ESG Finance for the SDGs

This working group is chaired by Andrés Melendro and Margaret-Ann Splawn.

Just like the Paris Agreement, the 2030 Agenda for Sustainable Development faces significant funding gaps. CMIA’s knowledge and expertise in the decarbonization of economic development through policy and finance strategies is highly valuable to address such gap, given the many interlinkages between climate change mitigation and adaptation, and the broader development agenda.

Achieving the SDGs globally and on time requires mobilizing immense private funding. Yet, doing so is not impossible, given the size, scale, and level of sophistication of the global financial system, as well as recent technological innovations. However, available finance is not channelled towards sustainable development at the scale and speed required. The financing gap to achieve the SDGs in developing countries is estimated to be US$ 2.5 – 3 trillion per year[1]. Achieving SDG also has the potential to open up US$ 12 trillion of market opportunities.

The aim of this Working Group is to reflect on ways to catalyse Environmental, Society and Governance (ESG) finance to fill the gap and maximize our chances of achieving the Sustainable Development Goals (SDGs) on time by 2030. The ESG finance for SDGs WG delves into issuers and investors’ needs to structure, finance, and implement projects that not only respect environmental and social safeguards, but also bring about net positive impacts.

[1] “Roadmap for Financing the 2030 Agenda for Sustainable Development 2019 – 2021”, United Nation’s Secretary General, July 2019. Available at https://www.un.org/sustainabledevelopment/wp-content/uploads/2019/07/EXEC.SUM_SG-Roadmap-Financing-SDGs-July-2019.pdf

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