2024 Annual CG Meeting Welcomes New Members and Private Sector Collaboration; Focuses on Inclusive Finance and Climate Change
London, England – June 11, 2024: CGAP welcomed two new members to its Council of Governors (CG) and four strategic partners during the 2024 annual CG meeting. Held in London, this year’s event highlights the pivotal role of inclusive finance in combating climate change, enhancing grassroots resilience, and promoting a just and green transition for people living in poverty.
The CG serves as CGAP’s membership and governance body, with its members represented on CGAP’s Executive Committee, which functions as the organization’s advisory board. The CG comprises five constituencies categorized by organizational type: bilateral donor organizations, development finance institutions, foundations, and multilateral organizations.
The two new members of the CG are the International Labour Organization (ILO) and the World Food Programme (WFP), which will join the Multilateral Constituency.
In an innovative effort to further integrate private sector perspectives into CG discussions, CGAP also welcomed four strategic partners during the annual CG meeting: AXA Emerging Customers, Baillie Gifford – Positive Change, Citi Social Finance, Fundación Microfinanzas BBVA. While strategic partners are not CG members and therefore do not participate in CGAP’s governance, they actively contribute to CGAP’s convenings, knowledge sharing efforts, and strategic discussions. This inaugural group of strategic partners spans various sectors vital to CGAP’s mission, including insurance, microfinance, banking, and investments.
“On behalf of CGAP’s Executive Committee, I would like to welcome ILO and WFP as new members and AXA Emerging Customers, Baillie Gifford – Positive Change, Citi Social Finance, and Fundación Microfinanzas BBVA, as strategic partners. We look forward to collaborating with their representatives and to the wide variety of perspectives they will add to CGAP’s work,” said Henri Dommel, Director of the Financial Inclusion Practice Area at United Nations Capital development Fund (UNCDF) and chair of CGAP’s Executive Committee.
The annual CG meeting is a platform for members and partners to discuss CGAP’s strategic direction, review and approve work plans and budgets, and share knowledge on innovations and trends. This year’s meeting brought together global advocates and key stakeholders at the intersection of financial inclusion and climate change. It included a call to action to place inclusive finance at the heart of global climate action, following the release of this CGAP paper. Participants included financial service providers, policymakers, regulators, funders, investors, and climate and financial inclusion professionals from thinktanks, civil society, consultancies, and other organizations.
“Inclusive finance provides a development pathway for poor and vulnerable people who are at the frontlines of climate change,” said Sophie Sirtaine, CGAP CEO. “It empowers grassroots adaptation, supports effective climate resilience, and enables everyone to take part in climate action and ensure a just green transition. A key objective of this meeting is to demonstrate how funders and governments can leverage private sector involvement to build inclusive financial markets that support green, resilient, and inclusive development.”
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