The 2023 SDG Global Business Forum, held during the High-Level Political Forum on Sustainable Development, emphasized the importance of cross-sector collaboration in mobilizing private finance for sustainable development.

Shari Spiegel, Acting Director of the Financing for Sustainable Development Office at UN DESA, moderated the session "Fireside Chat: Scaling up financing for the SDGs" between H.E. Ms. Mathu Joyini, the Permanent Representative of South Africa to the UN, and GISD Representative Gavin Power, Chief of Sustainable Development and International Affairs at PIMCO. 

Three key areas were addressed during the panel discussion:

1. Creating an enabling environment for scaling up SDG financing in countries
2. Implementing effective policies and financial instruments to de-risk investments and shift private actors' risk perceptions
3. Steps to hold companies accountable for environmental, social, and governance impacts and to align risk returns with the SDGs. 

H.E. Ms. Joyini emphasized developing countries' need for affordable financing and improved debt servicing, and the high expectations for reform of the global financial architecture. Mr. Gavin Power highlighted an increased interest from PIMCO's clients for outcomes-oriented investments, including via sustainability bonds. He stressed the importance of public sector guidance, including better tools for blended finance and increased collaboration between the private community and investment banks.

One solution discussed was investors pooling together to co-invest in developing countries. GISD's Sustainable Infrastructure Investment Platform (SIIP) and sovereign SDG bonds were provided as examples of innovative instruments that contribute to scaling up financing for development.