In today’s rapidly changing world, young leaders are stepping up to challenge the status quo and drive transformative change in financial systems. On [insert date], we held an inspiring panel discussion titled Youth-Driven Financial Reform and Sustainable Development: Accelerating Equitable Finance and Entrepreneurship, where experts and young advocates gathered to explore how financial reform can be harnessed to promote sustainability, equity, and entrepreneurship.

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Key takeaways:

1. The Urgent Need for Reform:
   The current international financial system often fails to address the needs of developing nations. UN Secretary General António Guterres has called for comprehensive reforms to make financing more inclusive, particularly for marginalized communities in the Global South.

2. The Role of Youth in Driving Change:
   Young leaders have the potential to reshape financial systems and advocate for policies that prioritize social justice and environmental sustainability. By sharing compelling stories from marginalized communities, they can influence decision-makers to prioritize equitable financing.

3. Innovative Financial Mechanisms:
   Panelists discussed various financial tools, including microfinance and digital platforms, that can expand opportunities for youth and marginalized groups. These mechanisms can empower entrepreneurs and foster economic growth within communities.

4. Importance of Education and Support:
   Education and mentorship are crucial for young entrepreneurs. By providing access to resources and fostering a supportive environment, we can help them overcome barriers and thrive in their ventures.

5. Collaborative Approaches:
   Collaboration between governments, financial institutions, and young leaders is vital to creating a more equitable financial landscape. By working together, we can harness the collective power of youth to advocate for systemic change.

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Host:
Good afternoon everyone, and welcome to today's session on youth-driven financial reform and sustainable development: accelerating equitable finance and entrepreneurship. We’re excited to have you all joining us as we explore how young leaders can shape financial systems to promote sustainability, equity, and entrepreneurship. Over the next 30 minutes, our distinguished panelists will discuss the role of youth in driving financial reform to create more inclusive systems that serve marginalized communities and foster entrepreneurship growth. After the panel discussion, we will open the floor for a 15-minute Q&A session, so please prepare your questions for the panelists.

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We will be waiting for the panelists who are running a bit late. However, to begin, I wanted to provide a brief introduction. Nowadays, the call for reforming the international financial architecture has gained unprecedented momentum, driven by the urgent need to make financing more inclusive and responsive to modern challenges. The UN Secretary General, António Guterres, has emphasized that the current financial system, largely shaped by institutions created in the mid-20th century, is failing to address the needs of the developing world. He called for a wholesale reform, arguing that many countries, particularly in the Global South, are trapped under unsustainable debt burdens, limiting their ability to invest in critical sectors like health, education, and climate action.

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The Secretary General’s proposals include increasing liquidity for developing countries, restructuring debt, and reforming governance within key financial institutions like the International Monetary Fund and the World Bank. Discussions at the Summit of the Future emphasize the need to overhaul how countries access capital, especially through instruments such as climate bonds, debt swaps, and concessional lending. Today, we will focus on how young leaders can drive these crucial reforms by reshaping the financial architecture. Youth have the potential to create a more equitable and sustainable financial system, empowering vulnerable communities and fostering entrepreneurship.

Now, let me introduce our panelists. On my right, we have Yuen Yen. Yuen is an experienced climate professional with an advocacy and ESG consulting background. She built a climate advocacy program in Taiwan from scratch, successfully amended national climate laws, and incorporated climate change into Taiwan’s National Human Rights Action Plan. She has extensive experience in climate finance, particularly in project finance, climate-related financial risk assessments, and divesting public funds from fossil fuels.

Given your background, Yuen, let me start with this question: How can social justice be integrated into financial reforms to create fairer economic opportunities? What role do public policy and advocacy play in embedding equity within financial systems?

Yuen Yen:
Thank you for the question, and thanks to the audience here and online. The topic of financing for the Global South has been prominent during New York Climate Week, as many discussions revolve around how to accelerate funding for these regions. Unfortunately, most climate finance is still concentrated in the Global North because financial institutions tend to prioritize guaranteed profits and low-risk investments. This has created a situation where the capital costs associated with investments in developing countries deter potential investors.

It’s critical to note that the perceived risks are often exaggerated and can distort reality. For instance, many financial institutions view investments in developing countries as high-risk due to climate and political instability. However, many of these risks are based on misconceptions rather than actual data. Thus, we need to focus on improving transparency and access to information about these regions.

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One approach to addressing this issue involves bringing the stories of marginalized communities—those who are most affected by climate change—to the forefront of financial discussions. As a former campaigner in Taiwan, I worked on documenting the challenges faced by local communities, including farmers and indigenous groups, who contribute little to carbon emissions yet bear the brunt of climate impacts. By amplifying their narratives, we can compel decision-makers to understand the urgency of reforming financial systems to prioritize equity and sustainability.

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Host:
Thank you, Yuen. We'll continue this discussion. On my left, I have Evie Chen. Evie is the founder of AB and a strategic leader in venture strategy and consumer behavior. Her entrepreneurial journey began in college when she identified a gap in the iced tea market and pioneered the North American brew tea segment. Over the next decade, Evie grew her brand from a farmers market stand to a national brand distributed in over 2,000 outlets, partnering with government, private banking, and media leaders to improve funding access for small businesses.

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Evie, as an entrepreneur and venture strategist, what innovative financial mechanisms, such as microfinance or digital finance platforms, have you seen expanding opportunities for youth and marginalized groups? How can these tools be scaled for greater impact?

 

Evie Chen:
Thank you for the introduction, and it’s a pleasure to be here. This is a big topic, and none of us has the obvious answer. From my own personal experience, I believe we need to rethink how we approach entrepreneurship. When we think about entrepreneurs, we often envision someone who is glamorous and successful on television, someone who raises millions in funding. However, I believe the focus should be on making small businesses successful, as they are the backbone of our economy.

My entrepreneurial journey started with limited resources. What I had was my story—every family has its history, skills, and discipline that can be harnessed in entrepreneurship. Starting from nothing meant I had to learn how to support myself and build a business that could thrive in its community. The key is to make small businesses work, as they often serve local needs more effectively than large corporations.

To achieve this, we need to explore different forms of capital that can support small businesses. Innovative financial mechanisms, such as microfinance and digital finance platforms, can provide access to resources that are often lacking. However, it’s not just about providing funds; it’s about changing the narrative around entrepreneurship. We need to educate young people about the available resources, such as free courses and tools, to help them build sustainable businesses.

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Host:
What are the critical reforms needed to empower youth-led initiatives? How are we supporting entrepreneurs and bringing their testimonies to policymakers and investors to convince them to support our projects?

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Evie Chen:
The essence of financial institutions is their focus on risk. Youth are often perceived as risky investments because they lack experience and a financial track record. However, we must trust innovative ideas and the potential of young people. Many successful ventures have emerged from trial and error.

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Creating environments that encourage experimentation is crucial. One approach could involve implementing regulatory sandboxes, where startups can test their ideas without stringent regulations. This approach allows for creativity and innovation, which can empower young entrepreneurs.

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Furthermore, we need to create a culture of mentorship and support. By pooling resources and knowledge within communities, we can foster an environment where young entrepreneurs feel safe to take risks and explore their ideas without fear of failure.

 

Yuen Yen:
I love the concept of a sandbox. It provides a safe space for entrepreneurs to develop their ideas without the pressure of strict regulations. However, we must also consider the inherent risks that entrepreneurs face. Starting a business often means stepping into the unknown, and many entrepreneurs do not have the safety nets that traditional job holders enjoy.

To reduce uncertainty for investors, we must enhance transparency in financial markets and improve access to information for young entrepreneurs. This can help bridge the gap between investors and emerging businesses, ensuring that promising ideas receive the funding they need to flourish.

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Host:
Jai Goyal has joined us. Jai, with your background in finance and policy as a Columbia student, what do you believe are the most critical reforms needed to empower youth-led initiatives?

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Jai Goyal:
Thank you for the welcome. In my experience working with microfinance institutions, I’ve seen firsthand how strong policies can create space for underserved communities to thrive. For instance, providing small loans to young entrepreneurs can uplift not just the individuals, but also their families and the entire community.

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The importance of thoughtful and well-positioned policies cannot be overstated. We need policies that encourage the growth of microfinance and other supportive financial mechanisms. However, it’s essential to ensure that these policies are informed by the needs of the communities they aim to serve.

Effective feedback loops between stakeholders can help ensure that programs are continuously evolving and improving. We don’t need to start with perfection; we just need to start somewhere and refine the process over time.

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Host:
Before you arrived, we discussed how we can ensure programs are built from the ground up and not imposed from the top down. What’s your take on that?

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Jai Goyal:
Absolutely, the best approach is to start by identifying real problems faced by communities. Once these issues are recognized, we can create policies and programs that truly reflect the needs of the people. Establishing good communication between stakeholders is crucial, as it allows for the exchange of ideas and ensures that everyone’s voice is heard.

It’s inspiring to see young entrepreneurs set up microfinance institutions in their communities to provide small loans. By fostering a sense of ownership and engagement, we can empower young people to drive change in their own lives and the lives of others.

 

Host:
We have about 15 minutes left, so let’s take questions from the audience. Please keep your questions brief.

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Audience Member 1:
Thank you. My name is Ambassador Sh, and I’m the Executive Director for the US Africa Youth Leadership Summit. Young people today face significant challenges in finding jobs after graduation. The situation has become so competitive that graduates are increasingly turning to unconventional paths, like reality TV and social media influencing. How can we guide youth to utilize digital tools to expand their opportunities effectively?

 

Evie Chen:
This is a crucial topic. Micro-influencers provide a unique avenue for young people to connect with specific audiences. Investing in these individuals can yield better results than traditional celebrity endorsements, as they can tap into niche markets and resonate more with their followers.

Education is key. We need to teach young people how to navigate social media platforms and understand the algorithms that drive engagement. Government programs that support young influencers during their startup phase could provide essential backing and resources to help them succeed.

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Yuen Yen:
Indeed, social media platforms can be powerful tools for young people to showcase their talents and promote their businesses. However, we must also ensure that these platforms foster positive engagement rather than risky behavior. Collaborative efforts between governments and social media companies are necessary to ensure that young voices are amplified while also being protected from the pressures of unrealistic expectations.

Host:
Let’s move to our last panelist. Zainab, as a climate justice advocate, how can young leaders push for reforms that ensure marginalized voices are heard in global decision-making spaces?

Zainab:
Thank you for the question. The most straightforward answer is empowerment. Empowering marginalized communities is essential to ensure their voices are heard. At Equal Right, we are working on mobilizing climate finance from the Global North to the Global South.

One of our key initiatives is the cap-and-share model, which aims to cap carbon emissions and mobilize climate finance for energy transitions. By pairing countries and facilitating financial resources, we can help ensure that marginalized communities receive the support they need to combat climate change. If we implement cap and share effectively, we could potentially mobilize significant funds for climate justice, supporting initiatives that address extreme poverty and environmental degradation.

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Audience Member 2:
Hello, I’m part of a nonprofit organization called Recycle My Battery. We’ve placed over 865 battery bins and educated over three million people about proper battery disposal. Currently, we’re facing a challenge where we now need to pay for the battery bins. Can you guide us on how to bridge this financial gap?

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Evie Chen:
Your project is truly inspiring. Many universities and organizations have grant programs for initiatives like yours. Since you’re already engaged with schools and communities, I recommend applying for these grants. Building trust with these institutions can secure funding and support.

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Yuen Yen:
Additionally, consider exploring partnerships with local businesses and organizations. They may be interested in sponsoring your bins or collaborating on educational initiatives. Finding creative revenue models can help sustain your organization’s mission while addressing the environmental challenges you’re tackling.

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Host:
Thank you all for your participation. Let’s continue this important conversation beyond today and explore how we can work together to advance equitable finance and sustainable development. Thank you once again for being part of this discussion, and we look forward to seeing you at future events!