UN launches new network of Global Investors for Sustainable Development
At the United Nations Economic and Social Council’s Forum on Financing for Development Follow-up, a new network of Global Investors for Sustainable Development (GISD) was launched. The design of GISD has been heavily inspired by the Swedish network for investors that has been managed by the Swedish International Development Agency (SIDA) since 2016. Promoting and leveraging increased private sector investments for sustainable development is high on the list of the Swedish government's priorities. This was reflected in the presence of both the Swedish Minister for Development Cooperation, Mr. Peter Eriksson, and the Director General of SIDA, Ms. Carin Jämtin, at the launch event in New York.
The GISD has been developed by the UN Department of Economic and Social Affairs (DESA) in close collaboration with SIDA. Similar to its Swedish counterpart, the GISD is a partnership which aims to promote engagement in corporate governance around the SDGs as well as being a platform for learning, sharing experiences, and founding voluntary projects. To reach UN Sustainable Development Goals (SDGs) it is estimated that US$90 billion is needed globally. Throubh the Swedish Investors for Sustainable Development network members have started a number of new SDG funds and several investments have been made in green bonds, World Bank SDG bonds, and sustainable water bonds. In 2018 four members of the network (SEB, SHB, Swedish Church and Skandia) made a large joint investment, with a focus on sustainable cities, amounting to US$270 million (SEK 2,5 billion) in World Bank bonds. There is significant potential to leverage new financing for the SDGs through the GISD.
Information on the SISD can be found here
Information on the GISD launch event
Source - Sida Press release