6/9/2013 - G20 Leaders today endorsed a new global initiative to encourage the flow of institutional investment towards longer-term assets, such as infrastructure and renewable energy projects, in order to strengthen the global economy and deliver more sustainable growth.
In February 2013, G20 Finance Ministers and Central Bank Governors encouraged the OECD to develop High-level Principles on Long-Term Investment Financing by Institutional Investors for consideration at the G20 Summit in Saint Petersburg on 5-6 September 2013. These high-level principles are intended to help governments facilitate and promote long-term investment by institutional investors, particularly among institutions such as pension funds, insurers and sovereign wealth funds, that typically have long duration liabilities and consequently can consider investments over a long period.
The OECD-led Task Force on Institutional Investors and Long-Term Financing, which is open to G20, FSB, APEC members and relevant international organisations, started work on developing these principles in March 2013.
The development process involved consultations with relevant stakeholders and the OECD invited comment on the draft text via a publication consultation which took place between 2-24 May 2013. Based on comments received during the public consultation, a further draft was discussed by the Task Force at its meetings on 27 May and 17 June.
G20 Finance Ministers and Central Bank Governors welcomed the Principles at their July 2013 meeting and called on the OECD to identify approaches to their implementation.
G20 Leaders endorsed the Principles at the Summit meeting in Saint Petersburg on 5-6 September 2013.
Any requests for further information should be addressed to Mr. Pablo Antolin (firstname.lastname@example.org).
DOCUMENTS AND LINKS
APEC/OECD Seminar on Infrastructure Financing,