Back

Collaboration and ESG language to unlock funding for sustainable infrastructure projects

September 5, 2023
Related topics: 
Economy

Developing countries face many challenges in mobilising private sector investment for sustainable infrastructure projects. Solutions include international cooperation and common environmental, social and governance (ESG) taxonomies. To close the climate finance gap, we need additional private investment especially in low- and middle-income countries.

To serve this purpose, Multilateral development banks (MDBs) are encouraged to expand their support for sustainable infrastructure projects and increase their risk appetite. Furthermore, collaboration among G20 public development banks (PDBs) is encouraged to leverage their strengths and promote transformative impact.

A common ESG language will also help standardise assessments of sustainable investments, reduce greenwashing and attract specialised capital. The G20 is called upon to strengthen institutional networks among developing countries, to strengthen the PDBs, and to create a universal ESG taxonomy for sustainable finance.

Ultimately, the recommendations in this paper aim to contribute to a more sustainable global economy by fostering cooperation, reducing investment risks, and accelerating the flow of funds to sustainable infrastructure projects.

Speakers
Sabrine Emran
Economist
Sabrine Emran is a Finance graduate specializing in financial markets and commodities. She holds a Grande Ecole master’s degree in Management from IESEG School of Management and ISCAE Group, as well as a Specialized master’s degree in Financial Markets from Paris Dauphine University and ENSAE ParisTech. Sabrine Emran started her career in investment writing and product development in the asset management branches of insurance companies and investment banks in Paris, working mainly on alternative investment asset classes. She was also recently a commodities analyst, focusing on risk management strategies for energy and agricultural commodities as well as foreign exchange risks. Sabrine Emran joined the Policy Center for the New south in September 2022 as an economist where she ...

RELATED CONTENT

  • Download PDF
    Production Networks, Sectoral Shocks and Aggregate Volatility in a Developing Economy: Insights From Morocco
    Authors
    Ali Elguellab
    Elhadj Ezzahid
    November 1, 2023
    The role of the production network in shock propagation has been an issue of considerable interest since the Great Recession. However, the empirical literature has only focused on advanced and emerging countries. This paper aims to contribute to filling this gap by examining the case of Morocco, a developing country belonging to the lower-middle-income group. The question is whether its production network is a factor in amplifying idiosyncratic industry-level shocks or, conversely, ...
  • Download PDF
    The Brazilian Economy’s Double Disease*
    Authors
    Otaviano Canuto
    October 26, 2023
    The Brazilian economy is stuck in a so-called middle-income trap—growth that stalled long before Brazil caught up with the living standards of the highly industrialized countries. After exhibiting a stellar performance in the decades before the 1980s, the economy has since been unable to sustain growth for long periods. The predicament can be summarized using a medical analogy: Brazil has been suffering from both productivity anemia and public sector bloat. On the one hand, it hasn ...
  • Download PDF
    Fighting inequalities: A Major Challenge and an Essential Prerequisite for Inclusive and Sustainable Growth in Africa
    Authors
    Hamza Saoudi
    Jean Louis-Sarbib
    October 18, 2023
    Addressing inequalities in all their forms has emerged as one of the major global challenges faced by numerous countries across the globe, particularly in Africa. In a context where Africa faces many pressing challenges that are the subject of much analysis (Sarbib et al. 2022), there is a clear gap in conducting comprehensive reviews focused on inequalities, partly due to the lack of available data. Inequalities, which are both consequences and partial causes of poor development o ...
  • Session 11: Financing for Development: What Comes next - Climate Finance
    October 13, 2023
    Chair: Masood Ahmed, President, Center for Global Development (CGD) Speakers: Niels Annen, Parliament State Secretary, Ministry of Economic Cooperation, Germany Michael Hugman, Director, Climate Finance, Climate Children's Investment Fund Foundation Avinash Persaud, Advisor, Prime...
  • Session 12: Sovereign Debt Distress in the Global South
    October 13, 2023
    ChairJorgelina A. do Rosario, Emerging Market Correspondent, Thomson Reuters Speakers Barry Eichengreen, Professor of Economics, University of California Berkeley Martin Guzmán, Co-President, Initiative for Policy Dialogue, Columbia University Nandalal Weerasinghe, Governor, Central...
  • Download PDF
    The Dollar-Renminbi Tango: The Impacts of Argentina’s Potential Dollarization on its Relations with China
    Authors
    Xiaofeng Wang
    Otaviano Canuto
    October 13, 2023
    The surprising victory of Javier Milei, the unconventional ‘anarcho-capitalist’ candidate, in the August primaries ahead of Argentina’s October 2023 general election, can be largely credited to his commitment to dollarize the Argentine economy, a move perceived as the ultimate solution to bring an end to the nation's economic turmoil. The potential shift from the local currency to the dollar has sparked concerns about Argentina's bilateral currency swap line with China. This swap l ...
  • Central Bank Digital Currencies in Practice
    October 12, 2023
    Chair: Ousmène Mandeng, Advisor, Accenture Speakers: John Rolle, Governor, Central Bank of The Bahamas Wolfram Seidemann, CEO at Giesecke+Devrient Currency Technology Leong Sing Chiong, Deputy Managing Director, Monetary Authority of Singapore Cecilia Skingsley, Head of the Innovat...