The United Nations Office for Project Services (UNOPS)
Mobilizing private sector capital for the 2030 Agenda
Trillions of dollars will be needed annually to achieve the Sustainable Development Goals. World leaders meet in Brussels to shape financing global development needs.
This year's event, organised by the European Commission, marks the tenth anniversary of the annual leading forum on development and international cooperation. Implementation of the 2030 Agenda for sustainable development was at the forefront of the event.
Trillions of dollars will be needed annually to achieve the 2030 Agenda objectives. Both national and international public funds will be unable to cover the requirements. Countries will need to attract additional private finance to help drive economic growth as a basis for poverty reduction.
On the panel "From Words to Actions", UNOPS Executive Director Grete Faremo emphasized the important role the UN system – with its unique set of core values, expertise and global perspective – has in harnessing private sector capital for sustainable development.
UNOPS is already engaging with private investors and funds while also mapping ways to lower obstacles and reduce risks so that private capital can invest in the infrastructure needed to turn the SDGs into reality. The organization is launching an investment vehicle to manage the allocation of private capital through a Social Impact Investing Fund which focuses on financing mature, sustainable projects and initiatives that will measurably contribute to the realization of the SDGs and the Paris Climate Agreement. This will result in measurable social and environmental returns benefitting both communities and investors.
As the 2030 Agenda is implemented, inclusive partnerships and engagement with the private sector will play an important role in achieving the objectives. With this in mind, all panel members were open to new ideas that will bring the private sector, aid agencies and governments together in an effort to bridge private capital with sustainable development.