New Delhi, March 5 -- The Financing for Development summit is a series of global conferences that brings together countries, international institutions and private sector actors to address financial challenges for achieving sustainable development. So far, three conferences have been held, starting with the Monterrey Consensus in 2002 followed by the Doha Declaration in 2008 and the Addis Ababa Action Agenda in 2015.

Over the years, the discussions have covered the alignment of finance with Sustainable Development Goals (SDG), encouraging innovative mechanisms to boost development and address climate finance challenges. However, despite the progress made, the global financial system has been slow to respond to environmental and social c...