SYDNEY, May 18, 2022 /PRNewswire/ -- The Global Infrastructure Hub (GI Hub) has announced the formation of a Technical Working Group of global infrastructure, finance, and climate experts to provide strategic advice to the G20 and GI Hub on a forthcoming framework that will offer new recommendations for scaling up private sector investment in sustainable infrastructure.
Last week, the GI Hub's Chief Content Officer (COO) Henri Blas convened the Technical Working Group to review the draft framework, which is due to be published in the fourth quarter of 2022. The framework, which is being developed with support from the Organisation for Economic Co-operation and Development (OECD) and Global Infrastructure Facility (GIF), supports the G20's infrastructure and sustainable finance priorities and aligns with a new report by the GI Hub on infrastructure transition pathways.
Infrastructure leaders from the G20 Indonesian Presidency, G20 Ministries of Finance and central banks, long-term investor networks, multi-lateral development banks, GIF, and the OECD are involved in the group, and provide direct input into shaping the framework's recommendations.
Infrastructure continues to be a major barrier to achieving urgent climate targets, consuming 60% of the world's materials and responsible for 79% of global greenhouse gases. At the COP26 Climate Change Conference in Glasgow last November, countries agreed on several pledges that will drive sustainable infrastructure. The new framework will help decisionmakers translate such high-level commitments into tangible deliverables at global scale.
"Sustainable infrastructure now attracts half of all private sector investment in infrastructure, but the overall amount of private investment in infrastructure, USD100 billion in 2020, still isn't nearly enough to address the climate emergency," said GI Hub COO Henri Blas. "To help address this challenge, the GI Hub is aggregating solutions for scaling up private investment in sustainable infrastructure into a practical framework that facilitates immediate and practical action."
The framework will build on the GI Hub's Infrastructure Monitor report on private investment in infrastructure, draw on the GI Hub's recent data analysis, Transformative Outcomes through Infrastructure, and advance the G20's infrastructure agenda.
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SOURCE Global Infrastructure Hub