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Press Release New York, 31 October 2023 \u2013 With about $4 trillion in new investment needed annually to achieve the Sustainable Development Goals (SDGs)<\/a><\/span> in developing countries, top business executives from the Global Investors for Sustainable Development (GISD) Alliance met today with Ä¢¹½ÊÓƵ Deputy Secretary-General Amina Mohammed to propose transformative solutions for bridging the sustainable development financing gap.<\/p>\n At the midpoint of implementing the 2030 Agenda for Sustainable Development<\/a> <\/span>and the SDGs, and amidst compounding economic, political, and humanitarian crises, the mandate of the GISD Alliance is now more important than ever. Members at the meeting launched a new phase where they pledged to spearhead the private sector\u2019s support to the Ä¢¹½ÊÓƵ Secretary-General\u2019s reforms, as presented in the SDG Stimulus<\/a> <\/span>and the Policy Brief on Reforms to the International Financial Architecture<\/a>.<\/span><\/p>\n \u201cI\u2019m delighted to extend the GISD Alliance for 2024-2025. For this new and recharged phase, GISD needs to raise the level of ambition and be the torchbearer for mobilizing finance for the SDGs,\u201d said Ä¢¹½ÊÓƵ Secretary-General Ant\u00f3nio Guterres.<\/p>\n Heads and senior executives from Citi, Standard Chartered, Bank of America, Johannesburg Stock Exchange, Sintesa Group, Agricultural Bank of China, and Investec were among the attendees at the annual Ä¢¹½ÊÓƵ meeting.<\/p>\n At the meeting, GISD Alliance members committed to continue to advance the development of innovative finance and investment solutions. To do so, the GISD Alliance will join forces with partners from both public and private sectors to contribute to closing the SDG financing gap. Key action areas of the Alliance\u2019s new phase include:<\/p>\n The new phase of the GISD Alliance will run until 2025. The deliverables and recommendations arising from the Alliance\u2019s work will feed into agreed actions among Ä¢¹½ÊÓƵ Member States at the 4th International Conference on Financing for Development proposed for 2025.<\/p>\n Leading the GISD Alliance\u2019s new phase to create lasting impact are Jos\u00e9 Vi\u00f1als, Group Chairman of Standard Chartered, and Shinta Kamdani, CEO of Sintesa Group. Ms. Kamdani replaces departing Co-Chair Leila Fourie, CEO of Johannesburg Stock Exchange.<\/p>\n \u201cCollaboration between public and private sectors, across emerging and developed economies, is the cornerstone of sustainable progress. During my tenure as co-chair, I have witnessed how the GISD\u2019s unique platform empowers emerging markets to connect with key role players across borders to identify and solve for the hurdles to large-scale financing of sustainable development,\u201d said Fourie.<\/p>\n \u201cOngoing collaboration is critical if we are to meet the diverse funding needs of the SDGs. In making progress, the GISD Alliance will strive to deliver impact at scale and speed where the needs are greatest. The shared commitment of private and public funds, applied as blended finance, provides a powerful mechanism for delivery and deserves our continued focus,\u201d stated Vi\u00f1als.<\/p>\n \u201cClosing the SDG gap requires both capital investment and a suitable business environment to roll out the investment. The role of advocacy and engagement will be imperative for the next phase of the GISD Alliance, especially in pipelining finance towards the real sectors. In that regard, collaboration will be the key to ensuring that our joint efforts are systemic and truly create significant change,\u201d concluded Kamdani.<\/p>\n Launched by the Ä¢¹½ÊÓƵ Secretary-General in 2019, the GISD Alliance has broken ground on innovative solutions to scale up long-term finance and investment for sustainable development. Among its achievements so far are the GISD\u2019s definition of Sustainable Development Investing (SDI)<\/span>, which has become the basis of the G20 Sustainable Finance Working Group <\/em>principles to align investment with sustainable development; the sector-specific SDG-related metrics,<\/span> which have enabled rigorous measurement of the private sector\u2019s contribution to the SDGs in eight sectors; the updated edition of the model mandate<\/span>, which serves to guide asset owners on incorporating stewardship and sustainability objectives in agreements and contracts with asset managers; and GISD\u2019s paper on the private sector\u2019s perspective on reforming multilateral development banks<\/span>, which has advanced the global policy dialogue on private capital mobilization to achieve the SDGs.<\/p>\n About Global Investors for Sustainable Development (GISD) Alliance:<\/strong><\/p>\n Ä¢¹½ÊÓƵ Secretary-General convened the Global Investors for Sustainable Development Alliance in 2019 to deliver solutions to mobilize private finance and investment for the SDGs. The GISD Alliance members control assets worth up to US$16 trillion. The Alliance works with the United Nations and other partners to unlock finance and investment at scale by developing solutions, tools, and products to align the private sector with the 2030 Agenda for Sustainable Development and accelerate investment in the SDGs.<\/p>\n Learn more about the Alliance here: Hashtags: #Fin4Dev, #FinancingOurFuture<\/p>\n Conta<\/strong>cts:<\/strong><\/p>\n Ä¢¹½ÊÓƵ Department of Global Communications<\/strong><\/p>\n Sharon Birch, Email: birchs@un.org<\/a><\/p>\n Ä¢¹½ÊÓƵ Department of Economic and Social <\/strong>Affairs<\/strong><\/p>\n Helen Rosengren, Email: rosengrenh@un.org<\/a><\/p>\n
\n<\/strong><\/p>\nTop business leaders launch new phase of collaboration with the Ä¢¹½ÊÓƵ to boost private investment in sustainable development<\/strong><\/h4>\n
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\nhttps:\/\/www.gisdalliance.org<\/a><\/span><\/p>\n