September 2016

At the High Level session of the UN The present and past Presidents of the UN General Assembly (UNPGA) launched a new report which i had the pleasure of being on the informal expert group for. The report was produced for the PGa by Brookings Institute. It looked at the strategies to shift capital towards investments that generate climate action and sustainable development at the United Nations event the new report titled “Links in the Chain of Sustainable Finance: Accelerating Private Investments for the SDGs, including Climate Action.”

"The ambitious goals of Agenda 2030 and the Paris Agreement on climate change have not yet been matched by an equally ambitious financing plan that will get the right resources to the right places at the right time. Despite articulation of a global financing framework in the UN’s 2015 Addis Ababa Action Agenda, both public and private financing for sustainable development are underperforming relative to expectations and needs.   Public resources command attention because they can be programmed by government commitments with some degree of confidence on a multi-year basis. Publicly-funded investments can also incorporate non-market environmental, social and governance issues into project design, selection and implementation. It is certainly the case that many countries still need to mobilize more domestic public resources for the SDGs and climate action. There are, however, well-understood limits to public financing, including pressures on official development assistance (ODA) due to diversion of resources to humanitarian relief and to economic strains in major donor economies, many of which have roots in the most recent global financial crisis."

The paper explores the question of how to align the responsibilities of interconnected investor, policy, regulatory, and corporate actors in a manner that creates incentives for reorienting capital flows toward SDG priorities. It further proposes a practical timetable linked to major international events in 2019, 2020 and 2023 – by which Member States can work with private sector leaders to ensure that both public and private investments meet appropriate environmental, social, and governance standards to achieve the international agreements captured in the  2030 Agenda for Sustainable Development..