The GISD Alliance convenes stakeholders at the Spring Meetings to enhance private capital mobilization
The Global Investors for Sustainable Development (GISD) Alliance, supported by the United Nations Department of Economic and Social Affairs, together with the Swedish International Development Cooperation Agency (Sida) and the United Nations Foundation, held a side event during the World Bank Group and International Monetary Fund 2023 Spring Meetings on "Enhancing the Role of MDBs in Catalyzing Private Finance and Investment."
In an op-ed for The Business Times (Singapore), GISD Alliance Co-Chair Jose Vinals (Group Chairman of Standard Chartered) urges the investor community to embrace a new era of sustainable development investing: "to meet the challenges facing us, we must reject the false choice between profits and principles. There is a path forward that can unleash the power of private capital to make our world more sustainable and our lives more equitable."
We, the Global Investors for Sustainable Development (GISD) Alliance, reiterate our full support to the United Nations Sustainable Development Goals (SDGs). The SDGs remain the blueprint to navigate these turbulent times. They can guide us back on course towards a sustainable world with prosperity for all.
Photo credit: UN Photo/Rick Bajornas
Of the US$3 trillion needed to finance the SDGs, the average annual financing gap for emerging markets is US$2.5 trillion. This will have grown as a result of the Covid pandemic, which also wiped out decades of progress. How can we align the incentives of governments, multilaterals and the private sector to scale investment into sustainable development, to bring about a fairer, safer, more resilient and more prosperous world?
Increasing private finance mobilization: Recommendations for development banks and the global development community
The GISD Alliance makes 8 priority recommendations for development banks and the global development community to increase private finance mobilization.
We, the members of the Global Investors for Sustainable Development (GISD) Alliance, reaffirm our support for the 2030 Agenda for Sustainable Development – which sets out a vision for a prosperous future for people and planet, underpinned by sustained, inclusive and sustainable economic development.
The GISD Alliance issued a statement vowing greater action to confront the global economic crisis driven by the COVID-19 pandemic and keep the SDGs on track.
The GISD Alliance at its launch in October 2019 commited to scale up investment and its impact for the achievement of the SDGs.