Global Outlook on Financing for Sustainable Development 2023.
Successive crises including COVID-19, Russia's war of aggression in Ukraine and the climate emergency are exacerbating inequalities between and within countries and stifling progress to achieve the Sustainable Development Goals (SDGs) and the Paris Agreement. While developed countries deployed...
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| Autor Corporativo: | |
| Formato: | Libro electrónico |
| Idioma: | Inglés |
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Paris :
Organization for Economic Cooperation & Development
2022.
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| Edición: | 1st ed |
| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009704777506719 |
Tabla de Contenidos:
- Intro
- Foreword
- Editorial
- Table of contents
- Abbreviations and acronyms
- Executive summary
- Overview
- From a Great lockdown to a Great Divergence
- COVID-19 and Russia's war of aggression against Ukraine are exacerbating global fault lines
- Failure to address multidimensional shockwaves could lock in protracted SDG divides
- The sustainable development finance gap in developing countries keeps growing
- Looking forward, the recovery is stifled and the system of financing for sustainable development increasingly unstable
- The sustainable finance equilibrium: No sustainability without equity
- The pandemic amplified imbalances in the global financial system
- Sustainable finance in developed countries reached a new high despite the global recession
- However, the sustainability boom has not reduced the risk of an equity shortfall
- The recovery will be neither sustainable nor resilient if the poorest are left behind
- Step 1: Reinforce the "equity" pillar of SDG alignment
- Support domestic resource mobilisation to avoid the fiscal and credit crunch in developing countries
- Deepen domestic markets for sustainable finance and investment in countries most in need
- Attract and monitor financing for development aligned to integrated national financing strategies
- Step 2: Promote collective action along the investment value chain
- Strengthen financial risk management standards and incentives, including risk perception criteria and ratings aligned to the SDGs
- Implement regulations to avoid green- and SDG-washing
- Promote coherent domestic and external policies for financing sustainable development
- References
- Notes
- 1 From the Great Lockdown to the Great Divergence
- 1.1. The uneven COVID-19 recovery and the impact of Russia's war against Ukraine are exacerbating global economic fault lines.
- 1.1.1. A fragile "K-shaped" recovery is accentuating economic and financial disparities across countries in the wake of successive crises
- 1.1.2. Developing economies face heightened financial risks and volatility over the medium to long term
- 1.2. The Great Divergence threatens to turn the Decade of Action into a Decade of Divides
- 1.2.1. Major recent external shocks will leave long-lasting scars on global development and increase the financing needs of the most vulnerable
- 1.2.2. Achieving a recovery aligned with the Sustainable Development Goals will require financing for both rescue and recovery measures
- References
- Notes
- 2 Financing for sustainable development at a tipping point
- 2.1. The financing for sustainable development landscape was on the brink of a major collapse during the COVID-19 crisis
- 2.1.1. Despite swift policy responses, the COVID-19 pandemic triggered a significant drop in nearly all sources of financing for sustainable development in 2019-20
- 2.1.2. The Sustainable Development Goal financing gap increased due in large part to the severe decline in government revenues
- 2.2. The recovery in advanced economies and the countercyclical role of official resources helped sustain external financing flows
- 2.2.1. External capital flows were a major channel of transmission of the COVID-19 shock to the financing for sustainable development landscape
- 2.2.2. Remittances demonstrated resilience in the face of the pandemic
- 2.2.3 Official development finance reached record levels in 2020 yet did not fully compensate for the loss of other resources during the pandemic
- 2.3 Domestic public and private resources in developing countries are increasingly stretched
- 2.3.1. Government revenue registered a steep decline in 2020, leading to a significant fiscal crunch.
- 2.3.2. Domestic private investment can play an essential role in countries' resilience to external shocks, but it remains scarce in many developing countries
- 2.4. The risk of growing imbalances in the financing for sustainable development landscape has increased over the medium to long term
- 2.4.1. The financing outlook remains grim for developing countries
- Successive crises, including Russia's war in Ukraine, could stifle the government revenue of developing countries for years to come
- Fragile investor sentiment and deteriorated credit conditions will continue to weigh on private finance in the medium to long term
- 2.4.2. Financing for sustainable development leakages continue to deprive developing countries of considerable resources
- The risk of increased leakages from illicit financial flows adds to the grim financing outlook
- Inefficiency and poor prioritisation of public spending result in lower returns on SDG-related investments
- 2.4.3. Sustained efforts from official providers will be critical to enable a just and sustainable recovery in developing countries
- References
- Notes
- 3 Sustainable Development Goal alignment for a just and sustainable recovery
- 3.1. Sustainable Development Goal alignment for a just and sustainable recovery
- 3.1.1. The pandemic amplified pre-existing imbalances in the global financial system
- 3.1.2. Sustainable finance can build global resilience and help to ensure no one is left behind.
- 3.2. The sustainability boom is underway, yet market gaps remain
- 3.2.1. Public and private interests are converging towards a fast-growing market for sustainable finance in developed countries
- 3.2.2. Barriers including incompatible standards and definitions continue to impede sustainable finance on a global scale and the move from an ESG to an SDG paradigm.
- 3.3. The equity pillar: No sustainability without equity
- 3.3.1. Opportunities for investment aligned to the Sustainable Development Goals in developing countries
- 3.3.2. Barriers to access sustainable finance in the poorest and most vulnerable countries could lock in the Great Divergence
- 3.4. Actions to avoid the Great Divergence
- 3.4.1. Actions in support of countries at risk of divergence
- Support domestic resource mobilisation to increase fiscal space in developing countries
- Deepen domestic sustainable finance markets and strategies in countries most in need
- Attract and monitor financing for development aligned to country-led financing strategies
- 3.4.2. Actions by countries of origin and their financial intermediaries
- Strengthen financial risk management standards and incentives including risk perception criteria and ratings aligned to the SDGs
- Implement regulations to avoid washing and diversion
- Promote coherence of domestic and external financing for sustainable development policies
- References
- Notes.
