SUMMARY 12th Meeting of the San Giorgio Group

The 12th Meeting of the San Giorgio Group (SGG12) focused on moving climate finance from ideas to large-scale delivery, emphasizing system coherence and country-level impact. The group highlighted that annual climate finance now exceeds USD 2 trillion, driven by renewable energy and transport electrification. Key priorities include reforming Multilateral Development Banks (MDBs), scaling guarantees and catalytic equity, and addressing the high cost of capital in developing countries. The agenda also calls for 'radical localism' to center people in the climate narrative and suggests leveraging artificial intelligence and underutilized public financing institutions, such as export credit agencies, to accelerate the energy transition.

• Annual climate finance has surpassed USD 2 trillion, with growth driven primarily by cost-efficient technologies in renewable energy and transport electrification.
• Despite global growth, emerging markets and developing economies face high costs of capital, though countries such as Brazil, Ethiopia, Jamaica, Pakistan, and South Africa have successfully scaled climate finance.
• Systemic reforms are needed to reduce the cost of capital and improve efficiency, specifically through the expansion of guarantees, catalytic equity, and the reform of MDBs to support 'originate to share' models and updated performance incentives.
• There is a critical need to shift the climate finance narrative toward 'radical localism,' linking financial actions to tangible human benefits such as jobs, health, and affordability rather than focusing solely on emissions targets.
• The group identifies untapped opportunities in artificial intelligence to optimize energy systems and the potential of public financing institutions, such as export credit agencies (ECAs), to accelerate technology deployment.

APA

Climate Policy Initiative (2026). SUMMARY 12th Meeting of the San Giorgio Group. https://www.climatepolicyinitiative.org/wp-content/uploads/2026/04/12th-Annual-San-Giorgio-Group-Meeting-Summary.pdf

Chicago

Climate Policy Initiative. SUMMARY 12th Meeting of the San Giorgio Group. 2026. https://www.climatepolicyinitiative.org/wp-content/uploads/2026/04/12th-Annual-San-Giorgio-Group-Meeting-Summary.pdf.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=SUMMARY 12th Meeting of the San Giorgio Group |date=March 2026 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2026/04/12th-Annual-San-Giorgio-Group-Meeting-Summary.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2026summary, author = {{Climate Policy Initiative}}, title = {{SUMMARY 12th Meeting of the San Giorgio Group}}, institution = {Climate Policy Initiative}, year = {2026}, month = mar, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2026/04/12th-Annual-San-Giorgio-Group-Meeting-Summary.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }