Exploring Sustainable Finance with PAGE | 02/04/2025

PAGE’s strategic approach to sustainable finance

In the transition of the global economy moving toward sustainability and social justice, sustainable finance has emerged as a critical enabler of this process.

The updated PAGE Strategy 2021-2030 recognizes the fundamental importance of green and sustainable finance in achieving long-term resilience and prosperity. As a key strategic focus, PAGE aims to support countries to shift finance and investment for a just, circular and green economic transformation, with a focus on three essential elements: green jobs and just transition, circularity, and sustainable finance.

In this blog, we will explore the concept of sustainable finance and showcase how PAGE supports countries in integrating sustainable finance practices, spotlighting impactful initiatives at both global and national levels.

What does it mean?

Sustainable finance, as defined by the World Bank, encompasses financial activities and investments that integrate environmental, social, and governance considerations. Therefore, sustainable finance increases long-term investments in sustainable economic activities and projects. PAGE operationalizes this concept by collaborating with both public and private sector institutions to align fiscal and budgetary frameworks and financial systems with sustainable development objectives. The tools offered by PAGE include green finance stocktaking studies, sustainable finance roadmaps, fiscal policy assessments, green budgeting and public environmental expenditure reviews, in addition to market readiness analysis and legal framework reviews for sustainable public procurement.

Driving sustainable finance at the global level

PAGE's global influence on sustainable finance manifests through strategic engagements and partnerships.

Engaging with partner countries on sustainable finance

PAGE has an extensive record of providing fiscal policy assessment and capacity building support to partner countries to integrate sustainable finance in national mechanisms, unlocking and scaling up sustainable and green finance practices and products, and connecting with national sustainable development priorities. PAGE’s contribution to private sustainable finance includes the development of roadmaps for financing the transition to inclusive green and circular economy, initiate, support and strengthen engagement of government with the private sector on investments in climate and sustainability targets and support green finance needs assessments.

The way forward

At the core of achieving the 2030 agenda lies the challenge of bridging the financing gap, which requires mobilising substantial resources to accelerate sustainable development. The financing of this transition is increasingly gaining attention among major financial stakeholders and to address this challenge, governments must create favourable conditions and incentives to tap into all available financing channels—both public and private, domestic and international. Moving forward, PAGE will expand its initiatives and strengthen its strategic influence within global financial and economic fora. This will ensure that sustainability is deeply embedded in high-level fiscal policy debates and underscore opportunities for significant impact, particularly through PAGE’s growing collaboration with key partners like CFMCA. PAGE will continue to support countries in unlocking green finance, reforming subsidies, and integrating sustainability into public and private investments, thereby fostering a more inclusive and resilient economic future.