Future of Finance Working Group

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Established in December 2021 and co-chaired by Afsaneh Beschloss and William C. Dudley, the Future of Finance Working Group convenes leaders in the private, public, and multilateral sectors to discuss and evaluate emerging trends, challenges, opportunities, and ideas within the realm of global finance. This Working Group aims to:

  • Evaluate emerging trends and disruption occurring across the global financial services landscape
  • Enhance dialogue and collaboration among private, public, and multilateral financial actors
  • Consider prudent financial practices, policies, and opportunities for regulatory harmonization
  • Encourage international financial institutions (IFIs) and their member governments to promote open and integrated markets, international commerce and trade, and investment and growth opportunities

The FFWG has established two internal project teams to focus specifically on digital finance and climate finance. These topics were deemed highly relevant and of immediate importance to post-pandemic economic restructuring.

Following the release of the President’s Working Group’s Stablecoins Report (Press Release), FFWG co-chairs Bill Dudley and Afsaneh Beschloss have been meeting with the U.S. policymaking and regulatory community to inform BWC's Digital Finance Project Team on pressing issues and priorities.

Similar consultations will be held in 2022 with U.S. and international regulators on the topic of climate finance.

The FFWG Digital Finance Project Team (DFPT) has undertaken production of a series of 8 briefs, investigating critical and urgent regulatory aspects in the digital currencies and crypto space; the first brief will be presented at BWC Annual Meeting on April 22.

Brief I - State of Play in Crypto Markets: Opportunities and Dangers

Brief II - Emerging Crypto Ecosystems and Positive Use Cases

Brief III - Evaluation of Technological Innovation

Brief IV - Crypto Assets: Opportunities and dangers; policy and regulatory priorities

Brief V - Investor Protection and Market Integrity

Brief VI - Security Issues with crypto/cyber - AMI/BSA/CFT

Brief VII - CBDB

Brief VIII - Crypto and the International Monetary System

 

The FFWG Climate Finance Project Team (CFPT), aims to support the transition to net-zero financing through analysis of regulatory and policy issues within climate finance, and specifically how to mobilize the financing required (public, private and multilateral) to achieve such a goal.

 Its primary areas of focus are:

  • The role of multilateral development banks (MDBs) and other financial institutions in financing the transition to net-zero and in mobilizing private sector investments
  • The role of the private sector in climate finance markets- specifically, their investment in new projects and their commitment to company-level net-zero transitions
  • Innovative finance and as a means to scale investments (crypto-based climate finance, debt for nature swaps, etc.)

To narrow the scope of its activity and inform the creation of a detailed, specific work plan, the CFPT is currently participating in a series of consultations with climate finance leaders and experts.

To spur discussion and generate a wealth of ideas for CFPT consideration, the CFPT also recently launched a Blog Call, inviting BWC members to weigh in on how best to finance the net-zero transition.

BWC’s upcoming Annual Meeting will kick off collective climate finance discussion among our members with a special climate-centric session. Discussion will also address climate finance in relation to the goals of the current administration and the unfolding war in Ukraine.

Past CFPT engagements are listed below:

For further information, please contact Elena Tosana at [email protected].