UN biodiversity chief Robert Watson told a gathering of diplomats from 132 nations the destruction of nature threatens humanity ‘at least as much as human-induced climate change,’ ahead of the release of the Intergovernmental Panel for Biodiversity and Ecosystem Services’s (IPBES) report on the ‘state of nature and humanity’s place in it,’ the first report of this type since 2005.
The impact investing sector has reacted positively to the new ‘Operating Principles for Impact Management’ developed by the International Finance Corporation (IFC). Observers believe the new principles could see impact investing ‘go mainstream’ by providing investors with a clear set of standards to assess the true impact of their investments, boosting the credibility of impact investing and instilling confidence in the market.
The Asian Development Bank (ADB) is earmarking USD $80 billion through 2030 to build infrastructure to help protect Asian countries from the impact of climate change.
New UK secretary of state for international development Rory Stewart has reiterated his support for the UK’s commitment to spend 0.7% of national income on overseas aid following his appointment to the role. Stewart’s support is a stark contrast to his predecessor, Penny Mordaunt, who claimed the 0.7% target was unsustainable and called for the UK’s development programmes to be jointly funded with other departments. Stewart described the UK’s £14.1 billion aid budget ‘hugely important’ particularly after Brexit when the UK wants to project itself as ‘global Britain’.
- One year on, the role of the China International Development Cooperation Administration remains cloudy
As the China International Development Cooperation Administration (CIDCA) turns one year old, the Brookings Institute takes stock of the how CIDCA has performed in its first year.
Rockefeller Philanthropy Advisors have produced a two-volume guide to the UN Sustainable Development Goals (SDGs) to both inform philanthropists of the purpose of the SDGs and provide tools for them to take actions on the SDGs within the UN framework.
An interview with Swedish International Development Cooperation Agency (SIDA) Director-General Carin Jämtin discussing financing the UN’s Sustainable Development Goals, Sweden’s official development assistance, European aid cooperation and what progress she wants world leaders to make on the major issues facing the world at the UN High-Level Political Forum later this year.
Nearly 40 world leaders and dozens of finance officials, including IMF Managing Director Christine Lagarde, where in attendance at China’s Belt and Road infrastructure summit, but new World Bank President David Malpass was not one of them, choosing instead to visit Sub-Saharan Africa to ‘highlight his vision for the bank’s poverty reduction and development agenda.’ World Bank CEO Kristalina Georgieva represented the institution at the summit. Georgieva had accepted the invitation to attend the summit while serving as acting president of the Bank during its leadership selection process.
The UN has announced the creation of the Global Investors for Sustainable Development Alliance (GISDA), a new initiative which will bring together a group of CEOs as part of an effort to more closely align the international financial system with the 2030 Sustainable Development Goals (SDG) Agenda.