Embedded within the Asia Pacific Economic Cooperation (APEC) forum, the Sustainable Finance Development Network (SFDN) is a public-private sector platform for dialogue on sustainable finance. APEC’s 21 member economies account for more than one third of the world’s population and represents approximately 62 percent of the global nominal GDP and 48 percent of world trade (2021).
SFDN was formed at the recommendation of the APEC Business Advisory Council (ABAC) by the APEC Finance Ministers in 2020 to resolve the growing need to address and consolidate efforts towards sustainable finance. SFDN is designed to serve as a permanent platform for public-private sector collaboration to help accelerate the convergence of sustainable finance policies among APEC member economies. It also supports the region in developing global and more compatible sustainability frameworks.
SFDN is guided by a steering committee which oversees the outputs and strategic direction of the network. The steering committee is made up of experts from multilateral development institutions, private sector organisations, key financial institutions and think tanks. In addition to the Steering Committee, ongoing SFDN activities are developed by means of workstreams. These are led by sherpas who are appointed for their expertise. The secretariat, which coordinates the network is provided by the UNDP hosted Financial Centres for Sustainability (FC4S) initiative, a network of 39 international financial centres.
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