recommends the development of a set of principles to integrate the SDGs into policy dialogue, standards and rules governing digital finance: 

The IMF and World Bank-sponsored Bali Fintech Agenda is an attempt to align the evolution of digital finance with the SDGs. Building on this and the experience of the G20’s GFPI, a set of principles could be developed to insert the SDGs into international policy and regulatory dialogue regarding digitalization across global finance, public and private sectors. Such an approach could also advance the role of digital finance in existing international efforts around sustainable finance, such as the TCFD, Principles for Responsible Investment, and the NGFS as well as national and regional initiatives with international implications, such as the European Commission’s International Platform on Sustainable Finance.

Overview of this Recommendation 

Element

Icon ImagePrinciples

Recommendation

Develop a set of principles that guide national and international rulemaking and also directly market behaviour in aligning digital financing with the SDGs.

Next steps

UN with Bretton Woods institutions to advance such a set of principles in consultation between policymakers, regulators, international organizations, fintech companies and financial institutions, draw on existing principles (e.g. Bali Fintech Agenda) and to be adopted by key international platforms, such as the G20.