Road to G20, Sri Mulyani: There Is a Bigger Challenge than Covid-19

The G20 is still ongoing. Most recently, in the opening of the G20 2022 first meeting, today (17/2) of the finance ministers and central bank governors (FMCBG), Minister of Finance Indonesia Sri Mulyani Indrawati explained that there is a danger lurking around the world. She explained that it is more dangerous than Covid-19.

According to her, although the pandemic has a very fatal effect on the world, another more dangerous thing is global climate change.

“The pandemic sends a strong warning to us that the vulnerability of the global economy is from non-traditional factors. Climate change can be a bigger threat than a pandemic,” said Sri Mulyani, at the opening of the 1st FMCBG today, Thursday (17/2/2022) in Jakarta.

According to Sri Mulyani, the G20 must be directly involved in maintaining the global climate. This is done by reducing carbon emissions and supporting, increasing, and channeling direct financing in dealing with climate change.

She also added that the G20 must find ways to finance technology that can help maintain this climate.

Cooperation and togetherness are very important in carrying out this mission. Moreover, a high level of commitment is required in undergoing this transition.

Sri Mulyani said that the G20 agenda has the power to restore and maintain the climate. Therefore, the development of financing initiatives is important in achieving this goal.

Furthermore, this is also in line with Indonesia’s G20 presidency which intends to accelerate the energy transition to a low-carbon global economy.

However, achieving this goal requires significant investment and sustainable infrastructure development. In addition, advancing the financial transition will be key to realizing the energy transition.

Sri Mulyani emphasized, “We must leverage international financial sources and open up private sector investment if we are to realize the green transition.”